Are you planning to sell your property in the Algarve, Portugal quickly? The property market in Portugal suffered a great deal in the 2008 crash, but has since recovered smartly. Property sales hit a record high in 2021, and the numbers for 2022 are expected to be even higher. There was also a 12 percent rise in tourism despite the pandemic.
The Algarve is the most sought after area in Portugal for foreign investors looking to buy a second home here. The Algarve stretches for 90 miles. There are two towns at the centre of the Algarve – Vilamoura and Albufeira. The towns of Lagos and Portimao are well populated as well.
The Algarve coastline is very much unspoiled as the Portuguese government has taken care not to allow any over-development. The beaches here are beautiful and remind you of those at Spain’s Costa del Sol. You can get to this region directly by flight from the UK and land at the Faro Airport. The flight would take just a couple of hours of your time.
The Algarve gets bright sunshine all through the year. It has a world class infrastructure, excellent communication systems and world class amenities. The restaurants and golf courses in the Algarve are up there with the best of them.
Portugal is a very safe country, with an impressively low crime rate. The Algarve is one of the safest places in the world. It’s inclusive and diverse, and perfectly safe for women, children and people of all races, sexual orientations and religious affiliations.
The healthcare facilities here are second to none. Portugal has some of the best hospitals in Europe and the doctors here are second to none. The cost of healthcare is very affordable as it is largely subsidised by the government.
The cost of living in the Algarve is about 60 percent lower than that in the UK. This makes it a perfect retirement destination to pensioners from the UK, Germany or the United States. Indeed, there are a number of French retirees in the Algarve, who have purchased homes here. Not only can they benefit from the comparatively low cost of living, they also appreciate that the taxes in Portugal are among the lowest in Europe.
Home prices in the Algarve are very reasonable. One can buy a beachfront villa here for €200,000 or less. Prices have been rising fast over the last 2 or 3 years since the Portuguese economy got back on track, but they are still below the 2008 pre-cash levels. Indeed, don’t be surprised if you find a lovely one-bedroom apartment just a couple of hundred metres from the beach for just under €90,000.
Property sales have been up 30 percent over the past year in the Algarve. There’s a lot of confidence in the region as a number of new businesses and real estate developments are launched almost daily. The economic crisis of 2008-09, which reached its peak in 2013, is well and truly over. It’s a good time as any to have a property for sale in the Algarve, Portugal.