Market Trends

Algarve Retreats
Property Rentals and Sales

Reflecting on 2019, we can say it has been a great year for owners, receiving an excellent rental income on their investment property in the Algarve. Indeed, we have once again seen a significant increase on the number of bookings and guests wanting to return after sampling the delights of Portugal.

2019 was a record breaking year in which the total number of visitors to the Algarve reached a new, all time high and the continued popularity of the Algarve as a destination to holiday, or indeed, live, means that the area remains a sound property investment location. 

What the Future Holds

As we entered 2020 no one could have predicted the world changing events that unfolded with the onset of the COVID-19 pandemic. The closure of borders, strict lockdowns and stringent travel bans all served to ensure that the world economy was sent into a sharp decline. The tragic and devastating loss of life meant that the measures imposed were necessary to curtail the virus, and it must be said, they have been a small price to pay to ensure the virus was brought under control as we all start to adapt to life in the 'new normal'.

 

It goes without saying that as a result of the pandemic the effect on the property market has been immense.

 

As the world slowly starts to 'reopen' for business, the measures put in place by the Portuguese authorities to prevent the spread of the virus have not gone unnoticed in the wider world. The plaudits mean that investors, those looking for a holiday home and those looking to relocate to the Algarve can do so with confidence.

 

Furthermore, the continuation of the Golden Visa scheme, the advantages of Non-Habitual Residency programme and with a small proportion of good grace, existing markets remain strong and new markets will emerge to further enhance the sector.  

 

Whilst the road is long and as confidence starts to return, the future of the rental and sales markets in the Algarve is assured.

 

Please contact us for further information.