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VIDA IMOBILIÁRIA
Rua Gonçalo Cristóvão, 111-6º
4049-037 Porto
Tel: 22 339 94 00
Fax: 22 205 80 98
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VI NEWS
After prolonged discussions, the location of Lisbon's new international airport has finally been settled: the new facility will be located in Alcochete, on the southern bank of the Tagus.
The Confidencial Imobiliário Index, which measures market value growth in the Portuguese housing market, has disclosed figures for September which indicate that the decelerating trend has been reversed. The recorded 1.1% growth rate is up 0.1 percentage points on the previous month's figure.
PORTUGAL
After a period of economic deceleration when property market operators took a cautious approach to new developments in certain market sectors, things are now looking more promising. Market activity picked up at the end of the year suggesting a brighter future ahead.
GREATER LISBON
The Greater Lisbon area is Portugal's major office market and contributes with the largest share to the market's total Gross Lettable Area (GLA). The area will also contribute with the largest share to the GLA due to become available over the next few years.
The retail market in the Greater Lisbon area continues to attract the interest of investors. Throughout last year, several retail complexes opened to the public and several new developments are due to open before the end of 2009.
GREATER OPORTO AND NORTHERN PORTUGAL
The retail sector is one of the key sectors in the property market in Greater Oporto and the northern region. New schemes opened in recent years and there is a whole series of pipeline developments due to open to the public over the next two years.
Urban rehabilitation has become a major driving force in the property market in northern Portugal. The largest towns in Oporto's Metropolitan area are currently designing and implementing plans to rehabilitate their historical centres and are taking steps to involve the private sector in such endeavour.
ALGARVE
The Algarve region is one of Portugal's main tourist destinations and the first market for second homes. It is also a favourite region for international investors. In recent years, large investments in luxury tourism developments have been made in the Algarve, contributing to a decisive improvement in the quality of supply. When it come to the luxury market, the Algarve region is currently the most expensive region the in country.
SETÚBAL AND ALENTEJO
Some of the largest tourism developments in Portugal will be located along Costa Azul, the stretch of Portugal's Atlantic coast between the Setúbal region and Alentejo. Meanwhile, several investors have been discovering new investment opportunities in Alentejo's hinterland, in areas that until a few years ago seemed all but forgotten. A case in point is Évora, where two new shopping centres and several tourism developments will be completed in the near future.
WESTERN REGION
In recent years, the property market in Costa Oeste (the Western Coast) has grown significantly, especially in the residential tourism sector. Because the region is close to Lisbonand strategically placed with respect to major urban centres in Portugal, several investors have decided to put their money in this region facing the Atlantic Ocean. Residential and tourism developments associated to golf courses that are capitalising on their proximity to some of the best beaches in the country have multiplied in recent years.
AGENTS AND CONSULTANTS
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