Strong demand for Algarve property by Germans

  • 5 April, 22

Germans represent, on average, 15% of investment in luxury real estate in the Algarve, with Quinta do Lago being the most sought after area of the Algarve, data from Engel & Völkers, a real estate consultancy focused on the luxury market.

Faro-Tavira

In the Faro-Tavira area, the German market currently represents 8% of the market. In terms of requirements, German buyers in this location are mainly looking for apartments with large terraces or detached houses that have a more traditional style that are located in the centre of the towns.

Albufeira-Vilamoura

In Albufeira-Vilamoura, 15% of the properties transacted have German customers as buyers, and the demand focuses mainly on villas with garden and swimming pool and V3 and V4. The German customer favours privacy and surroundings with nature, preferring low-density areas.

Quinta do Lago

In Quinta do Lago, the German buyer already represents around 25% of demand. Here they prefer charming properties, with very large areas, gardens and sea views. If this last criterion is not possible, it is essential for this type of buyer that the property is located close to beaches and golf courses.

Portimão

In Portimão, Germans are responsible for 8% of sales, and last January there was a peak that represented 14% of the real estate sales operations by this real estate company. Regarding the type of property preferred in this area, German clients are divided between detached houses with modern interior construction, swimming pool and sea view or traditional farms, located in quiet areas.

Cre:Portugalnews

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