Property News | The Algarve ‘still on everyone's wishlist'

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The Algarve 'still on everyone's wishlist'

Friday, March 19, 2010

Source: Catherine Deshayes

Sweeping beaches, year-round sun, the best golf courses in Europe. It's no wonder that Portugal's Algarve scores highly among British buyers looking for a second home.

The long-established Central Algarve with its top-hole tourism has overtaken the over-marketed newcomers in the Silver and Blue Coasts around Lisbon.

Property in the less-developed western Algarve might have suffered price drops of 30 per cent, but holiday homes in the so-called Golden Triangle have lost none of their lustre.

Prices in the tranche of coast between the two high-end golf resorts of Vale do Lobo and Quinta do Lago, with the town of Almancil at its apex, remain high.

'There's been little downward movement because most owners don't have to sell,' says Georgina Richards, of Knight Frank.

The key to the area's success is its track record. It's survived a downturn before and has the right ingredients to tempt buyers - beaches that don't get overcrowded, a 20-minute transfer from Faro airport, and first class resorts.

'On the Algarve, the Golden Triangle is on everyone's wish list - if they can afford it,' says Georgina.

Source: www.dailymail.co.uk