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Algarve set to soar

Friday, March 05, 2010

Source: Catherine Deshayes

Property investors considering the Algarve have received some very encouraging news this week.

Ryanair recently announced it will open its 39th base at Faro in March 2010 with 6 based aircraft and 14 new routes (28 in total) being launched. The popular budget airline will operate over 200 weekly flights to/from Faro in an investment of over $400 million in the airport.

The new routes have been launched to help satisfy increasing demand for easy, affordable access to the region from across Europe. Portugal has a strong and sustainable tourism demand with 11 million visitors in 2009 (WTTC) and annual growth of 3% forecast until 2017.

The new routes which include Faro to Birmingham, Kerry and Knock will make the Algarve even more easily accessible from the UK and Ireland, a good indication that the region will see an increase in tourism numbers which in turn will generate higher demand for quality accommodation in the region.

This is good news for the recently launched Gotel an apart-hotel or hotel room investment opportunity perfectly located in the sought after western Algarve, overlooking the spectacular Praia Tres Irmaos at Alvor. The hotel is owned and operated by the Pestana Group, Portugal's largest hotel and leisure operator, with a 30 year track record and thus assuring the future success. The hotel itself has a 15 year operating record.

Steven Worboys, MD of the specialist overseas property investment company Experience International, stated: "The Gotel presents a unique opportunity to invest in a boutique hotel in Portugal's highly sought after Algarve region. This project represents a next generation approach to property investment; apart-hotel rooms are widely regarded as a first-class turnkey investment product that are fully managed for the investor and require minimal involvement."

Source: www.property-for-sale-in-portugal.co.uk