22 de mar. de 20223 min de leitura

Resort Property Boom

The number of sales in resorts increased by 70% in 2021 compared to 2020 and already exceeds the activity of 2019 by 30%, with prices also experiencing a strong appreciation. In terms of prices, this was one of the most significant increases since 2016, only surpassed by the 18.3% growth recorded at the end of 2018, when the Brexit agreement was approved. For a year and a half now, the prices of this type of real estate have shown signs of recovery and even in the period of a lockdown (1st half of 2021) they have risen (+8.6% year-on-year). The 2nd half of 2021 marked the third consecutive semester with positive chain changes, registering the highest half-year increase ever: 13%. Alongside the strong appreciation, sales at resorts also increased sharply, growing by 70% compared to 2020 and exceeding 2019 activity by 30%. Algarve resorts… In 2021, the average sale price of housing in resorts reached €4,205 per square meter, reaching its highest expression on the Albufeira / Loulé and Golden Triangle areas, with sales reaching an average of €4,848 per square meter. These results confirm the growing trend, which the pandemic has accentuated, of looking for housing in resorts in Portugal with outdoor space, privacy, security, connectivity, services of support and proximity to nature. This trend is visible through the growing demand by customers of the most diverse nationalities, including Portuguese. The resort market is another one of the sectors with a strong performance in 2021, showing that the national residential market remains competitive and attractive in a transversal way, emerging reinforced from the pandemic crisis.

Fewer Brits… The second year of the pandemic also brought important fluctuations in the structure of international demand for resorts. Buyers from the United Kingdom remain the main source of demand in Albufeira / Loulé and Golden Triangle areas, generating 42% of purchases by foreigners in 2021, but losing expression compared to previous years when their share exceeded 50%. This loss of share takes place in the context of more dynamic activity in other European countries, with emphasis on the Netherlands (12% of purchases by foreigners in this location), Ireland (9%), Germany, France and Switzerland (shares of 5% to 6%). Higher prices… In 2021, resort-integrated housing available for sale in the country had an average value of €4,418 per square meter, reaching €8,374 per square meter in the highest range of the market. In the main resort destination, the aforementioned Albufeira / Loulé / Golden Triangle areas, where 43% of the homes for sale are concentrated, the offer was placed at an average of €5,151 per square meter and in the luxury segment it reached €10,064 per square meter, a level never before seen in the resort market. Work with a REALTOR® to get started!!!... You’re about to embark on an exciting journey – moving to Portugal!!!!… There’s a lot of information on the internet, but it’s always best to check with reputable professionals, to ensure you’re making the right choices for your personal situation. If you need help with relocating to Portugal, our team of experts can help. Infinite Solutions specializes in assistance with residency and property investment in Portugal. Get in touch to schedule a free 30-minute consultation. We pride ourselves in being part of the decision of more than 500 families making Portugal their new home!!! Link to schedule call on Calendly: