Despite the general slow-down in the Portuguese property market, there are plenty of lenders ready and able to finance purchases by non-residents. However, the loan-to-value (LTV) ratios are lower and the interest spreads are higher than a couple of years ago, with affordability is a key issue.
On 11th June, Onyria Golf Resorts opened Onyria Palmares Golf, a 27-hole course conceived by Robert Trent Jones Jr. and situated at Palmares in Lagos.
The works on the new golf course were initiated in January, 2009, and represent an investment of 10 million euros.
The inaugural event, a two day “shotgun” tournament, took place on 11th and 12th June. The first day was dedicated to tour operators and journalists, and the second day to corporate guests of Onyria Golf Resorts. Golfers were able to speak directly to the architect Robert Trent Jones Jr., who was present on both days of the event.
