MADEIRA REAL ESTATE AND THE EURO-ZONE CRISIS RECOVERY ONLY EXPECTED IN 2010.
The recession in the Euro-zone is a profound and long one. The European Central Bank predicts a recovery only in 12 months’ time and does not exclude the possibility of a new financial crisis in between if there is no economic growth. According to the monthly CEB reports published in Frankfurt, signs of positive growth are only expected towards the middle of 2010. In a recent declaration by the president of CEB, Jean-Claude Trichet expresses the effects of the recession will further contribute towards unemployment.
The lowest interest rate of 1% is considered adequate for the present economic climate as inflation on a medium term is set to decrease by poor economic activity. In Madeira Island inflation is reported to be negative at present.
In difficult times such as these investing in real estate seems to be the safest one that can be made. If you are thinking of buying real estate in Madeira Island, have a look at some of our portfolio of properties or email Tony and let us know of your specific requirements.