Is Now The Right Time to Buy in the Algarve?

ALMANCIL, Portugal - Dec. 7, 2022 - PRLog -- One of the most recurring questions we get asked is – Is now the right time to buy in the Algarve?

In our humble opinion

The short answer is yes, property prices have been on the increase for the last 20 yrs and show no signs of stopping.

With so few Algarve properties for sale (https://algarveprop.com/algarve-properties/) in the marketplace, prices are at a premium and will continue to be so. Throw into the equation the shortage of Algarve real estate in the most desirable areas and the time it takes to build new developments (https://algarveprop.com/property-feature/new-property/), there is no reason to think otherwise.

Is this the right time to buy in the Algarve?

Believing that 2022 will continue to be a good year to invest in property, as the measures applied by the ECB to contain inflation will be offset by increased activity from private and professional investors. Despite the fact that, as some reports point out, 2023 will be a year marked by a 15 per cent drop in sales, the real estate market should stabilise.

In the next six months, the economy could slow down, mainly as a result of the War in Ukraine (https://www.bbc.com/news/business-60610537) and all the problems it has generated for the world economy, for example, the decision by the ECB to increase interest rates. Which is expected to continue to rise in the next few months.

From our point of view, the investors should assess whether a future increase in mortgages will have a slightly negative impact on their financial situation. Evaluating which of the two options they prefer in whether to buy at a higher price and lower interest or vice versa.

For more information about buying Algarve Properties contact Gatehouse International Algarve real estate agents (https://algarveprop.com/our-agents/).