Atlantico Village, Portugal on the Silver Coast near Pedra do Ouro, good area?

[Grange]

Has anyone else bought here or know anything about the area?

I bought an apartment mainly as an investment and was going to keep it for 3 to 5 years. Paid 185k
What type of rent would a two-bed apartment achieve on the Silver Coast in the high season and would there be much of a rental market outside of the summer months.

 

[Lollix]

If you are thinking in terms of 3 to 5 years, then the word 'investment' doesn't really apply. The Silver coast has a mostly local customer base, and they aren't buying right now and are unlikely to get involved for the next few years. You are probably facing a slice of negative equity, which shouldn't bother you if you want the place for your own use -- its a nice part of Portugal despite colder winter weather than the Algarve.
Rental prospects? Not great, maybe a small bit in high season if you can find a good agent locally to manage it for you. Won't pay the mortgage if you have one, but might just pay the fixed costs.

 

[Slim]

Has anyone else bought here or know anything about the area?

I bought an apartment mainly as an investment and was going to keep it for 3 to 5 years. Paid 185k
What type of rent would a two-bed apartment achieve on the Silver Coast in the high season and would there be much of a rental market outside of the summer months.

I'm not having ago, but what made up your mind to buy there, if you do not know the answers to the questions you have raised?

Slim - genuinely interested in the area.

 

[Grange]

Thanks for the reply Lollix,

I went to Portugal two years ago with a friend that was buying an apartment and bought one too without thinking. Don’t really want it now but have paid a 20% deposit.
Can anyone recommend any banks in Portugal?
Thanks

 

[Slim]

I went to Portugal two years ago with a friend that was buying an apartment and bought one too without thinking. Don’t really want it now but have paid a 20% deposit.
Can anyone recommend any banks in Portugal?
Thanks

Fair enough, a candid reply. It's a very nice part of Portugal. The golf courses are excellent, food and drink is cheap. It may be cooler than the Algarve but that appeals to me. Good luck with it. Slim

 

[Homer]

What type of rent would a two-bed apartment achieve on the Silver Coast in the high season and would there be much of a rental market outside of the summer months.

Hi Grange

You should have a look at www.HolidayHomesDirect.ie. I advertised my property in the Algarve earlier this year and got about 7 weeks bookings (in spite of not being on the site until mid March), which covered my fixed costs for the year.

I also found them very helpful and friendly to deal with.

If nothing else, you could look on the site to see what similar properties to yours are charging.

You could also have a look at www.ownersdirect.co.uk, which will give you better access to the UK market. It depends how much you want to rent it.

Regards
Homer

PS: I have no connection with HolidayHomesDirect other than as a customer.