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A sporting chance on the Algarve

25th April 2008 | back to article listings BACK    print this article PRINT

When it comes to Portugal, investors in property have many interesting choices. From the port wine country inland from Porto, to Lisbon with its fast-growing infrastructure, there is no shortage of possible investment destinations which some may not have thought of.

The Algarve stands somewhat in contrast to this, the country's southernmost region being a hugely popular resort for a wide variety of holidaymakers, from families to baby boomers and senior citizens. It has sun, sand and sea, plus a large tourist infrastructure, as might be expected.

Yet none of this makes it a bad place to invest. Far from it, according to Nick Marr, chief executive officer for overseas property portal Homesgofast.com. He noted that "you are always going to get people who want to buy in the Algarve," something which makes a future re-sale a good prospect. Advantages he mentioned included the accessibility provided by Faro airport, plus the small matter of a particular attraction which has been growing in the holiday areas of the Iberian peninsula – the practice of trying to whack a small white ball across large green spaces (with a bit of added sand and water) into a little hole.

He commented: "For the Algarve, if you are thinking about renting it out as a holiday home when you are not there and you're near a golf course, then you can't really go far wrong. Golf is quite an influential thing in Portugal."

Nor just golf, Mr Marr added: "Golf is quite an influential thing in Portugal. If you are a short drive from a championship golf course, or a tennis academy or something like that, you are going to be spot-on."

In 2006, Sunscape Properties predicted that over the following seven years there would be a 300 per cent rise in tourist numbers in the country, with many tourist attractions being added to draw the crowds in. It noted that "all over Portugal" golf courses were being built. Better still, a Formula One-type motor circuit is being planned for the Algarve. (The report did not say the Portuguese Grand Prix would be move there, but the presence of such a track could make this possible).

With so much in the way of sporting attractions, it may be small wonder if there really is a 300 per cent increase in the tourist numbers. Mr Marr concluded by saying that other areas of Portugal can certainly offer plenty, with the Silver Coast set to be "a big area in the next few years," but it seems that the Algarve will remain a place where investors can carry on investing with above-par results.

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