Property in Portugal remains popular

Portugal’s beautiful coastline has made it a long favourite with Brits looking for a second home in the sun. But where does one look for coastal property in Portugal that is a good investment?

The Algarve

Mention buying property in Portugal and luxury developments with pools on the Algarve is what comes to most people’s minds. Famous as the home of more than 30 of Portugal’s 60 plus golf courses, the Algarve is located at Portugal’s southern tip and has more than 150 kilometres of sandy coastline. It is a popular destination for tourists in summer, when average temperatures top 80°F. The most desirable areas in the Algarve have traditionally been between Faro, the administrative centre for the whole of the Algarve region, Albufeira, a ‘once upon a time’ fishing village which has expanded since the 1960s into a major holiday resort, and Loule, a cosmopolitan town with white sandy beaches. Collectively, this is often called the ‘Golden Triangle’ – and one will certainly need plenty of gold to buy a property in this area. Indeed, paying 550,000 euros (about £370,000) for a two-bedroom property is not unusual and villas can set you back at least 2 million euros (about £1.35 million). It is almost impossible to find a bargain in these areas, but that doesn’t mean that there’s no money to be made; villas and apartments in the area are much sought-after – especially during the holiday months.

Head inland and one will find largely unspoilt mountain and valley towns. It is possible to escape the crowds, even in popular towns such as Albufeira and Portimão. The western Algarve has benefited from the extension of the motorway from Faro to the most westerly point of Sagres, a journey that now only takes 90 minutes. As a result, new developments are springing up on this side of the Algarve, with prices about a third cheaper than those in the ‘Golden Triangle’ areas. The western Algarve – towns such as Lagos, Carvoeiro and Portimão – is a better option if one wants to move away from the golf focus of the eastern Algarve. Those in search of a real bargain and who want to turn there back on the tried and tested Algarve in order to seek substantial capital gains in the process should head inland or north. As a general rule the further north one goes, the more traditional and less touristy the towns and villages.

Posted on: Portugal

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Property in Portugal remains popular

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