When we last reported on property valuations for the Algarve in February this year, our provincial average was 1371 €/m², only 5% higher than Statistics Portugal’s (INE) bankvaluation of 1298 €/ m². As of May 2014, it looks like prices have risen. The Meravista average now stands at 1550 €/m² and the INE’s is 1442 €/m² demonstrating a gain in housing prices of 13% and 11% respectively. Going forward, we plan to monitor this positive movement by publishing monthly property numbers and valuations reports for the Algarve region.
Dedicated exclusively to marketing property for sale and rent in the Algarve, Meravista currently carries just under 15,000 listings across the region, more than any other portal, and has a total of 24,661 properties in its database.This extensive collection of data means that we can provide reliable information about the number of properties on offer in the province and the average price of homes by property type, broken down by Concelho (county).
This first report analyses property located within the Algarve as a whole and in each of the 16 Concelhos of the region. Our research shows that the average value of property across the Algarve is €309,000 and the average price per m² is €1,550.
When calculating the number of properties in each price bracket, we noted that a fifth of all homes in its database are being marketed for under €100,000, and just over 60% are priced between €100,000 and €500,000. Just 13% of properties fall within the €500,000 plus price range.
One of the fortunate/unfortunate facts about the Algarve is that in the geographic centre of a province filled with low-priced property sits the world renowned cluster of super resorts known as the Golden Triangle in the county of Loulé. This county skews all the statistical fun we’d like to have with the Algarve as a whole. To compensate we present the numbers for the individual counties where you can see a variety of valuations to suit your needs.
To download Property Market Report Data Tables click here
. With an overall rise in market value of 13% in just three months, if you’re keen to invest in Algarve property, then you may be well-advised to act now. It’s still a buyers’ market, with a chance to take advantage of some truly outstanding bargains. But wait too long and you just might miss the boat.
Meravista’s subsequent monthly reports will focus on a single county and its major towns. The next in this series will be published in June.
Brought to you by Meravista – the place where smart people search for Algarve property for sale.
Positive Trend in Algarve Property Market
by Guy Données
When we last reported on property valuations for the Algarve in February this year, our provincial average was 1371 €/m², only 5% higher than Statistics Portugal’s (INE) bankvaluation of 1298 €/ m². As of May 2014, it looks like prices have risen. The Meravista average now stands at 1550 €/m² and the INE’s is 1442 €/m² demonstrating a gain in housing prices of 13% and 11% respectively. Going forward, we plan to monitor this positive movement by publishing monthly property numbers and valuations reports for the Algarve region.
Dedicated exclusively to marketing property for sale and rent in the Algarve, Meravista currently carries just under 15,000 listings across the region, more than any other portal, and has a total of 24,661 properties in its database.This extensive collection of data means that we can provide reliable information about the number of properties on offer in the province and the average price of homes by property type, broken down by Concelho (county).
This first report analyses property located within the Algarve as a whole and in each of the 16 Concelhos of the region. Our research shows that the average value of property across the Algarve is €309,000 and the average price per m² is €1,550.
When calculating the number of properties in each price bracket, we noted that a fifth of all homes in its database are being marketed for under €100,000, and just over 60% are priced between €100,000 and €500,000. Just 13% of properties fall within the €500,000 plus price range.
One of the fortunate/unfortunate facts about the Algarve is that in the geographic centre of a province filled with low-priced property sits the world renowned cluster of super resorts known as the Golden Triangle in the county of Loulé. This county skews all the statistical fun we’d like to have with the Algarve as a whole. To compensate we present the numbers for the individual counties where you can see a variety of valuations to suit your needs.
To download Property Market Report Data Tables click here
With an overall rise in market value of 13% in just three months, if you’re keen to invest in Algarve property, then you may be well-advised to act now. It’s still a buyers’ market, with a chance to take advantage of some truly outstanding bargains. But wait too long and you just might miss the boat.
Meravista’s subsequent monthly reports will focus on a single county and its major towns. The next in this series will be published in June.
Brought to you by Meravista – the place where smart people search for Algarve property for sale.