Madeira property opportunities; OECD says Portugal unlikely to need to restructure debt

Portugal & Madeira news from Paul Abbiati:
OECD: Portugal unlikely to need to restructure their debt

Reuters reports:

“Spain and Portugal are unlikely to need to restructure their debt and a plan to stabilise Spain’s savings banks is likely to work, the head of the Organisation for Economic Cooperation and Development (OECD) said on Thursday…”

“One country may need restructuring, that is Greece. I’m not worried about Spain and Portugal; they are treated unfairly by the markets,” Gurria told Reuters Insider television on the sidelines of the annual World Economic Forum meetings in Davos….”

Link: http://www.reuters.com/article/idUSWLA382820110127

Madeira property opportunities

‘A Place in the Sun’ article:

“Portuguese bank believes that Madeira can capitalise on its image as a quality tourist destination to maximise sales of holiday homes..”

“Jorge Botelho Moniz of Banco Espirito Santo, a Portuguese bank offering mortgages in Portugal, at up to 80 percent loan-to-value, believes the Madeira property market is well positioned to bounce back, due to a restricted supply of holiday homes, in comparison to mainland Portugal.

Natural beauty of Faial, Madeira
“Madeira is still relatively unknown as a holiday home destination,” said Moniz. “There are just a few developments targeting the foreign market, but the existing ones offer high quality units in exclusive breathtaking locations and a variety of services included.”

He added: “Overall the ‘Pearl of the Atlantic’ is still a well kept secret, limited to a few discerning international property buyers. However I expect the situation to change rapidly with existing developments achieving maturity in sales and new ones coming into the market.”

Link:
http://www.aplaceinthesun.com/news/feature/tabid/131/EntryId/636/Madeira-property-opportunities-for-discerning-buyers.aspx

6 thoughts on “Madeira property opportunities; OECD says Portugal unlikely to need to restructure debt”

  1. We find the house prices in Madeira to be very affordable compared to the price of housing in Vancouver, Canada. And the quality and cost of living lower, too, so for North Americans, Madeira offers value for money.

    Reply
  2. Brenda Azores give better value. Way with Con/Dems going and Europe they going to be a clash and UK will be a outsider. I see buying not wise at the moment. I seen cheep housing in USA it depends where you want I suppose.

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  3. In my lifetime I have bought a property in 3 countries and tried to do it low-cost. Madeira is like anywhere else if you go to an estate agent its going to be more expensive than starting negotiations for a property with non-estate agents for example family, friends. Like anywhere else there are still bargains around…if you ask as many people as possible and be straight and say this is my budget and that’s it…and put everything in writing..It’s also much easier to refurbish/renovate/decorate than before. When we re-built our house here many years ago…no large DIY stores or low-cost furniture stores existed …sometimes we had to go to 5 shops for 5 things…now everything can be found under one roof.

    Paul Abbiati

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  4. Abbo Pleased things went ok for you, As you well aware people do start to look at estate agents. I been studying houses for 6 years. They a lot here not dropped in price in Madeira. I forgot to add they very good value houses in north Portugal. I taken note
    what you said.

    Reply

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