2023 is now in full swing, which means more and more tourists are securing their summer getaways. At the top of many travel destination choices is the Algarve! The region’s popularity continues to rise steadily, which means great things for property owners.
Due to this surge in bookings from many different geographical markets, now is the time for property owners to act. If your villa is not front and centre during this busy booking period, you could miss out on record rental income.
Demand grows across the globe
For the Algarve, the biggest tourist market has often been the UK and Ireland. This demand has not slowed down. Taking Ireland as an example, a recent surge in 2023 bookings with travel agents and airlines means that these businesses are set to achieve pre-pandemic levels of bookings. This is promising news indeed.
Another market to watch is Portuguese nationals outside of the Algarve. It’s important to note that this market tends to book much closer to the holiday seasons, meaning keeping them engaged throughout the year is vital.
Finally, our team has seen a significant increase in enquiries from Spain, the United States and Germany compared to the previous year. It is great to see a much wider reach of interest so far in 2023!
What can owners do to capture this demand?
For property owners who are not currently listing their property for rental opportunities, now is absolutely the time to do so. It will give them time to make necessary improvements, arrange the legal requirements and begin marketing the property.
Speaking of marketing, the SandyBlue summer marketing campaigns have launched with great success already. Understanding customer interest early in the year is so important for marketing, as campaigns and marketing channels can be adjusted accordingly.
For example, analysing email campaigns to identify popular locations will allow us to send more targeted emails. Furthermore, social campaigns allow us to engage with guests throughout the start of the year, keeping our portfolio of Algarve properties at the centre of their social feeds.
This engagement is the key to early booking success, so owners need to embrace the power of marketing to get their property on the map for the summer season.
The summer is looking bright
There is nothing more exciting than a busy peak season here in the Algarve – and it’s shaping up to be the best yet. This is an excellent indicator for property owners in the region and it means this year could be the chance to take their rental proposition to the next level. That is certainly the goal for the SandyBlue team!
By Joe Mountain
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Joe Mountain is founder of Algarve villa rental specialists SandyBlue.
289 392 236 | www.sandyblue.com