A brief post about the value of Algarve property. Looking at various factors that could determine whether this is the case or not from experienced property brokers IRG Property.
Is Algarve Property good value?
A very subjective question, with many different answers depending on whom you ask. Generally speaking I would have to say yes Algarve Property is indeed good value for money. There are a number of reasons why we firmly believe this to be the case.
Firstly; property values have retained their value well throughout the financial crisis. A good indicator that there is demand for Algarve property.
Secondly; also somewhat tied to the first point, the strong demand for property in the Algarve makes your investment here somewhat safe. Although there’s no guarantee you’d make money here, it’s unlikely (unless circumstance’s forced you to sell at a market low) that you’d lose any. In fact we would certainly feel a profit would be made quite easily on any long-term owned property.
There are of course areas where prices are certainly way higher than other, less popular, regions of the Algarve. It’s here that perhaps the answer to the question “Is Algarve property good value” becomes a little more blurred.
Let’s take Vilamoura for example. A typical 4 bed detached villa with pool and garden of 1,000m2 will more than likely run you around 1,000,000 euros or more. The trend of late, is modern contemporary design and we’ve seen a number of these coming up around the golf courses, these will come in around 1.5m euros.
Now the debate most have is that the area drives the price and this is of course true. If you want a lovely state of the art villa in one of the most sought after areas in the Algarve you are not going to find a bargain, far from it. But you will get a unique location in a fantastic state of the art home, even if you could buy a similar home a few minutes way for half the price. Therein lies the answer to the question and in the end it will come down to the individual. I suppose more conclusively, presently there’s a shortage of properties in Vilamoura (and other high demand locations) so the value is clearly there for most otherwise wed be like Spain and have properties sitting dormant and unfinished for years!
This 3 bedroom, totally refurbished, apartment in the heart of Vilamoura is an absolute bargain at just €140,000. In a prime location just 10 minutes walk from the marina and the beach it’s ideal for a holiday home or for investment purposes. This area rent’s particularly well and is well established with well developed landscaping all around the many different neighbouring properties as well as many grand detached villa’s. As well as being a nice scenic walk to the marina there’s also a number of little restaurants bars and shops in between so you never have to go far if you want a quick sandwich or Super Bock away from the busy marina.
Inside the property has been completely refurbished from top to bottom, the area’s are a good size and offer plenty of space in each bedroom, along with built in wardrobes. The master bedroom is also en suite. All the appliances are included and are also brand new.
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
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.
Victoria Gardens, Vilamoura – 2 Bedroom Apartments for Sale
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!
Palmyra Villa Sol, Vilamoura – 2 Bedroom Apartment(s) for Sale
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.