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derharper

Central Portugal

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just bought a property in central portugal, anyone got any advise on this area (tomar) before i spend huge sums rebuilding the place?

we like the area for us to stay in but would be reasuring to know money spent will have agood return too

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just bought a property in central portugal, anyone got any advise on this area (tomar) before i spend huge sums rebuilding the place?

we like the area for us to stay in but would be reasuring to know money spent will have agood return too

Can you give a bit more detail?

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the area is ribatejo region, closest town to us is tomar,

the property is an old farm with several buildings that we are going to convert.

should be around 300square metres of construction when finished. pool terraces etc.

trouble is this will all cost. even though labour rates for builders there is very cheap 8 euros per hour and materials are relativly cheap. i am concerned that there are new build villas near me for less than 300,000 euros.

although we love the area and are happy to use the place as a holliday home and posssibly rent it out, i would welcome some info from anyone that knows the market in that area, it does appear the older character homes do fetch better prices than new builds if rebuilt to a high standard.

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I don't know if this helps - but at least it may add more information.

While holidaying in southern Portugal this last month I spent some time with an English EA who lives and works as an EA in Portugal.

She said last year - 2005 - was absolutely flat for her in the south with no sales at all and few enquiries. She recently found out that it was the same for her colleague in central Portugal and that their boss - who owns their EA company - also had no sales at all last year.

She said this year started with lots of enquries but no sales yet, though she is hopeful. She feels the problem is overpricing - that sellers became over-optimistic and kept raising their asking prices when in fact the demand was no longer stronger enough. I think that is another way of saying that - in her opinion - the going prices would have flattened out if sellers had not raised their asking prices thinking 2005 would be like 2004. She gave as an example, one German guy who builds green and who was asking E300k for a place that she felt would have sold at E280k. I don't know the place so can't comment.

What I noticed, this time and last time I was there, was that there is a lot of property for sale, from coastal appartments to rural farmland and houses. But it doesn't seem to move. Apparently, the Portuguese often have little debt and lots of equity and so can sit on an unsold property for several years in the hope that the right price offer comes along.

I also got the impression (while driving the length of the country) that there was more for sale in the south than in the north and little for sale in the centre. But that have been a fluke of the route I drove. In the centre I thought I did see rather more commercial property for sale but that may simply have been that there is more commercial property there (east of Lisboa) than there is in the south or north.

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Apparently, the Portuguese often have little debt and lots of equity and so can sit on an unsold property for several years in the hope that the right price offer comes along.

From my experience of living in Portugal this may well be true. However, I think it might be generations rather than years waiting for an offer. If you look around any Portuguese provincial town you will find a fair few impressive town houses looking derelict.

I was in Tomar about 5 weeks ago actually - one of the nicest towns in the region. I did check the prices, didn't seem super cheap to me.

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From my experience of living in Portugal this may well be true. However, I think it might be generations rather than years waiting for an offer. If you look around any Portuguese provincial town you will find a fair few impressive town houses looking derelict.

I was in Tomar about 5 weeks ago actually - one of the nicest towns in the region. I did check the prices, didn't seem super cheap to me.

Out of interest how is living in portugal? Can you compare to the UK?

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Interesting that you bought a place and are only now asking for views on the area. Was this an impulse buy fuelled by sunshine, tranquility and vinho verde ?.

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no not an impulse buy, we had spent 3 years touring all of europe in a motorhome looking for a place to buy a old house, in 'our' opinion the ribetajo was the place that fitted all our needs. it is perfect for us, what iam interested in finding out is about resale, should we come to sell the house in the future, even although we both love the area and the property, its allways nice to be reassurred by others advise and opinions before spending large sums

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no not an impulse buy, we had spent 3 years touring all of europe in a motorhome looking for a place to buy a old house, in 'our' opinion the ribetajo was the place that fitted all our needs. it is perfect for us, what iam interested in finding out is about resale, should we come to sell the house in the future, even although we both love the area and the property, its allways nice to be reassurred by others advise and opinions before spending large sums

If you do a quality stylish job you will do well always I think. Put in a few interesting design elements do differ from the new builds.

I am in a similar position to you looking to find a place to move to in Europe. I lived in Valencia for 3 years then the US for 12. Have been back in the UK 2 years and can't stand it. Have been looking at France but central Portugal also sounds interesting. Are you planning to live there full time? What attracted you to the area?

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we found the area to be just what we were looking for, not touristy (tacky) plenty of interesting towns villages, stunning scenery etc, lakes rivers, mountains,

good links to lisbon & porto. easy jet fly to both.

at the moment we will be spending a lot of time there as we are building the house,

in the uk at the moment been back 6 weeks to sell a couple of things, should be back to portugal in a week or so,

standard of living for us in portugal is far better than we have here, as very low cost of living. eating out etc.

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Out of interest how is living in portugal? Can you compare to the UK?

I ask myself why I came back every day!

Also at the end of the day you'll never be Portuguese and in a country where a lot of things are based on contacts this matters.

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I ask myself why I came back every day!

Also at the end of the day you'll never be Portuguese and in a country where a lot of things are based on contacts this matters.

Do you mean the UK or Portugal? You prefer the UK?

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property available for around 20,000 euros. small country cottages can be bought in central portugal for as little as 20,000euros

also a good source of information on living, working and buying property in central portugal

www.gekkohomes.com

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
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      • Even
      • up 2.5%
      • up 5%



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