Algarve Property Survey 2

Recent survey examines “what drives property sales in Algarve”

The Portuguese Chamber of Commerce, in collaboration with DDM, a reputable property developer in the Algarve, has provided insight into the “preferences of potential property buyers in the Algarve”, following a survey completed in the autumn/winter of 2023.

The annual ‘Algarve Property Survey’ sheds light on the “top priorities of the UK buyers who are seeking property” in the region.

Some key findings highlight that over 92% of respondents strongly agreed or agreed that outdoor spaces, including gardens, swimming pools, and terraces, are paramount when purchasing a property.

Moreover, more than 67% strongly preferred detached homes, emphasising the desire to escape the disturbance of neighbours.

Algarve Property Suvrey 1

Additionally, the survey reveals that over 89% of participants highly value a good view, preferring properties overlooking nature or the sea. Notably, 42% of respondents preferred living within five minutes of nearby facilities, including supermarkets, restaurants, and health clinics.

Gerry Fagan, Chairman of Reserva da Luz, a sea-front villa development near Lagos, remarked on these findings, stating, “The similarity between these survey results and our sales trends in 2023 is unmistakable. Last year alone, buyers acquired 14 plots (ranging from 1,450 to 2,950 m²) at Reserva da Luz, which has wide-ranging ocean views of the Atlantic. Our sales pattern in 2023 demonstrates the escalating demand for personalised villas with panoramic views.”