Luxury Property for Sale in the Algarve Portugal – A Recent History
Property in the luxury golf resorts of Vale do Lobo and Quinta
do Lago, Algarve had only ever appreciated in value in the years prior to the global recession. This was not only due to the growth in popularity of Portugal as a holiday destination but also due to government imposed restrictions on the development of these resorts, known as PROTAL. Property investors made substantial profits on properties bought in theearly development stages of Quinta do Lago and Vale do Lobo and real estate
agents enjoyed huge commissions selling luxury villas and apartments to rich,
famous clients from the world’s of stage, screen and sport.
When the downturn took hold it was soon apparent that the Quinta do Lago and Vale do Lobo property markets would suffer the same fate as luxury property markets in most other European destinations. Villas, apartments and plots all depreciated in value as cash
strapped owners looked to liquidate their assets and, as a result, many smaller
real estate agencies were forced to downsize and in some cases even close their
The agencies which succeeded throughout this period were those who managed to successfully target new client groups as they emerged. These groups either came from Scandinavian countries in which favourable tax breaks became available to those buying overseas property or from Russia and Angola; countries whose more affluent citizens were looking to move their money “outside”. There were many stories of buyers arriving in
Portugal with suitcases packed with cash and it was often the case that
desperate vendors were more than happy to part with their properties at heavily
reduced prices in order to get access to these liquid funds.
For these surviving agencies, the future of the luxury property market in Portugal’s Algarve now looks considerably brighter. Properties have slowly began to change hands once more and prices are starting to rise as a result. This is due in part to the
encouraging economic news coming from Northern Europe but it also a result of
Portugal’s own attempts to revive the influx of foreign investment in to the
country. The Golden Visa, a new incentive designed to create interest from non
EU investors, gives such investors an entry point in to Europe, as a 500,000
Euro property purchase entitles them to immediate residency in Portugal.
Luxury Property Resources in Quinta do Lago and Vale do Lobo
Property Styles | www.propertystyles.co.uk – A newly formed
real estate agency specialising in luxury property for sale in Quinta do Lago
and Vale do Lobo, Algarve, Portugal. With offices in Almancil and a team of multi-lingual staff; the company’s Principals have spent many years working exclusively in the
Algarve’s luxury property niche.
Seven Quintas | www.sevenquintas.com – One of the Algarve’s
longest established real estate agencies, Seven Quintas has an unparalleled
knowledge of luxury property for sale in the Algarve and, as such, can help with
all aspects of buying, selling and investing in the Algarve, Portugal.
Prime Properties | www.primeproperties.net – Located in Almancil, Prime Properties provides sales, rentals and property management services for exclusive clients with property interests in the luxury resorts of Quinta do Lago and Vale do Lobo.