Algarve is popular again

Algarve is popular again

Falling prices in the Portuguese Algarve region in the first half of 2013 led to a marked increase in the number of property buyers from abroad. In different parts of the region housing prices decreased in different ways, in some places it has fallen by a third. It was caused by sellers' fears that a higher price tag would lead to a lack of sales. Reduced prices attract buyers seeking to purchase property in a prestigious Portuguese area at a discount.

Julia Russell at "Russell & Decoz in Moncarapacho" noted that in addition to the British, Belgians, Dutch and Scandinavians real estate in the Algarve became popular among the French, which had not seen earlier.

At the same time, as noted by Luis Goncalves at ERA, the Portuguese who live permanently in big cities, both within and outside the country, are the main buyers in the western part of the region. Promotions provide excellent conditions for investment, and hence the external and domestic demand will continue to grow.