The Algarve’s Sotavento – the eastern stretch of coastline – has been given a major plug in the Financial Times property section.
Writer Laura Latham reports that it offers buyers “less glitz” than popular areas in the centre, but correspondingly that means they get more for their money.
Talking to regional estate agents, the FT stresses that average prices per sq/ m in the eastern region can be as much as 50% less than central resorts – and the reality is suddenly bringing buyers flocking.
“Things are becoming buoyant”, said one agent, stressing interest is particularly keen from French and Scandinavians – many further encouraged by the attractions of Portugal’s non-habitual residency regime.
With the Algarve already secure in its position as “one of the most popular second-home destinations in Europe”, the bottom line is that conditions now are perfect: the downturn in the market of 2008 is history, prices have barely changed since the crash, and tourism is ramping up.
The other ‘plus point’ for those seeking authenticity as opposed to glitz is that the Sotavento – starting in Olhão and running all the way to Vila Real de Santo António – has this in spades.
