Oceânico Group launches multi-resort sales drive as Algarve property market swings into overdrive

The Oceânico Group has announced it is selling properties at three of its Algarve resorts – the Amendoeira Golf Resort, Belmar Spa & Beach Resort and Baía da Luz – as the nation’s property market starts to show “significant signs of recovery”.

“Homebuyers can move straight in, with all resort facilities fully operational around them. They offer excellent value for money, as well as strong rental returns, and are consistently rated ‘excellent’ on Booking.com and TripAdvisor,” says chairman of the group Chris Howell.

At Alcantarilha’s Amendoeira resort properties are going for prices of around €250,000 for a two-bedroom apartment to over €1.2 million for a four-bedroom villa.

In Lagos, studio apartments are on the market for €116,900 while a 115.60sqm townhouse costs around €342,000 at the Belmar resort.

Finally, the property offer at the Baía da Luz resort in Praia da Luz features one-bedroom apartments for the price of €148,000 and two-bedroom duplex apartments for €295,000.

“Our magnificent beach and golf resorts are now fully completed and offer so much to suit all ages and tastes,” said Howell, adding: “Each of the homes are finished to a very high standard and come fully furnished.”

The group stressed that “after a halt in property sales due to the global economic crisis” the Algarve and Portugal in general are finally bouncing back.

“Over the last 18 months, a low supply and increasing demand has meant that prices are starting to rise.”

Elsewhere, Charles Weston-Baker from global real estate services provider Savills agrees, saying the upturn offers “a rare opportunity in terms of the European leisure real estate market.

“It is more than eight years since we have seen a multi-resort owner launch a range of high quality stock at such incredible value for money,” he added, forecasting interest “from both investors and those looking for a holiday home in the sun”.

For more info, visit http://www.savills.co.uk/promotions/oceanico.aspx

Photo: Belmar Spa & Beach Resort in Lagos