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Portugal Says Yeeeha in Lourinha
May 7, 2010Article by Ray Withers
Lourinha property could be the next big thing in Portugal property according to analysts. Lourinha is a Portuguese Municipality on Portugal’s coast in the district of Lisbon. The municipality will benefit from its location and resurgence in the normal overseas property market, according to international property investment consultancy Property Frontiers. Director of the firm David Cox said:
“The Silver Coast is an emerging market within Portugal, which sprang to increasing popularity as the Algarve property market when out of price-reach for the average buyer during the last boom. When the credit crisis struck, many people who were actively browsing the Sliver Coast for the property of their choice immediately postponed their plans.
“Now we are seeing these buyers starting to come back out and put their plans back on track, as their confidence in the economic recovery, and things like job security grow. What they could well find, is that the properties they had their eye on is now out of their reach owing to the fact the Portugal property held its value and the Euro is a lot stronger against Sterling than it was back then. In will step Lourinha property to save the day, and, in all honesty take their breath away (coughs).”
Property Frontiers are currently marketing several top Lourinha properties for sale. At the top of their scale is the Silver Coast Heights Development, offering only 3 bedroom luxury villas priced from £428,000 to £438,000. The development is built with luxury and functionality in mind, and all units have either a private infinity pool or a Jacuzzi. The development is just a short drive from Lisbon and has only 13 homes for sale. For those with a slightly lower budget the firm is marketing the Silver Coast Residence, offering 3 bedroom townhouses for just £306,000. The prices represent a discount of between 32 and 50 thousand Euros. The properties come with a guaranteed rental of 5.25% for the first two years, making these the ideal holiday home investment.
Both developments offer finance of up to 80% LTV, which has not been important over the last few months, but will become more so now that lower income buyers are starting to return to the market.
Lourinha has 18km of coastline, and is located just 45 minutes from Lisbon and its international airport, making it easily accessible from the UK, Europe and around the world. The municipality also has golf courses, and an equestrian centre is currently under construction.