Europe's leading luxury property destinations
One of Europe’s leading luxury property destinations, the Algarve, Portugal was named by the Moors in the 10th Century, Al Garbe, or the land in the West. This beautiful region with its hinterland of ancient cork, almond, carob and olive trees, has merged with spectacular golden beaches of the Atlantic Ocean and become the region of choice for the more discerning. The mild climate and 300 days of sunshine per annum makes the Algarve an ideal year- round destination.
More recently the area became known as a ´golfers paradise` and has over the years hosted the Portuguese Open on the various championship courses dotted along the Algarve. The first course was designed by Sir Henry Cotton in the 1960’s, and is constructed on the site of the Penina Hotel near Portimão. This subsequently inspired and encouraged other developers to build additional courses. There are now more than 40 established along the 180 Km extent of the Algarve, from the Spanish border to the most south- westerly point in Europe: Sagres. This was the starting point for most of the 16th Century voyages of discovery by Christopher Columbus and Vasco da Gama to the new world and the spice route to India.
Visitors to the region are received with a warm, friendly welcome by locals, there are any number of fantastic traditional restaurants where you can enjoy Portuguese cuisine at its best, whether you prefer fresh fish on the beach, or wild boar on the hills, you are certain to enjoy the excellent inexpensive food and wines. If you prefer something more up- market there are a number of 5 star restaurants offering the best of European fusion cuisine, the Algarve combines old- world charm with modern sophistication.
Here is a number of reasons why the Algarve qualifies as one of Europe’s top retirement havens and property investment opportunities.
Good value property market
Real Estate in Portugal is currently undervalued and among the most attractive in Europe and now that the recession is becoming more of a bad memory rather than a reality, buyers are taking advantage of the reduced prices. Furthermore, Portuguese real estate has one of the most favorable price-to-rent ratios. Additionally the tax rate on rental income has been reduced dramatically, resulting in investors achieving much better yields than in many other European countries
Algarve as permanent investment destination
Given the resilience of the luxury property sector in Portugal, Algarve is an obvious choice when considering where to invest in real estate. Villa, apartment and townhouse values have remained consistently high, even during recent years; moreover the resort continues to be one of the most sought after luxury holiday destinations in Europe. Whether you intend to let your property (either long or short term) or use it for family holidays; as an investment your property in Algarve is sure to deliver a high yielding return.
With over 25 years of experience of mediating property transactions in Algarve, Property Styles is ideally placed to offer you an unparalleled service when buying or selling a property in this exclusive luxury resort. Our multilingual staff are able to guide you every step of the way.
If you would like to arrange a no-obligation consultation with Doug, get in touch with us. We are here to help you.
