Find out what’s happening in the property investment arena both in the UK and internationally
Algarve Property To Become Some Of Europe’s Most Popular
September 24, 2009Article by Ray Withers
Algarve property is set to become some of the most popular in Europe in terms of Brits and the Irish buying property abroad. Portugal has always been in the top 5 but on a regional basis, the lower prices on offer had attracted more of Portugal’s predominantly investor fuelled market.
That is all about to change according to overseas property investment consultancy Property Frontiers.
“The Algarve has fallen from the limelight in recent years because prices grew so rapidly, and as Portugal was primarily being looked at by investors, the Silver Coast began to offer more potential for rapid price growth.
Now that Portugal is becoming popular with lifestyle buyers turned off by Spain, the Algarve, Portugal’s top tourist destination is coming back into the limelight,” said Ray Withers Property Frontiers director.
Sourcing manager Ben Jeffries said:
“With the Algarve being Portugal’s favourite top-end tourist destination, the property market has not been affected to the same extent as the rest of Portugal or indeed the rest of Western Europe.
“The first wave of ‘baby boomers’ are coming to retirement age and this is putting upward pressure on housing demand as home buyers and tourists alike come to the Algarve.”
“The golf facilities in the Algarve cannot be ignored,” he added.
Property Frontiers are currently marketing several high quality developments of villas and apartments for sale on the Algarve. Their prices start from £155,000 for a studio apartment in Forte Do Vale. The apartments come with the availability of 100% finance.
“Located in Albufeira, the city is the unofficial tourist capital of the Algarve and has a fantastic year-round tourist market,” said Jeffries about Forte Do Vale.Next up is the Academy apartment and villa development offering 1 bedroom apartments on the Algarve’s championship golf course in Vale da Pinta from £200,000.
These apartments, which are being offered at a 20% discount, also come with 100% finance on offer as well as the following added extras:
* Free membership of 2 championship golf courses worth €30,000
* Mortgages with low interest rates + 5 year interest only
Finally is the Condominio Panorama development, offering 2 bedroom apartments at the 20% discounted price of £242,173.Having looked at what is on offer at Property Frontiers, the fact that one can buy property on the Algarve for not much more than the Solver Coast will undoubtedly be another factor in its increasing popularity.