Algarve in the top 10 of most expensive streets in Portugal

Latest reports show that the Algarve features twice in the most expensive streets in Portugal. Not surprisingly both are by the beach and offer lavish sprawling private villas.

Algarve in the top 10 of most expensive streets in Portugal

Algarve has long ago settled itself among the hottest real estate areas in Portugal and a recent indicator, once again, comes to reinforce this idea. The property portal Idealista has published a list of the ten most expensive streets in the country. The Algarve is “represented” by Loteamento Fonte Santa, in Quarteira, and Vale do Lobo.

The first and second places on the list are held by Lisbon. In Rua do Salitre, right in the historic city centre, the average cost of a property is around €2.9 million. Third place was awarded to Loteamento Fonte Santa, with €2.4 million as an average price. Vale do Lobo is the 10th, with an average of €1,5 million.

Fonte Santa Algarve Portugal

Algarve: quality tourism and real estate investment

Algarve is not exactly a new destination for tourists from Britain and all Europe, neither for real estate investors. The region celebrated last year the 50th anniversary of the Penina Golf Couse, designed by late Sir Henry Cotton, a big fan of the year-round golf conditions of the southern Portuguese region. Just a year before had opened the Faro Airport, and then the international trend started.

Up until today, Faro is the only important international airport in mainland Portugal apart from Lisbon and Oporto, which clearly demonstrates the economic relevance of tourism in Algarve. It’s not a coincidence that only Lisbon, Oporto and Algarve make this top-10 list.

The achievement of having 2 of the ten most expensive streets of the country also points towards the high-quality profile of the region. Unlike other tourist areas across Europe (notably in Spain), “The West” (the original meaning of the word “Algarve”, of Arabic origins) has kept a high-quality profile. First as a tourist destination, and then – and as a consequence – as a real estate destination.

Algarve as a quality destination is a real political issue in Portugal. Pressure from grassroots movements has contributed to this goal. Environmental groups and some political parties have long complained about deregulated developments and wild trends in urbanisation and construction. Although some straps of Algarve have been “lost” to massive urbanisation, most of the region was able to preserve its natural, unique feel.

Moreover, civil society is currently tackling, successfully, the effort from economic groups to start offshore drilling for oil, in Algarve. Projects are rejected as they’re considered to be a threat both to the environment and to the quality of the region as a tourist destination.

The political consensus in the Portuguese society about the strategic importance of Algarve, and the ability to make decisions about it is also an important factor of improvement and valorisation of the local real estate market.

Vila Sol apartment for sale – Algarve property

Details on a Vila Sol apartment for sale. Modernised and perfectly located with wonderful views across the resorts gardens and swimming pools.

Algarve property – Vila Sol apartment for sale

Algarve property doesn’t come much better than this excellent refurbished top floor 2 bedroom Vila Sol apartment.  Always a popular resort, Vila Sol provides a highly lucrative rental return for owners with weekly rates in the high season of up to €200 per night.

Also an excellent choice for families. With a huge gated communal area, 3 swimming pools (one heated) and a restaurant / coffee shop.

 

Vila Sol Modern 2 bed apartment

This 1st floor modernised apartment is accessed via a private stair case and opens up to a stunning view straight from the door way.  The open plan living area has been tastefully modernised with a drop down fire place, light flooring and elegantly furnished. A brand new modern kitchen has been installed along with 3 modern bathrooms.

The large terrace has amazing views across the garden area and the top swimming pool. Ideal for enjoying early evening drinks with friends before taking a short walk to one of the great bars or restaurants in Vila Sol.

Vila Sol property owner benefits

As property owners in the Village Vila Sol, you receive membership cards which entitle the owner’s and their guests to 40% golf concessions, various discounts are the on site restaurants and the 5* Pestana Hotel.

Vila Sol location

Vila Sol is just 3kms from the Vilamoura marina. The wonderful promenade at Quarteira. As well as the wonderful Forte Novo beach.

As well as being in the heart of excellent attractions. You have two super markets just outside the entrance to Vila Sol. Both Pingo Doce and Continente can be found just down the road, about 1.5kms away.

For more information on this fantastic property email us HERE or call us on 0800 015 9997 UK / +351 289 313 325 PT.

To see more property in Vilamoura vist our website HERE

 

Brexit Não Afastou Britânicos De Adquirirem Propriedades No Algarve

Brexit e o Investimento no Algarve

De acordo com o estudo mais recente da Confidencial Imobiliário, os dados mais recentes do SIR – Turismo Residencial mostram que o Reino Unido continuou a apostar na compra de propriedades turísticas em Portugal.

Em 2016, esta foi aliás a nacionalidade mais representativa entre os investidores estrangeiros, com um peso de 31% no número de transações concretizadas por não residentes no país.

Sendo que quase metade das propriedades vendidas no Algarve em 2016, no chamado ‘triângulo dourado’ (Quinta do Lago, Vilamoura e Vale do Lobo), teve como compradores cidadãos do Reino Unido

De acordo com a Confidencial Imobiliário, “tal resultado confirma que o Brexit não afetou negativamente a procura de habitação turística em Portugal por parte dos investidores do Reino Unido, ao contrário do que seria inicialmente expetável como consequência económica e política decorrente do referendo que votou a favor da saída desta Estado da União Europeia”.

Propriedades no Algarve

Segundo a análise divulgada, “os britânicos não só protagonizaram quase metade das transações de origem internacional (46%), como atingiram o ticket médio de investimento mais alto, investindo cerca de 2,1 milhões de euros por operação. Este valor quase duplica os 1,1 milhões de euros investidos, em média, pelos chineses, que são o segundo país mais representativo nas aquisições internacionais neste eixo (quota de 13%)”. O SIR- Turismo Residencial é um sistema estatístico que abrange a atividade de compra e venda de propriedades de turismo residencial e que é desenvolvido pela Confidencial Imobiliário em parceria com a APR- Associação Portuguesa de Resorts, com o apoio do Turismo de Portugal.

Algarve property guides – Offshore Company

An overview of the offshore company buying process found in high value properties in the Algarve. Mostly in areas such as Quinta do Lago Vale do Lobo and the surrounding areas.

Algarve property guides – Offshore company purchase explained

When property within the Golden Triangle changes hands a fairly common practice is the necessary transfer of ownership not just of the property but importantly the holding Offshore company.  This is particularly common place within the Quinta do Lago and Vale do Lobo developments  where property values are generally in excess of €1,000,000.

What does it mean?

In simple terms, the property is owned by the off shore company and rather than the property itself changing owners, the company shares are transferred instead.  This of course eliminates the IMT and stamp duty levied on property transactions.  Buying costs are therefore limited to lawyers’ fees only.

IRG Property Portugal

Benefits of an Offshore company

A significant benefit of purchasing your Algarve property under the offshore company vehicle is without doubt the considerable saving in purchase tax.  In real terms this is a saving of c. 7% of the purchase price, a significant figure by any standard.

The tax payable on the sale of your property will also be different to that of private ownership. Presently non-residents pay a flat 28% on any profit following a property sale. This does not apply to properties owned offshore. The tax will be calculated in accordance with tax laws of your country of residence, and will be based on the sale of a company rather than a property.

Details of Offshore company ownership are not easily accessible, another main reason why it is employed on the higher priced properties. No property deed is exchanged so ownership is not made public.

So why doesn’t everyone buy an Offshore company?

There are costs associated with offshore ownership. Namely an annual fee levied by the managing agent for the company. This will generally be c.€2,000 per year to manage the annual filling of accounts and upkeep of the company.

2017 has seen a new tax introduced for the additional payment of IMI (property tax) on all offshore properties. This will be on top of the current IMI payments and will be another 0.4% of the fiscal value.

There will generally be an inbuilt capital gains liability with off shore properties. Although this is only applicable if the house is brought back on shore and sold out of the company, it is worth noting.

For more information on property purchasing here in the Algarve you can donwload our free Portugal Property Guide here.

Visit our Algarve property tips section for more great information

 

Casa Lily – Sao Bras de Alportel villa

Property Highlight featuring the lovely Casa Lily Sao Bras de Alportel. Stunning views, tastefully finished and a great price!

Casa Lily – Sao Bras de Alportel villa

Pool area
Casa Lily Sao Bras de Alportel

This beautifully finished 3 bedroom villa in Sao Bras de Alportel is a little gem.  The highlight of the property is the stunning views across the countryside. Every room in the house looks over garden and pool area. Something of a key feature for modern day buyers are views, so you’ll understand why we’ve highlighted this property.

Although you would technically describe Sao Bras de Alportel as fairly inland, this villa is situated in Soalheira. Just a short drive to both Loule center and Sao Bras. As such you are within 20 minutes of beach side resorts and the airport. All whilst having a countryside feel.

The property is set at the end of a private entry. Although not tarmac it is well established and will not wash away with heavy rains! The drive way has ample parking and entry to the property is on the same level. Making it easy for those with less mobility.

Entering the main hall way you have a small reception area and bathroom. This opens up to an elegant open plan living area. With living and dining area in the middle and a large fully fitted kitchen, which also has direct access to the pool area. There is also a bedroom on the ground floor and a fantastic conservatory. Which, due to the Southerly orientation, is the ideal spot for the winter months.

Upstairs are two good sized bedrooms, both en suite. Separated by a large hallway. These rooms have amazing views across the entire countryside. There are no nearby houses to the front the views are uninterrupted.

There is also a annex beside the pool which is used as a utility area and the plot expands further behind the pool and garden area, so there is potential to expand on the gardens if desired.

Property of this quality and price are fairly rare across the Central Algarve so viewing is highly recommended as it will surely sell soon.

For more information on this lovely property see below :

  • For a view of the outside of this villa please follow this link to our Youtube video – CLICK HERE
  • To see more photos of the interior vist our website – CLICK HERE

For more property highlights make sure to bookmark our site  http://www.portugalvillasandapartments.net

IRG property are leading property experts in and around the Golden Triangle area. Specialising on finding and negotiating the best possible properties for our clients.

 

Property highlight – Luxury Villa in Almancil Vale Formoso for sale

Property Highlight Luxury Villa in Almancil Vale Formoso for sale – Read about a stunning villa on the hillside in Almancil, Algarve for sale. By real estate broke IRG Property.

Property highlight – Luxury Villa in Almancil Vale Formoso for sale

Luxury Villa in Almancil Vale Formoso for sale. With all the fuss over contemporary design villas with their straight lines and clean open finishes. This tastefully finished villa offers a different take on elegance and charm.  Something that oozes throughout its delightfully free-flowing floor plan. Not to mention the rolling multi leveled gardens. All the whilst bathed in sun light with a Southerly orientation.  With a glimpse of a sea view it’s just about as idyllic a setting one could ask for.

The electric gates lead you up the imposing drive way. Which in turn forks right towards the double garages or straight ahead to the entrance.  The front door is something of a feature in itself at 3ms tall.  A tiled mosaic feature on the stair case leading up to the door fills you with a sense grandeur before even setting foot inside.

The property

The double doors lead onto the grand entrance hall.  From here you have a staircase leading down to the guest wing. Along with the basement, wine cellar and garage.  Whilst upwards you have the master suite with its exuberant bathroom. Featuring a grand shower, Jacuzzi bath and finished in luxurious stone and tile.  The master suite opens onto a huge terrace which looks across the countryside and the grounds. As well as the pool area. Bathed in sunlight it’s an excellent position to start the day or indeed end it.

Remain on the ground floor and you have a modern fitted kitchen with natural light in abundance. Direct access to the living area and also the hallway. With  the deck and pool area across the hall.  Into the living area, which is HUGE.  Inset lighting throughout is supported by three patio doors that lead directly onto the pool area. Whilst offering views to the gardens and beyond.  In the far corner of this regal themed room you also have a fireplace, ideal for those chilly winter nights.

Outside this property continues to impress. A large 10m x 5m heated swimming pool being the focal point. Surrounded by deck and a raised covered patio area.  There is a BBQ area and ample lush gardens on a split level with beautiful flower beds running around the entirety property.

This property is an ideal family home with everything one would expect in a property of this caliber.

View our video here or click-through to the website for more information – ID 3268 Vale Formoso.

 

Good property deal?

Is it only the sales price that constitutes a good property deal?IRG Property Portugal

A great question one should really think long and hard about before answering.  Of course for most buyers the simple response will be “yes, I want a big discount on the (asking)price”.  Are they wrong to think like this?

In some cases, yes, yes they are.  If the sales price is lower than average, lower than comparable properties in the same area then the price is good already, and that could be interpreted as a good deal based on the price.  The amount of negotiation on the advertised sales price is NOT a good indicator of how good a deal a buyer may be getting, let’s face it many properties are way, way over priced to offer discounts, that’s not a good deal (even though some buyers may believe it is).

Let’s look at an example ;

  • Property 1 : Sales Price €150,000 no negotiation is possible as the sellers must sell for this price.
  • Property 2 : Sales price €200,000 negotiable to €160,000, 20% “discount”

Assuming both properties are equal in every possible way, which one is the better deal?  Undoubtedly property 1 is the better deal, if there was even any hesitation in your thought process here please slap yourself.

Although a potential buyer may feel like property 2 is better value for money, due to the great discount they managed to negotiate this is a fake discount and they are in fact paying over the odds even with a 20% discount.

What’s clear with these situations is you need to trust your estate agent otherwise you’re likely to lose opportunities due to being unaware of all the facts in a transaction, like the example above.  Some agencies price the properties higher deliberately to allow for negotiation, and frankly this is sensible based on our hypothetical buyer’s mindset, but in those instances when the price is the price you must heed your agents advise and go along with what they say, if you don’t trust that advise find another agent simple.

Bottom line, yes the price is what constitutes a good property deal NOT the discount off the asking price don’t be confused.

Buying Algarve Property? – Vale do Lobo Property for sale

Vale do Lobo – The ultimate resort location

 

Vale do Lobo

 

Vale do Lobo is one of those places that has everything needed for that perfect holiday.  Pristine beaches, exquisite golf courses, private maintenance and security and a beach front entertainment center (known as the Praca) that has nightly entertainment in a beach front location. Great food great wine and something for all the family to enjoy.

Its one of the most popular destination’s we have for buyers looking to buy a property in the Algarve. Vale do lobo properties are are sure fire winner for investment and personal buyers. At present prices are at the lowest we’ve seen for years so the potential to snap up a bargain have never been better.   With beautiful villas available from €500,00+ the potential for high capital growth in this area is second too none along the Algarve.

We’ve seen a lot of properties selling in absolutely magnificent locations, whether it be front line golf or just stones throw from the beach all at half their original price.  In deed some of these properties offer the potential for redevelopment which can increase the gains by even more. As there are no more plots available for development in the prime locations near the front, the only option for builders or indeed those looking to create their own dream property is too buy an older property in Vale do Lobo and redevelop it, either by knocking it down and starting from scratch or remodeling the existing property using just the shell. This can, in some cases, increase the value exponentially.

Rental income generating from properties in this area is also incredible high and even the most dated of properties will fetch substantial income during the summer months.

Below are a few examples of what’s available in Vale do Lobo that offer incredible value packed with huge potential.

Vale do Lobo property for sale:

 

Seconds from the Vale do Lobo beach
Seconds from the Vale do Lobo beach

Vale do Lobo stunning remodeled villa

Vale do Lobo stunning remodeled villa
Vale do Lobo villa with extensions options
Exceptional villa with extension options

If you’re interested in buying a property in Vale do Lobo please take a look here on our website for a variety of different options : VALE DO LOBO PROPERTY FOR SALE

 

Vilamoura Property for Sale : Top Picks August 2013

Vilamoura Algarve – The Top 3 deals of the summer, see what everyone’s been talking about!

 

Vilamoura Algarve Property Sales : 3 of the best

With it’s huge marina, 5 top top golf courses, multiple luxury 5 star hotel’s and wonderful selection of restaurants summer night life and boutique stores Vilamoura property is a commodity that many have been investing in over the last few years and it doesn’t show any signs of slowing down. We’ve put together some of the most popular locations / developments in the area  right now:

 

Vila Rosa Golf Vilamoura – 1 & 2 Bedroom Apartments for Sale

Image Gallery (Slideshow)
Villa Rosa Golf Vilamoura

 

These luxury apartments which have been repossessed by the bank offer a tremendous location. Just a short walk to the marina and Falesia beach with golf course and sea views from each terrace.

Finished to a luxury standard and previous sold for over €400,000 these apartments represent a great investment and also come with preferential mortgage conditions for non resident buyers.

 

Click here for more information

 

Victoria Gardens, Vilamoura – 2 Bedroom Apartments for Sale

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Victoria Gardens Vilamoura

 

Built by the largest developer in Vilamoura, Lusort. Now reduced by up to a massive 50% for the remaining 10 apartments they are a fantastic deal. Complete with full builders guarantee and warranty peace of mind is assured. Overlooking the Victoria Golf course and just a short walk to the club house and the 5 star Tivoli Victoria hotel there’s enough close by to not feel isolated, although a car may be preferable to get to the marina and back otherwise there’s a great cycle track if you prefer the healthy route!

Click here for more information

 

 

Palmyra Villa Sol, Vilamoura – 2 Bedroom Apartment(s) for Sale

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Palmyra Villa Sol

 

Luxury ground floor apartments for sale, with extra bedroom along with stunning top floor apartments with private roof terrace’s in the most luxurious golf resort in the area. These apartments, which are offered for sale direct from the bank are just fantastic. Immaculately maintained condominiums with gated security, perfect for family holidays with the added incentive of huge rental income as well.

Click here for more information

Algarve Property : Cash Sales

 

The old saying “Cash is King” has certainly never been more apt than the past few years here in the Algarve property market.

With credit facilities making it harder to borrow those looking for the big discounts have resorted to good old fashioned cash.  In fact over 50% of the homes sold in the first 6 months of this year where bought and paid for in cash.

Now sometimes figures can be misleading when it comes to such sweeping statements as this, a shock I know!  As we are well aware of the ability to negotiate much better discounts, (sometimes up to 10 or 15% more than when a mortgage is required) when offering a cash sale with quick completion date, a lot of our time is spent helping clients get in a position to offer cash. This can and more often than not is, by taking out a loan on a property at home, whether in Ireland the UK, Sweden etc.. So the funds are already in place and ready to go although they are still effectively mortgaging to get it just not in Portugal.

If financing at home isn’t an option for you, then the next best option is to find out how much you can borrow here in Portugal and at least get a provisional idea on costs from a broker here so you can be relatively assured that if you make an offer you can complete relatively quickly with little concern of being rejected for your desired loan amount.

If you need any help with financing or any property related queries please don’t hesitate in contacting us.