Investing in Property in the Algarve
The Algarve, so named by its Moorish invaders Al S Gharb (the west), is not as totally given over to tourism as the mention of its name in brochures suggests. The holiday complexes dominate the coast for a thin strip, stretching across approximately 415 of the region. The far eastern and western parts remain largely untouched and are areas of outstanding beauty, with important nature reserves.
The coast of the western Algarve particularly, is a wild Atlantic environment, with ideal walking areas. Houses are mostly white, and vestiges of both Moorish and Roman occupation can be seen in architecture (flat rooftop terraces), water irrigation channels, citrus fruits and amkndoas (almonds), and place names (a1 = Arabic for 'the') eg, Alcoutim.
Many people are employed in the intense tourist trade, and work alongside foreign residents in for example real estate, entertainment and car-hire. The main holiday factors here are the high number of hours of sunshine, beautiful, safe and clean beaches, spectacular rocky cliff-tops, and easy direct access to the main airport, Faro, recently upgraded and extended. But the Algarve is not simply about holidays. From about 6 km in from the coast the landscape emerges without constriction of the villa complexes as wonderfully wild, protected by the high ridge of the Monchique hills. The pace of life is languid, hot in the summer, and sometimes uncomfortably damp in the winter as few houses are set up with adequate heating.
Algarve Property Fact File
Region: Algarve.
Provinces: Algarve.
Main towns and cities: Faro, Portimao, Lagos , Silves, Albufeira, Loule, Olhao, Tavira.
Types of property: modern luxurious villas, apartments, holiday complexes, some older, typical rustic houses, golf resort property.
Prices: depends very much on location - pricey in centre and golfing vicinities and resorts, eg. Quinta do Lago and Vilamoura. Apartments from €200-900,000. Villas now easily from €500,000 up to €2 million. Elsewhere, apartments range from €80,000 upwards, and town houses and villas €140,000+. Prices are being pushed up by a steady stream of purchasers, including sports stars and personalities, and the reputation of the standard of facilities on the complexes.
Further Info: Regiao de Turismo do Algarve , Av.5 de Outubro, 18, Apartado 106, 8001-902 Faro.
