Villas in the Algarve
The East Algarve has recently become a good value for money area with Portuguese and foreign buyers investing in villas in the Algarve.
Most of the buying activity lately has been to the west of Algarve’s capital, Faro.
The East Algarve is still the best place to get your value for money property wise.
The culture, weather, beaches and calm living are some of the attractions to move over and so are property prices at the moment.
There are excellent property deals you can get now like a one bedroom, one bath, kitchen, living/dining room holiday apartment for sale as low as €65.000, while that same property in Albufeira, in Central Algarve, pending on location of course, would be two or close to three times much.
You can find many villas in the Algarve at this time for sale and well located that are priced to go.
Various East Algarve developments of numbered villas with shared pool can be found and fully equipped with 3 bedrooms and these villas are being sold starting off at only €215.000, in Albufeira for instance you would be looking at a comparable property initially at €370,000.
Quinta do Lago had luxury Algarve villas at 1.2 million, now with the crisis crunch prices have come down to half.
There is no doubt that in Portugal, especially the Algarve has been one of the more favored holiday and investment destinations for some time, but historically it has tended to fall into the shadow of Spain which has attracted significantly more tourists that become property owners and property developers over the years.
Bad publicity, the recession and high unemployment rate have not been good for Spain.
Portugal came out of recession unofficially in the second half of 2009, leaving behind the UK, Spain, Greece and other well known countries.
Portugal’s increasing economy is currently attracting the attention of foreign investors but as ever there are large variations in property price activities across the country and you need to do your homework to ensure you know what you are investing in to.
Talk to real estate agents to find the good deals and you will see your investment go up in value.
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