Sub-prime crisis will not affect Portugal
21 October 2007
Investors in the Portuguese property market have been advised that they are unlikely to be hit by economic problems in the US.
Property consultant Carlos Moedas stated that the country's banking system was too well-run and cautious in its lending policies.
Speaking to the Portugal Resident, he stated that this made a market crash triggered by the US sub-prime mortgage crisis highly unlikely.
In fact, he stated that he could not foresee any price slides in the next few months and predicted that conditions would soon become ideal for property investors.
Mr Moedas commented: "I can tell people that a good opportunity to buy will come quite soon, within the next two years."
He added that people with money to invest in Portuguese property would be "laughing all the way to the bank" in a few years time.