PT: +351 282 356 952 - UK: 0330 808 2219 - Email: info@algarvehomesales.com

View of Carvoeiro beach through palm leaves

 

The residential real estate sector has been the most resilient in the national market during the pandemic. Transformation and reinvention are expected for 2021.

aerial view of villa with pool and sea in the distance

 

  

Between the first and second lockdowns in Portugal, house sales rocketed by 57%. In the Algarve, that number reached 76%.

Villa with pool and fountain plus countryside around it

Experts say that 2021 will be a “year of recovery” for the Algarve property market, largely driven by foreign investment. They highlight that British buyers will be particularly significant, despite Brexit.

Plot of land with sea view

 

The recent lockdowns have triggered new housing needs, including more space and a connection to nature. With this in mind, property experts have registered an increased demand for land.

Sea view from balcony across garden

Despite expectations of falling house prices due to the COVID-19 pandemic, the average cost of buying a home in Portugal rose by 8.6% in the last 12 months, compared to the European average of 5.7%. In the meantime, rental prices have dropped by nearly 10%.

We are members of the following associations
Livro