As Portugal recovers from the financial crisis, however – one that saw the country among the hardest hit in Europe and the Algarve’s property prices fall by up to 50% – the traditional, prime locations of central and western Algarve rule once more.
Along the Algarve coast, where we focus all of our Portuguese activity, resorts such as Quinta do Lago and Vale do Lobo command a premium over nearby off-resort properties – there is a cachet to buying there, and rental demand is higher, because of their excellent locations, sports and lifestyle offerings. Such resorts also offer a sense of security, which is a key issue for buyers now.
The Algarve’s west coast – the huge, untouched surfing beaches, farmhouses on large plots in the hills – is attracting buyers seeking escapism; those who may find the central Algarve’s resorts too busy for their tastes.
After a period in which the cranes stopped and barely anything over €1m sold, buyers are investing in the Algarve again. They are buying, extending and improving. Increased liquidity is returning with the good quality stock selling quickly and sensible pricing after years on the market.