Investors continue to invest in Algarve real estate

Portugal has been a destination of choice for real estate investment by foreign investors and the Algarve is no exception.

The beautiful landscapes throughout and the strong presence of tourism in the region have attracted many foreign investors with luxury homes attracting the most interest. Investors are coming from all over the world such as Japan, France, England, China, among others, and currently there is a strong presence of American investors in the market.

"There is an increase in demand from foreign investors, leveraged by the devaluation of the euro against the dollar, which creates an extra incentive for North American investors, who have been gaining more and more expression in our market" – states Telmo Silva, financial director of VIC Properties

Given the strong investment in the real estate sector, AICCOPN* informs that in 2022 there was an increase of 5.3% in the licensing of Housing in relation to the previous year, with 27,834 dwellings licensed in new constructions.

Marcela Properties has closely followed the evolution of these investments, having several houses under construction in its portfolio. The tourism project located in Ponta da Piedade comprises a 5-star hotel, 72 tourist flats and 29 plots of detached houses for construction, where the prices of the flats vary between EUR 325,000.00 and EUR 695,000.00 (one to three bedrooms) and the price of the plots varies between EUR 425,000.00 and EUR 625,000.00 (450m2>600m2).

Another project currently under construction, located in Penina, is a 5-star tourist and residential condominium, comprising 64 luxury flats designed for eco-friendly living, set in extensive landscaped gardens and prices range from EUR 445,000 (2 bedrooms) to EUR 1,275,000 (4 bedroom Penthouse).

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