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According to the latest Royal Institution of Chartered Surveyors/Ci Portuguese Housing Market Survey the Algarve property market remains relatively stable despite the wider Portugal property market downturn.
The Portuguese property index shows that activity and confidence in the Algarve
property market is relatively steady in spite of a general downturn nationwide.
The national activity and national confidence indices for the whole of Portugal
dropped by eight and two points respectively to -33 and -51, while the national
price balance fell from -55 to -59.
Josh Miller, RICS senior economist, said: “In Portugal, it is the demand side of the
equation that is weighing down on prices, with the double digit unemployment
rate feeding through to weakness in new buyer
Weak market conditions are creating some fabulous bargain opportunities for those
people actively looking to buy a home in Portugal. But values in the Algarve are
holding firm, for now.
If you are interested in purchasing a property on the Algarve please get in contact and tell us what you are looking for we will then try source it for you, there are some fantastic deals at the moment.
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