Property for Sale in the Algarve Portugal
- Author Hildegard Borkent
- Published May 19, 2011
- Word count 732
Before coming to the Algarve, to view property for sale in the region, it is always worth explaining to your real estate agent the motives behind your decision to buy. The reason for this is simple: some areas of the Algarve are better suited to buyers looking for a retirement or holiday home in Portugal, whereas other locations are far more likely to provide an investment buyer with a sizeable yield.
An investment property in the Algarve should be one that is able to provide the buyer with a good holiday rental income, as the Algarve is one of the most popular tourist destinations on the Iberian Peninsular. The Algarve is also famous for its golf, meaning that properties in and around the golfing centres of Vilamoura, Quinta do Lago and Vale do Lobo make ideal investments, as they provide easy access to both golf and traditional tourist attractions such as marinas, beaches and historical landmarks. It is no surprise therefore that properties in these locations are difficult to come by, but an experienced realtor will always be the first to know when and if they become available.
The property rental market in the Algarve and Portugal has become a lot more constrained by government regulations in recent years. Because of this, the property investor should also consider contracting the services of an established property management company to help with the legalities of renting property in Portugal. If chosen well, the investment buyer with an eye for the demands of the Portuguese rental market will be able to earn a good income from a suitable property for sale in the Algarve.
The relocation buyer will need to consider a different combination of property attributes and geography. A family with children of school age should consider the proximity of the region's International Schools as these provide the best form of education for English speaking Ex-pats moving to Portugal. Ease of integration in to Ex-pat communities residing in the Algarve may also figure in the buyer's calculations, as may the proximity of UK style shopping and leisure centres. A good estate agent will be able to advise the relocation buyer on these and other important factors and will obviously only select properties for viewing that meet the prerequisites of the relocation buyer.
With around 300 days of sunshine every year, the Algarve is a popular choice with retirees. There are a number of private medical institutions in the region that work with foreign insurers and retirees from within the European Union will be able to access state medical services. There is a well developed infrastructure for people who wish to remain active during their retirement. Golf, Lawn Bowls and miles of unspoilt beaches and countryside all make for the perfect retirement location and a secure property with good access for the elderly may well prove to be a very good financial investment.
By contacting your real estate agent and informing them of the reasons behind your intention to buy property in the Algarve, you can help them to organise a short list of the most suitable properties in their portfolio. This will save you viewing time and increase the likelihood of you finding the perfect villa, town house or apartment. It will also help them to brief sellers on their responsibilities which include making sure that all documentation related to the property, such as the title deed, habitation license, tax receipts, swimming pool and borehole licenses are in order. In the event of a purchase, this will expedite the process and you will not have to wait to take title of your new Algarve property.
It also gives your real estate agent the opportunity to request a pre-purchase building survey from a R.I.C.S. accredited chartered surveyor which will give you peace of mind that your property is exactly as it is specified on the bill of sale. A pre-purchase Building Survey covers the testing and evaluation of electricity, heating, drainage, plumbing and irrigation. Property boundaries and the identification of modifications that have been undertaken illegally are also included in this type of survey.
Buying property in the Algarve is as straight forward as following the guide lines given in this article. By employing the services of a government licensed estate agent and keeping them informed of your requirements you are sure to find your ideal property for sale in the Algarve, Portugal.
Hildegard Borkent of Seven Quintas Lda. offers a bespoke property search service for buyers looking for property for Sale in the Algarve Portugal. She is a member of the Portuguese real estate association APEMIP.
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