Algarve Real Estate

Algarve real estate offers something for everyone, in my opinion. That is to say, there are expensive, super-expensive and - if you know where to look - very affordable properties to be had.

It all really depends on what you're after.

There's no doubt that Algarve real estate prices have been inflated somewhat by (among other factors) the UK's 10-year property boom. Lots of Brits, including yours truly, seem keen to make the move to sunny Algarve.  Which has meant that some of the more popular areas of Algarve are, shall we say, 'exclusively priced'.

People I know who moved here several years ago are relieved that they got into the Algarve real estate market before prices 'took off'.

Of course, compared to parts of the now-infamous Spanish market, Algarve property is still held in high regard. No local-authority-inspired land-grabs here, you'll be pleased to know...

... But it still pays to do your homework, when you're buying (or beginning to think of buying) any property abroad. And, unless you intend to buy a beach-front property, you'll need to get out and about in the Algarve (which is hardly a chore, since it's so beautiful).

It's always best to think about large and expensive purchases without the aid of rose-tinted spectacles, so here's a short reality check before we proceed further...

Algarve Real Estate - Pros and Cons

Let's deal with the advantages first - 

• Algarve is a beautiful region. 

• The weather is benign, with lovely hot summers and kind (mild) winters. 

• Living costs are still reasonable, although I'm told that things were cheaper only a few years ago

• Pace of life is best described as 'laid-back' (if you discount the road behaviour)

But the Algarve does make a lasting impression on tourists, as witnessed by the pages on this website that have been contributed by enthusiastic Algarve visitors.

While, on the downside -

• It's generally accepted that bureaucracy can be unnecessarily frustrating (though they're trying to change that)

• And, naturally, there's an element of culture shock involved in moving to any new country, especially one with a 'tricky' language like Portuguese

Partly counterbalancing that last item is the fact that many parts of the Algarve are welcoming for English speakers. And, in most areas, you can get by pretty well with a smattering of the Portuguese language. 

Of course, as with any unfamiliar activity, it helps if you have the right mixture of knowledgeable professionals on your side, to guide you when you're unsure.

In my eyes, the 'pros' comfortably outweigh the 'cons' - which is why I now live here!

Which brings us, I suppose, to a consideration of the types of Algarve real estate from which you might select...

Algarve Real Estate - Choices

Villas
Whether close to the sea or a little inland, Algarve villas are a popular draw for those who want seclusion and privacy. Set in ample, landscaped grounds, a well-constructed villa could offer considerable appreciation in value. Generally, a pool is a must, while such mod-cons as hot tubs, jacuzzis, gyms and even the occasional cinema are not unknown.
Unashamedly the luxury end of the market, Algarve villas can nevertheless throw up unexpected bargains, depending on size, condition and location.

Condominiums/Apartments
Generally located fairly close to coastline or beach, an apartment in an Algarve condominium is likely to prove a good long-term investment. Whether for full-time occupation, permanent living or for holiday rental purposes, condominium apartments are a favourite sort of Algarve real estate.

Town Houses
Offering the space and comfort of many equivalent villas, Algarve townhouses can offer great locations, some sense of immediate community and, usually, 'all mod-cons'. Tending to be somewhat cheaper than detached villas, they can be a great compromise solution if you'd like the villa lifestyle, but don't want to stretch the budget.

Apartments
Algarve apartments provided some of my own fondest vacation memories, so I didn't exclude them from our searches when we looked to relocate here. The choice is amazing, from beachside to secluded and calm. And some are agreeably affordable.

Ruins
There are still lots of ruined buildings standing on untended land that can be transformed into a home of your dreams. Some of the bureaucracy, complicated rules and involvement may prove tricky, so this is one area where you definitely require Algarve real estate expertise on which you can call.

Redevelopment Projects
If you're a dab hand at renovation, or even just fancy being the project manager on your own site, then there are plenty of choices on offer in Algarve. From virtual shells of buildings to a slightly faded edifice that needs some loving attention to bring it back to its saleable best, there's likely a project to suit your ambition...

Land
It's not always possible to purchase a plot of land and then obtain permission to build on it so, again, this is an area where you need expert advice. No good buying that parcel of Algarve with the heart-stopping views if you'll never be able to put your dream home on it!

Which brings us to the thorny subject of...

Time Shares
If you're keen to own some Algarve real estate but don't intend to live here all year round, then a time share might be just the thing. Like me, you've probably heard or read horror stories about time share purchases that have gone somewhat 'pear-shaped', so it's yet another instance where it's vital that you employ the right sort of expertise to ensure you're protected.

 How To Find Your Dream Algarve Real Estate

 I was pleased, recently, to meet a very different kind of Algarve real estate agent, in the person of Elly van Hulst.

Elly, as athletics fans will know, was for many years not only Dutch national champion but also holder of the women's world record at running 3000-metres. Her record was broken only in 2001, and had stood for some 12 years! (Nev and I are long-time athletics fans so, although we'd never seen Elly compete 'live', we'd often seen her on TV. Something of an event, then, to meet her in person).

During her career, Elly had frequently used the Algarve as a warm-weather training location. Like many regular visitors, she soon began to think of living here permanently, and eventually bought some land with a view to building a future home. 

She had also been forming an interest in dealing in real estate, and had set up a company in Holland with husband and former coach, Theo Kersten. So, it was a natural progression, after retiring from competitive athletics and moving here full time, to take an interest in Algarve real estate.

Rather than follow the usual template, though, Elly chose to work from home, and to concentrate on offering clients a real personal touch. She and her small team operate from a 'summer house' office premises in the grounds of her home that has breathtaking views down to the Algarve coast. (I told you she was different!)

I had imagined that Elly's real estate enterprise would concentrate mainly on east and maybe some of central Algarve, but soon learned how wrong I was! 

In fact, she handles properties not only all over the Algarve, but also across virtually the whole of Portugal! This can, of course, mean a lot of travel, but Elly and Theo  have their schedule planning 'down to a T'. (I guess all that application and single-mindedness has transferred from her athletics career to her new one...)

Elly's approach to real estate business is as idiosyncratic as her office. Rather than offer merely what she has already listed, she's happy to take a client's Algarve real estate 'wish list' and seek to turn that into a bricks-and-mortar reality.

With a finger firmly on the pulse of what's happening in the Algarve property market, and an intimate knowledge of the purchase process as it affects buyers from outside Portugal (having of course been that route herself), Elly is uniquely placed to help you find just the item of Algarve real estate that will suit you.

Why not put her to the test? Just let her know what you're looking for (even if it's just some suggestions to get your own decision processes moving) and she'll soon let you know whether there's anything suitable, either immediate or upcoming...

Read about our own Algarve property purchase adventure here. We wish we'd known about Elly and her way of working back when we started looking hard at Algarve real estate!

Plus, you can read here my ever-so-slightly tongue-in-cheek consideration of the steps involved in buying Algarve property.

I'll be updating this page regularly, so stay up-to-date by subscribing to my regular newsletter, Algarve Beach Life News. 
 

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