Algarve Property Bargains, Market Information and Algarve Property for sale

June 25, 2010 - PRLog -- Market information
The Algarve property market remains unsettled and unpredictable, not the least because it is affected by as many external factors as local and international factors. The exchange rate seems to have developed a trend in the last couple of months, and is at a level that has not been seen since the end of 2008. The current level (1.216) gives purchasers a lot more buying power, and as the summer season is arriving also makes holidays here more affordable, as reported by The Guardian newspaper recently (http://www.guardian.co.uk/money/2010/jun/19/portugal-best-value-destination).

So, clear trends are hard to define. There is definitely less demand for apartments and pure investment properties, as is to be expected in the current economic climate. However, those seriously looking for a second home, or to relocate are still looking and buying, albeit cautiously.

One common thread we are seeing is that purchasers with unrealistic expectations are going away empty handed. Whilst there are property bargains to be had in the parts of the market that are oversupplied (properties in the primary habitation sector, and apartments and townhouses "on resort" in general), this does not apply to the entire market. Those that come to the Algarve with very specific requirements, but limited budgets are not finding their dream property.

The key to getting a bargain is flexibility. If you do have a limited budget, and are looking for a good deal, then be as flexible as possible. By considering a wider range of properties you have a much better chance of finding that elusive bargain.

Euribor (6 months) which is used for the majority of mortgages here is showing a slight tendency to increase, but this is not dramatic enough to have a massive influence on mortgage lending, as yet.

Other information
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Price reductions
We are still seeing some price reductions, but these are slowing down now. To view any of these properties please visit http://www.azul-properties.com and use the reference numbers given to search in the property section of the website.

Refurbished 4 Bedroom Villa, sea views, central heating, a/c etc, near Loulé. Reference 1001-0971. Price reduced by 100.000 euros to 695.000 euros.

New, modern 2 Bedroom Apartment, next to golf course and 5 Star Hotel, Vilamoura. Reference 1001-1033. Price reduced by a whopping 115.000 euros to 225.000 euros.

4 Bed Rustic Villa, near S. Brás. Reference 1025-0410. Price reduced by 125.000 euros to 750.000 euros.

4 Bed Quinta, full of rustic charm, near Loulé. Reference 1025-0830. Price reduced by 45.000 euros to 550.000 euros.

4 Bedroom Villa on the edge of town, very convenient and practical. Loulé. Reference 1009-1110. Price reduced by 70.000 euros to 480.000 euros.

Elegant 5 Bedroom Villa, recently built, heating, landscaped gardens, between S. Bras and Loulé. Reference 1025-0894. Price reduced by 54.500 euros to 695.000 euros.

New properties
We have added the following interesting properties to our portfolio recently:

A fantastic rural property near Paderne, 4 bedroom main house, 2 bedroom cottage, barn, pool and gardens with 16.000m2 of land. Price 375.000€, please contact us for further details.

3 Bed villa (plus self contained apartment), quiet country location, walking distance to local restaurant, near S. Bras. Reference 1001-1162. Price 375.000€.

A quirky, unusual property consisting of a house and cottage, with unusual details throughout. Santa Catarina, Tavira. Reference 1025-1167. Price 350.000€.

2 Bed detached cottage, very stylishly renovated, close to S. Bras. Reference 1025-1157
Price €199.000.

2 Bedroom villa, close to Loulé, ideal refurbishment project. Reference 1009-1155.
Price €260.000.

Please contact one of our sales staff if you require more information about any of these properties.

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A Real Estate agent in Loule, the centre of the Algarve, Portugal offering all types of Algarve property for sale. Properties include villas, apartments, ruins, land & investments. Advice is available on all aspects of purchasing a property in the Algarve