The cost of the global economic crisis is being seen in Portugal where the number of people turning to renting property is booming. As a result of people not being able to afford to buy a property, due to the loss of jobs and inability to get a loan from the bank, more people are forced to rent their accommodation.

This has meant an increase in the average rental price and property investors who have bought buy-to-let properties in Portugal are thriving in the business. If you are thinking about buying property in Portugal then you will be urged to do so sooner rather than later in order to make the most of the high returns and low purchase prices.

Popular places in Portugal such as the Algarve are expected to make the best returns, whilst Lisbon and Porto will not be far behind as both are popular with tourists as well as ex-patriots. The rental boom is expected to remain steady for at least the first half of the year.

For details of property for sale in Portugal, visit the Portugal listings on Rightmove Overseas. One way to save money when buying in Portugal is to use a currency specialist when transferring your pounds into euros to complete the purchase of your property. For more information on this, contact Smart Currency Exchange.

To understand the full step-by-step process to buying a property in Portugal, collect The Overseas Guides Company’s ‘Portugal Property Buying Guide’