Property prices

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   This would be nice if you owned a property and were lining up to sell...
 https://algarvedailynews.com/property-news/17915-house-price-growth-rises-to-12-in-march-2020-compared-to-the-same-period-of-the-previous-year

But what has this pandemic done to those figures? I can only think it will have knocked them back, no issue if you’re not selling, or realising, but if you were it will be interesting to see.

Also interesting that it reports that whilst property prices have grown, and by a fair amount, rental rates have fallen.

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Andrew Members Profile Send Private Message Find Members Posts Add to Buddy List Top Contributors Joined: 27/December/2008 Location: UK or Algarve Status: Offline Points: 7263	Post Options Post Reply Quote Andrew Report Post Thanks(0) Quote Reply Topic: Property prices Posted: 24/April/2020 at 09:05
	This would be nice if you owned a property and were lining up to sell... https://algarvedailynews.com/property-news/17915-house-price-growth-rises-to-12-in-march-2020-compared-to-the-same-period-of-the-previous-year But what has this pandemic done to those figures? I can only think it will have knocked them back, no issue if you’re not selling, or realising, but if you were it will be interesting to see. Also interesting that it reports that whilst property prices have grown, and by a fair amount, rental rates have fallen.
	Andrew

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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: 28303	Post Options Post Reply Quote cubsur Report Post Thanks(0) Quote Reply Posted: 25/April/2020 at 08:37
	Rentals have indeed fallen. I can quote one case at first hand where an AL license holder has accepted a tenant for a 1 bed apartment for 6 months at around €700 a month, rather than gamble on the tourist market which would have brought in up to €2000 a week in a normal summer. He will at least cover his costs that way and maybe make a small profit. Other posts here have mentioned the large number of tourist apartment blocks at or nearing completion. Prices are far too high for most people working here. It will be instructive to see if they can shift a T2 at €195,000 for example if there are no tourists to buy or rent.
	Albufeira Resident www.algarvebus.info public transport information for the Algarve