And how is your crisis today?

 

 

 

PS - All of the above available within a 15 minutes’ drive

The recession from within a sunny and warm country with all facilities on the doorstep is not too bad in comparison to most Northern countries…

If you are still thinking of investing or moving to Portugal now is THE time to start moving, as the good deals are drying up!

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The Luxury real estate market in Algarve (April 09)

The Algarve, located in the Western tip of Europe enjoys a warm and mild climate all year round within 2,5 to 3 hours from all main capitals in Europe. With many low budget airlines offering tickets cheaper than a take away pizza, new markets are opening up replacing the traditional customers of the Algarve.

With more direct flights to Eastern Europe and Russia new clients are attracted to what the Algarve has to offer. The UK and Irish were the main motors behind the tourism and real estate market for the last years. With the Euro-Pound exchange not being at his best for the last year or so, many UK buyers are waiting for it to go up. The mass of potential buyers aren’t realizing that savvy UK investors alongside Dutch, Russian, Belgium and Scandinavian buyers have been picking up the good deals already!

UK vendors who move back to the UK can afford to drop their prices with 15-25% due to the exchange rate, but with the pound creeping up, the discounts given will get smaller and smaller. We have seen this happening already! With the panic out of the market and some light points at the end of the ‘recession tunnel’ it is a good time to act. Whilst 2008 presented far better deals on the villa market than so far in 2009, there are still deals to be made, but already less attractive than 6-10 months ago.

The market has been and still is holding up fairly well, due to strict construction legislation which has forced Portugal into building quality versus quantity (unlike what neighbouring Spain has done!).

A new type of buyer born by the recession are investors uncomfortable to let their money sit in a bank account costing money. Stock markets have collapsed with investors having lost 20-80% of their capital. Bank interest is so low that it hardly keeps up with inflation and it is almost costing more money to leave it in an account. Investors have been buying real estate this year for that reason. Some of our clients have bought and are buying properties in various countries, as they feel it is time to pick up the deals which give them a better return on investment, and in addition, the money is safer in property than with the banks.

Although we still have a long time to go until full recovery, looking at the economical indicators, we seem to heading towards the end of the hard times. As a result, the appetite of buyers snooping up good deals is increasing, but fewer vendors seem to be willing to negotiate large discounts on their properties. So time is running out! Now is the time to act!

If you are serious about investing abroad in real estate, have property enquiries or would like to know of special deals and sunny offers, you can contact us at the numbers mentioned below.

We are here to make it happen for you! 7 days a week!

www.ExclusiveAlgarveVillas.com

www.BuyPropertyAlgarve.com

www.BuyPropertyPortugal.com

Rua Ernesto Cabrita, Edificio Vales, Loja –A, 8400 387 Lagoa - Algarve - Portugal
Tel.: +351 282 353 019 · Mobile: +351 918 024 082

E-mail: info@eavillas.com