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Luxury real estate now cheaper in Portugal, says expert

A property expert has claimed that luxury property in Portugal has becoming cheaper in the last few years.

Mike Ward, CEO of financial asset transfer firm, USForex, was talking to yahoo.com this week. He said that high-end real estate had been reduced by up to half in the country, as well as in Spain.

He told the site: "Foreign real estate destinations that saw prices plummet are Spain and Portugal, with luxury property prices dropping as much as 50 percent."

This is great news for Brits who are hoping to emigrate abroad and are looking for a bargain. These deals are even more tempting, considering that Portugal was named as one of the top ten places to emigrate to in a new poll this week.

According to indiatimes.com, Portugal came into the list, created by the Overseas Guide Company (OGC), in sixth position.
This year's poll saw many European cities making it into the top ten, whereas more faraway destinations, such as Australia and New Zealand slipped down the list. Authors of the poll claimed this was likely to be because ex-pats wanted to be closer to friends and family at home.

The poll is based on the number of enquiries that the OGC receives on each destination.

Posted on Thursday, December 5, 2013

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