I have never heard of anyone that bought near Ota and are struggling to sell. because there will now be no Airport, where did you hear this. (dont forget that Ota to an international airport is around 20 mins already! so why would it make a huge property price increase in ota or infact a decrease when the airoport location changed, doesnt make any sense.
Iam not sure that anyone would buy a place near the airport (or a proposed airport) and knowingly pay more for it, what is the advantage, noise, congestion, polloution etc, i wouldnt want to live near one. even if the properties were half price!
I can understand if its in an area where there is no Airport for 100 miles, then a new Airportt will open up a region to overseas buyers, but this Location or Ota dont fit this as both locations have an international Airport 20 mins from it.
Hi Derek
In 2005 the Portuguese government announced, (the Democrats), the construction of the new International Airport. The plan was to use Ota air force base area. Several people invested in the nearby areas. The plan included a TGV station at Rio Maior, fast trains to Lisbon and Porto. Property prices in the Oeste area went up. After the government changed to the Socialists, They changed the location for the new Airport, 18 months after, (more or less). Councils and private investors lost a lot of money with this change. Property prices went down nearly 20% in the last 3 years, if you believe the local news. Not long ago another meeting was held between the government and local councils, (and investors), where the idea was to find solutions to compensate for that lost. They promised to compensate the region with other investments. No work has started for the new Airport, and knowing that, the Socialists won the last elections, but they don´t have the majority they need, and there is a “half decent” chance to fall before the end of his term. If the government changes again, everything is possible. The new Airport will bring Jobs, investments, new developments, better roads, better public transports, and more police officers on patrol, etch… if this doesn´t make the land and property prices go up, what does it? Ota is 45 min away from Lisbon airport, the main Oeste population areas are between 15 and 30 min away from Ota, further up. Believe me, we don´t have a half decent train service here, and the buses are…
John999