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Portugal might offer stability for people buying property

People considering buying property abroad could find that the prices found in Portugal are more stable than in other western European countries, it has been claimed.

According to the Global Property Guide, prices in the Algarve only fell 4.4 per cent in the year up to September 2008, reports the Guardian.

The publication asserted that those considering buying property in Portugal should expect to pay about €120,000 (£171,000) for a small apartment.

Those looking for a sea view might expect to pay about twice this, the Guardian claimed.

Families looking for a villa to fit them all should expect to pay about €1 million for a detached home by the sea.

Among the areas recommended by the Guardian was the Estoril Coast, which features a number of popular destinations for those buying property in Portugal.

The Global Property Guide recently claimed that the housing market in Portugal is likely to continue declining for at least a year.

Buyers looking for holiday homes in Portugal could find that now is the ideal time to pick up a bargain in the Iberian nation as prices are waning.

This comes after Serge Cowan, managing director of Unique Living, asserted that prices in Portugal have “never been so competitive”.

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