I have a good friend who's been earning a living renovating old properties in Spain (specifically Barcelona and other parts of Catalonia) over the last few years. He's now started to look further afield and has just returned very excited from a visit to Lisbon. He feels it's a similar opportunity to Barcelona four years ago.

He's already found a few possibilities and has asked if I'd like to invest with him. I've done this in the past with a Spanish project and it's done quite well, but we're both under no illusions that Spain will continue in the same vein over the next few years.

I was wondering if anyone else had any opinions regarding Lisbon? I'm just starting to do my own research on this and am particularly interested in what knock on effect there may be in Portugal if the Spanish market (and indeed it's whole economy) continues to deteriorate.

My wife is from Lisbon & I've been dabbling in property there for many years. Some things to consider.

Portuguese generally like new build flats over renovations - there are many stunning houses in Lisbon that no-one wants.
The economy is quite weird - the country is not exactly booming and the general population has a fairly low income. However, there is a sizable middle class of professionals who have money and will pay up for genuine quality.
Be aware of the implications of the new airport at Ota - its way outside the centre and its not clear that decent train links to the centre will be completed with the airport.
UK buyers tend to buy around Cascais/Estoril - not cheap areas.
If you are after UK buyers you should think about the Portuguese market relative to the UK market - in the Algarve a massive amount of purchasing has been done thru MEWing UK property which I don't think is sustainable.
You will find it easy to get decent builders for structural work but very difficult to find builders/decorators who are used to doing a really professional finish.

Mr Cheese,
If I weren't such a Germanophile I might have easily become a "Portyphile?"
I love the whole area from Lisbon up to the Minho. Cascais would be a wonderful, yet pricey, place to spend my nether years. I currently have no contacts in Portugal and have a good friend desperate to make contact with an English speaking, estate agent who hasn't just set up to sell developments and has re-sales and fixer uppers on their books. Can you advise on one?

Yeah, keep an eye on your kids.

anyone interested in central Portugal to live or for investment, take a look at the gekkoportugal site which contains lots of very good info on the region, it also has property adverts on the site, may give you an idea what is available in central Portugal.
www.gekkoportugal.com

As it was said before here in Portugal you will see many old but so charming houses, flats that no one wants for now. At least Portuguese people. They would rather buy something new. I live in Aveiro and I see so many beautiful, typical, charming houses that are on sale or that are inhabited. My friends are Portuguese and they prefer to buy new buildings. But I know that soon they will be demand for these properties, they are in the center of the city. Some of them could make fantastics lofts.

I decided to work as an independant real estate consultant in my living area. Aveiro, Porto, Espinho, Costa Nova, Vagos, Barra, Server De Vouga and I hope i will help foreigers to get the best deal at the time they buy.

I bought a Flat last year for myself and I took one month holiday to come to Portugal, to bike inside Aveiro, to visit about 3 to 4 flats per day from so many differents agencies, from builders, owners. An then, only after my personal market study, after about 40 visits I made my move and it was a great deal.

I just want to help other people do the same. Any questions email me :-)

Hope you will come to Portugal, enjoy the Potential in every thing and enjoy life here.

Take care.

Sebastien