EVEN as the United States is struggling from a housing crisis, properties across the Atlantic in Portugal are certainly booming. Portugal, long been relegated as an underdog as compared to Spain when it comes to luring in tourists from other parts of Western and Northern Europe, has now come of age. The country of unassumingly simple folks is now catching up to its neighbor in the Iberian Peninsula down south as far as tourism is concerned. Portugal, a relatively modest country embedded in Catholic values, is slowly opening up the possibility of putting up nudist beaches by the Atlantic.

This is a competition to the many nudist beaches splashed along the Mediterranean coastline of its giant Iberian Peninsula neighbor. Hoteliers have also relentlessly started putting up casinos in Portugal. One of the newest hotel developments in Portugal is the 280 million euro resort in Royal Obidos Golf and Spa Resort along the country’s famous Silver Coast. Aside from the hotel, the development will also witness the rising of five-star apartments and villas in the huge 336-acre seaside campus of the hotel. And here’s the catch – all materials used in the construction are eco-friendly. Portugal is definitely going green this time. There beaches have long passed the blue flag or eco-friendly accreditation of the European Union yet largely unrecognized by fellow Europeans who still favor Portugal. It is hoped that with the opening of this new hotel haven, Portugal will seize the European tourism market from Spain.

Another advantage would be the natural part of it – the climate in Portugal is similar to that enjoyed in Spain. The Mediterranean climate is characterized with a very sunny summer with no precipitation at all and temperatures are just fine for British vacationers at 18 to 22 degrees Celsius. Statistics have further showed that more and more British expatriates, whose demographic range from the 50s to the 60s, prefer a more relaxed life where Portugal is abundant of such as its numerous fishing villages. This is in stark contrast to the crowded and oftentimes noisy beaches in Spain where the crowd of mostly teenagers dominate.

The combination of these factors have contributed much to the burgeoning housing industry in Portugal not affected at all by the ongoing United States mortgage crisis. Many holiday homes have been erected here just to cater to Western tourists who eventually end up buying these homes.

It must also be noted that each industry of a certain economy must be synergistic with one another. Portugal is certainly not an exception. Because of the booming real estate industry in Portugal, lending facilities there have likewise boomed too. In fact, there is a Irish lending venture now starting its business in Portugal with an initial capital of 50 million euros. The plan of the company is to invest all the 50 million euros in commercial properties around Portugal. They will then borrow 150 million euros to gain some leverage in their investment. Since the company plans to go public in Ireland, most Irish people can now gain access to some of the first class hotels in such tourist districts as Algarve or Praia da Luz.