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Portugal Property: The Algarve

Date: 20/1/2009

West Algarve

This region is regarded as being the area with the most growth potential in the short term. The western Algarve has always appealed to discerning buyers, while it has also been a particular favourite among Portuguese families too. Several top-quality developers are active in the area around Lagos and Praia da Luz, but the recent extension of the motorway from Albufeira along to Portimão has meant that the rate of development is increasing.

 

On the whole, though, this area is greener and less built-up, while it has beautiful small beaches and coves, rather than the long, sandy expanses that characterise the coast in the Central Algarve. The winds are fresher and the wide Atlantic beaches between Sagres and Zambujeira are unspoilt, making them a paradise for surfers. The town of Lagos is probably the most attractive town in the Algarve, being traditional in style and still home to many local families.

 

Central Algarve

This region is the "cradle" of the Algarve. In the 1960s, Albufeira was a sleepy fishing village, but it was quickly discovered by celebrities and holidaymakers and became the epicentre of the burgeoning beach holiday industry.

 

Albufeira continues to be the area's main town. Golf courses, water parks, watersports and excellent restaurants and bars profilerate around the coastal towns and villages. This region is also home to some of the highest-price real estate in Europe, which centres on the golf courses at Vilamoura, Quinta do Lago and Vale do Lobo, and area known as the Golden Triangle.

 

The Central Algarve has many new-build properties coming up to sale, but there is also a healthy resale market. Rental yields are solid here thanks to the year-round popularity with visitors and its proximity to Faro airport. Lisbon is now just two hours away up the new motorway.

 

East Algarve

The eastern Algarve, on the border with Spain, is home to some of the province's most tranquil beaches, and it has traditionally been a very well-kept secret. It's much less built up than the central region, and has fewer golf courses than both the western and central Algarve.

 

Tavira is an unspoilt Portuguese fishing town that's famous for its beautiful light and long, sandy beaches. Developers are beginning to be active along the River. Guadiana at Castro Marim, and the new Algarve motorway is bringing investment and development in its wake. For those who are seeking quality of life and good value, this is the area to watch, although short-term gains may not be as high as the western Algarve, nor are rental yields as guaranteed as in the Central Algarve.

 

There are still traditional houses in this region that are suitable for renovation and repair, but bargains are hard to come by. Source: Portugal Magazine

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