As the pound has continued to rise against the euro, and with excellent discounts already available, the interest in the quality overseas property market has increased significantly in recent weeks. Major developers are reporting a sharp increase in both enquiries and sales as top quality property has become increasingly affordable and as UK investors now see real investment potential on offer.
For example, a studio property at Oceanico's fabulous, newly launched, Belmar Spa and Beach Resort was on the market at the end of 2009 for €165,000 or, at the exchange rate of the time (around 1.06) approximately £155,000. The exclusive TSG price for the same unit is just €123,250 which, at todays exchange rate of just under 1.20, equates to only £102,708, an effective reduction in price of almost 34%. And this is for a state-of-the-art, fully furnished unit in one of the most exciting, beach-front Spa resorts in the Algarve!
Other property, from one, two and three bedroom apartments, or villas on any of our three partner resorts have all seen similar, dramatic price reductions with two bedroom golf resort apartments down from £264,622 to just £187,000 and 3 bedroom golf side villas from £513,679 to just £363,000.
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