Potential Areas in Portugal to Renovate ...
Discussion
Not sure if this is the right forum but you seem a knowledgable lot .... 
I have been toying with the idea of buying somewhere abroad to develop for a couple of years and want something relatively low risk and my wife REALLY likes Portugal. I want to try and find somewhere a little out of the main tourist trap but for convenience want to be no more than 90 mins drive from Faro (being the most accessible airport).
Anyone got any experience of potential areas that could be suitable and companies that deal with properties with development opportunities.
Cheers
I have been toying with the idea of buying somewhere abroad to develop for a couple of years and want something relatively low risk and my wife REALLY likes Portugal. I want to try and find somewhere a little out of the main tourist trap but for convenience want to be no more than 90 mins drive from Faro (being the most accessible airport).
Anyone got any experience of potential areas that could be suitable and companies that deal with properties with development opportunities.
Cheers
The Algarve has been fairly heavily developed in the past 10 years or so, spreading West from Faro, so you should be looking down nearer Portimao/Lagos, Praia Da Luz, Burgau and further West.
AFAIK Portugal is not the most tax efficient country to have/sell property in (may be different for commercial enterprises than holiday homes?) so check this out first
There are *TONS of empty appartments/villas in Portugal and whilst prices are still fairly boyant at the moment, I would imagine in the not too distant future prices may start to drop due to the over supply. The problem seemed to be that when Portugal took up the Euro, all the locals dug their Escudos out from under the bed and stuck it all in property to save them loosing all the 'black' money they had hidden away.
* Fools build and wise men buy
AFAIK Portugal is not the most tax efficient country to have/sell property in (may be different for commercial enterprises than holiday homes?) so check this out first
There are *TONS of empty appartments/villas in Portugal and whilst prices are still fairly boyant at the moment, I would imagine in the not too distant future prices may start to drop due to the over supply. The problem seemed to be that when Portugal took up the Euro, all the locals dug their Escudos out from under the bed and stuck it all in property to save them loosing all the 'black' money they had hidden away.
* Fools build and wise men buy
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