Plus, this strategy generally works best for first-time buyers. People who already have a home usually need to sell it in order to buy their next one. If a "move-up" buyer wants to buy a home during a depressed market, that means they usually have to sell one during the slow market, too. If a seller wants to sell his home to take advantage of a "hot" market when prices are fairly high, they generally have to buy their next home during that same hot market.
It tends to equal out.
Finally, property prices have been falling for a number of years. If you are an investor or a 1st time buyer of property in the Algarve you are currently spoilt for choice. There are many good quality properties on the market at reduced prices and some are being offered below replacement value.