# buying in this economic climate



## PaulandSue (Apr 27, 2011)

Hi everybody
Just wondered what peoples' considered thoughts are about buying in Portugal with the current Eurozone crisis??
Should we wait, or buy now, or what???

Thanks
Paul


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## silvers (Sep 22, 2008)

It's always a gamble but there are some real bargains out there at the moment.


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## andyp65 (Sep 22, 2009)

As Silvers says there are so many bargains out there, it is still very much a buyers market. What i would say is this, if you are looking for a home then forget about the Eurozone crisis buy the porperty of your dreams, if, however you are looking to buy as an investment then you need to think carefully, prices are in general lower at the moment but if the Euro is plunged into further crisis and actually disappears, everything will be revalued meaning overnight your 'investment' could be downgraded, if it is to be your home for the foreseeable future then to a great extent it doesnt matter what goes on around you.


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## Janina k (Nov 30, 2011)

*Reply*

Paul and Sue

We have just got our place and we move in in the coming months. Before we found our house we planned for years our move because at our age we need to get it right first time. Ours will be our main home and our home in the UK will be let to friends so we have that as an investment and an added income. So whatever you do plan well and it should be a good move but as has been said if you are planning for an investment be careful. 

It has taken Janina and myself now many years of coming here four times a year to get where we are now. We both also feel that the years of holidays we have spent here have helped us gain the knowledge we needed to make our move stress free and enjoyable. So i will say good luck but plan well.

Fred


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## anapedrosa (Mar 21, 2011)

I have to agree with sound advice offered above, and would add one comment. In your planning, run through a scenario where you decide you need to return to your home country. Consider your options if the prices do drop.

We purchased land last year, are planning our build to start later this year, and will move permanently next year. 

I continue to research various sources, on this site asking questions and reading other people's questions is very helpful.


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## Patchwork (Nov 1, 2011)

We are considering buying in Portugal (western Algarve) but would like to rent for October and November this year so that we can really look around and make sure that we pick the right area. We want to winter in Algarve, summer in our house in France and rent out our house in UK....any advice gratefully received.


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## anapedrosa (Mar 21, 2011)

Patchwork said:


> We are considering buying in Portugal (western Algarve) but would like to rent for October and November this year so that we can really look around and make sure that we pick the right area. We want to winter in Algarve, summer in our house in France and rent out our house in UK....any advice gratefully received.


Sounds wonderful.


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## canoeman (Mar 3, 2011)

Patchwork, sounds great, the one thing you really have to put into the equation is which is your country of Residence as that greatly affects your tax situation.

I would echo everyone's else advice, currently I wouldn't consider buying for investment situation is too unstable, but if you want to make Portugal your home, certainly a good time exchange rate has perked up, and there are certainly some bargains out there, just further to anapedrosa's advice, if you do decide a return to UK might happen, then selling is not easy which is why there's bargains out there.


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## Catx (Apr 15, 2009)

I totally echo all of the posts above. If you have cash and can afford to take a risk on a property that you really love, then it can be a good time to go for it. If it will be you only home and if you are in any way strapped, then stay well clear.

I am Irish, so I don't need to take currency fluctuations into account, at least not for now!

Like other posters here, I still have a property in my country of birth (Ireland) which helps to pay the bills here. 

I spoke today with an estate agent here, in the Eastern Algarve, who I trust very much, and this year is very difficult, especially in the rental market, to the point that they will not accept any more properties for rental at the risk of losing their reputation for being good managers of rental properties. I appreciated the honesty, but these are scary times if you are hoping for rental income. 

Anybody who is considering selling up in their home country to move here, needs to be very comfortable income and/or cash wise.

Tread carefully. Yet, if it is possible and realistic, go for it!!


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