Buying a holiday home in albufeira

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   Buyers from France have certainly been around in numbers for a good while now. With their early retirement schemes they probably have the money to spend.

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cubsur Members Profile Send Private Message Find Members Posts Add to Buddy List Moderator Group Joined: 26/January/2006 Status: Offline Points: 26924	Post Options Post Reply Quote cubsur Report Post Thanks(0) Quote Reply Posted: 12/August/2020 at 08:00
	Buyers from France have certainly been around in numbers for a good while now. With their early retirement schemes they probably have the money to spend.
	Albufeira Resident www.algarvebus.info public transport information for the Algarve

sean67 Members Profile Send Private Message Find Members Posts Add to Buddy List Senior Member Joined: 08/August/2008 Location: Ireland Status: Offline Points: 1103	Post Options Post Reply Quote sean67 Report Post Thanks(0) Quote Reply Posted: 08/March/2021 at 20:38
	I keep an eye on property in the Algarve, seems to have gone up in recent years. Sterling is now at 1.16 atm. Is there a trend in price increase or decrease lately.
	We re on the one road maybe the wrong road but we re together now who cares

Richardk Members Profile Send Private Message Find Members Posts Add to Buddy List Senior Member Joined: 29/July/2008 Status: Offline Points: 760	Post Options Post Reply Quote Richardk Report Post Thanks(0) Quote Reply Posted: 09/March/2021 at 09:59
	Properties that you would think have been ambitiously (dear) priced seem to have sold quickly so there is money about both here and in UK. - I saw a restored Bond Bug (remember them them?) sell at auction for £27000 yes £27000 so people have money to spend

Teresa Members Profile Send Private Message Find Members Posts Add to Buddy List Regular Joined: 06/March/2019 Location: Canada Status: Offline Points: 124	Post Options Post Reply Quote Teresa Report Post Thanks(0) Quote Reply Posted: 09/March/2021 at 14:43
	Does anyone know how pricing trends in Albufeira compare to other towns in Algarve? Or do they all generally move in tandem? I'm not very familiar with many other Algarve towns but, a while back, I read that Lagos' popularity has grown due to fewer crowds and its cultural authenticity?? But, given its distance from the main Lisbon/Albufeira highway (forget which hwy it is now), I would have thought Albufeira would be the more popular choice?? Has Albufeira become overpriced?

cubsur Members Profile Send Private Message Find Members Posts Add to Buddy List Moderator Group Joined: 26/January/2006 Status: Offline Points: 26924	Post Options Post Reply Quote cubsur Report Post Thanks(1) Quote Reply Posted: 10/March/2021 at 08:26
	Prices for new property here in Albufeira are verging on the outrageous. Across the road from me a two bed apartment was sold for €250,000 and similar is not unusual. Then consider the annual condominium charges. These are being bought by second home owners or by investment companies as holiday apartments. Older properties may seem better value but when repair and refurbishment works are added, still often fairly pricey. Lagos is only about 40 minutes further drive from Lisbon or Faro airport than Albufeira. I would argue that Lagos is rapidly losing its cultural authenticity because of the growing number of hotels, holiday homes and Airnbnb type lettings. As has been said, there is plenty of money around. French buyers have been numerous this past few years, before that it was Russians. Albufeira isvery popular with English speaking people. Other towns like Faro and Portimão, which are not actually on the coast and don't have so many 'foreigners' in residence, would be less expensive for those very reasons. There are plenty of estate agents websites (they often use the American English words 'real estate') where you can get an idea of current prices. One thing that does not usually happen here is haggling. The price is usually fixed and often as not the seller won't accept a penny less. I often see this company's signs around town - https://www.cerronovo.com/ and these www.era.pt
	Albufeira Resident www.algarvebus.info public transport information for the Algarve

JuliejH Members Profile Send Private Message Find Members Posts Add to Buddy List Regular Joined: 16/June/2020 Location: Newport Status: Offline Points: 237	Post Options Post Reply Quote JuliejH Report Post Thanks(1) Quote Reply Posted: 10/March/2021 at 10:14
	We purchased ours through Certo Novo, they were excellent and we would highly recommend them to anyone interested in the area . Another consideration would be to look slightly in land towards Guia.

Teresa Members Profile Send Private Message Find Members Posts Add to Buddy List Regular Joined: 06/March/2019 Location: Canada Status: Offline Points: 124	Post Options Post Reply Quote Teresa Report Post Thanks(0) Quote Reply Posted: 10/March/2021 at 14:10
	Thanks cubsur and JuliejH, appreciate the info.

Richardk Members Profile Send Private Message Find Members Posts Add to Buddy List Senior Member Joined: 29/July/2008 Status: Offline Points: 760	Post Options Post Reply Quote Richardk Report Post Thanks(1) Quote Reply Posted: 11/March/2021 at 09:53
	I know this is about buying a property but be aware that the agents charge upwards of 5% + IVA for their services when you come to sell. I asked an agent for justification of their fees as in UK its 1 - 1.5% - got a shrug of the shoulders and no answer. It seems to be a licence to print money hence the ever increasing number of agents with ever bigger/shinier offices

cubsur Members Profile Send Private Message Find Members Posts Add to Buddy List Moderator Group Joined: 26/January/2006 Status: Offline Points: 26924	Post Options Post Reply Quote cubsur Report Post Thanks(0) Quote Reply Posted: 12/March/2021 at 08:28
	True enough Richard and I was told that is one reason why haggling over a price is almost unheard of is that it could seriously affect the agents income. In their eyes at least.
	Albufeira Resident www.algarvebus.info public transport information for the Algarve

peteknopp Members Profile Send Private Message Find Members Posts Add to Buddy List Top Contributors Joined: 20/December/2006 Status: Offline Points: 3432	Post Options Post Reply Quote peteknopp Report Post Thanks(0) Quote Reply Posted: 12/March/2021 at 09:39
	When you get an agent around to view/market your house, they will ask what price you expect and when you tell them, they will ask if that includes the agents 5%. If you say no, they will inform that you pay them 5% and do you want to up the price to cover the 5% you will lose. Its a joke!