For those seeking a reliable property investment, the Algarve is hard to beat.
With Europe’s sunniest climate its constant asset, the region remains ever-popular for holidaymakers and second-home owners. As Europe’s finest golf destination, with a golfing season over the gentle winter months to offset the summer peak, the Algarve offers a rare, year-round appeal. A host of regular flights from the UK, Ireland and all over Europe ensure a constant flow of visitors who enjoy its golden beaches, its excellent leisure pursuits, its friendly people, its uncluttered and healthy environment.
With a thriving, well-blended international expatriate society, the Algarve is also the third most popular destination among older Britons seeking a retirement home abroad (source:
Saga).
As a well-established destination with a stable economy plus a marked emphasis on quality development, the Algarve offers a solid bet for investors. The year 2007 saw a steady rate of capital growth (estimated at around 12% by
The Move Channel), with strong rental yields for investors – a higher rate of return than anywhere else in Europe. With numerous high-quality new resorts now coming on-stream, plus huge investments in tourism and infrastructure announced by the Portuguese government, the country’s property market is well-positioned to build on this success.
‘Off-plan’ investment
Recent years have seen a surge in the popularity of ‘off-plan’ investment here in the Algarve, whereby investors with time on their hands purchase property at its planning or building stage. By placing the property for sale upon completion, as brand new, there is an excellent possibility to make a very significant return on the initial investment.
For those interested in off-plan investment, it’s essential to ensure that you are dealing with a fully-licensed and reputable real estate agent, as well as the developer to be building the property. It’s also very useful to ascertain which bank is supporting the project, and if the developer has a record of previous successful projects. Furthermore, if a local bank offers 70%-90% finance, this is also a good indicator of a strong project.
Yellow Homes can offer several excellent off-plan investment opportunities – please contact us for further information.
Cidade Lacustre - Vilamoura
In central Algarve, just 25 minutes from Faro Airport, the internationally-acclaimed resort of Vilamoura is now poised to attract massive investment interest with its major new development phase – Cidade Lacustre.
Since its inception 35 years ago, Vilamoura has matured into one of Europe's most complete resorts. With no less than 7 top-quality golf courses, a large international yacht marina plus a cosmopolitan choice of shops, restaurants, bars, clubs and a casino, this stylish resort offers the perfect blend of investment conditions.
Now, Cidade Lacustre is a huge project that developers Lusort will be adding to Vilamoura over the next few years, within a uniquely-created environment of lakes and navigable channels. Commercial, tourist and residential zones will by created beside these waterways, whilst long footpaths will criss-cross the lakes to link with the marina and the marvellous unspoiled sands of Falesia beach.
Cidade Lacustre in the central Algarve is a unique and pioneering project, set to become the trademark of the new Vilamoura on the international tourist scene, and as such offers a fantastic opportunity for investors.
