British confidence in market increases

An increasing number of British people are taking out mortgages with an intention to buy a property in the Algarve, according to bank Santander Totta.

The fall in prices, especially at the high end of the market, is now attracting more British buyers looking for a retirement home or a holiday property.

Simon Perks from Santander Totta said: “In the last three months we have seen more interest from those looking to buy at the top end of the market as the Algarve continues to attract mainly lifestyle buyers.”