Wealthy Brazilians are visiting Portugal in record numbers

Brazilian tourists coming in record numbers
31/10/2009

Portugal is consolidating its position as the second preferred European destination for Brazilian tourists, a senior tourism official said Friday.

Paulo Machado, head of the European Tourism Commission in Latin America, told Lusa that Portugal had followed France as the prime destination for Brazilian holidaymakers in Europe since June 2007. In 2008, Portugal drew nearly 460,000 Brazilian tourists who stayed an average seven nights in the country and spent an average 192 per day, 34 more than the overall average, Machado said. Machado spoke to Lusa on the sidelines of Latin Americas biggest tourism fair in Rio de Janeiro.

Source The Portugal news

Another new retail park coming to Portimao

Western Algarves largest shopping centre unveiled
31/10/2009

Last Thursday the largest shopping centre in the Western Algarve, Aqua Portimão, was publicly unveiled at a press conference attended by regional dignitaries, future shop owners, and the media.

Excluding the Jumbo hypermarket which will soon take shape within Aqua Portimão, the centre represents an investment of around 106 million.

Set to open at the beginning of 2011, it comprises 132 shops, 7 key stores and more than 20 restaurants all spread over three floors.

Covering an area of 35,500 square metres (including the 11,750 square metre Jumbo hypermarket) it will further provide 1,800 parking spaces in a three-story car park.

Being located in the Algarves second largest city, Aqua Portimão expects to cater for more than 188,000 residents from a catchment area of 30-minutes driving distance.

During summer that number is expect to increase four-fold.

Aqua executives aim for the shopping centre to offer a leisurely experience as well as being an area of commerce. This objective is being translated into reality with a modern, contemporary architectural design based on quality, comfort and well-being.

At the forefront of architects concerns are environmental and sustainability issues. The centre has been designed to be one of the citys lowest energy-consuming buildings and will directly create 1,500 jobs.

Numerous well-known national and international brands will be found within Aqua Portimão, including modern and fashionable local concepts.

Created by Sua Kay architects and co-owned by Klépierre and Generali Immobiliaire, Aqua Portimão is being constructed by Bouygues Real Estate and promoted and managed by Ségécé Portugal.

According to Aniceto Viegas, General Director of Bouygues Real Estate, Aqua Portimão is a commercial area that will provide answers to the needs of the local population and fit naturally within the dynamic development that the region has been experiencing.

Aqua Portimão confirms Klépierre, Ségécé and Generallis will to invest in Portugal, and is a matter of pride for us as we have noticed that even in moments of adversity that we have been through, we have still created more jobs and contributed to the commercial dynamics of a region that is in full development, added Luís Pires, General Director of Klépierre and Ségécé Iberia.

Recently re-elected Portimão Mayor, Manuel da Luz also praised the future Aqua Portimão by saying It is an investment that represents a municipal strategy to invest in quality and will create yet another point of attraction for the City.

This project had to be one of excellence as Portimão wants to invest in quality, he added.

Source The Portugal news

Fresh investments on the way for new 5 star hotel on the Algarve’s West Coast

Aljezurs first luxury five-star hotel
31/10/2009

Aljezur will have the first five-star hotel on the West Coast, which will use the National Park as an attraction for guests.

In a region where five-star establishments are mostly concentrated in the Eastern and Central Algarve, the West Coast will soon boast its own luxury development. The hotel will be built in the Canal Malhões area, near the Canal beach, and will have a total of 118 beds, a Spa, several pools (one of which will be a biological pool) and an area with restaurants, bars and an esplanade.

In order to diminish the impact of the bu

Aljezurs first luxury five-star hotel
31/10/2009

Aljezur will have the first five-star hotel on the West Coast, which will use the National Park as an attraction for guests.

In a region where five-star establishments are mostly concentrated in the Eastern and Central Algarve, the West Coast will soon boast its own luxury development. The hotel will be built in the Canal Malhões area, near the Canal beach, and will have a total of 118 beds, a Spa, several pools (one of which will be a biological pool) and an area with restaurants, bars and an esplanade.

In order to diminish the impact of the building within a wilderness area, as it is to be located in the Southwest Alentejo and West Coast Natural Park, some areas of the hotel will be below ground, such as the Spa, which will have a four kilometre walkway to the beach. According to the projects architect, João Favila, the idea of the hotel is to involve clients with the surroundings and not just the hotel. Instead of being a hotel that enjoys the scenery, we believe the landscape should be an experience said the architect, who also spoke of the difficulties of building the complex in a deserted area. Another of their ideas to not spoil the surroundings is the hotels beach bar, which will be totally mobile and brought back to the hotel at the end of every day.

The predicted investment for the luxury hotel is of 14 million and the Madeira based Leacock Investments group will be in charge of the construction, its first venture in continental Portugal.

ilding within a wilderness area, as it is to be located in the Southwest Alentejo and West Coast Natural Park, some areas of the hotel will be below ground, such as the Spa, which will have a four kilometre walkway to the beach. According to the projects architect, João Favila, the idea of the hotel is to involve clients with the surroundings and not just the hotel. Instead of being a hotel that enjoys the scenery, we believe the landscape should be an experience said the architect, who also spoke of the difficulties of building the complex in a deserted area. Another of their ideas to not spoil the surroundings is the hotels beach bar, which will be totally mobile and brought back to the hotel at the end of every day.

The predicted investment for the luxury hotel is of 14 million and the Madeira based Leacock Investments group will be in charge of the construction, its first venture in continental Portugal.

Source The Portugal News

New high speed train connection from FARO to Spain coming despite recession

High-speed train for Faro
31/10/2009

Within days of unveiling his new cabinet, which included a new minister for transport and public works, Prime Minister José Sócrates has now revealed the intention to build two additional high-speed rail links in Portugal, one of which will see Faro linked with the rest of Europe.

Coming at a cost of 2.9 billion euros, the Algarve capital will be linked with major high-speed rail networks in Portugal and Spain, a Government report has revealed.

While the idea in itself is not new, details of the report, published this week in the Diário Económico show that Prime Minister Sócrates will make the building of these high-speed rail links one of his cabinets priorities, despite the current global economic crisis.

During his inaugural speech after the new Government was sworn in, the prime minister made it clear that he would not dilute plans to invest in excess of 60 billion euros between now and 2020.

Besides the Lisbon airport, new motorways and hospitals, the Government is looking to spend in excess of ten billion euros on the high-speed rail network in Portugal.

The first line, linking Lisbon with Madrid, is expected to be complete by 2013 and will come at a projected cost of 2.15 billion euros. That same year, the line linking Oporto with Vigo in Spain will also be concluded, having cost the Portuguese taxpayer an additional 845 million euros.

Two years later, the Lisbon-Oporto line will be finished and will also be the most important nationally, transporting an expected one million commuters a month and countless tons of merchandise between the nations two major metropolitan centres.

This particular line is expected to require an investment of 4.5 billion euros.

The two new lines contained in Government proposals, will see Aveiro in central Portugal connected with Salamanca in northern Spain (costing 2.3 billion euros), while the second will see Faro linked to Lisbon via Évora and the rest of Spain via Huelva.

Estimates are that the train travelling from Faro will take under 30 minutes to reach Huelva and will have a maximum speed of 300 kilometres an hour, though it remains unclear where the train will cross the Guadiana River and what infrastructure will be used to do so.

The 200 kilometre trip to Évora will take slightly longer than would be expected, covering the distance in a mediocre 90 minutes.

The building of these two lines was first discussed at international level back in 2003 during the annual Iberian Summit, where they were agreed to in principal.

They were later included in a resolution presented by the Council of Ministers in 2004, with current opposition leader Manuela Ferreira Leite, the Finance Minister at the time.

In the meantime, new Transport and Public Works Minister António Mendonça is a staunch advocate of the potential benefits that could be reaped from major public investments and is already pushing to have these new lines approved.

It is believed the minister will be working to the ensure environmental impact studies are conducted as soon as possible on these two new proposed lines in order to secure European funding for these high speed rail links as soon as possible and have them concluded within the next eight years

Source The Portugal news

Townhouse with sea views for sale with 45K price reduction

2 Bedroom Townhouse near Praia da Luz

Price: 220,000 Property Ref: EAV-581 Reduced from 265,000! This 2 bedroom townhouse is set in a beautiful development near Praia da Luz with spectacular sea views . With a spacious living/dining room, fully equipped kitchen with access to the terrace on the upper floor and 2 bedrooms with ensuite bathrooms on the lower level. Just a minutes walk to the breathtaking swimming pool with uninterrupted seaviews. Double glazing and central heating have been installed making this ideal all year round accommodation. http://www.eavillas.com/property.php?id=2734&title=2-bedroom-townhouse-near-praia-da-luz

Reduced villa for sale in Sao bartholomeu de Messines, Algarve

Bargain villa with price reduction for sale in Messines

Price: 220,000 Property Ref: EAV-639 Reduced from 250,000 and accepting offers! Recently renovated single level farmhouse is set in a quiet rural hamlet 4km from Messines in the beautiful Algarve countryside. Comprising a spacious open plan lounge, dining room, fitted kitchen, two double bedrooms (one en-suite) and family bathroom. The plot is fully fenced with easily manageable gardens and has the added benefit of a 1,000m2 paddock. The house has been restored using traditional methods and is full of rustic charm throughout. There is also the possibility of creating substantial extra living space if required. http://www.eavillas.com/property.php?id=3074&title=reduced-by-12-and-fully-renovated

Offers wanted on front line townhouse near Praia da Luz, Algarve

3 Bedroom Semi Detached TownHouse near Praia da Luz

Price: 475,000 Property Ref: EAV-582 NOW ACCEPTING OFFERS! This luxury 3 bedroom semi-detached townhouse is in an elevated position, set in a beautiful development near Praia da Luz with spectacular sea views . The rooms are bright and spacious and have balconies and terraces overlooking the communal gardens and spectacular swimming pool. With a fully fitted and equipped kitchen and large open plan living room and dining room this property would make an ideal holiday home. http://www.eavillas.com/property.php?id=2735&title=3-bedroom-semi-detached-townhouse-near-praia-da-luz

Large villa for sale in golden triangle, Algarve

Faro (Algarve), Loulé

Price: 945,000 Property Ref: EAV-860 New to the market this spacious villa is situated within the Golden Triangle and close to the beach, restaurants and numerous golf courses. There is a superb master suite on the first floor with large dressing room and beautiful bathroom. On the ground floor is another ensuite bedroom, plus two twin rooms which share a bathroom. The modern lounge has a feature, suspended fireplace, separate dining area and fully fitted kitchen equipped with Miele appliances. The villa has dual aircon/heat units throughout. There is a garage for 2 cars and a large driveway. A very competitvely priced villa. A great opportunity http://www.eavillas.com/property.php?id=4017

Modern villa for sale in Santa Catharina – East Algarve

Modern delight for sale in Santa Catharina

Price: 1,950,000 Property Ref: EAV-840 Description This stunning, achitectural master piece looks as if it has been here forever, as it blends into the local countyside so perfectly. The villa blends old with new harmoniously. This is the perfect hideaway for those who love luxury and all modern features but who want to chill in the peaceful Algarvian hills. The villa has been designed with two independent halves link by a beautiful, glass topped hallway. To the right the master accommocation and to the left for the guests. Oil fueled underfloor heating and air-con throughout, solar panels for the hot water, alarm system and much more. Must be seen to be fully appreciated. One of the most beautiful homes on the market. http://www.eavillas.com/property.php?id=3995&title=modern-delight

UK house prices rising

House prices higher than year ago House prices will start to plateau, the Nationwide says UK house prices were higher year-on-year in October – the first annual rise for 19 months, the Nationwide has said. Property prices were 2% higher in October than in the same month the previous year, with the average home costing £162,038. But the pace of monthly price rises has eased – going up by 0.4% – and the building society said that values could plateau in the autumn months. This could be due to more sellers returning to the market, it said. Supply The recent rises in house prices have been driven in part by the lack of properties on the market, despite more people looking to buy. Month-on-month prices were up for the sixth consecutive month in October, the Nationwide said, but it explained that a “more natural level of stock” for sale could be coming onto the market. The quarter-on-quarter data, considered a more reliable indicator of house price movements, dropped slightly from 3.8% in September to 3.4% in October. “A moderation in the rate of house price inflation was to be expected, as the very strong monthly increases seen over the summer months were unlikely to be sustainable over the long-run,” said Nationwide’s chief economist Martin Gahbauer. He said the prices had jumped higher than consumer expectations in recent months, which made a deceleration in price rises even more likely in the near future. Recession The UK remaining in recession had mixed implications for the housing market, Mr Gahbauer added. A deeper and longer recession would lead to higher unemployment and more constraint on workers’ wages, which would put the brakes on the recovery in the housing market. However, it would mean that interest rates were likely to remain at a record low “well into next year”, he said, which would keep a lid on repossession rates. “Mortgage affordability will remain relatively favourable for new and existing borrowers,” he said. This scenario would assist first-time buyers if they were able to raise the deposit to secure a mortgage. Home loans have gradually become a little more accessible and competitive in recent weeks. Source http://news.bbc.co.uk/2/hi/business/8332861.stm