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Laura

Guess Which Country Is Leading The World In Property Price Recovery?

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According to the ink & paper version of Portugal News, it's Portugal!

However the online edition (which claims to be exactly the same) doesn't say that. http://www.the-news.net/

After official figures revealed a fortnight ago that the Portuguese economy had emerged from a year-long recession, comes yet another sign that the country, despite constant claims to the contrary by experts, is firmly on the road to recovery.

Latest evidence of the country side-stepping what many ‘experts’ predicted would be a real estate crash, comes from the respected Global Property Guide. In its latest report published this week, it says that Portugal is one of only seven countries in the world to report increases in house prices for the second quarter of the year, while the building industry reported double-digit growth.

After a dismal end to last year and an even worse start to 2009, the Global Property Guide this week said that Portugal, along with a handful of other countries, had emerged from the house price slump.

This comes despite the fact that most countries suffered sharp house price falls from last year to the end of the second quarter of 2009, meaning the general situation across the globe remains negative. The Global Property Guide explains it uses price-changes after inflation, thereby attempting to give a more realistic picture than the (more upbeat) nominal figures usually preferred by real estate agents.

After experiencing declines in 2008, house prices in Portugal, China, Australia, New Zealand, France, Sweden and Hong Kong rebounded during the latest reported quarter, Q2 2009.

These seven countries joined Israel, Switzerland, Indonesia and Norway (countries which recovered faster, that is, before Q2 2009) in the list of countries in recovery. “Average house prices in the Algarve, Portugal, at €1,429 per square metre, were up by two percent during Q2 2009. House prices in Portugal as a whole rose 1.01 percent during Q2, and were down only 0.43 percent on the year to end-Q2 2009, compared to -7.24 percent during the year to end-Q2 2008. New construction orders in Portugal increased by a staggering 12.3 percent during Q2 2009.

In a related story, it has been revealed that property in Portugal remains the number one most searched for destination by Britons to buy a home abroad based on country page views, and property views, on homesoverseas.co.uk.

Portugal property enquiries have increased month-on-month since the beginning of 2009, having started the year as the fourth most searched for destination to buy a property overseas.

The website states that “in spite of the global economic downturn, enquiries for properties overseas for sale remain firm, confirming the desire amongst Britons to own a home abroad remains as popular as ever.â€

Explaining the shift towards Portugal by Britons looking to purchase a home abroad, homesoverseas.co.uk said that Spain’s woes, such as a string of property scandals, corruption, oversupply of housing, and dodgy legislation, such as Valencia’s ‘land grab’ law - has led people to look for property in neighbouring Portugal.

I'm looking at the Global Property Guide & I can see nothing of this. Maybe there are two Global Property Guides?

I'm tempted to change my handle to Hamishette Da Silva & irritate the feck out of everyone even more than I do now.

Edited by Laura

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According to the ink & paper version of Portugal News, it's Portugal!

However the online edition (which claims to be exactly the same) doesn't say that. http://www.the-news.net/

I'm looking at the Global Property Guide & I can nothing of this. Maybe there are two Global Property Guides?

I'm tempted to change my handle to Hamishette Da Silva & irritate the feck out of everyone even more than I do now.

remember....no underwear under that kilt please Laura.

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remember....no underwear under that kilt please Laura.

I bought eldest son the complete kit some years ago.

Then OH pointed out we could buy a really good used 4wd for around the same.

More from that Global Property Guide

The house price boom that swept through most of Europe and the developed world from 1995 to 2006 missed Portugal. From 2001 to 2006, average property prices rose 100% in Spain, compared to a mere 17% in Portugal.

:blink:

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Guest DissipatedYouthIsValuable
remember....no underwear under that kilt please Laura.

I've always preferred something to take off under a plaid skirt.

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My brother has lived in both Spain and Portugal -and says the Portuguese seem much more sensible hard-working, business-like - not the passionate mediterranians that the Spanish are. The got unlucky under their fascist dictator Franco-a-like, but have slowly been recovering since then.

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My brother has lived in both Spain and Portugal -and says the Portuguese seem much more sensible hard-working, business-like - not the passionate mediterranians that the Spanish are. The got unlucky under their fascist dictator Franco-a-like, but have slowly been recovering since then.

Who? Spain or Portugal?

Anyway, Salazar was no pinko.

p-o-p

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