Could international money transfers to Portugal pick up a bargain?

Property investors might be tempted to make an international money transfer to Portugal in order to take advantage of low property prices.

According to the Royal Institute of Chartered Surveyors (RICS), the Portuguese property market saw prices drop further in January.

Indeed, the index for the country remained negative overall, despite activity and prices showing some improvement.

Josh Miller, senior economist at RICS, commented: "The main issue affecting the Portuguese housing market is weak demand, related to the near record high level of unemployment (10.9 per cent) and near record low level of consumer confidence.

"The Lisbon and Porto markets are faring comparatively better than the Algarve; in addition to weak demand, the Algarve is also experiencing increased home selling, which is putting additional downward pressure on prices."

International money transfers can help keep prices low by providing competitive currency exchange rates for people moving money internationally.

Click here to make an International Money transfer to Portugal

Posted by Sarah Pitton