Algarve is located in the south of Portugal, with a population of more than 438,000. The Atlantic Ocean surrounds it on the south and west side.
Algarve offers a quality life with its gorgeous beaches, climate, and culture. In addition, it has rich cuisine and an affordable lifestyle. These are the main reasons that foreigners buy Algarve real estate. Especially expats and retirees are interested in this gorgeous place.
Let’s get to know more about Algarve.
About Algarve Region
Algarve is located around 280 kilometers away from Lisbon on the south. From Lisbon to Algarve, it takes between three and four hours. Faro Airport is the closest airport to the region, around 7 kilometers away.
In Algarve, the cost of living is not high, which is valid for the prices of properties. So, this makes it attractive for buyers to purchase the Algarve property. It’s possible to live here as a couple with a budget of €800 – €1,200 per month.
The region also offers a historical surrounding with artifacts dating back to 7000 BC. You can also find various castles, churches, and forts in Algarve. Especially in the 15th century, Portuguese ships sailed from Algarve.
Like many Portuguese cities and regions, Algarve also enjoys more than 300 sunny days a year. So, the year-long climate is quite favorable and mild here.
There are many activities you can do in Algarve. Golf, kayaking, surfing, and swimming are the most popular ones.
Especially golf is a preferred activity for people who buy property for sale Algarve. You can find many golf courses here, what’s more, over five championship golf courses are available only in Vilamoura. Trekking is also possible near Alcoutim and Sagres. There are also thermal baths and spas in Algarve. What’s more, the Algarve region is popular with its medicinal treatment, such as thalassotherapy.
Buying Algarve Property: Advantages
Properties in Algarve come in different types including houses, apartments, and villas in Algarve.
Investing in a property in Algarve can yield high returns in the long run. So, even if you don’t live in it, you can consider it an investment that will increase in value.
Speaking of investment, the Golden Visa Program can be an option if getting EU residency is one of your goals. The program gives you and your family members a residency permit in Portugal. Investment options of the program include buying real estate such as Algarve apartments for sale. Golden Visa also allows you visa-free travel in the Schengen area. To become eligible, you’ll need to submit the necessary documents. The minimum value of the property you’ll buy must be €280,000.
Property for sale Algarve comes in many options. Townhouses, apartments, and villas are some of the choices.
Before buying the property, it’s advisable to ask yourself a few questions. For instance, how big the real estate should be? Will you be living with your family or as a couple? Do you want to buy a property in the city center or in a rural town? These are the questions that make your assessment process easier. Then, you can consult a real estate agent who will filter the options depending on your budget and choice.
Note that Algarve property prices differ depending on the cities and the location of properties. If you go further from the city centers, prices will fall.
To have an idea about the average prices per square meter, you can check the list below:
- Faro: €2,170
- Albufeira: €2,463
- Lagos: €3,021
- Tavira: €2,000
- Portimão: €1,800.
These are the average prices per meter square for the properties in the city centers.
In short, buying property in Algarve can be an advantageous investment for you. If the benefits of this investment suit you, why wait longer?
Read More on KulFiy
5 Ways to Begin Investing In Real Estate with Little or No Money
5 Things You Need to Know About Buying Real Estate in Mexico