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With a record number of visitors and more international investors than ever, the Algarve has also seen a record drop in the number of properties on the real estate market to meet the growing demand.

The latest data confirms it: over the last 10 years, for every house completed in the Algarve, seven houses were sold. That's an annual average of 1,500 completed properties for 10,300 sold.

The difference was most pronounced in the Golden Triangle region, between Faro and Albufeira, with eight homes sold for every home completed. In the Western Algarve, six houses were sold for every one completed, and five houses sold for every completed house in the Eastern Algarve.

According to data from the National Institute of Statistics (INE) and shared by JLL, the breakdown in each area over the last 10 years is as follows:
• Golden Triangle: 35,400 houses sold (with an approximate value of €8 million) and 4,300 new properties;
• Western Algarve: 47,450 houses sold (with an approximate value of €7.02 million) and 7,500 new properties;
• Eastern Algarve: 36,100 houses sold (with an approximate value of €4.44 million) and 7,600 new properties.

Allied with the fact that construction investment has dropped, this adds to an already scarce property market, leading experts to believe that a price drop is unlikely. Despite this, there are currently signs that a market slowdown could be in sight.

Looking for that needle in the real estate haystack? Local experts should be your first port of call in finding your perfect property. The Algarve Home Sales team is happy to help, so get in touch!