Prime Algarve Property.
The southern region of Portugal, The Algarve which is one of Europe’s most popular tourist regions, it boasts some of the best beaches in the world, and its attraction is just as strong as Spain with its Mediterranean climate.
The Prime Algarve is part of a network of internationally invested destinations, it attracts lifestyle buyers seeking quality properties in a safe and secure environment, according to an article from Savills Spotlight “Prime Algarve Residential Market”.
While Portugal’s national housing market is seeing tentative improvement, the Prime Algarve has outperformed in recent years. This is in line with the recovery in the countries from which most of the Algarve source buyers are derived, most notably the UK. read more
In a most recent Savills blog “Prime Algarve Property sees rise in demand” it states: While Portugal’s national housing market has seen only tentative improvement in recent years, prime Algarve property has shown a marked upturn. In Quinta do Lago, for example, the very best properties have exceeded their pre-crisis peak, with sales volumes increasing by 70 per cent between 2014 and 2015.
The rise comes as many wealthy individuals find themselves fully invested in first-tier cities, where prices are at a high plateau, and are now looking at second-tier cities and leisure retreats like Quinta do Lago. An added advantage for prime Algarve, however, is that it did not see high levels of overbuilding in the run up to the market peak, consequently stock levels remained low, which has been a major driver of price growth as demand has returned. To read the blog in full cllck here
You May Also Enjoy
Understanding House Value in the UK: A Simple Guide
What does latent defects insurance cover?
Breaking Property News – 24/04/24
An average rate of 6% for the first time since November – Rightmove’s weekly mortgage tracker
Understanding Property Valuation: A Simple Guide