The rental market in Portugal is surging as a result of many locals being priced out of buying properties, according to a report from report from the Royal Institution of Chartered Surveyors and Confidencial Imobiliário.
Many Portuguese residents are finding it hard to get mortgage finance despite falling house prices, and those considering an investment or buy to let property in the country are being urged to act now in order to make the most of the low property prices and high potential rental yields.
This trend is especially prevalent in traditionally popular tourist areas which have retained their rental popularity while falling dramatically in price.
According to the report, rental transactions are expected to increase fastest in the Algarve while Lisbon and Porto will also remain popular rental areas both with residents and expats.
Commenting on the findings, RICS senior economist Josh Miller states: "The lettings market is likely to continue experiencing high volumes of activity for the time being."
If you’re considering a Portuguese investment then the Portuguese Pavilion at A Place in the Sun Live, which takes place between the 30th of March- 1st of April 2012 at London Earls Court, brings together Portuguese property experts, developers and agents all under one roof.
There will be seminars on buying in Portugal to give you all the information you need, plus the chance to look at hundreds of properties from all over the country. Advance tickets are available to book now, priced at two for £15 and include a FREE six-month subscription to A Place in the Sun magazine.
Read our guide to buying a property in Portugal or search for property for sale in Portugal.
Overseas Property News from A Place in the Sun