Algarve registers ‘historic drop’ in property sales

in News · 23-09-2020 17:33:00 · 7 Comments
Algarve registers ‘historic drop’ in property sales

The Algarve has registered a ‘historic drop’ in property sales. According to Jornal de Negócios, house sales in the region in the second quarter of this year dropped by 38 percent.

While the slow-down was nationwide, it was particularly noticeable in the Algarve. The only region to buck the trend was the Alentejo.


Comments:

Speak to any real estate agent throughout this and they all have say their sales were stronger this year than last year even in the midst of a pandemic. I was suspicious about that especially seeing how many houses had reduced prices and still weren’t selling.

By Nicole from Algarve on 27-09-2020 11:20

Please keep me posted on the housing market.

By Peter Shuart from Other on 25-09-2020 04:02

It's natural... there has been a pandemic! Sensationalism...

By Anne Waltham from Algarve on 25-09-2020 03:40

This week, Reuters tells us that Portugal’s a top-ranked investment destination; key features include eu-wide freedom of movement for entrepreneurs; and low COVID-19 rates in the Algarve. Tell investors, they will come.

By Paul Lefrere from Algarve on 24-09-2020 08:24

With all due respect to the previous commenter fp, are you suggesting the correct approach from the Portugal News would be to lie or distort facts? The truth of the Portugal market is that even for the 6 months preceding Covid the sales of villas in the "better" areas of the country had come to an almost complete halt. One could say the market has crashed it is just that the sellers do not seem to understand this as even when they are not closing they are not adjusting their asking price positions. The continuous rise of prices has led to a situation where asking prices are so far above the real world values that buyers are simply not buying anymore and the next months will make the situation even worse for the sellers.

By Teijo Aalto from Lisbon on 24-09-2020 01:19

Yes it is obvious. Nothing sensational here.

By William from Other on 24-09-2020 10:46

A very sensationalist heading that when one reads the rest it refers to something 6 months ago. Is it not obvious that the pandemic started in March and obviously that relates to why there was a property sales drop! This could’ve easily been written in a supportive way in pro of the Algarve instead of sensationalist negative

By fp from Algarve on 24-09-2020 09:13
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