So another year in the Golden Triangle property world has drawn to an end. Dependent upon the many varied opinions, and reflections, 2017 was another active year for sales.
There is a definite dearth of good quality property, mainly due to the upturn in demand, coupled with the lack of new building construction. The result is that prices have also seen an upward trend. This will undoubtedly change in the coming months as constructors and developers are now commencing building properties that have either been mothballed or disregarded for a number of years.
Portugal's Prime Minister this week announced that US-based multinational Google is from June to set up a new service centre and technology hub for Europe, in Oeiras, outside Lisbon initially with 500 jobs for highly qualified people.
To Borrow the phrase "a week is a long time in politics", well three months is certainly a long time in the property business, particularly here in the Algarve.
Starbucks, which controls either directly or indirectly through their franchise operation, more than 15,000 coffee outlets throughout the world is determined to expand in Portugal.
Wine producers of the Algarve are expected to ship more than 1.2 million litres of the 2017 grape harvest.
With an investment of 32.8 million euros, the expansion and remodeling works of Faro airport are now complete and are the answer to allow the airport to continue to grow in a sustained way.
When penning a property related article it is always difficult to be entirely objective, particularly when one is personally involved in the business of real estate sales. I often read these articles and think that the majority of readers and potential buyers will think to themselves “well they would say that”. The fact of the matter is most of the information provided by these publications is quite accurate.
Portugal comes in at third place after had risen to fifth in 2016, when it was also the country with the biggest improvement in Europe.
Brexit fears and the reduced strength of sterling continue to worry some UK buyers, but it is the very thought of Brexit that is driving many UK nationals to consider emigrating. The French market on the other hand is back on track after Macron's win and Portugal's NRH tax regime is making the country the most appealing option for many that can enjoy their pensions tax free for 10 years.