According to the results of the first 2013 Algarve property market survey, there is every reason to be positive.
Leading real estate agents across the region took part in the 10-10-10 Algarve Residential Tourism Survey 2013, which researched market confidence, performance and trends in the market.
The results of the 10-10-10 Survey, a joint project between ILM Group and Property Lynx, made front page news in the regional press and revealed a marked increase in buying and selling transactions in 2012 over the previous year.
The majority of agents surveyed confirmed that they had received enquiries, offers and transactions. More importantly, they reported enquires leading to purchases. Property sales in the €100,000 to €500,000 price range accounted for 51% of the market in 2012, an increase of 17% on 2011, with 25% of total transactions falling into the €250,000 to €500,000 price bracket. Discounted prices contributed to the surge in sales, by attracting cash buyers to invest in the Algarve. While the UK market represented 46% of transactions, other buyers were from as far afield as Canada, South Africa and Russia.
Buyer’s key purchasing considerations were price/value-for-money, lifestyle, quality of property, running costs and flight time. The survey results also indicated that the motives for purchasing property in the Algarve had shifted, with more people buying to live here. In addition, there was a 13% rise in the number of people buying with the intention of retiring here in the future.
ILM Group and Property Lynxrun their 10-10-10 survey three times each year. Pertinently named, it poses 10 detailed questions to 10 leading agents and reports 10 key conclusions. Download the Executive Summary report to read more on the 10 key conclusions. The next survey is planned for May this year, with results due to be issued in June.
The Algarve has so much to offer
The Algarve has so much more to offer potential buyers than golf, sunshine and golden beaches. A region of stunning natural beauty, steeped in history and culture, it offers a lifestyle that has to be experienced to be fully appreciated.
We are encouraged by the positive survey results and, with the Portuguese Government’s commitment to marketing “Living in Portugal” and the potential impact of the new “golden visa”, we looking forward to a successful spring and summer.
If you are considering investing in a holiday or permanent home in the Algarve, take a look at the wide range of property for sale here on our website and learn more about the region.
Have you bought property in the Algarve within the last year? Where did you buy? What were your reasons for choosing the Algarve?
Brought to you by Meravista – the place where smart people search for Algarve property for sale.
Optimistic Algarve Property Survey
By Almonds & Oranges
According to the results of the first 2013 Algarve property market survey, there is every reason to be positive.
Leading real estate agents across the region took part in the 10-10-10 Algarve Residential Tourism Survey 2013, which researched market confidence, performance and trends in the market.
The results of the 10-10-10 Survey, a joint project between ILM Group and Property Lynx, made front page news in the regional press and revealed a marked increase in buying and selling transactions in 2012 over the previous year.
The majority of agents surveyed confirmed that they had received enquiries, offers and transactions. More importantly, they reported enquires leading to purchases. Property sales in the €100,000 to €500,000 price range accounted for 51% of the market in 2012, an increase of 17% on 2011, with 25% of total transactions falling into the €250,000 to €500,000 price bracket. Discounted prices contributed to the surge in sales, by attracting cash buyers to invest in the Algarve. While the UK market represented 46% of transactions, other buyers were from as far afield as Canada, South Africa and Russia.
Buyer’s key purchasing considerations were price/value-for-money, lifestyle, quality of property, running costs and flight time. The survey results also indicated that the motives for purchasing property in the Algarve had shifted, with more people buying to live here. In addition, there was a 13% rise in the number of people buying with the intention of retiring here in the future.
ILM Group and Property Lynxrun their 10-10-10 survey three times each year. Pertinently named, it poses 10 detailed questions to 10 leading agents and reports 10 key conclusions. Download the Executive Summary report to read more on the 10 key conclusions. The next survey is planned for May this year, with results due to be issued in June.
The Algarve has so much to offer
The Algarve has so much more to offer potential buyers than golf, sunshine and golden beaches. A region of stunning natural beauty, steeped in history and culture, it offers a lifestyle that has to be experienced to be fully appreciated.
We are encouraged by the positive survey results and, with the Portuguese Government’s commitment to marketing “Living in Portugal” and the potential impact of the new “golden visa”, we looking forward to a successful spring and summer.
If you are considering investing in a holiday or permanent home in the Algarve, take a look at the wide range of property for sale here on our website and learn more about the region.
Have you bought property in the Algarve within the last year? Where did you buy? What were your reasons for choosing the Algarve?
Brought to you by Meravista – the place where smart people search for Algarve property for sale.