The value of Portugal property could be set to surge over the coming years, as the country’s ‘silver coast’ region looks set to fulfil its long-held potential.

That is the view of Frank Crowley, a director of Azure Overseas, who has suggested properties in the silver coast region could soar by as much as 50 to 75 per cent in value over the next five years, thanks to the impact of the recession on neighbouring Spain.

Speaking to Write About Property, Mr Crowley explained development has been much slower in Portugal than in Spain and as a result has been less affected by the global recession.

Furthermore, as the economy begins to pick up Portugal is well-positioned to make the most of the upturn and attract new investors, pushing up demand for property in the country.

"Portugal is already a close second to Spain with British lifestyle buyers and we think that its popularity will continue to grow in the coming years," he added.

Meanwhile, the Spanish property market has begun to show some signs of recovery of its own, as commercial property in the country has begun to pick up, reports Property Wire, citing property consultants CB Richard Ellis.

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