Following one of the best summer and autumn sales periods since the recession started in 2008 we have now made a serious dent in the amount of properties we have for sale. Properties which have sold range from exclusive villas in the prestigious areas of Caliças and Funchal Ridge right through to residential apartments close to the town centre.
The appetite for buying property has certainly returned, and as previously mentioned, this is being bolstered by new markets being driven by new legislation, both European and non-Europeans are being incentivised to reside in Portugal. Therefore new markets of Scandinavians, French, Chinese, Russian and even Middle East buyers are coming to Portugal in good numbers.
In terms of sales values, I believe these will be constant for at least 3-5 years. I do not see much, if any, capital growth during this period. However, what we are seeing is the stabilising of the market pricing and a strengthening of the mood of sellers and buyers. Therefore if you are waiting for the good old days of pre-recession prices to return I think you will have a long wait. I am sure we have hit the bottom and as just mentioned we are seeing a firming up of the floor prices, but growth is not on the cards just now.
So if you have been waiting, I suggest that now is the time to sell. B&P will offer you a free valuation on your property to give you an idea of the price to expect. We need all types of properties from apartments or houses on Meia Praia, villas in Porto de Mos, villas in Luz Parque to apartments in Luz. All properties are required in all areas!
Take a browse through the latest listings from B&P Real Estate, new price reductions and bargains!
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