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Portugal Housing Market


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#1 The Masked Tulip

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Posted 10 July 2012 - 05:49 PM

Portugal is now one of the cheapest civilized places in the world to live. As part of the contraction, both asset prices and many retail prices in Portugal have dropped substantially.

The middle/upper-middle class segments of the real estate market have gone no-bid, and investment property owners with mortgages to service are getting desperate.

To give you an idea, Iím renting a spacious 3-bedroom, 2000 square foot luxury apartment in a new(ish) development that was completed during the real estate boom a few years ago. Itís costing me a whopping $60/night.

The complex is a ghost town. Iíve seen four human beings in as many days, and as I stand on the terrace surveying the other units, most of what I see is vacant.

Property owners Iíve spoken to say that they donít want to rent to locals under a long-term lease because the locals canít pay. And when they stop paying, the government makes eviction very difficult.

This makes their market of potential lessees quite small, hence cheap prices.



Read more: http://www.sovereign.../#ixzz20F8V1Sat
The success or failure of your deeds does not add up to the sum of your life. Your spirit cannot be weighed. Judge yourself by the intention of your actions and by the strength you faced the challenges that have stood in your way.

The people closest to you have been trying to tell you that you have made a difference. That you did change things for the better. The Universe is vast and we are so small. There is really only one thing that we can ever truly control - whether we are good or evil.


The political triumph of the American Right has been to advance relentlessly the economic interests of the country's richest people, while emphasising a swath of moral, social and foreign policy issues that motivate and certainly distract middle-class and poor voters.

#2 Gone baby gone

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Posted 10 July 2012 - 05:53 PM

$1680 a month to live in a ghost town - a steal.

#3 bmf

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Posted 10 July 2012 - 05:55 PM

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Angola is up and coming.

Weird effects of a first-world depression: Portugese are moving in ever-greater numbers to the country's former colonies, Angola and Mozambique, and sending increasing amounts of money back home in the form of remittances.



#4 Democorruptcy

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Posted 10 July 2012 - 06:17 PM

Read more: http://www.sovereign.../#ixzz20F8V1Sat

Reminded me of an old one

I wonder how Christina is getting on?

Christina, 47, from Pimlico, west London, bought the property for 300,000 euros in 2008 (£250,000 at the time). She has been considering selling the property to invest in a buytolet in the UK. However, she is rethinking this strategy in light of the current situation.
'The rent is covering the mortgage and other costs,' she says. 'The Algarve has been awful property-wise because of a glut of supply. But thankfully, they are not matching supply in other parts of the coast, which are more attractive and cheaper.' As head of the Portuguese Chamber of Commerce in London, Christina has a good grasp of the country's economy and is upbeat about the prospects for her property.
Even if Portugal left the euro and returned to using the escudo, she believes the impact would not necessarily be negative - and might even increase property prices.

Now would be a bad time to sell, she believes, as many properties have gone on sale because 'people have taken fright' at the country's financial malaise. But if she was offered 320,000 euros (£266,000), she would probably sell and reinvest in Britain.
Christina says: 'I'm confident that if I sit on it for a year or 18 months, I will be OK because then I will have more than one buyer to choose from.'


Read more: http://www.dailymail...PIGS-storm.html



Democorruptcy
If you say "Democorruptcy" quickly, it sounds a bit like "Democracy". In a "Democracy" people vote for politicians who represent their interests. In the UK's "Democorruptcy" people can only vote for expense fiddling thieving MPs who are in the hip pocket of big business and the finance sector.

Governbankment
A "Governbankment" is a Government that has no line between itself and banks. It diverts public money (our taxes) to private companies (banks). George Osborne's Help to Buy Bail Banks, will see our taxes go to bankers to cover their losses on mortgages that default. The UK's Governbankment will even pay bankers "reasonable repossession fees" on Help to Bail Bank mortgages that default.

The Funding for Lending Scheme (FLS) is stealing from savers to make them pay for crimes by bankers. Via lower interest on savings, all the bank fines for PPI, LIBOR, interest rates swaps, etc. are being paid by savers so that bankers can keep pocketing bonuses. 

"We need to make a really big change: from an economy built on debt to an economy built on savings" - David Camoron Jan 2009
"Printing money is the last resort of desperate governments when all other policies have failed" - George Osborne Jan 2009
- So what do Camoron & Osborne do? Print money and leave interest rates at 0.5% when inflation is over 5%

If it is asserted that civilization is a real advance in the condition of man -- and I think that it is, though only the wise improve their advantages -- it must be shown that it has produced better dwellings without making them more costly; and the cost of a thing is the amount of what I will call life which is required to be exchanged for it, immediately or in the long run.
http://classiclit.ab...en-Part-2_4.htm

I want to tell you my secret now.... I see debt people


#5 aSecureTenant

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Posted 10 July 2012 - 06:27 PM

The property ramping gets subtler.

"Capitalism has defeated communism. It is now well on its way to defeating democracy" ~ David Korten

“To think output and income can be raised by increasing the quantity of money, is like trying to get fat by buying a larger belt” ~ John Maynard Keynes 

 

Ignoring ALL UKIP and 'Election' threads on HPC until further notice


#6 Democorruptcy

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Posted 10 July 2012 - 06:28 PM

Christina still owns property in Portugal in Oct 2010 when doing A Place in the Sun interview. Not decided which buyer to choose yet?

http://www.aplaceint...f-Commerce.aspx

Spreading the word about Madeira property in April 2010
http://www.madeira-real-estate.com/

Democorruptcy
If you say "Democorruptcy" quickly, it sounds a bit like "Democracy". In a "Democracy" people vote for politicians who represent their interests. In the UK's "Democorruptcy" people can only vote for expense fiddling thieving MPs who are in the hip pocket of big business and the finance sector.

Governbankment
A "Governbankment" is a Government that has no line between itself and banks. It diverts public money (our taxes) to private companies (banks). George Osborne's Help to Buy Bail Banks, will see our taxes go to bankers to cover their losses on mortgages that default. The UK's Governbankment will even pay bankers "reasonable repossession fees" on Help to Bail Bank mortgages that default.

The Funding for Lending Scheme (FLS) is stealing from savers to make them pay for crimes by bankers. Via lower interest on savings, all the bank fines for PPI, LIBOR, interest rates swaps, etc. are being paid by savers so that bankers can keep pocketing bonuses. 

"We need to make a really big change: from an economy built on debt to an economy built on savings" - David Camoron Jan 2009
"Printing money is the last resort of desperate governments when all other policies have failed" - George Osborne Jan 2009
- So what do Camoron & Osborne do? Print money and leave interest rates at 0.5% when inflation is over 5%

If it is asserted that civilization is a real advance in the condition of man -- and I think that it is, though only the wise improve their advantages -- it must be shown that it has produced better dwellings without making them more costly; and the cost of a thing is the amount of what I will call life which is required to be exchanged for it, immediately or in the long run.
http://classiclit.ab...en-Part-2_4.htm

I want to tell you my secret now.... I see debt people


#7 hotairmail

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Posted 10 July 2012 - 06:42 PM

Christina still owns property in Portugal in Oct 2010 when doing A Place in the Sun interview. Not decided which buyer to choose yet?

http://www.aplaceint...f-Commerce.aspx

Spreading the word about Madeira property in April 2010
http://www.madeira-real-estate.com/



During my years in Portugal I owned a publishing business based in central Lisbon and lived in Cascais, near Estoril. Over a ten year period I worked in the advertising industry and then the publishing industry, specialising in the consumer advertising sector and then in the residential real estate sector. I have worked with some of Portugal's best known resorts over the years, among them Vilamoura, Quintas de Obidos and Praia D'El Rey Ė indeed I got so keen on the Silver Coast that I have owned a home there since 2008.



"I ran one of those dodgy leaflet printing operations supporting the hard selling of property to ignorant British tourists." ;)

Edited by Karlie's Engels, 10 July 2012 - 06:42 PM.

"The chicken is radiating disorder out into the wider universe."


#8 Democorruptcy

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Posted 10 July 2012 - 06:43 PM

May 2011 Christina is still bullish on Portugese property

Portugal's problems have been different from those of Greece and Ireland, the other EU countries that have needed bailing out, we have put a lot of effort into explaining that, when it comes to buying property in Portugal, the bubble hasnít burst the way it has in Spain, simply because there was no Ďbubbleí in the first place.

ďDespite the global financial crisis, the Portuguese property market has remained relatively stable. Demand, of course, has been drastically down, but prices have not dropped dramatically, as Portugal has never suffered from the over-supply of properties that we have long seen in Spain. The market is coming back slowly, and Portugal will be better placed than most countries to benefit when it does.Ē

http://www.businessn...33&cid=0&scid=0


Democorruptcy
If you say "Democorruptcy" quickly, it sounds a bit like "Democracy". In a "Democracy" people vote for politicians who represent their interests. In the UK's "Democorruptcy" people can only vote for expense fiddling thieving MPs who are in the hip pocket of big business and the finance sector.

Governbankment
A "Governbankment" is a Government that has no line between itself and banks. It diverts public money (our taxes) to private companies (banks). George Osborne's Help to Buy Bail Banks, will see our taxes go to bankers to cover their losses on mortgages that default. The UK's Governbankment will even pay bankers "reasonable repossession fees" on Help to Bail Bank mortgages that default.

The Funding for Lending Scheme (FLS) is stealing from savers to make them pay for crimes by bankers. Via lower interest on savings, all the bank fines for PPI, LIBOR, interest rates swaps, etc. are being paid by savers so that bankers can keep pocketing bonuses. 

"We need to make a really big change: from an economy built on debt to an economy built on savings" - David Camoron Jan 2009
"Printing money is the last resort of desperate governments when all other policies have failed" - George Osborne Jan 2009
- So what do Camoron & Osborne do? Print money and leave interest rates at 0.5% when inflation is over 5%

If it is asserted that civilization is a real advance in the condition of man -- and I think that it is, though only the wise improve their advantages -- it must be shown that it has produced better dwellings without making them more costly; and the cost of a thing is the amount of what I will call life which is required to be exchanged for it, immediately or in the long run.
http://classiclit.ab...en-Part-2_4.htm

I want to tell you my secret now.... I see debt people


#9 Democorruptcy

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Posted 10 July 2012 - 06:48 PM

Has one woman ever done more for the Portugese property market?

She even wrote a book about it in 2005

http://www.amazon.co...stina Hippisley

Democorruptcy
If you say "Democorruptcy" quickly, it sounds a bit like "Democracy". In a "Democracy" people vote for politicians who represent their interests. In the UK's "Democorruptcy" people can only vote for expense fiddling thieving MPs who are in the hip pocket of big business and the finance sector.

Governbankment
A "Governbankment" is a Government that has no line between itself and banks. It diverts public money (our taxes) to private companies (banks). George Osborne's Help to Buy Bail Banks, will see our taxes go to bankers to cover their losses on mortgages that default. The UK's Governbankment will even pay bankers "reasonable repossession fees" on Help to Bail Bank mortgages that default.

The Funding for Lending Scheme (FLS) is stealing from savers to make them pay for crimes by bankers. Via lower interest on savings, all the bank fines for PPI, LIBOR, interest rates swaps, etc. are being paid by savers so that bankers can keep pocketing bonuses. 

"We need to make a really big change: from an economy built on debt to an economy built on savings" - David Camoron Jan 2009
"Printing money is the last resort of desperate governments when all other policies have failed" - George Osborne Jan 2009
- So what do Camoron & Osborne do? Print money and leave interest rates at 0.5% when inflation is over 5%

If it is asserted that civilization is a real advance in the condition of man -- and I think that it is, though only the wise improve their advantages -- it must be shown that it has produced better dwellings without making them more costly; and the cost of a thing is the amount of what I will call life which is required to be exchanged for it, immediately or in the long run.
http://classiclit.ab...en-Part-2_4.htm

I want to tell you my secret now.... I see debt people


#10 Gone baby gone

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Posted 10 July 2012 - 06:58 PM

Has one woman ever done more for the Portugese property market?

She even wrote a book about it in 2005

http://www.amazon.co...stina Hippisley


Looks like she wrote the review of the book too ;)

#11 Democorruptcy

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Posted 10 July 2012 - 07:00 PM

Looks like she wrote the review of the book too ;)


On a freelance journalist database, specialising in overseas property investment

http://www.journalis...tina-Hippisley/

Democorruptcy
If you say "Democorruptcy" quickly, it sounds a bit like "Democracy". In a "Democracy" people vote for politicians who represent their interests. In the UK's "Democorruptcy" people can only vote for expense fiddling thieving MPs who are in the hip pocket of big business and the finance sector.

Governbankment
A "Governbankment" is a Government that has no line between itself and banks. It diverts public money (our taxes) to private companies (banks). George Osborne's Help to Buy Bail Banks, will see our taxes go to bankers to cover their losses on mortgages that default. The UK's Governbankment will even pay bankers "reasonable repossession fees" on Help to Bail Bank mortgages that default.

The Funding for Lending Scheme (FLS) is stealing from savers to make them pay for crimes by bankers. Via lower interest on savings, all the bank fines for PPI, LIBOR, interest rates swaps, etc. are being paid by savers so that bankers can keep pocketing bonuses. 

"We need to make a really big change: from an economy built on debt to an economy built on savings" - David Camoron Jan 2009
"Printing money is the last resort of desperate governments when all other policies have failed" - George Osborne Jan 2009
- So what do Camoron & Osborne do? Print money and leave interest rates at 0.5% when inflation is over 5%

If it is asserted that civilization is a real advance in the condition of man -- and I think that it is, though only the wise improve their advantages -- it must be shown that it has produced better dwellings without making them more costly; and the cost of a thing is the amount of what I will call life which is required to be exchanged for it, immediately or in the long run.
http://classiclit.ab...en-Part-2_4.htm

I want to tell you my secret now.... I see debt people


#12 Deckard

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Posted 10 July 2012 - 07:06 PM

$1680 a month to live in a ghost town - a steal.


:D +1
A new life awaits you in the Off-World Colonies! The chance to begin again, in a golden land of opportunity and adventure!

#13 Democorruptcy

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Posted 10 July 2012 - 07:11 PM

$1680 a month to live in a ghost town - a steal.


Rent advertised at $1,700 big fan of Phil and Krusty so offered $1,680 instead of the $700 that would have got it?

Democorruptcy
If you say "Democorruptcy" quickly, it sounds a bit like "Democracy". In a "Democracy" people vote for politicians who represent their interests. In the UK's "Democorruptcy" people can only vote for expense fiddling thieving MPs who are in the hip pocket of big business and the finance sector.

Governbankment
A "Governbankment" is a Government that has no line between itself and banks. It diverts public money (our taxes) to private companies (banks). George Osborne's Help to Buy Bail Banks, will see our taxes go to bankers to cover their losses on mortgages that default. The UK's Governbankment will even pay bankers "reasonable repossession fees" on Help to Bail Bank mortgages that default.

The Funding for Lending Scheme (FLS) is stealing from savers to make them pay for crimes by bankers. Via lower interest on savings, all the bank fines for PPI, LIBOR, interest rates swaps, etc. are being paid by savers so that bankers can keep pocketing bonuses. 

"We need to make a really big change: from an economy built on debt to an economy built on savings" - David Camoron Jan 2009
"Printing money is the last resort of desperate governments when all other policies have failed" - George Osborne Jan 2009
- So what do Camoron & Osborne do? Print money and leave interest rates at 0.5% when inflation is over 5%

If it is asserted that civilization is a real advance in the condition of man -- and I think that it is, though only the wise improve their advantages -- it must be shown that it has produced better dwellings without making them more costly; and the cost of a thing is the amount of what I will call life which is required to be exchanged for it, immediately or in the long run.
http://classiclit.ab...en-Part-2_4.htm

I want to tell you my secret now.... I see debt people


#14 papag

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Posted 10 July 2012 - 07:17 PM

Quote
they don't want to rent to locals as the Gov makes it hard to evict them when they wont pay

This is exactly whats happening in Spain to many Brits who rent out to Spanish who also wont or cant pay and get no help fron the authoritys.We have 3 familys in our complex who enjoy all the facility's of the community and pay f all apart from the first months rent which gets them in then its free :angry:
Money printed is like money from Heaven for the Bankers, however it leads the rest of us to the gates of Hell.

#15 homeless

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Posted 10 July 2012 - 07:27 PM

20k to rent a flat in a low wage country like portugal

who the hell is this idiot.

its not that they wont rent to the locals, the locals aint bloody stupid to pay about 10 times the usual rent, thats whats wrong.

but lets just sit and giggle at their stupidity




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