Algarve Property Uncovered: The Algarve, Portugal
With year-round sunshine and so many beautiful towns and villages, it’s little wonder that the Algarve property is so popular among foreign buyers.
Known for its stunning beaches and coastline, fresh seafood, top class golf courses and innate natural beauty, the Algarve caters for all tastes. Easily reached when travelling from other European countries and fewer than three hours from the UK by air, you can see why its popularity endures. The Algarve is also known for its sunshine – it is widely accepted that this area of Portugal enjoys more than 300 days of sunshine each year. In the Algarve, there is plenty of choice in terms of property types ranging from apartments with sea view to villas to luxury houses and much more. The price of property in the Algarve also varies depending on the region. For example, Vilamoura is known for luxury villas, making it one of the most expensive places to buy property in the Algarve.
The beaches are some of the best in Europe, many of them with the internationally recognised Blue Flag accreditation. Inland, you can find lush hilltops, the natural charm of the Monchique Mountains and River Guadiana, and small villages that seem like a step back in time. Average property prices in the Algarve range from €150,000 plus for a two-bedroom apartment, €200,000 upwards for a two-bedroom townhouse, and €400,000 or more for a two-bedroom detached villa.
For cheaper properties in the Algarve, you will need to go to areas like Monchique and Alcoutim or more rural areas to find bargain deals. Lisbon property is prime investment right now, although prices have become massively inflated. Apartments and properties in the downtown area and neighbourhoods around the city centre have skyrocketed.
The Silver Coast…
The Silver Coast is also an attractive area for people looking to buy less expensive property and is considered by many to be a good alternative to the Algarve, as it also has beautiful coastlines. When you think of beautiful coastline and beaches in Portugal, the first place which comes to mind is the Algarve, and rightly so, but the next best place with an equally amazing coastline is the often-forgotten Silver Coast.
The Silver Coast is an excellent alternative to the Algarve in terms of buying a property by the beach, as the property prices are cheaper than in the Algarve. There are great bargains to be found here as you can buy houses or apartments for less than €100,000. Some places to consider are Obidos, Peniche, Nazare and Tomar.