While the economic crisis within Europe may have affected many aspects of the Portuguese economy the luxury property market in the Algarve remains buoyant.
The priciest area in the Algarve is found in the Golden Triangle area of the region - between Vale do Lobo, Quinta do Lago and Almancil. The prices for properties here is 5 000 euro per sq.m. in average and real estate objects are even more expensive than in the capital - Lisbon.
Real estate expert Reinaldo Teixeira from company "Garvetur" said that property was also becoming a very popular way to make long term investments with the Algarve being an ideal choice for this sort of investment.
He said: "In recent years we have been surprised by the number of investors of different nationalities. The visitors have come to the Algarve as tourists and are increasingly now looking at the area as a place for property investment."
Source: http://livinginthesun.info/