Where can I find luxury homes for sale in Algarve?
If you're searching for luxury homes for sale in Algarve, look no further! The Algarve region is rapidly becoming a hotspot for high-end real estate, driven primarily by North American buyers. With its stunning sandy beaches and picturesque fishing towns, this area offers an unmatched lifestyle perfect for discerning buyers seeking a permanent residence or a vacation getaway. Luxury properties here have seen dramatic price increases, with Savills reporting a rise of over 30% in last year alone. The influx of American tourists, now visiting in record numbers, has escalated demand for upscale options, contributing to a scarcity of prime listings. Renowned neighbourhoods like Quinta do Lago and Vale do Lobo continue to attract attention due to their exclusive amenities and vibrant communities. Whether you're buying for investment purposes or personal enjoyment, the Algarve represents an excellent opportunity for property buyers. Don't miss out on securing your dream home in this breathtaking location! Contact us now to learn more about available luxury listings.
According to Bloomberg, the wave of tourism is boosting business, especially from North American buyers who are heading to the country in record numbers: more than a million tourists from the US visited Portugal in the first half of 2024, almost double the number of visitors in the same period in 2022.
Visitors are heading in particular to the Algarve, for its famous sandy beaches, picturesque fishing towns and temperate climate all year round. From 2025, United Airlines will have a direct flight from Newark to the city of Faro, the gateway to the region.
“The top end of the Algarve real estate market has historically been dominated by British buyers, but that is changing,” says Kerstin Buechner, co-owner of Quinta Properties, a Savills affiliate in the region, quoted by the publication.
According to the expert, Americans have gone from making up less than 1% of luxury home buyers in the Algarve before the pandemic to becoming what she calls a “substantial percentage” today.
And the reality is that this is having an impact on prices. The first sale of more than 20 million, a record for the region, took place in 2022, and Buechner says Quinta Properties has already sold several properties at that level. As a result, prime supply is scarce, especially in the popular areas of Quinta do Lago and Vale do Lobo.
