An improving picture for the Algarve property market

Two recently published surveys point to an improving picture for the Algarve property market. The 10-10-10 report from ILM Group in conjunction with Property Lynx concludes that a bottom was reached in the first half of 2012 and that the residential tourism sector is beginning to pick up. The RICS/CI Survey for February 2013 covering the whole of the Portuguese housing sector reports that confidence amongst agents is at its highest in two years.

Read more

AlmaVerde Holiday Rentals: Top 10 Frequently Asked Questions

1.       Do AlmaVerde villas have wi-fi?

A few villas have unlimited wi-fi access. There is also a wi-fi hotspot in and in front of the reception building, and an internet-connected PC available for use during reception opening hours. In addition, wi-fi routers and pay-as-you-go pens are available from reception against a refundable deposit. A router enables multiple devices – computers, mobile phones, games consoles – to enjoy simultaneous wireless access from the villa or any other location. You only pay for the time that the router is switched on.

Read more

Portugal’s Golden Residency Offer: the key to property market recovery?

Last August, looking to stimulate its property market as well as its small-to-medium enterprise sector, Portugal introduced a Golden Residency scheme under which a non-EU person can obtain EU residency in return for an investment of €500,000 in property or €1,000,000 in a business.

A major benefit of the Portuguese scheme is that it opens access, with no further passport or immigration controls, to the 26 countries of the Schengen area.

Read more

A22 tolls a reality: Guide to Payment Options and Charges now available in English

The long-anticipated toll charging system for the Algarve’s A22 motorway came into effect on 8^th December 2011. The system covers the length of the A22, but some toll-free, short journeys can be made, particularly between adjacent exits. For example, it is possible to cross the bridge from Spain using the A22 and transfer to the N125, or to travel from Bensafrim to Lagos, without incurring a charge.

The normal toll rate for class 1 small cars is 9c/km. The class 1 journey from Lagos to the airport currently costs €6.60 including IVA. Toll rates for 9-seaters, SUVs and other larger vehicles are higher. There are no toll booths as such. The system captures number plate information using cameras mounted on overhead gantries, and automatically creates or updates an account for each vehicle identified.

Originally scheduled to be introduced in April, the A22 tolls have been strongly resisted by local residents and businesses. This is despite the exemptions and discounts being offered temporarily to people living or working in adjacent council areas. Visitors to the Algarve, particularly the Spanish, have also opposed the measure, going so far as joining with the locals in demonstrations involving hundreds of vehicles.

Read more

Top 10 reasons to relocate to Portugal’s Western Algarve

1. Climate

3,000 hours of sunshine per year, cooling ocean breezes to moderate the summer heat, and seasonal rainfall all contribute to a great climate. No wonder Andalusians have been snapping up holiday homes in the area!

2. Accessibility

Faro is among the best-served warm weather destinations for cheap flights from UK and European cities. The 2h 30m flight time puts it within easy weekend reach. A modern, fast motorway network connects the Western Algarve to Faro, Seville, Lisbon and beyond.

Read more

No Shortage of Finance for Portuguese Property Purchases

Despite the general slow-down in the Portuguese property market, there are plenty of lenders ready and able to finance purchases by non-residents. However, the loan-to-value (LTV) ratios are lower and the interest spreads are higher than a couple of years ago, with affordability is a key issue.

Yours for 25% down

Read more

British family opt for eco home in AlmaVerde, Portugal

Increasingly buying a property overseas for environmental reason is becoming the norm and that’s exactly what the Keet family did when purchasing their four-bedroom home in AlmaVerde, Western Algarve.

AlmaVerde Village and Spa is a member of an invitation-only membership organisation called Sustain Worldwide, whose member developers and professionals are creating many of the world’s foremost sustainable luxury homes, resorts and communities.

Phil and Jane Keet, both aged 49, and their four children, Lucy (16), Sam (15), Emily (13) and Daisy (10) from Hythe, Kent, purchased a detached villa with private swimming pool for €450,000 (£390,000) as a long-term investment and somewhere for family and friends to enjoy.

Phil Keet says: “The environmental reasons played a huge part of the decision process. The development has been built with the eco system in mind as a haven of peace and sustainability. It boasts reduced energy consumption, the economical recycling of waste, the use of sustainable building materials and water conservation.”

AlmaVerde’s villa properties’ eco credentials include adobe bricks which are made onsite, and the Coolhouse cooling and heating system, which reduces energy consumption by as much as 94 per cent over conventional air-conditioning and produces a pleasant all-year round temperature of 26C.

AlmaVerde is a luxury eco resort, located in Western Algarve, which was launched several years ago. Today, more than 80 individual villas, set in their own grounds, have been built and sold, and spa facilities opened onsite last year.

“The Western Algarve is one of the less developed parts of Portugal and is relatively unspoilt. We wanted somewhere peaceful away from city life,” Phil adds. “The climate is good all year round. There is plenty to do in the surrounding area and the coastal/beach facilities are excellent.”

The family purchased off-plan and found the buying process very straightforward. Phil says that prices are now about 25 per cent higher than when they bought. The family plans to use the property two or three times a year and when not in use will rent it out and depending on the season can expect weekly rates of up to €1,800 (£1,560).

Written by: A Place in the Sun Friday, May 13, 2011

Algarve AlmaVerde AlmaVerde Village and Spa eco Portugal property in Algarve property in Portugal Sustain Worldwide Western Algarve

Found in Spain; Lost in Translation

On a recent trip to Seville, I was idly leafing through the hotel chain magazine. I suppose the idea of these publications is to draw the reader in with articles of general interest, and to hit them with advertorials promoting new destinations, refurbishments and so on. Aiming to appeal to the international traveller, the articles appear both in the local language and in English. As befits a publication reflecting luxury values, considerable care is taken over the photography, typography and layout, even the quality of paper stock used.

A22 Tolls Delayed in Portugal

The government will not be introducing the tolls on the four “SCUT” motorways previously scheduled for the 15th of April, reports AFPOP, the Association for Foreign Residents and Property Owners in Portugal. The process is now on hold until the result of the elections in June.

Read more

Specialists highlight the rich ecology of Sagres, Portugal

Specialists in ornithology, botany, geology and marine biology will be highlighting the hidden natural world of the Sagres peninsula in a series of discussions scheduled for 2nd October at 2:30 pm, as part of the Sagres Birdwatching Festival.

Hoopoe

Read more