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Every year in December
we reflect on the past year and provide an outlook for the property market in
the year ahead, 2021. It has been a year like no other, one that will stay on
our minds forever. The by long-term historical standards relatively mild
Covid-19 pandemic has led to many lost lives and enormous economic damage
causing great uncertainty for people and businesses alike and is still ongoing.
Contrary to our expectations the market held up remarkably well. We have seen
some sharp reductions in asking prices of resale properties, but the majority
of vendors left prices unchanged. There has been many cross currents this year.
Some areas like Quinta do Lago and Vale do Lobo have seen an increase in
transaction... |
Published on 01/12/2020 10:50:49 |
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With the outbreak of
the COVID-19 virus and subsequent economic fallout we are revising our already
cautious annual outlook for resale property in the Algarve for 2020. With the
lockdown of many countries around the world the global economy is expected to go
into recession. For Europe a severe recession seems unavoidable. The lockdown
of countries, the closing of schools and most businesses, the self-containment
measures to stop the virus from spreading have brought normal day-to-day life
to a standstill. As a result we expect a sharp drop in transaction volume of existing
home sales and significant downside to property prices.
The... |
Published on 03/04/2020 15:28:01 |
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Every year in December
we reflect on the past year and provide an outlook for the property market in
the year ahead, 2020. The past 12 months continued to see healthy demand for
real estate for both permanent living and investment purposes albeit at a slower
pace versus the year before. Less supply of existing properties in combination
with relatively high prices, sharp downward revisions of economic growth early
in the year and uncertainty regarding trade wars and Brexit are the culprits. Despite
this property prices continued their upward trajectory by increasing 3%
year-on-year, which was in line with the lower end of our expectations. There
are reasons to be cautiously optimistic for the upcoming year.
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Published on 01/12/2019 09:58:28 |
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Every year in December
we reflect on the past year and provide an outlook for the property market in
the year ahead, 2019. The past 12 months have been very exciting as real estate
continued to be popular for both permanent living and investment purposes. The
total number of visitors to the Algarve decreased a bit year-on-year, but this
was to be expected after two consecutive years of record breaking numbers. Strong
demand for both residential and investment property saw prices of existing
properties rise by 9.5% which is just above the top end of our expectation of
9% made in December 2017.
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Published on 01/12/2018 00:49:02 |
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In the current buoyant
property market, there is logic in taking a step back and reassessing your
investment goals in light of potential risks, especially as some areas are
becoming priced for perfection.
If you bought an
investment property or are considering to down size you may want to consider
selling into a strong market. Can property prices go higher? Yes, but nobody
ever lost money taking a profit. When new price... |
Published on 30/11/2018 14:53:55 |
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Every year in December we reflect on the past year and provide an outlook for the property market in the year ahead, 2018. During the past 12 month’s real estate continued to be popular for both permanent living and investment. The total number of visitors to the Algarve continued to increase in 2017 and surpassed the all time high recorded in 2016. This is mainly due to the continuous popularity of the destination as well as the influx of hundreds of thousands ´newcomers´ from other holiday destinations in countries that are currently facing turmoil. The weather conditions have been very good all the way up to the end of November, much to the delight of visitors who will leave with fond memories of the Algarve. When back home, word... |
Published on 01/12/2017 20:27:03 |
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