en 
The luxury
real estate market in Portugal
The market
recovered rapidly in 2021, after the pandemic period, where there was a high
number of transactions but also a continuous increase in prices.
In the first
trimester of 2022 it was registered an increase of 13% in the price of houses,
the highest in the last 12 years.
The reason
for this increase is the popularity of the country. Each time more foreigners
choose Portugal as their vacation destination or to live permanently. This
increase in the foreign population is already a phenomenon that has been noted
since 2016, but in 2022 it doubled. These factors are reflected in the increase
in house demand and, in turn, in the steady rise in prices.
Algarve, a favorable
area for investment
The Algarve is an area that is
clearly a target in the buyers map. In addition, geography, climate, safety,
and hospitality are among the most business-friendly criteria.
Also, when it comes to luxury
real estate, the quality of construction is well recognized. There are homes
and designs for all tastes with meticulously accomplished finishes.
The average price per m2 is
around €3,900 in 2022, which makes the Algarve very attractive compared to
areas in other countries.
The origin of the investors is
mostly foreign. The Golden Visa and NRH programs brought new buyers to
Portugal. In the Exclusive Algarve Villas “we saw an increase in the markets
of German and Dutch language in the last 12 months, as well as an accented increase
in buyers from the U.S.A. and Canada.”
Of course, there are some
investors that remain reticent and prefer to wait and see what happens to the
market. However, as evidenced by the Exclusive Algarve Villas, there are many
international buyers who show interest in Portugal and, in particular, in the
Algarve real estate market. The pros outweigh the cons, and this is probably a
good time for those thinking about selling their luxury home in the
Algarve.
“We are always searching for new luxury properties to sell. The Algarve is one of the best areas in the country and the properties facing the sea, between 1 to 10 million euros sell very well.”
www.EXCLUSIVEALGARVEVILLAS.com
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+351 289 321 276
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+351 918 024 082
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What do you mean with "which makes the Algarve very attractive compared to areas in other countries. "?
Spain is sooo much cheaper! For under 300k you can buy a front-line sea house with lots of choice, even in Costa del Sol.
Algarve now is mostly for rich actors and footballers, house prices seem to have more than doubled recently.
The sea is much warmer in Spain also. Although I much more prefer the Portuguese people. But how can Portuguese people afford to live in the Algarve, when the average salary is around 1000 euros per month?
By Michael Blesh from Algarve on 21 Oct 2022, 11:43