Posts Tagged ‘Algarve’

The qualities of the city of Faro have been highlighted in a feature on the Algarve region.

In an article that is part of a series on the area, Chicago International Travel Examiner said there is much to see and do in Faro.

The paper stated that some of the best architecture includes the cathedral with its side chapels, plus the Moorish defensive walls, while historical treasures include the contents of the Infante Dom Henrique Archaeological Museum.

Algarve property buyers may wish to consider the city itself, as well as the nearby resorts on the coast.

The Algarve property market is offering plenty of discounted bargains at present, the Times reported earlier this month.

Representative of estate agency Winkworth Portugal Mary Mangan told the paper: "In the western Algarve, you can buy a newly refurbished one-bedroom village house in Raposeira, near Lagos, three minutes’ drive from the beach, for £136,000."

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Algarve property finders can pick up plenty of bargains in golf resort areas, it has been stated.

The region has seen recent price falls and many developers are willing to enter negotiations over the cost of property, the Times reports.

Another good prospect for cheaper Algarve property is inland to the north of the A22, according to estate agency Winkworth Portugal.

Representative of the firm Mary Mangan told the paper: "In the western Algarve, you can buy a newly refurbished one-bedroom village house in Raposeira, near Lagos, three minutes’ drive from the beach, for £136,000."

Those keen on buying Algarve property may be particularly keen to take advantage of such possibilities.

Homes in the region are increasingly being built to modern deigns, offering a choice between that and traditional materials, it has been noted.

Property developer Ted Baillie recently told the Independent that glass is being used a lot to create a feeling of "space and light" in homes.

Visit Rightmove Overseas for the best selection of Algarve property. Stop dreaming, start searching!

A couple from Scotland have been able to get their hands on a £1 million Portugal property - by buying jointly with friends.

Neil Buchan and Lisa Colrain from Cambuslang near Glasgow joined with two friends to each take a one-third share in the Algarve property, the Sunday Mail reports.

Although the payments on it equate to £3,000 a week, the property sleeps 18, meaning four families can stay there at any time for £750 per week.

This means the owners can take breaks there while also renting it out to families and groups of friends who wish to stay.

Mr Buchan, a builder, told the paper: "The house is stunning and so private - there are electric gates at one end and most people who stay tell us they rarely leave the house."

Long-term trends for Algarve property also show that it is prone to growing rapidly in price.

Architect Robin Crosland told the Portugal News Online last week that the Praia da Luz Ocean Club resort apartments have seen values grow to 20 times their original 1982 price.

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Buyers looking at investing in the Algarve property market can expect to see values boosted by the arrival of a new motor racing circuit, it has been predicted.

The new Autodromo Internacional do Algarve is expected to bring an extra one million visitors to the region every year, Homes Worldwide reports.

Its first major event will be as round one? of the World Superbikes Championship on November 2nd this year, while it has also been equipped to host Formula One races, which Portugal has not done since the last race was run at Estoril in 1997.

As well as the potential property boost for Algarve buyers emanating from the new race circuit, there are other Portuguese property destinations that could benefit from new developments.

One place expected to do so is the village of Sesimbra and its environs, 50 km south of Lisbon.

Connie Vitto of Quadrant Property told the Finacial Times the location is "definitely a place to watch", following news that Lisbon’s new international airport is to be sited nearby.

Visit Rightmove Overseas for the best selection of Algarve property. Stop dreaming, start searching!

For those thinking of investing Algarve property, it has been stated that Tavira in the eastern Algarve is an excellent choice.

The Daily Telegraph has described the location as a place that is "hard to beat as an autumn break".

It describes a number of attributes possessed by the location, such as historic charm with cobbled streets and a waterfront where the fishing industry still operates, as well as an eight mile long beach, excellent seafood and a range of historic buildings, such as churches and a ruined castle.

The town is 19 miles from Faro Airport, the paper notes.

Investors considering Taro may be interested to know it has been tipped to emerge as a hotspot over the coming years.

Mary Mangan of estate agency Winksworth told the paper last month that the town will benefit from its tranquility and low prices.

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The city of Porto in northern Portugal is a good one for rental property, it has been stated.

Writing for Nubricks.com, John Moore of the Move Channel said the city is both a major port and industrial city on the one hand and at the same time a popular tourist destination, famous for Port wine.

He stated: "In addition to its tourism trade, Porto attracts many foreigners for business and educational reasons, making it a good location for rentals on a long term basis."

In a trend that may interest those keen on investing in Portugal, property prices have been coming down in Porto and elsewhere, partly as a result of there being fewer English buyers in the credit crunch.

Mr Moore said this has been the case in Porto and Portugal Resident reports that a survey by real estate newsletter Confidencial Imobiliario has found that this situation also applies to Algarve property, although the region’s property prices remain higher than elsewhere in Portugal.

Such a situation may mean investors can find more bargains in Portugal.

This story was brought to you by Rightmove Overseas, the UK’s leading overseas property portal and part of Rightmove.co.uk. It’s time to stop dreaming and start searching!

Those thinking of buying into the Portugal property market will be particularly well served if they enjoy a game of golf, it has been stated.

A number of leading players own golf-related property in the country - particularly the Algarve region - such is its popularity and reputation for quality, the Daily Telegraph reports.

One example it gives is that of Vilamoura, near Faro, where open champion and European Ryder Cup team member Padraig Harrington has a five-bedroom villa.

Qualified accountant Harrington told the paper: "Buying at Vilamoura not only gives me the security of a quality property investment, but will allow me to practise on a different course every day of the week."

The paper adds that deals available to buyers include that through locally-based company Oceanico, through which a gold title can be bought in perpetuity with a property for £30,000, allowing access to the seven courses owned by the firm.

Portugal was recently stated to be the best place in the world to play golf by the International Golf Travel Market, reports the Portugal News Online.

This story was brought to you by Rightmove Overseas, the UK’s leading overseas property portal and part of Rightmove.co.uk. It’s time to stop dreaming and start searching!