Algarve
Central areas of the Algarve around Albufeira, Vilamoura and
Faro have been heavily developed in terms of tourism and the
property market for several decades. Property for sale here is a
mix of apartments in standard high-rise blocks, found on the market
from upwards of around €100,000, family townhouses and small villas
in purpose-built complexes costing from around €300,000, and large,
exclusive properties in high-end communities costing from €650,000.
The latter are usually found in the so-called 'Golden Triangle'
resorts such as Quinta do Lago and Vale do Lobo, most famous for
attracting well-known footballers and golfers.
As a result of a recently completed motorway from Faro, the
quieter, opposite ends of the Algarve are now also opening up to
tourists and investors. The west is slightly wilder than the
eastern end, with fine sand beaches and areas of national park.
Towns such as Lagos and Burgau still have a very Portuguese
character, despite attracting many tourists in the summer months.
Development has only recently started to happen on any kind of
scale and is generally high end and low key. Prices which were once
quite low by Algarve standards are now beginning to rise sharply.
To the east, on the border with Spain, much of the new-build is
happening around the town of Tavira where there are nearby golf
courses. A lot of development here is on a less sophisticated level
than further west, with much of the property being aimed at the
cheaper end of the market.
Lisbon
The capital is a beautiful and bustling city with a great deal
of historic attractions, multi-cultural restaurants and bars and a
fabulous river location. It has been allowed to become a little
frayed round the edges but a programme of EU improvements has
started to give it back its self respect. Prices here are showing
only minimum rises at present but the feeling is that the time is
ripe for its fortunes to improve. Small studios in nice central
locations can still be found for less than €150,000, while
apartments in converted palaces sell from around €350,000
upwards.
The Lisbon Coast
Within 30 minutes of Lisbon are the coastal magnets of Cascais
and Estoril, popular with those who live in Lisbon as a weekend
retreat and with those who choose to live there and commute into
the city. Offering a slightly quieter but nonetheless vibrant
nightlife than most tourist resorts, Cascais' downtown provides
late night bars and restaurants and the Marina is very modern in
its shopping and nightlife. Estoril meanwhile plays host to the
largest casino in Europe. In general, these resorts have a
sophisticated reputation and property (and its prices) reflects
this. However it is possible to find cheap property in the less
sought-after areas of Cascais for less than €100,000 as there are a
lot of older apartment blocks in the town.
Silver Coast
The coast from Porto to Lisbon has become an alternative to the
Algarve for those who want sun and sea. Though the weather is not
as temperate as the southern coast, the region is popular with a
mix of ex-pats and Lisbonites, who come to spend weekends and
summer holidays here. Development has started to increase in this
region and several large residential and golf complexes, such as
Praia d'el Rey and Bom Successo. Appealingly all development is
monitored and controlled to preserve the area's natural
surroundings. Prices in these upmarket resorts are now comparable
to areas of the Algarve.
The Alentejo
People who want to live in Portugal but find the coast too
expensive are moving out to this large rural area. Most of them are
in search of village properties or rural farms to buy and renovate.
The area is a large wheat producer and is becoming increasingly
recognised for its red wine. This rise in reputation is making
Alentejo's vineyard land some of the most expensive throughout the
country. Property prices have increased a lot here in the past two
years, even though there is little local demand. Many claim that
the quiet villages in this region offer a chance to see the real
Portugal.
Top