It may rank as the third most popular destination for UK buyers, but invariably most purchases in Portugal fall within a relatively small part of the country, the central Algarve. But a spate of properties coming onto the market in other parts of Portugal may be enough to persuade buyers to look further afield.
Recent changes to tax laws could also increase Portugal's popularity as a destination. The top rate of Sisa Tax (stamp duty) has been reduced to 6 per cent, and even less for properties below EUR500,000. Connie Vito of Quadrant Overseas Property says: "It won't be the deciding factor that makes potential buyers buy, but it certainly softens the blow of the euro's recent strength against the pound."
Her company is marketing several estates that could persuade buyers to bypass the Algarve. One, near Evora, has an asking price of pounds 1 million, and the Quinta do Crasto estate in Oporto, northern Portugal, is for sale at pounds 550,000. This vineyard has spectacular scenery and the nearest town is Castelo de Paiva, with the city of Oporto just a 50-minute drive away.
The estate was founded in the 18th century and produces its own award- winning vinho verde, yielding between 40 and 80 barrels annually. Along with award-winning wine, included in the estate is a villa with nine rooms, four bathrooms, two kitchens and wine cellar plus two cottages lying within 10 hectares of vineyard and four hectares of pine forest.
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