HISTORY OF BUYING PROPERTY IN PORTUGAL

For many years, the British and Irish buying in Portugal have headed for the Algarve, attracted by its excellent climate, the wonderful hospitality of the Portuguese and the inexpensive cost of living.  Strict planning controls have prevented high rise concrete stretches and investment in smart new marinas has attracted a sophisticated crowd.  Strong tourism figures and the proximity of excellent golf courses have helped retain good rental returns – and property values have risen.   A villa bought for £80,000 twenty years ago would today be worth £300,000.  The increase in property prices in the Algarve over the last ten years, and the desire to explore more of the country has encouraged potential purchasers to explore the Atlantic coast especially the region within an hour’s drive to the north or south of Lisbon and the coastline towards the Portuguese-Spanish border.  

Buying a property in Portugal today

There is a vast difference in the price of property in Portugal and you can expect to pay at least twice as much for the same style of property in the Algarve as you would in one of the newer areas.  Properties facing the golf course or with an uninterrupted view of the beach command a premium.  On average, however, you can expect to pay around £200,000 for a three bedroom town house 30 minutes north of Lisbon on a resort with a five star hotel; anything from £180,000 for a one or two bedroom apartment in the centre of Lisbon to £550,000 for a newly refurbished three bedroom apartment in the heart of the historic district; or, £250,000 for a two bedroom apartment with sea views on the Algarve.   Whatever your choice of area and whatever your budget, you can rest assured that Prime Overseas Property is committed to helping you find the best property at the best price.

(All calculations are for illustrative purposes only.  Please check our property details for up-to-date prices and specifications.)