Welcome to the QP Savills news hub. Here you’ll find the latest updates from our team, including market insights, company news, and details of the exclusive events we host throughout the year. From private property showcases to client gatherings, we share the moments that define our work and community. Whether you want to stay informed about the Algarve property market or see what’s happening behind the scenes at QP Savills, this is the place to begin.
Catch of the Season: The QP Savills Property Book is Out Now!
6th June, 2026
Few things capture the soul of Portugal quite like the sardine. Salted, grilled, and eaten outdoors with good wine and good company, it is a ritual as old as the coastline itself — and one that says something quietly profound about the country’s character.
Portugal’s relationship with the sardine stretches back centuries. By the early 19th century, the canning industry had transformed this small Atlantic fish into a global export, and annual festivals made the grilled sardine a centrepiece of national celebration. Today, the sardine remains one of Portugal’s most recognisable cultural icons, appearing on tiles, textiles, and the plates of the finest restaurants in equal measure.
But the sardine’s symbolism runs deeper than tradition. In coastal cultures across generations, sardines have represented prosperity and plenty — when the catch was good, communities thrived, and fortune favoured those who knew where to look. In Portugal, that spirit is woven into the national character as naturally as the Atlantic itself: an abundance that speaks to authenticity, to a way of life that is unhurried, deeply rooted, and quietly confident in its own worth.
Three Decades on the Algarve
At QP Savills, we recognise something of ourselves in that story. For almost thirty years, we have operated at the heart of the Algarve’s prime property market — through shifting economies, changing tastes, and an ever-evolving landscape of competitors. What has kept us here, and kept us leading, is the same thing that has sustained the sardine as Portugal’s most enduring symbol: a genuine, unshakeable passion for this place and the people who are drawn to it.
That depth of knowledge and continuity of care is not something that can be replicated overnight. It is earned slowly, over decades, and felt in every page of the guide we are proud to present today.
What’s Inside the QP Savills Property Book 2026
The most comprehensive luxury property guide in Portugal
The Algarve’s most exclusive villas, estates, branded residences, and beachfront homes — curated by QP Savills
In-depth market insights and 2026 transaction data from across the Golden Triangle and beyond
Lifestyle features on the region’s finest restaurants, golf courses, and resorts
Practical guidance for international buyers — from valuations and viewings to legal and tax considerations
Profiles of the QP Savills team — three decades of regional expertise in one place
Featured Locations in the Book
The Property Book covers the Algarve’s most sought-after destinations in depth — each with its own character, market dynamics, and lifestyle offering. Explore the locations the book features below:
The Wider Picture: Branded Residences & New Developments
The 2026 edition arrives at a pivotal moment for Portugal’s luxury market. Branded residences — operated by names like Six Senses, Conrad, and W — are reshaping the upper end of the Algarve and beyond. For a complementary view on the global branded segment, the Savills Branded Residences Annual Report 2025–2026 sits alongside this book as essential reading for buyers and investors.
To see the full collection of branded residences and new launches QP Savills currently represents — from Six Senses Comporta to Atlantic Pines — visit our Algarve New Developments & Branded Residences overview.
Read the QP Savills Property Book 2026
The most comprehensive luxury property guide in Portugal — curated by the region’s leading Savills affiliate. Available now as a free download.
The QP Savills Property Book is the annual flagship guide to luxury property in Portugal’s Algarve. The 2026 edition features curated villas, estates, and branded residences across Quinta do Lago, Vale do Lobo, Vilamoura, Loulé, and the wider Central and East Algarve, alongside market insights, lifestyle features, and practical guidance for international buyers.
How can I get a copy of the Property Book?
The 2026 Property Book is available as a free PDF download from this page. Printed copies are also available — speak with the QP Savills team to request one delivered to you, or to collect one at any of our offices in Quinta do Lago, Vale do Lobo, or Loulé.
Which Algarve locations does the Property Book cover?
The book provides in-depth coverage of the Golden Triangle (Quinta do Lago, Vale do Lobo, and Vilamoura), Loulé, the wider Central Algarve, and the increasingly sought-after East Algarve, including Faro and the Ria Formosa coast.
Is the QP Savills Property Book free?
Yes — the digital edition of the Property Book is free to download. Print copies are also complimentary on request.
How often is the Property Book updated?
The QP Savills Property Book is updated annually to reflect the latest market data, new developments, and changes in the Algarve’s prime property landscape. The 2026 edition reflects market conditions as of mid-2026 and is the most current edition.
For decades, Faro suffered a peculiar indignity: millions of tourists landed at its airport every summer and immediately drove away. The city that welcomed them all was, it seemed, merely a corridor — a place to collect luggage, not memories.
[ Hero image — Cidade Velha cobblestoned street at golden hour, jasmine-scented archway, Faro ]
That story is changing. Slowly, then all at once, Faro has been waking up — its medieval streets humming with new energy, its dining rooms earning international recognition, its waterfront reconnecting the city to the shimmering Ria Formosa behind it. This is the story of a city rediscovering itself. Faro is no longer just the gateway to the Algarve.
History & Roots
To understand Faro’s resilience, you have to understand its past. First settled by the Phoenicians, it flourished as the Roman city of Ossonoba, was shaped by eight centuries of Moorish rule, and was incorporated into the Kingdom of Portugal in 1249. In 1597, the Earl of Essex plundered it on his way home from Spain — many of its treasures ended up in Oxford’s libraries. In 1755, the great earthquake levelled most of southern Portugal. Faro’s Old Town, tucked inside ancient Roman walls, largely survived.
That walled quarter — the Cidade Velha, or Vila Adentro — remains one of the most intact medieval ensembles in southern Portugal. Cathedral, bishop’s palace, Roman arches, cobbled lanes scented with jasmine: it is a place that rewards the slow walk over the hurried glance.
10M+
Airport passengers (2025)
45
Airlines, including new NYC route (May 2025)
70,347
Municipality population (2024)
Urban Renewal
The most visible sign of Faro’s rejuvenation is literally underfoot. The municipality has been investing heavily in rehabilitating its historic pavements — the Cidade Velha, Largo do Carmo, Bom João, Santo António do Alto, and São Luís neighbourhoods are all receiving new cobblestones and improved pedestrian infrastructure. These are not cosmetic works: combined with the city’s largely pedestrianised historic centre, they are reshaping how people move through — and linger in — Faro.
The Vale da Amoreira Urbanisation Plan
On a grander scale, the Vale da Amoreira Urbanisation Plan (PUVA) represents one of the most ambitious development projects in Portugal today. Just one kilometre from the city centre, 21 hectares are being transformed into a mixed-use neighbourhood of 1,641 homes, retail, offices, student accommodation, and healthcare facilities — all anchored by a 10-hectare urban park that will become the largest green space in Faro, complete with cycle lanes, playgrounds, and sports facilities.
The Algarve Metrobus
Perhaps most transformative for the daily flow of the region is the Algarve Metrobus — a planned electric bus rapid transit system that will connect Faro, Olhão, and Loulé along 37.6 kilometres of dedicated lanes, running every 12 minutes during rush hour. The public consultation on the feasibility study concluded in March 2025, and the project forms a cornerstone of the Algarve 2030 programme.
[ Image — Aerial of the Vale da Amoreira site or Faro waterfront at dusk ]
Food & Gastronomy
If there is one arena where Faro’s renaissance is most deliciously apparent, it is the kitchen. The city’s dining scene has undergone a quiet revolution — one that has not sacrificed its soul for its ambitions.
At the fine dining end sits Alameda, where Faro-born chef Rui Sequeira crafts tasting menus recognised by the Michelin Guide, each dish rooted in local legend and Algarvian produce. The restaurant grew from a supper club the chef and his partner ran out of their own apartment — a story that says everything about the grassroots energy driving this renaissance. Nearby, CHECKin by Michelin-starred chef Leonel Pereira offers theatrical dining inside a beautifully remodelled historic warehouse, its menu structured like a journey from check-in to check-out.
But Faro’s food story is not only about Michelin stars. Traditional tascas still pack in Portuguese families at lunchtime. Petiscos bars like Se7e Pedras serve creative small plates in candlelit alleyways. Seafood restaurants draw on the Ria Formosa’s daily catch of prawns, clams, octopus, and sea bass. The city’s location — between the Atlantic and one of Europe’s great lagoon systems — gives its cooks ingredients that chefs elsewhere can only dream of.
Dishes to Seek Out in Faro
Arroz de marisco — a rich saffron-tinged seafood rice from the Ria Formosa catch
Cataplana — a copper-pot stew of clams, pork, and aromatic vegetables
Petiscos — Portuguese small plates of slow-cooked pork cheek, grilled sardines, and salt cod
Pastel de nata custard tarts from Pastelaria Padaria Centeio, best with an espresso
Algarve orange cake — dense and citrus-bright, made with the valley’s famous fruit
Nature & the Ria Formosa
Faro’s greatest natural asset has always been hiding in plain sight. The Ria Formosa Natural Park — a vast system of lagoons, salt marshes, tidal flats, and barrier islands stretching along the coast — is one of the most important wetlands in Europe and a crucial stopover for migratory birds. From the Portas do Mar wharf, ferries depart to Ilha Deserta, and the beaches of Culatra Island — some of the most unspoiled stretches of sand in the Algarve.
The city is increasingly embracing this natural border, not just as a backdrop for tourists but as a working landscape at the heart of local identity. Kayaking, birdwatching, and eco-tours into the park are now well-established, drawing visitors who want something beyond the pool-and-sunlounger circuit. The flamingos that stalk the shallows at dusk have become an unlikely symbol of everything Faro offers that the resort towns to the west do not.
[ Image — Ria Formosa flamingos at dusk, or boardwalk into the marsh ]
Looking Ahead
Lonely Planet recently described Faro as a new city-break destination — a designation that would have surprised visitors of even ten years ago. The city has earned it. Its prices remain geared toward local residents rather than weekend visitors. Its historic centre is compact, largely car-free, and ideal for the kind of aimless afternoon wandering that is, increasingly, the point of travel. A city tax introduced in 2024 (€2 per night in peak season) provides revenue to sustain the improvements already underway.
The transformation is not complete — urban regeneration rarely is. But the trajectory is unmistakable. Faro is no longer content to be the airport at the edge of a holiday region. It is becoming, in its quiet and unhurried Portuguese way, one of the most compelling small cities in southern Europe.
“Come for a night. Stay for the Ria Formosa at dawn, the cataplana at lunch, the tasting menu at dinner, and the cobblestones still warm underfoot long after the sun has set.”
Buying in Faro — QP Savills’ View
Increasingly, the people noticing Faro’s transformation are not just visitors but buyers — investors, second-home owners, and lifestyle relocators who recognise that the next decade of value in the Algarve will be unlocked east of the Golden Triangle, not within it. Faro and the East Algarve combine the lifestyle infrastructure that’s emerging in the city with prices that remain meaningfully below Quinta do Lago or Vale do Lobo, on a coastline arguably more dramatic and less developed.
QP Savills, the official Savills affiliate for the Algarve, represents a growing portfolio of properties across Faro and the surrounding East Algarve — from waterfront apartments and beachfront villas on Faro Island to country estates and projects within easy reach of the historic centre.
[ Image — Faro waterfront aerial showing marina + Ria Formosa + Old Town ]
Frequently Asked Questions
Where is Faro located?
Faro is the capital of Portugal’s Algarve region, located on the southern coast at the edge of the Ria Formosa Natural Park. Faro airport is the gateway to the wider Algarve and handles over ten million passengers a year, with direct connections to most of Europe and a new New York route added in May 2025.
Is Faro a good place to invest in property?
Faro and the wider East Algarve are increasingly recognised as the next wave of value in Portugal’s prime coastal market. Prices remain meaningfully below the Golden Triangle (Quinta do Lago, Vale do Lobo, Vilamoura), while substantial public-sector investment — the Vale da Amoreira urbanisation, the Algarve Metrobus, ongoing pedestrian and pavement renewal — is reshaping the city’s livability and long-term valuation profile.
What is the Ria Formosa Natural Park?
The Ria Formosa is a protected lagoon system of barrier islands, salt marshes, and tidal flats stretching along sixty kilometres of the Algarve coast. It is one of Europe’s most important wetlands, home to flamingos, seahorses and over two hundred bird species, and a year-round destination for kayaking, birdwatching and ferry trips to unspoiled beaches.
What is the Vale da Amoreira urbanisation plan?
PUVA — the Vale da Amoreira Urbanisation Plan — is one of the most ambitious mixed-use development projects in Portugal. Located one kilometre from Faro’s centre, it transforms 21 hectares into 1,641 homes, retail, offices, student accommodation, and healthcare facilities, anchored by a 10-hectare urban park.
How does QP Savills support buyers in Faro?
QP Savills is the Algarve’s official Savills affiliate, with over thirty years of regional transactions. Our team represents properties across Faro and the East Algarve and offers buyers a clear, informed view of the city’s evolving market — from waterfront apartments and beachfront villas on Faro Island to country estates and new developments within easy reach of the historic centre.
Considering a Move to Faro?
Speak with our East Algarve advisors for pricing, availability, and a market-view conversation.
People ask us this question constantly, and honestly, there is no single right answer. The best time to buy in the Algarve depends a lot on what matters most to you: price, choice, speed, or simply being able to see the property properly before you commit. Each season has something to offer, and each comes with its own trade offs.
What we can say, having worked this market for years through QP Savills, is that the buyers who do best are not necessarily the ones who time the market perfectly. They are the ones who arrive prepared, know what they are looking for, and move with confidence when the right property comes up. That said, understanding the seasonal rhythm does help, so here is an honest look at what each time of year looks like on the ground.
🌿 Spring When the market wakes up March to May
Spring is when the Algarve’s luxury property market properly comes alive. New listings appear, often representing some of the most considered homes to reach the market all year, as owners who have taken time over winter decide to move ahead. At the same time, serious international buyers begin arriving, already briefed, already qualified, and ready to act. The weather is excellent, warm and clear, and nowhere near the heat of July, which makes it one of the most enjoyable times to view prime property.
From a buyer’s perspective, spring offers choice at the top end. You see properties as they are meant to be experienced: gardens in bloom, pools prepared, and architecture presented in its best light. For high value homes, where lifestyle and setting are as important as specification, this matters. There is a reason a significant proportion of prime transactions are initiated between March and May. It is far easier to connect with a property when it is being shown at its full potential.
The flip side is competition. Well priced villas in established prime locations, particularly in areas such as Quinta do Lago and Vale do Lobo, can attract multiple serious buyers within days. In this segment, hesitation can mean losing the property altogether. Buyers arriving in spring need to be prepared to move decisively when the right opportunity presents itself.
Spring is also a highly strategic moment for buyers considering rental. Completing ahead of summer allows a property to be positioned immediately within the peak season, capturing high value bookings from the outset rather than missing the strongest trading period of the year.
Best for: Choice at the top end, optimal viewings, immediate rental positioning
☀️ Summer The experience you are buying into June to August
Summer in the Algarve represents the market at its most visible and most active. Demand is at its highest, particularly from international buyers spending extended time in the region, and pricing reflects that confidence. Prime coastal and resort properties are rarely negotiable at this point in the year, and anything exceptional is unlikely to remain available for long.
What summer offers is clarity. Viewing in peak season allows buyers to experience the Algarve exactly as it is intended to be lived in. Beach clubs are active, restaurants are full, and the rhythm of each area becomes clear. For many high net worth buyers, this is an essential part of the decision making process. It is one thing to admire a property in isolation, and another to understand how it performs within its environment at its busiest.
It is also during summer that preferences often become more defined. Some buyers realise they value privacy and distance from the busiest areas, while others are drawn more strongly towards the energy of beachfront or central resort locations. This clarity can be invaluable when making a high value purchase.
For existing owners, summer often represents the optimal selling window, which in turn supports onward purchases. For investors, it is the period where premium rental returns are realised. For buyers who prioritise certainty over price sensitivity, there is a strong case for viewing in summer. The key is understanding that any property that stands out to you is likely to stand out to others as well.
Best for: Lifestyle validation, peak season insight, high confidence decision making.
🍂 Autumn The quiet sweet spot September to November
Autumn is often where the most considered transactions take place. The intensity of summer subsides, but the quality of light, climate and lifestyle remains. September and October, in particular, offer some of the most enjoyable conditions of the year, with a calmer, more measured atmosphere across the region.
From a market perspective, this is when positioning begins to shift. Sellers who entered the market in spring and did not transact over summer start to reassess. In the luxury segment, this can translate into a more pragmatic approach to negotiations, particularly for properties that have been exposed for some time.
At the same time, a new wave of properties often comes to market. Owners who have enjoyed the season begin preparing for the next cycle, which refreshes available stock without the heightened competition seen earlier in the year. For buyers, this creates a window where choice and negotiating conditions are more balanced.
At QP Savills, we consistently see well prepared buyers secure some of the most compelling opportunities during this period. There is time to conduct due diligence properly, discussions tend to be more constructive, and decisions are made with greater clarity on both sides.
Best for: Strategic negotiation, balanced conditions, well considered acquisitions
🌊 Winter The buyer’s market December to February
Winter is where disciplined buyers gain an advantage. The Algarve becomes quieter, particularly in January, and transactional activity slows. For sellers holding properties that have been on the market since autumn, this period often brings a reassessment of expectations. In the prime segment, pricing is not driven by urgency in the same way as the mid market, but flexibility does increase. Properties that have not secured a buyer over the preceding months may be more open to structured offers, particularly from buyers who can demonstrate readiness to proceed.
Inventory is more limited, and not all high quality homes are brought to market during this period. However, the properties that are available are often owned by sellers with a clearer motivation to transact. For buyers who are prepared, this creates leverage that is rarely available during the rest of the year.
There are, naturally, trade offs. Properties are not always presented at their seasonal best, and viewing conditions are more subdued. But for experienced buyers, the focus is less on presentation and more on underlying quality, location and long term value. For cash buyers, or those able to move without delay, winter can offer access to opportunities that would be far more competitive at other points in the cycle.
Best for: Negotiation leverage, access to motivated sellers, opportunistic acquisitions
So, what is the honest answer?
If price is your primary focus, winter offers the strongest negotiating position, particularly in January and February. If your priority is access to the best selection of prime property, spring provides the greatest choice, provided you are ready to act. If you want to fully understand the lifestyle you are buying into, summer offers complete clarity. And if you are looking for balance across all factors, autumn is often the most effective window.
What matters more than timing, however, is preparation. The buyers who consistently secure the best properties are those who are ready to move when the opportunity arises. In the prime market, hesitation rarely results in a better outcome.
A note on the broader market: Algarve property prices rose 9.3% year on year in 2025, with the luxury segment seeing a 10% increase in transaction volumes in Q1 alone. Pricing remains supported by limited supply and sustained international demand. Waiting for the perfect moment can mean missing the right property. In many cases, the best time to buy is simply when you are ready.
How QP Savills can help
We have been advising on luxury property in the Algarve for over 30 years, and we understand that no two buyers approach the market in the same way. Some are focused on timing, others on securing a specific type of property, and many on long-term value and lifestyle.
Our role at QP Savills is to align those priorities with the realities of the market. That means identifying the right opportunities, advising on timing, and ensuring that when the right property becomes available, you are in a position to act with confidence.
Whether you are considering a winter purchase or planning a spring search, we are always available for a straightforward conversation about what is currently on the market, what is coming, and where we see the most compelling opportunities.
When you buy property in Portugal, there are a few taxes to be aware of upfront. IMT is usually the largest of them, and it surprises buyers who haven’t budgeted for it. Here’s what it is, how it’s calculated, and what you might be able to avoid.
So, what is IMT?
IMT stands for Imposto Municipal sobre as Transmissões Onerosas de Imóveis — which translates roughly as Municipal Tax on Property Transfers. In plain terms, it’s the tax you pay to the Portuguese government when you buy real estate. Think of it as the country’s version of stamp duty land tax in the UK, or transfer tax in other markets.
It’s a one-off payment, settled before the final deed is signed. You won’t pay it again each year; that’s a separate tax called IMI, which we’ll touch on briefly at the end. IMT is purely a purchase cost.
The rate isn’t flat. It depends on three things: the value of the property, whether it’s going to be your primary residence or a second home, and whether it’s located on the mainland or in the Azores or Madeira.
How is it calculated?
Here’s something that catches people out: IMT isn’t always calculated on what you actually pay for a property. It’s calculated on whichever is higher — the declared purchase price in the deed, or the official tax value of the property, known as the VPT (Valor Patrimonial Tributário). In most Algarve transactions, the purchase price is higher, so that’s what gets used. But it’s worth being aware of.
The rates are progressive, meaning they increase in brackets as the property value rises. For a primary residence on mainland Portugal in 2025, the structure looks like this:
For most luxury property purchases in the Algarve, you’ll typically land in the 7% to 8% bracket. The rate applies to the total purchase price but there are fixed deductions built into each band, which means your actual effective rate ends up lower than the headline figure.
A practical example: If you’re buying a villa at €800,000 as a second home, your IMT would be calculated at a flat 8% on that amount. That’s €64,000. For the same property as a primary residence, the calculation uses the progressive band structure with deductions, bringing the figure down noticeably. The distinction between primary and secondary residence matters a great deal here.
Second homes and investment properties
Second homes and rental properties don’t benefit from the primary residence brackets. The rates are slightly different and, importantly, there’s no lower-value exemption. For urban properties being purchased as a holiday home or investment, a flat rate of 8% applies across the board once the value exceeds the first bracket. For rural land, the rate is 5% regardless of intended use.
Commercial properties have their own flat rate of 6.5%, no matter where they are or what they’re worth.
Who might be exempt?
There are a few situations where you can reduce or eliminate IMT entirely.
Young first-time buyers (under 35)
Since August 2024, buyers aged 18 to 35 purchasing their first primary residence can claim a full IMT exemption on properties up to €324,058. If the property is worth more than that — up to €648,022 — a reduced rate of 8% applies with a significant deduction. This applies to the stamp duty as well. It’s a meaningful saving for anyone who qualifies, and it’s not retroactive, so it only applies to deeds signed after 1 August 2024.
Urban rehabilitation
If you’re buying a property in a designated Urban Rehabilitation Area (ARU) with plans to renovate, you may be eligible for an IMT exemption. The property generally needs to be over 30 years old, and the works must begin within three years of purchase. This is more relevant for urban town houses and older village properties than for new Algarve villas, but worth knowing if you’re buying a renovation project.
Buildings of national or public interest
Officially classified heritage buildings are exempt from IMT. If you’re buying a listed property — a quinta with protected status, for example — your lawyer will be able to confirm whether this applies.
When do you pay it?
IMT has to be paid before the final deed is signed. Your Portuguese lawyer (called a solicitador or advogado) will guide you through the process — they’ll calculate the amount due, prepare the relevant forms, and make sure payment is made to the tax authority (Autoridade Tributária) in advance of the notarial appointment.
This isn’t something you can settle later. No payment, no deed. It’s one of the reasons having a good local lawyer is so important when buying in Portugal.
What else do you pay at the same time?
IMT doesn’t come alone. At the same time, you’ll also pay:
Stamp Duty (Imposto do Selo) — a flat 0.8% on the purchase price. It’s modest compared to IMT, but it’s worth factoring in. If you’re taking out a mortgage, there’s an additional stamp duty on the loan itself: 0.5% for loans under five years, or 0.6% for longer terms.
Notary and registration fees — typically around 1% combined, covering the deed itself and the land registry update.
So the full picture of upfront purchase costs, on top of the agreed price, is generally IMT plus roughly 1.8% to 2% more. For a €1 million purchase, that means setting aside somewhere in the region of €80,000 to €90,000 for taxes and fees, depending on how the property is classified.
A note on IMI
Once you own the property, you’ll pay IMI each year — the annual property ownership tax. In most Algarve municipalities, this sits between 0.3% and 0.4% of the property’s VPT (not the market value, which is usually considerably higher). It’s modest by international standards, and nothing like IMT in terms of scale.
Can offshore structures or company purchases change anything?
Buyers sometimes ask about purchasing through a company or offshore structure. The rules here have tightened considerably over the years. Shares in offshore companies that hold Portuguese real estate are still subject to IMT when the shares change hands. Properties held by companies in blacklisted jurisdictions attract a flat IMT rate of 10%. This is an area where you really do need specialist legal and tax advice before structuring anything — the savings, if any exist at all, come with significant compliance obligations.
The bottom line
IMT is not optional and it’s not small. On a luxury property in the Algarve, it will typically represent your biggest single transaction cost after the purchase price itself. The key is knowing about it early, budgeting for it properly, and making sure you understand whether you’re buying as a primary residence or a second home, as that single distinction can change the final number quite significantly.
If you’re unsure what your IMT liability would look like on a specific property, speak to your lawyer before making an offer. And if you don’t yet have a lawyer, our team is happy to point you toward trusted advisors we work with regularly throughout the Algarve.
This article is intended as a general overview for informational purposes only and does not constitute tax or legal advice. Tax rules change, and individual circumstances vary. Always consult a qualified Portuguese tax adviser or solicitor before proceeding with a purchase.
A Conversation With Some of the Women Behind QP Savills
9th March, 2026
I am sitting here with four of the women who help shape the direction of QP Savills. It is International Women’s Day, and around the table are Alison Buechner, Co Owner and Director, Monica Mendes, Chief Revenue Officer, Giselle Pisabarro, Loulé Sales Director, and Amy Kerins, Marketing Director. Their journeys into property, leadership and the Algarve could hardly be more different. Germany, South Africa and Ireland. Careers spanning finance, marketing, trading floors and property sales. Yet as the conversation unfolds, a shared philosophy quickly emerges about leadership, resilience and the importance of lifting others up along the way.
Monica Mendes speaks first. Born in South Africa to Portuguese parents, she joined QP Savills as Sales Director for the Central Algarve and quickly established a strong regional presence before moving into her current role as Chief Revenue Officer, where she now oversees the company’s broader sales strategy. For Monica, leadership is about balance.
“Being a woman in business means leading with both strength and empathy,” she says. “It means understanding that you do not have to choose between being ambitious and being human.”
She believes women often bring a distinctive perspective to leadership, combining emotional intelligence and intuition with commercial clarity. Those qualities, she explains, allow leaders to build strong relationships while still making confident decisions. She also reflects candidly on the challenges many women face when navigating leadership roles. There are still expectations, she says, about how assertive a woman should or should not be.
“There can be assumptions about how assertive a woman should be, or surprise when you are decisive and commercially firm,” she explains. “Clarity and preparation are powerful tools. When you know your market, your numbers and your strategy, confidence follows.” When the conversation turns to advice for younger women starting their careers, Monica’s message is simple and direct. “Do not shrink yourself to make others comfortable. Speak clearly. Ask questions. Challenge respectfully. Leadership requires visibility.” She pauses for a moment before adding something she clearly feels strongly about. “Believe in your capability before you feel ready. Confidence often comes after action, not before it.”
Across the table, Amy Kerins nods in agreement. With nearly two decades of experience in marketing across globally recognised brands, she now leads the marketing team at QP Savills, bringing both strategic vision and creative energy to the company’s growth. Originally from Ireland, Amy moved to the Algarve with her family several years ago. One of the defining chapters in her career was a four year break when the family relocated to Portugal for her husband’s role. At the time, she worried that stepping away might slow her professional momentum. Looking back now, she sees it very differently.
“That time actually did the opposite,” she explains. “It gave me space to reflect and grow personally. I returned to work with more confidence, more conviction and a much stronger ability to manage both upwards and downwards.” The experience reshaped how she thinks about career paths, especially for women. “Careers aren’t always linear,” she says. “Sometimes the moments that feel like pauses or setbacks are actually the periods where you grow the most.”
Amy also speaks warmly about the person who inspired her long before her own career began. “My mum has always been my biggest inspiration,” she says with a smile. “She’s in her eighties now but still has more energy and determination than most people half her age.” Her mother also worked in marketing and built long standing relationships with clients over many years. It is something Amy believes sits at the heart of good business. Today, Amy’s perspective is shaped as much by motherhood as by marketing strategy. Her daughters are eight and ten, and watching their natural confidence reminds her how important it is to protect that sense of possibility.
“They see no limits,” she says. “For me, raising them is about protecting that belief in themselves and helping them grow into strong, kind and confident women who feel they can do anything.”
Giselle Pisabarro brings yet another perspective to the discussion. Before relocating from South Africa to the Algarve in 2022, she spent more than twenty years as a Derivatives Sales Trader on the Johannesburg Stock Exchange, a demanding and fast paced environment where women were often the minority. That experience taught her early on how important it was to be assertive and confident.
“I spent twenty years working in a very male dominated environment,” she says. “I often felt like I had to prove myself, that I could do the job just as well, if not better, than my male colleagues.” Those years shaped how she approaches leadership today. For Giselle, being a woman in business is not about competition with other women. It is about support. “It’s about supporting other women without seeing them as competition, and expecting that same support in return,” she explains.
She believes workplaces are strongest when people feel comfortable sharing ideas and speaking openly. Creating that kind of culture, she says, is just as important as achieving strong commercial results. Her advice to younger women entering leadership is refreshingly honest. “Don’t wait until you feel one hundred percent ready, because you probably never will,” she says. “Growth really happens when you push yourself outside of your comfort zone.”
Finally, Alison Buechner reflects on the bigger picture. Born in Germany and educated across Europe and the United States, she first arrived in the Algarve in 1997 and quickly discovered a passion for property. She joined Quinta Properties in 1999 and just two years later took over the company. Together with her sister Kerstin, she has spent the past three decades building one of the most successful property businesses in the region.
Listening to the others speak, Alison nods often. Much of what they describe echoes the values she has tried to embed in the company since the beginning. For her, leadership has always been about fairness, consistency and heart.
“Being a woman in business, to me, means leading with fairness and a lot of heart,” she says. “You can be strong and kind at the same time, and how you treat people truly matters.”
Her advice to the next generation of women is direct. “Don’t wait for things to happen. Don’t expect opportunities to present themselves. Create them. Step forward. Back yourself. Opportunities grow when you do.”
As a mother to three daughters, she hopes they see that leadership does not require fitting into someone else’s mould. “I want them to see that leadership can be both strong and warm,” she says. “That you don’t need to shrink yourself to succeed.”
After three decades of building a business, Alison reflects on the journey with quiet pride:
“Thirty years. Grateful. Proud. And still moving forward.”
Spring is one of the most beautiful times of year in the Algarve. The countryside is green and filled with wildflowers, village squares come alive with festivals, and the warmer days invite people outdoors again. Across the region you will find a wonderful mix of traditional food fairs, cultural festivals, guided walks and seasonal celebrations.
Whether you are exploring a quiet village in the hills or enjoying the atmosphere of one of the Algarve’s coastal towns, there is plenty happening over the coming weeks. Here are some of the highlights across the region.
Within Quinta do Lago, restaurants and venues host a variety of seasonal events throughout the spring , including celebrations, themed evenings and family activities.
International Women’s Day Pure and Casa do Lago 8th March
Cheltenham Horse Racing Dano’s 10th to 13th March
UK Mother’s Day Lunch Casa do Lago 15th March
St Patrick’s Day Celebrations Quinta Shopping 15th March
St Patrick’s Day Concert Wyndham Grand Algarve 17th March
Easter Bunny Art Workshop Magnolia Hotel 4th April
Easter Egg Hunt Driving Range 5th April
Central Algarve
The central Algarve offers a wonderful blend of cultural heritage, historic towns and beautiful countryside. Spring brings music events, culinary workshops and one of the region’s most unique traditions.
Al Mutamid Music Festival, Loulé 7th March A concert celebrating the musical traditions of Al Andalus, held in the historic town of Loulé.
Easter Loaf Workshop, Gama Lobo Palace, Loulé 15th March A hands on workshop where participants can learn how to prepare traditional Portuguese Easter bread in the beautiful setting of Gama Lobo Palace.
Festival of Flower Torches, São Brás de Alportel 5th April One of the Algarve’s most colourful Easter traditions. The streets are covered with intricate carpets of flowers, while men carry hand made torches decorated with wildflowers through the town.
Hiking Festival, Ameixial 24th to 26th April A weekend dedicated to guided walks through the rolling hills of the Serra do Caldeirão, offering a wonderful way to experience the Algarve’s rural landscapes.
East Algarve
The eastern Algarve is known for its charming villages, relaxed pace of life and strong sense of tradition. Many of the spring events here celebrate local food, music and community.
International Women’s Day Celebration, Pereiro 8th March A community gathering marking International Women’s Day with local activities and celebrations.
Hot Bread and Fresh Cheese Festival, Vasqueiros 8th March A traditional food festival dedicated to freshly baked bread and regional cheeses.
Al Mutamid Music Festival, Tavira 15th March Part of the renowned Al Mutamid Festival, celebrating the musical heritage of Al Andalus through performances inspired by Arabic and Mediterranean traditions.
Poppy Walk, Pereiro 22nd March A scenic spring walk through the countryside when the fields are often filled with vibrant wild poppies.
Feira dos Doces d’Avó, Alcoutim 3rd and 4th April A much loved celebration of traditional Algarvian sweets, where local producers share family recipes and regional delicacies.
West Algarve
In the western Algarve, coastal towns and rural communities welcome spring with a mix of cultural events and outdoor activities.
Woman’s Celebration, Odiáxere 8th March A local community celebration marking International Women’s Day.
International Women’s Day Celebration, Lagos 8th March Events across Lagos celebrating women and community initiatives.
Guided Walking Tour, Lagos 21st March A guided walk through the historic centre of Lagos, offering insight into the town’s rich history and architecture.
Spring Festival, Moinhos 21st March A welcoming village festival celebrating the arrival of spring with food, music and community gatherings.
From traditional village festivals to lively resort celebrations, spring in the Algarve offers a wonderful opportunity to experience the region’s culture, community and natural beauty.
At QP Savills, we never rest on our reputation – no matter how strong it is. After almost 30 years at the forefront of luxury real estate in the Algarve, we continue to reinvent, reinvest and raise the bar. The market is thriving, our team is growing, and our energy has never been higher.
Fresh Ideas, New Energy
New talent has joined our team, bringing fresh ideas, ambition, and a deep understanding of how technology can elevate everything we do. Innovation is part of our DNA, and we’re proud to say that QP Savills continues to lead the way – in marketing, service, and results.
A Beautiful New Home – The Brand New qp.pt
We are enormously proud to launch our new website. Not because it’s shiny and new (although it is), but because it reflects everything we’ve learned over decades about how to market our clients’ properties properly. Thoughtful, intelligent and built with the very best people in the business — just like our service.
The new qp.pt combines style with substance, showcasing some of Portugal’s finest homes through a seamless digital experience designed to do one thing brilliantly: make sure our clients’ properties are seen where it matters. Powered by advanced technology, the site places your home in all the right places, in front of the right people, and firmly on the radar of our global audience of serious buyers.
Finding the right home is now faster, smarter and far more intuitive, with map-based search, lifestyle-led filters and a clean, responsive design that works beautifully on every device. No clutter. No guesswork. Just the right homes, presented properly.
And when technology has done its job, a real person is always there at the touch of a button. Because while clever tech is essential, there is still no substitute for exceptional personal service – delivered with experience, warmth and invaluable local market insight.
Be Seen Where It Matters is the anchor of our new marketing campaign and will soon be appearing across local billboards, radio and international digital channels. We expect a powerful surge in traffic. Our website has always been our strongest source of new enquiries, and with the new qp.pt we are ready to reach a wider audience, connect with our target market in smarter, more dynamic ways and once again raise the bar for the service we deliver to our clients. Quite simply, the new qp.pt turns the volume up.
In the second half of 2025, Portugal’s residential property market demonstrated renewed strength, underpinned by rising transactional activity and accelerating price growth. Total property transactions reached 42,889 units, representing an increase of 15.5% year on year, while total transaction value rose sharply to €10.27 billion, up 30.4% compared to the same period in 2024. Residential values continued to push higher. The Portuguese Housing Price Index increased by 17.2% year on year in Q2 2025, with continued momentum through the second half of the year.
More recent figures from the National Institute of Statistics show the Housing Price Index rising approximately 17.7% year on year in late 2025, maintaining strong upward pressure on prices nationally. Median bank appraisal values reached around €2,025 per square metre in October 2025, reflecting sustained demand, with particularly strong growth in key urban and coastal regions. These trends place Portugal among the fastest growing markets in Europe, with price increases markedly above the wider Eurozone average. This performance reflects a combination of constrained housing supply, resilient domestic demand and sustained international interest, particularly in lifestyle led regions.
Algarve Performance
Portugal’s most resilient and internationally driven residential markets. QP Savills By August 2025, average residential values reached approximately €3,467 per sqm, representing annual price growth of 9.3%. Price growth was particularly pronounced in municipalities including Loulé, Lagos, São Brás de Alportel and Silves, where limited supply and strong demand continue to support upward pressure on values. Luxury villas in the Central Algarve outside of developments now average €6,250 per square metre. Some have reached €10,000 per sqm. International purchasers remain a defining force. Foreign buyers accounted for over 30% of all residential transactions across the Algarve, rising to more than 80% in prime luxury locations, underlining the global nature of demand at the upper end of the market.
Capital Flows & Structural Drivers
Price growth continues to be driven by a persistent imbalance between supply and demand, supported by strong capital inflows and a stable macroeconomic environment. Over the past 12 months, foreign direct investment into Portugal totalled approximately €13.2 billion, representing annual growth of 19%, with €3.5 billion allocated directly to real estate. Portuguese banking data continues to point to rising residential values alongside a worsening housing shortage, particularly in established, high demand locations. These conditions reinforce Portugal’s positioning as a low volatility, long term residential market, attractive to international buyers seeking stability, lifestyle and capital preservation.
Portugal: Economic & Investment Context
Portugal enters 2026 with renewed international credibility. In 2025, the country was named “Economy of the Year” by The Economist, reflecting a rare combination of GDP growth, low inflation, employment stability and strong equity market performance. Government forecasts point to economic growth of approximately 2.0% in 2025, accelerating to 2.3% in 2026, placing Portugal above the EU average at a time when many Northern European economies remain under pressure. By the end of the third quarter of 2025, total commercial real estate investment reached approximately €1.8 billion, representing growth of over 60% year on year. Average deal sizes increased sharply, signalling the return of larger, more confident investors, with demand focused firmly on prime assets in core locations.
Tourism & Lifestyle as a Structural Driver
Tourism remains a fundamental pillar underpinning the Algarve’s residential appeal, both economically and experientially. Hospitality and tourism in 2025 saw a shift towards yield, in terms of record prices per night (ADR), over volume. Algarve ADR is the highest in Portugal, with 6% year on year growth. With higher revenue per room, projects are focusing on quality, service and length of stay. With the highest summer occupancy levels in the country and resilient demand, luxury resorts are focusing on wellness, sport and events programming to smooth occupancy peaks and maximise returns. All these indicators are driving the development of the year round luxury appeal of the Algarve. This ongoing investment directly enhances the lifestyle proposition experienced by residential buyers, particularly in prime coastal and resort locations. For many international purchasers, the quality of restaurants, golf courses, beach services and wellness infrastructure is inseparable from the residential decision itself.
Algarve Residential Market Overview
Pricing in prime locations remained steady over the course of the year, particularly at the top end of the market, supported by limited supply and growing international demand. An interesting feature of the Algarve market in 2025 has been the emergence of regional “catch up” hotspots outside the established prime locations, notably São Brás de Alportel, Silves and Tavira, which all experienced double digit annual price growth. At QP Savills, this was reflected in an 11% increase in buyer leads and a clear uplift in transactional activity as confidence returned and purchasers acted more decisively.
Focus on Quinta do Lago
Quinta do Lago remains Portugal’s benchmark for prime residential value. Demand continues to significantly outweigh supply across all property types, particularly for new state of the art villas. Activity has been strongest below €10 million, where scarcity is most acute and demand remains consistently high. A number of transactions were completed in the €10 million to €20 million range during 2025, while demand above €20 million was more limited, resulting in very few transactions at the ultra prime end of the market, despite the availability of several exceptional properties. Nonetheless, several outstanding projects are now emerging within the wider area, and we believe these will redefine the very top end of the market, with future pricing expected to exceed €30 million sooner than many anticipate. Owners remain under no pressure to sell, a key indicator of long term value protection.
Focus on Vale do Lobo
Vale do Lobo continues to attract a broad but highly engaged buyer profile, ranging from long standing resort clients to first time Algarve buyers seeking proximity to the beach, established infrastructure and strong rental return. Demand during 2025 was particularly consistent for frontline and near frontline properties, as well as villas within walking distance of the Praça and golf facilities. As in Quinta do Lago, supply remains constrained and pricing has shown resilience where properties are correctly priced and well positioned. Vale do Lobo’s strength lies in its balance, offering lifestyle, accessibility and a strong sense of place that appeals equally to holiday homeowners and longer term residents. Both Quinta do Lago and Vale do Lobo offer buyers peace of mind with year round security and resort management services.
Vilamoura
Vilamoura is increasingly defined by long term, strategic investment rather than cyclical development. Significant capital is being directed into enhancing the destination’s global profile, with infrastructure and lifestyle projects extending well beyond residential real estate. The creation of a world class equestrian centre and the members only golf course, The Els Club Vilamoura, exemplify this shift. Combined with ongoing upgrades to the marina, hospitality and public realm, Vilamoura is attracting a broader and more international buyer base.
Our Loulé Office
Loulé has consolidated its position as the heart of the inland luxury belt. Buyers are seeking larger plots, more privacy and views, with clear scope for capital appreciation as demand radiates from the coast to the hills. In our Loulé office, covering the wider Central Algarve, the average achieved sales price increased from €1.9 million to €2.1 million, while the number of completed transactions more than doubled over the course of the year, a clear indicator of strengthening liquidity and buyer conviction. The value of exceptional countryside villas can now exceed €5 million, levels previously associated almost exclusively with coastal golf resorts.
New Homes & Branded Residences
New build residential property continues to play an increasingly important role in the Algarve property market, despite ongoing planning constraints and extended delivery timelines. Demand remains strongest for projects combining contemporary design, sustainability credentials and professional management. Where these elements align, new developments continue to attract decisive buyer interest, often at a premium to surrounding resale stock. Branded residences are emerging as a particularly compelling segment. Although still limited in number, schemes aligned with established hospitality or lifestyle brands benefit from enhanced buyer confidence through assurances around quality, service provision and long term asset management. For international purchasers, branded residences offer familiarity, simplicity and strong lifestyle appeal, reinforcing the Algarve’s evolution into a mature luxury destination. Early and pre completion purchase often represents a strong return on investment, as demand for completed new stock continues to far outweigh supply.
Buyers, Structures & Market Mechanics
Buyer behaviour has become increasingly deliberate, with a strong interest in turnkey, high quality properties. Compromised stock continues to struggle, while well priced, well presented homes are absorbed quickly. British buyers remain highly active, with many choosing to act earlier amid potential future fiscal changes at home. North American demand, long established in Lisbon and Porto, is now gradually extending into the Algarve, particularly around Lagos and, in the Central Algarve, often through high end rentals prior to purchase. Portuguese buyers are increasingly active at the top end of the market, reflecting growing domestic confidence and wealth creation. A significant proportion of new homes along the coast are now being acquired by the national market. Corporate ownership structures, once widely used across all price ranges, are now still commonly in use at the very top of the market but less so in other areas.
Outlook for 2026
Looking ahead, 2026 is expected to be characterised by continuity rather than correction. A lack of supply in prime locations, sustained international and national demand, and improving confidence all support a positive outlook.
Conclusion
Looking ahead, 2026 is expected to be characterised by continuity rather than correction. Buyer demand remains selective, values in prime locations have held firm, and activity continues to be driven by quality rather than urgency. This performance reflects enduring fundamentals: limited supply, strong infrastructure, political and economic stability, and lasting international appeal, all underpinned by an unbeatable lifestyle. Looking ahead, buyers will continue to favour quality, sellers will benefit from scarcity, and the market will reward realism and expertise.
For QP Savills, the message is clear. This is a market defined not by speculation, but by confidence, discipline and long term value.
Read the full QP Savills Algarve Luxury Residential Market Report 2026 here.
This January, Loulé will welcome a new cultural highlight with the inaugural Algarve Chamber Music Festival, opening with its first concert on 9 January 2026 at 9 pm at the Cineteatro Louletano. Tickets for the opening concert are now available via the Cineteatro Louletano website. QP Savills is proud to be a sponsor of this new cultural initiative, supporting the continued growth of the arts in the Algarve.
The opening evening marks the beginning of what is planned as an annual festival, bringing internationally recognised musicians to the region and strengthening Loulé’s position as a destination for high-quality chamber music. At QP Savills, supporting projects that add depth and value to local life is an important part of our commitment to the Algarve.
The festival’s Artistic Director is acclaimed international pianist Wu Qian, who has served as Artistic Director of the Surrey Hills International Festival in the UK for the past 15 years. With a strong focus on musical excellence and education, she now brings this experience to the Algarve, shaping a festival grounded in artistic quality and community involvement. The Algarve Chamber Music Festival has been established as a non-profit initiative. Beneficiaries include the Loulé Conservatory of Music and other regional teaching institutions. Participating musicians will also offer masterclasses and training opportunities, helping to extend the impact of the festival beyond the performances themselves.
The festival is honoured to receive institutional support from the President of the Câmara Municipal de Loulé, the wider municipality, the Cineteatro Louletano, and the Loulé Music Conservatory, reflecting a shared commitment to cultural development in the region. Designed as an inclusive and collaborative project, the Algarve Chamber Music Festival aims to bring together those born in the Algarve, those who have chosen to make it their home, and visitors who value its cultural life. The goal is simple and meaningful: to make exceptional music accessible, while strengthening connections between artists, students, and the wider community.
The first concert of the festival’s inaugural series takes place on 9 January 2026, marking the beginning of a long-term cultural project set to enrich Loulé and the Algarve for years to come. QP Savills is delighted to support this new chapter in the region’s cultural life.
Left to right: Amy Kerins, Marketing Director, Monica Mendes, Chief Revenue Officer, and Sales Executive Alexandra Ciorba in attendance.
The latest Savills Branded Residences Report shows that this sector is still growing at an impressive pace. There are now more than seven hundred branded residential projects around the world and by the end of 2025 that figure is expected to pass nine hundred. Dozens of new countries are entering the market for the first time and the pipeline stretches across more than ninety destinations. Resort locations are especially strong and continue to command the highest price premiums.
The report highlights that buyers place real value on trusted brands, quality service, and strong lifestyle offerings. On average, branded residences achieve a thirty three percent premium over comparable non branded homes, and in many resort destinations that premium is even higher. The strongest performers are the projects where design, service, amenities and location all work together to create a high quality living experience.
Another key trend is diversification. Hotel groups still lead the sector but more non hotel names are entering the space, from automotive and fashion to design and wellness. Many new schemes are stand alone residences rather than part of a hotel, especially in major cities where the brand already has a presence.
For markets like the Algarve this is encouraging. Demand for lifestyle focused resort living continues to rise and the report shows that buyers are increasingly looking for homes that offer comfort, reliability and easy access to the experiences they enjoy most. With growth continuing worldwide and strong appetite for branded resort living, the outlook for this part of the luxury property market remains bright.
How to Present Your Luxury Property to Maximum Sale Price
11th December, 2025
When selling a luxury property, presentation is everything. In today’s Algarve market, buyers aren’t just purchasing a home, they’re also buying a lifestyle. The way your property looks, feels, and even smells can influence not just how quickly it sells, but how much it sells for.
Here are some tips on how to make your home stand out and achieve the best possible price.
1. First Impressions Matter
Curb appeal sets the tone before a buyer even steps inside. Fresh landscaping, a tidy entrance, and a stylish front door make a powerful first impression. In the Algarve, go for Mediterranean elegance: a burst of bougainvillea, neat gravel paths, and soft exterior lighting that hints at warm evenings ahead.
2. Declutter and Depersonalise
Buyers need to imagine themselves living there. Remove personal items, excess furniture, and visual distractions. A clean, spacious environment helps the home’s best features take centre stage. Aim for “luxurious simplicity,” not empty minimalism.
3. Perfect the Lighting
Natural light is one of the Algarve’s greatest assets. Open shutters, curtains and windows, and use mirrors to enhance the sense of space. QP Savills employs a team of property-openers who prepare houses in advance of viewings. In the evenings, soft ambient lighting and candles create an inviting, resort-style atmosphere that buyers instantly connect with.
4. Stage Key Spaces
Highlight the lifestyle your property offers. Set the dining table with elegant tableware, place fresh flowers in the living room, or drape a towel by the pool to suggest relaxation. For villas, focus on outdoor entertaining areas; for apartments, make the terrace or view the hero.
5. Showcase Outdoor Living
In the Algarve, outdoor spaces often sell the home. Style terraces with lounge furniture, set up a shaded dining nook, and ensure the pool area looks pristine. Buyers want to picture long lunches, sunset cocktails, and year-round enjoyment.
6. Small Upgrades, Big Impact
Luxury doesn’t always mean large renovations. Fresh paint, modern fixtures, or new linens can refresh the look instantly.
7. Focus on Fragrance and Sound
The senses matter. A subtle, clean scent (like citrus or linen) and soft background music can create an emotional connection. Avoid anything too strong or artificial. Subtle sophistication is key.
8. Professional Photography & Video
Once your home is perfect, capture it beautifully. High-end buyers expect flawless visuals. A professional photographer or videographer who understands light, angles, and luxury presentation is essential. It’s your first impression online.
Selling a luxury home is about storytelling. You’re not just selling walls and windows, you’re presenting a lifestyle of sun, space, and sophistication. With the right preparation and presentation, your Algarve property can command attention and achieve its maximum value.
Winter in the Algarve feels a little different. The sun shines on, the days are mild, and Christmas arrives with a relaxed coastal vibe that’s hard to find anywhere else. This is the season where you can wander through Christmas markets with a cup of hot mulled wine under blue skies, enjoy cosy festive meals, and end the year with open-air concerts on the beach.
Here are some of our QP Savills selected favourite events happening this winter.
Festive Dining & Seasonal Experiences
Advent Sunday Roast at Dano’s – Quinta do Lago | Every Sunday, 7 – 28 December | 12 pm – 4 pm
Sunday roasts with a festive twist, perfect for families or friends seeking comforting flavours and laid-back Christmas vibes. Expect kids’ festive entertainment and weekly Christmas workshops with crafts, games and creative activities.
Christmas Brunch at Bovino Steakhouse – Quinta do Lago | 25 December | 12.30 pm – 6 pm
Celebrate Christmas Day with a festive brunch complete with seasonal dishes and live music. Children can enjoy face painting, glitter bar, balloon modelling, a bouncy castle and creative workshops.
Christmas at The Magnolia Hotel – Quinta do Lago | 25 December | 12.30 pm onwards
A warm, laid-back Christmas celebration. Enjoy a set-menu lunch, then return in the evening for a festive buffet dinner filled with holiday flavours and good cheer.
Algarve Chamber Music Festival – Cineteatro Louletano | 9 January | 9pm
This exceptional evening will launch the new Algarve Chamber Music Festival, an annual event bringing internationally renowned musicians to the Algarve. As a non-profit undertaking, any profits will go to local music-teaching institutions.
Christmas Markets & Seasonal Festivities
Across towns and villages, streets transform with lights, markets pop up with crafts and treats, and communities come together for parades, workshops and family activities. Whether you’re searching for handmade gifts, live entertainment or festive outings with the kids, the region offers plenty of ways to enjoy the holiday spirit in the sunshine.
QP Savills Christmas Party – Loulé Office | 13 December | 10 am – 12 pm
Join us for friendly company, engaging chats, holiday cheer, and a spread of festive treats.
Christmas in Lagos 2025 | 29 November – 10 January
Praça do Infante becomes the heart of a magical Christmas Bay, complete with Santa’s House, a Christmas Village, festive markets, shows, workshops, and storytelling. A wonderful celebration for families. Don’t miss the traditional Motorcycle Santa Parade on December 14th at 1pm!
Christmas in Faro | 29 November – 25 December | 10 am – 7 pm
Downtown Faro lights up for the season with music, entertainment, festive decorations and activities for the whole family. A bright and cheerful holiday atmosphere in the city centre.
Christmas in Monchique | 1 December – 8 January
Monchique celebrates “Monchique Natal” with a month of activities including a Christmas market, street theatre, circus acts, concerts, contests, wooden nativity scenes, carousel rides and live festive music.
Natalândia at Zoo de Lagos – Lagos | 5 – 24 December | 10 am – 5 pm
Zoo de Lagos invites families to a festive experience filled with seasonal decorations, animal encounters and Christmas activities for children.
Living Statues at Christmas 11th Edition – Lagoa | 12 – 13 December
A standout moment in Lagoa’s festive calendar, showcasing some of Portugal’s best living statue artists in a truly enchanting holiday atmosphere.
Vila Vita Christmas Market – Vila Vita Parc | 19 – 21 December | 2 pm – 7 pm
Stroll through elegant boutiques at the Piazzetta and enjoy festive treats including mulled wine, teas and local specialties. Entertainment for all ages in a luxurious seasonal setting.
New Year’s Eve Celebrations
As the year comes to an end, the Algarve fills with music, fireworks and gatherings from city squares to beachside promenades. From elegant gala dinners to lively open-air concerts, there are countless ways to welcome 2026.
Réveillon Julio Iglesias Experience – Vilamoura | 31 December | 7 pm | From 530€
Tivoli Marina Vilamoura hosts a gala dinner and exclusive show by Julio Iglesias Jr. followed by fireworks, DJ, open bar and late-night dining. Includes overnight stay and New Year’s Day brunch.
New Year’s Eve in Olhão – Jardim Pescador Olhanense | 31 December | From 10.30 pm | Free entry
The night begins with live music, followed by midnight fireworks along the Ria Formosa.
New Year’s Eve in Faro – Faro Downtown | 31 December | From 9 pm | Free entry
Faro rings in the new year with concerts, outdoor celebrations and fireworks in the heart of the city.
New Year’s Eve in Lagos – Praça do Infante | 31 December | From 10.30 pm | Free entry
Step into 2026 with the Algarve’s longest fireworks display at midnight, followed by live music into the early hours.
The Algarve shines in winter, not just for its weather, but for the spirit and community that fill each town. With festive markets, family events and lively New Year celebrations, there are so many ways to enjoy this season together.
We wish you a wonderful winter and a bright start to 2026.
Introducing Our New Quinta do Lago & Vale do Lobo Sales Director
26th August, 2025
At QP Savills, we are proud to have been at the heart of the Algarve’s luxury property market for over 25 years. As we grow and evolve, we are delighted to announce that Iain Begg, previously our Vale do Lobo Sales Manager and Senior Sales Agent for Quinta do Lago, has been promoted to Sales Director for both Quinta do Lago and Vale do Lobo.
Alison Hojbjerg, Co-Owner of QP Savills, comments: “This is an incredibly proud moment for us. Iain has been part of the QP family for four years, and during that time he’s proven himself to be an exceptional leader with an eye for detail, a passion for the Algarve, and a real dedication to clients. His promotion is richly deserved.”
Reflecting on his new role, Iain adds: “Working in my previous role in QP Savills has been a privilege, and I’ve enjoyed building strong relationships with so many wonderful clients. Expanding my focus to include Quinta do Lago is an exciting new challenge, and I’m looking forward to helping even more clients find their dream homes in the Algarve.”
This promotion strengthens our leadership team and reinforces our commitment to providing exceptional service in two of the Algarve’s most prestigious destinations.
If you would like to connect with Iain or learn more about opportunities in Quinta do Lago or Vale do Lobo, please get in touch with us at [email protected].
Despite a backdrop of global uncertainty, prime residential markets continue to show resilience. Capital values edged up by 0.7% in H1 2025 — but which cities are defying the trend and leading the way?
I’m keeping a close eye on:
• How buyer priorities are evolving
• What’s driving demand across different regions
• The real cost of buying, holding and selling prime property
As we reach the halfway point of 2025, this report outlines the current state of the Algarve luxury property market and the key trends observed so far. We’ve compiled this update based on activity in Quinta do Lago, Vale do Lobo, and the wider Central Algarve, where we have been active for over 25 years. This report is part of our quarterly series and aims to provide objective insight for those monitoring the Portuguese property market.
Ready to talk about what this market means for you?
Our team of specialists are here to help – get in touch today!
August is high summer in the Algarve, our hottest month of the year, which means most events take place in the cooler evenings. It’s also the season of sardines! From seafood festivals to open-air cinemas, and folkloric celebrations to kids’ workshops, there’s something for everyone this month. We’ve even included a dedicated section for family-friendly fun, just in time for the school holidays.
Here are some of our QP selected favourite events happening this August:
We’re opening the doors of our Loulé office on the main avenue for a relaxed morning of good conversation, bubbles, and a sweet summer treat.
Portimão Sardine Festival – Portimão | 5 – 10 August | 6 pm – Midnight | Free entry
A classic summer tradition. The riverside of Portimão comes alive with grilled sardines, local music, entertainment, and regional crafts. For those not keen on sardines, there’s a wide selection of food and drink to enjoy.
Albufeira Sardine Festival – Olhos de Água | 7 – 9 August | 8 pm – 1 am | Free entry
Enjoy fresh sardines, live music, and folklore performances, on one of QP’s favourite beaches, Olhos de Água.
Seafood Festival – Olhão Jardim Pescador | 14 August | 7:30 pm – 1:30 am | €10 adult €5 child
The Algarve’s biggest seafood celebration returns with fresh shellfish, regional dishes, and a packed programme of live music.
Nights at the Mirante – Monchique | 8 – 9 August | 7 pm – Midnight | Free entry
A fusion of music, food, and mountain views. Street food, live acts, and a relaxed atmosphere make this a perfect escape from the coastal heat.
FolkFaro – Faro | 17 – 23 August
FolkFaro brings together international dance, music, and costume in a celebration of cultural traditions. Expect parades, performances, workshops, and community spirit.
Dip in the Sea – Lagos Beach | 29 August | 11 am – 1 am | Free entry
A long-standing local tradition rooted in folklore, take a dip on August 29th to wash away the bad spirits and welcome the changing seasons. Festivities stretch from morning into the early hours.
White Night – Loulé | 30 August | Free entry
One of the Algarve’s biggest street parties. Dress in white and enjoy live music, street performers, light shows, and plenty of surprises as the town transforms into a glamorous summer send-off.
Outdoor Cinema Nights
Enjoy classic films under the stars. A few of our favourites this month:
Movies in the Park – Quinta do Lago Golf Course (Lilo & Stitch, Elio, and more!)
All Stars Cinema – rotating Algarve locations (Top Gun, Pretty Woman, and more!)
Creative Ape Outdoor Cinema – Lagos Marina (The Lion King, Bohemian Rhapsody, and more!)
For the Kids:
Dinosaur Valley – Albufeira Parque do Ribeiro | 1-24 August
Step into a Jurassic world with life-size dinosaurs, lights, and sounds. A magical experience for young explorers.
Silves Medieval Fair – Silves | 8 – 16 August | 6 pm – 1 am | €2 entry
Travel back in time with jousting tournaments, costumed performers, medieval food, and crafts. A family favourite every year.
Summer Workshop for Kids! – Loulé | Every Monday, Tuesday & Wednesday | 10 am – 3 pm
Creative, hands-on fun for children aged 6–10. From sewing and gardening to crafts and games, this is a wholesome and joyful way to spend summer days. Register: +351 914 462 313
Medieval Days – Castro Marim Castle | 27 – 31 August | From 3 pm
A five-day celebration of medieval life with fire eaters, falconers, jesters, live music, and re-enactments, all set against the dramatic backdrop of Castro Marim’s ancient castle.
August is your last full month of summer – so make the most of the long evenings, warm nights, and vibrant atmosphere across the Algarve. Whether you’re in the mood for sardines, sword fights, or starlit cinema, there’s something for everyone.
At QP Savills, our team is made up of both locals who have lived in the Algarve their whole lives and others who have chosen to make it their home. This mix gives us a deep and personal understanding of the region. We know the coastline well and have spent years helping people find homes near some of the world’s most beautiful beaches. These are the beaches we genuinely love – places we visit ourselves, and where we spend time with family and friends.
Central Algarve
This part of the Algarve is known for its luxury homes, lively atmosphere, and easy access to top restaurants, golf courses, and beach clubs. It’s also home to a few of our personal favourites.
Quinta do Lago Beach is all about space, privacy, and natural surroundings. It sits beside the Ria Formosa nature reserve and is perfect if you’re looking for a quieter beach experience near some of the Algarve’s finest homes and golf courses.
Vale do Lobo Beach has calm waters, stylish beach clubs, and a relaxed feel that draws both residents and visitors. It’s a favourite among many on our team, especially for its peaceful afternoons and easy access from nearby homes.
Praia da Falésia is one of the Algarve’s most striking beaches, with its dramatic red cliffs and wide sandy stretch. It’s ideal for long walks or quiet mornings by the water. Amy, our Marketing Director, loves starting the day with the cliff walk here, followed by a swim and lunch at Rocha Baixinha, a great little spot nearby.
Eastern Algarve
The eastern Algarve offers a slower rhythm. It’s popular with those looking for a peaceful lifestyle with traditional charm.
Tavira is a highlight for many of us, with its cobbled streets, local markets, and beautiful nearby beaches. Praia do Barril and Ilha de Tavira are both long, clean, and calm, perfect for swimming or quiet days by the sea. Nélia, another one of our Special Agents, loves Praia do Cabeço, near Vila Real de Santo António. “It’s a stunning stretch of coastline with golden sand and clear, tranquil water. It feels untouched, perfect if you want to avoid the crowds.”
Western Algarve
Out west, the scenery changes. You’ll find rugged cliffs, open beaches, and fewer crowds.
Praia da Arrifana and Praia do Amado are popular with surfers but are also great for anyone who enjoys natural landscapes and a quieter pace of life. Ross, one of our Special Agents, recommends Praia de Albandeira. “It’s a great kayaking alternative to the famous Benagil Cave, without the crowds. You can rent kayaks right at the steps to the beach. There’s a chilled café with a great view, and the sunsets are stunning. Perfect for sea swimming too.”
For us, living near the beach is more than just enjoying the view. It means early morning swims, watching the sun go down from your garden, and never having to search for parking on a summer day. These beaches offer clean, safe water, excellent conditions for swimming, and plenty of space to relax.
From a practical point of view, homes near the coast are always in demand, and the lifestyle they offer is hard to match. Whether you’re looking for a vibrant beachside community or a quiet escape close to nature, there’s a place here for you.
These are the beaches we know and love, and we’re here to help you find a home near one that fits your life!
As we reach the height of summer, the Algarve is buzzing with music, festivals, food and culture. Whether you’re a long-time local or visiting the region during the warmer months, there’s no shortage of things to do. Our team at QP Savills has gathered a selection of standout events happening across the Algarve in July. From starlit art exhibitions to relaxed seafood evenings by the sea, this is the perfect time to explore and enjoy the very best of our region.
Silves Beer Festival Silves | 16–20 July | Free entry Back for another round, this iconic event brings a modern twist to one of Portugal’s most historic beer festivals. Expect a festive atmosphere in the heart of Silves, with a wide range of beer, street food, and live entertainment.
The Artists Dream Sítio dos Quartos | Now until 6 July Hosted every three years by the Cavelti family, this open-air art exhibition showcases local talent on their private estate. This year’s theme, “dreams”, promises creativity, reflection and stunning pieces – we recommend visiting at sunset.
Noitada Portimão – Festival of Light, Art and Culture Portimão | 25–26 July | 7 pm–10 pm | Free entry Portimão lights up for two unforgettable nights. Wander through glowing installations, enjoy live music and street performances, and experience the magic of video mapping on the city’s buildings.
Ria Formosa Festival Faro | 31 July–10 August | 6 pm–2 am | Free entry A must for seafood lovers. This beloved food festival celebrates the local flavours of the Ria Formosa with daily entertainment and the freshest shellfish served in a vibrant setting near Faro’s old town.
As always, our team loves being part of the Algarve community and sharing these cultural highlights with you. If you’re thinking of making a move or simply want to know more about living in this beautiful part of the world, feel free to stop by one of our offices – we’re always happy to chat.
Wishing you a sun-filled July! The QP Savills Team
Portugal Property Terms Every American Buyer Should Know
5th June, 2025
Portugal Property Terms Every American Buyer Should Know
Interest from American buyers in Portuguese real estate has skyrocketed in recent years, and the Algarve is right at the heart of it. In fact, recent figures show that U.S. investment in Portuguese property has grown by over 40% in just two years, with Americans now ranking as the second-largest group of non-EU buyers.
If you’re an American, or any international buyer drawn to the Algarve’s luxury lifestyle, the process of buying property here can feel unfamiliar at first. Many terms used in Portuguese real estate don’t have direct translations or can carry different meanings than their U.S. counterparts.
To make your property search easier, we’ve created a helpful glossary of commonly used terms in Portugal’s property market, with U.S. equivalents where possible:
Portugal to U.S. Property Glossary
1. T1, T2, T3, etc.
– US Equivalent: 1-bed, 2-bed, 3-bed In Portugal, homes are categorized by the number of bedrooms using a “T” (short for typology). A T2 means the property has two bedrooms, regardless of how many other rooms it contains.
2. Villa
– US Equivalent: Detached single-family home In Portugal, a “villa” typically refers to a standalone home, often with a garden, pool, and more privacy. It’s a term frequently used in luxury real estate, particularly in the Algarve.
3. Condominium (Condomínio)
In Portugal, this term often refers to whether a property is located within a managed development, or block of apartments, and normally comes with a monthly fee owners pay for shared services and maintenance, not just the apartment itself.
4. IMT (Imposto Municipal sobre Transmissões)
– US Equivalent: Property transfer tax A one-time tax paid by the buyer when purchasing property. The rate varies depending on value and property type.
5. Stamp Duty (Imposto do Selo)
– US Equivalent: Real estate transfer tax (state/local level) This is a one-time 0.8% tax paid by the buyer on the purchase price of a property. It is typically paid at the time of the deed signing and applies to most property transactions in Portugal.
6. IMI (Imposto Municipal sobre Imóveis)
– US Equivalent: Annual property tax This municipal tax is paid yearly and is based on the property’s tax value, which is often lower than market value.
7. Promissory Contract (Contrato de Promessa de Compra e Venda)
– US Equivalent: Purchase & Sale Agreement A legally binding agreement signed before the deed. A deposit, often between 10% and 30%, is typically required.
8. Escritura
– US Equivalent: Closing / Deed signing The final signing that officially transfers ownership of the property. Held in front of a notary.
9. Energy Certificate (Certificado Energético)
– US Equivalent: Energy efficiency rating Mandatory in Portugal for all properties sold or rented. Homes are rated from A+ (most efficient) to G (least efficient).
10. Urban vs. Rustic Land
In Portugal, Urban land = buildable | Rustic land = usually non-developable or agricultural In the U.S., you might hear “residential” or “agricultural,” but Portugal uses these terms with legal and zoning implications.
11. Fractional Ownership
– Not widely used in U.S. real estate. In some Portuguese resorts, multiple buyers legally co-own a property and have usage rights for specific periods. This is not the same as a timeshare.
12. Alojamento Local (AL License)
– US Equivalent: Short-term rental license (e.g., for Airbnb) Required to legally rent a property on a short-term basis. Regulations vary by municipality.
We hope this glossary gives you a clearer picture of the buying process here in Portugal. At QP Savills, we’re proud to help international buyers, especially our growing American audience, navigate the Portuguese property market with confidence. Whether you’re dreaming of a luxury villa or a beachfront apartment, we’re here to guide you every step of the way!
Ready to start your Algarve property journey? Get in touch – we’d love to help!
Education in the Algarve: A Guide for Relocating Families
30th May, 2025
Education in the Algarve:
A Guide for Relocating Families
When relocating, especially with children, choosing the right school can feel overwhelming. This is even more true when you’re moving to a new country with an unfamiliar education system. Thankfully, the Algarve has long been a welcoming home to expats, and as a result, the region offers a wide selection of international and English-speaking schools.
Whether your child is in the middle of crucial exam years or just beginning their academic journey, there are educational options in the Algarve to suit every family. For teenagers, international schools help smooth the transition, offering continuity in curriculum and language. For younger children, embracing the Portuguese National Curriculum can be a wonderful opportunity to integrate into the local culture, and young minds are impressively quick to pick up new languages.
In the Algarve, you’ll find a variety of public, private, and international schools. Below, we break down the two most common education systems available in the region: the Portuguese National Curriculum and Cambridge International Education.
Portuguese National Curriculum
Education in Portugal is free and compulsory for children aged 6 to 18, encompassing 12 years of schooling across four distinct cycles. Public schools typically require students to live or work nearby, though transfers are possible with valid reasons like a change of address. Private Portuguese schools do not have such location-based restrictions.
1. First Cycle (Grades 1–4)
The first stage of compulsory education is usually led by a single teacher who instructs students in core subjects such as Portuguese, Mathematics, Social Studies, and English. Physical Education and Arts may be taught by specialist teachers. In Grades 3 and 4, the curriculum expands to include broader content areas.
2. Second Cycle (Grades 5–6)
Students begin to experience subject-specific teachers and are introduced to new disciplines like History, Geography, and Science, alongside continued core subjects.
3. Third Cycle (Grades 7–9)
This stage deepens academic learning with the addition of Physics, Chemistry, and a second foreign language. National exams in Portuguese and Mathematics are administered at the end of Grade 9.
Students choose an educational track aligned with their interests or career aspirations. Core subjects include Portuguese, Philosophy, Physical Education, and a foreign language. The three main pathways are:
Cursos Científico-Humanísticos: Academically focused, preparing students for university, with options in Sciences, Visual Arts, or Humanities.
Cursos Profissionais: Vocational training leading directly to employment in fields such as IT, Design, and Hospitality.
Cursos Artísticos Especializados: Artistic courses for students interested in creative industries.
Secondary school culminates in four national exams (two in Grade 11 and two in Grade 12), which, along with grade averages, are used for university applications. Portugal’s education system is flexible and offers multiple pathways to success.
Cambridge International Education
The Cambridge International Education system, developed by the University of Cambridge, is a globally respected curriculum followed by over 10,000 schools in 160+ countries. It provides an internationally recognised path from early years to pre-university and is especially popular among expat families.
Unlike the Portuguese system’s 12 grades, Cambridge has 13, and it is designed to offer continuity, cultural sensitivity, and academic rigour.
1. Cambridge Primary (Ages 5–11)
Students build foundational skills in English, Mathematics, and Science, while also exploring Humanities, Physical Education, and Personal & Social Development. The aim is to nurture curiosity, communication, and confidence.
2. Cambridge Lower Secondary (Ages 11–14)
This stage continues the development of core skills while introducing more formal academic study in preparation for IGCSEs. Emphasis is placed on analytical thinking and independent learning.
3. Cambridge Upper Secondary (Ages 14–16)
Students prepare for the International General Certificate of Secondary Education (IGCSE), one of the world’s most recognised qualifications. Core subjects include:
English Language
Mathematics
Science (with options in Physics, Chemistry, and Biology)
Students also choose 3–4 additional subjects aligned with their interests or goals. Assessment methods include written exams, oral presentations, coursework, and practical evaluations.
4. Cambridge Advanced (Ages 16–19)
The final phase involves AS and A Levels, taken over two years. Most students select 3–4 subjects for in-depth study. These qualifications are recognised by top universities globally. Exams take place in June or November, with results released in August and January. Grading for IGCSE ranges from A* to G; A Levels from A* to E.
Whether you opt for the Portuguese National Curriculum to encourage local integration or choose Cambridge International Education for a globally consistent academic journey, the Algarve has excellent options to suit your family’s needs. As more expat families make the Algarve their permanent home, the region’s educational offerings continue to grow, giving you peace of mind as you plan your family’s next chapter.
At QP Savills, many of our team members are parents themselves, with children enrolled in both international and Portuguese schools. If you need advice on choosing the right school for your family, don’t hesitate to reach out! We’re always happy to share our local knowledge and help make your move as smooth as possible.
What’s On This Season with QP Savills: May & June in the Algarve
21st May, 2025
What’s On This Season with QP Savills:
May & June in the Algarve
As the summer season kicks off, our team at QP Savills has put together a hand-picked selection of the best local events happening across the Algarve. After an unseasonably wet spring, we’re thrilled to embrace the sunshine and enjoy everything this culturally rich region has to offer.
From music and food to artisan markets and even a celebration of bees – there’s something for everyone this season. Take a look at what’s coming up, and don’t forget to mark your calendars!
Summer Kick-Off at QP Savills
QP Savills Loulé Office | Saturday, May 24 at 10:00 Join us at our Loulé office for a relaxed morning of drinks, treats, and friendly conversations with our property experts. It’s the perfect way to welcome the summer season and hear the latest on the Algarve property market.
Festa da Espiga
Salir | May 29–31 This traditional festival in Salir celebrates the agricultural heritage of the region. Expect musical performances, handcrafts, food stalls, and a vibrant closing parade that honours the rural life of this charming village.
Vamos à Vila
Monchique | May 30 – June 1 A celebration of local gastronomy and culture in the heart of the Monchique mountains. Enjoy sausages, medronho, honey, traditional sweets, crafts, music, art, and more. A truly immersive experience of Algarvian heritage.
Petiscos do Pescador
Quarteira | May 30 – June 1 A tribute to the sea and Quarteira’s fishing traditions, this event features taverns run by local fishermen and their families, serving delicious seafood snacks. There will be live music and a vibrant atmosphere along Passeio das Dunas.
Spring Bee Festival
Jardim Vista | May 31 A fun and educational day dedicated to bee conservation. Enjoy local honey tastings, eco-friendly stalls, food and drinks, games, and activities for all ages – all in support of our precious pollinators.
Amigos de Música – Final Concerts of the Season
Os Agostos | June 3–5 An intimate chamber music experience featuring acclaimed Georgian pianist Dudana Mazmanishvili. Held in the beautiful setting of Monte dos Agostos, this is the final performance of the season for the Associação de Amigos de Música.
Carvoeiro Noite Black & White
Carvoeiro | June 21 One of the Algarve’s most iconic summer parties! Dress in black and white and dance the night away across the town’s beach and streets, where live music and DJs transform Carvoeiro into a massive open-air celebration.
MED Festival
Loulé | June 26–29 A world-renowned world music festival that celebrates cultural diversity through music, cuisine, visual arts, dance, theatre, and more. With artists from across the globe performing in the heart of Loulé, this is a true highlight of the Algarve summer.
As local experts who live and work in this beautiful region, we love seeing our community come alive during the summer months. We hope this list inspires you to explore more of the Algarve, and perhaps we’ll see you at one of these incredible events!
Stay tuned – we’ll be sharing another blog soon with our top picks for events happening across the Algarve in July and August. There’s so much more to look forward to this summer!
I recently relocated from California to the Algarve, with a brief three-week stopover in Florida. The extended stay was a bit of a mix-up – my partner wanted to spend some time with her family in Miami before our big move, and those few days quickly turned into three weeks. The reason? We didn’t fully understand the pet import rules. Along with our two cats and two bunnies, we were heading to the sunny Algarve, but we missed an important detail: due to rabies vaccination regulations, we had to wait 21 days after inoculation before we could fly.
When researching the process online, it felt like every website offered conflicting information. Even after consulting our vet and reaching out to others for advice, every response seemed different. Navigating the requirements for both cats and bunnies, along with finding an airline willing to accept them, proved to be a challenge. Eventually, we turned to a pet relocation company specializing in Florida-to-EU moves, and that turned out to be a lifesaver.
So I’m here to assure you that moving to Portugal and bringing your beloved pets along doesn’t have to be a hassle! Portugal is a pet-friendly country, welcoming not only dogs and cats but also ferrets, birds, tortoises, rabbits, and other animals. The best part? There’s no quarantine period upon arrival, so you can take your furry companion with you right after you land.
Many airlines will transport your pets in the cargo hold, and if your pet is small enough they can even travel with you in the cabin. While the process may seem daunting at first, it’s not as complicated as it appears. Below, I’ve compiled a guide to help you understand the steps involved in importing pets from the USA, UK, and Ireland – the countries most of our clients come from.
General Requirements for All Countries
No matter where you’re travelling from, there are a few basic requirements for bringing your pets into Portugal:
Rabies Vaccination: Your pet (dog or cat) must have a valid rabies shot. The rabies vaccine is typically valid for 3 years, and you can find the vaccination details in your pet’s vaccination booklet. If the rabies vaccine needs to be renewed before your move, remember that there’s a 21-day waiting period from the date of vaccination before they can travel.
Microchip: Your pet must be microchipped before receiving the rabies vaccine. Ensure the microchip number is recorded in your pet’s vaccination booklet, as it will be checked during the entry process.
Travelling from the USA
For pets traveling from the USA, the process is straightforward:
Microchip & Rabies Shot: As mentioned earlier, your pet must have a valid rabies vaccination.
USDA Pet Health Certificate: You will also need a USDA-approved health certificate. To obtain this, visit the USDA’s APHIS website to locate a local USDA-compliant vet. Take your pet for a checkup within 10 days of your departure, and the vet will apply for the certificate. The USDA will then approve and stamp it, mailing it back to you.
Notify the Portuguese Port of Entry: Once you have the health certificate, send an email to the DGAV at the Portuguese port of entry, such as Lisbon airport, informing them of your travel date and how many pets you’ll be bringing in.
Arrival and Check-in: Upon arrival, head to the baggage claim area, and follow signs to the airport vet check. You’ll present your USDA health certificate, and after the check, your pets can enter Portugal!
Airlines that transport pets from the USA to Portugal: TAP, SATA, American Airlines, Delta, and United.
Travelling from the UK
If you’re travelling from the UK, the process is also easy:
Microchip & Rabies Vaccination: Ensure your pet has a microchip and a valid rabies vaccination.
Health Certificate: In addition to the microchip and rabies vaccine, you’ll need a health certificate from your vet stating your pet is fit to travel. Make sure this certificate is issued within 10 days of your departure.
Airport Check: When you arrive in Portugal, you’ll show your paperwork and have your pet’s microchip scanned. If you’re traveling by ferry or the Eurotunnel, this check will take place at the departure point.
Airlines that transport pets from the UK to Portugal: TAP, British Airways (via IAG Cargo).
Travelling from Ireland (and the EU)
If you’re travelling from Ireland or another EU country, the process is the easiest:
EU Pet Passport: Pets travelling within the EU don’t need a health certificate. Instead, they require an EU pet passport, which is available from your vet. The passport includes details of the microchip and proof of a valid rabies vaccination.
With the EU pet passport, microchip, and rabies vaccination, your pet can travel freely between EU member states without additional paperwork.
Airlines that transport pets from Ireland and the EU to Portugal: TAP, Lufthansa, SAS, KLM, Norwegian, Iberia, Air France, Transavia, Aer Lingus (via IAG Cargo).
Moving can be one of the most stressful events in life, and travelling with your pet adds an extra layer of complexity. Thankfully, you don’t have to handle it all by yourself. Many pet relocation companies specialize in handling the logistics of moving pets internationally. They can take care of everything from paperwork and transportation to arranging for your pet to arrive after you’ve settled into your new home, if that’s your preference.
If you need recommendations for trusted pet relocation services or local vets once you have arrived, feel free to reach out to us! We’re happy to connect you with our tried-and-tested resources, ensuring a smooth and stress-free move to Portugal for you and your furry friend.
With a bit of preparation, bringing your pets to Portugal can be a simple and straightforward process. Ensure your pets are microchipped, vaccinated, and have the necessary certificates, and you’ll be ready to enjoy your new life in Portugal with your furry companions by your side!
Stay tuned for the latest updates in our News & Events section!
Timber Frame Construction: A Growing Trend Across Europe
Timber frame construction is experiencing a significant resurgence across Europe, and here at QP Savills, we are seeing an increasing number of new homes being built using this innovative and sustainable method. This trend is particularly noticeable in our local area, where several new developments are currently under construction using timber framing, and we expect this number to continue to rise.
While timber frame construction has long been a popular choice in regions like North America and Northern Europe, it is still relatively new to Portugal. As a result, prospective buyers often have questions about the process and the benefits of choosing timber frame homes. Our Marketing Director, Amy Kerins, sat down with André Dias, a Professor at Coimbra University and an expert on Timber Frame Construction to provide you with answers.
Historical Context and Modern Resurgence
Timber frame construction is far from a modern innovation; its roots trace back to medieval Europe, where it was the dominant building technique. However, with the advent of industrialisation and the widespread use of materials like steel and concrete, timber construction declined in popularity. In recent years, however, there has been a resurgence of interest in timber frame buildings, driven by an increased focus on sustainability, environmental impact, and energy efficiency.
Portugal: A Leader in Timber Frame Construction
Traditionally, Portuguese homes have been built using masonry and concrete, influenced by the country’s architectural history. However, in recent years, there has been growing interest in timber frame construction in Portugal, largely due to heightened awareness of sustainability and energy efficiency. Timber framing also offers benefits such as faster construction times, better insulation, and enhanced thermal efficiency, which are particularly appealing in Portugal’s warm climate. The Portuguese government and local authorities have begun embracing sustainable building practices, aligning with broader European trends aimed at reducing carbon footprints and addressing climate change. Developers are increasingly exploring timber framing as a solution for both residential and commercial projects, recognising its potential to deliver both economic and environmental advantages.
Environmental Benefits
Timber is a renewable resource with a lower environmental impact than concrete and steel, particularly when sourced responsibly. Sustainably managed forests provide a continuous supply of timber without harming ecosystems. Trees absorb carbon dioxide as they grow, making timber buildings carbon sinks. Manufacturing timber products generates fewer greenhouse gas emissions compared to steel and concrete.
Timber also boasts excellent insulating properties, helping to maintain a comfortable temperature and reduce energy consumption, which in turn lowers carbon emissions.
Aesthetic and Functional Advantages
Timber structures offer a warm, natural aesthetic and integrate well with various architectural styles. Biophilic design, which incorporates elements of nature, enhances well-being and quality of life.
When properly maintained, timber structures can last for decades. Timber’s high strength-to-weight ratio allows for quicker assembly, reducing both construction time and costs. Timber frame homes are also flexible and adaptable, making them easier to repair or modify—promoting long-term sustainability in homeownership.
Conclusion
The rise of timber frame construction in Europe marks a significant shift towards more sustainable building practices. The environmental benefits, combined with the aesthetic and functional advantages, make timber an attractive choice for modern architecture. Leading the way in sustainable living is Arcaya, the Algarve’s first sustainable community. Built using ten key sustainability strategies, Arcaya demonstrates a strong commitment to preserving the natural environment, with timber frame construction playing a central role in this vision. As more countries recognize the potential of timber, we can expect to see its use continue to grow, paving the way for a greener, more sustainable future in construction.
Arcaya Timber Villa Garden
Stay tuned for the latest updates in our News & Events section!
Running a business for three decades teaches you a thing or two. Running it with your sibling? Well, that’s a whole different level of education! We started out with a small but passionate team of four great women, determined to bring a fresh approach to luxury real estate in the Algarve. Fast forward 30 years, and we’ve grown into a team of 40 top professionals, spread across three prime locations, leading the market with integrity, expertise and knowledge.
We like to think of ourselves as ‘Older. Wiser. And Bigger.’ – and not just because we’ve been at it for so long. Those three words sum up exactly where we are today, what we’ve built, and why we’re more confident than ever in what we do.
Getting older in business is a privilege. We’ve seen the market change, adapted to new trends, and navigated challenges along the way. We’ve made mistakes—who hasn’t? But each one has been a lesson, making us sharper, smarter, and stronger. Wisdom, we’ve learned, doesn’t come from playing it safe; it comes from experience, from the wins and the setbacks, and from knowing when to change course.
And we have changed. We might have started off thinking we were the best, but over time, we’ve realised that staying the best means constantly evolving. One of the wisest moves we’ve made has been surrounding ourselves with the next generation of top professionals. Times move on, and so must we. By bringing in fresh talent—smart, driven, and full of new ideas—we’ve not only strengthened our business but ensured that we continue to lead the way in luxury real estate.
Bigger doesn’t just mean more people or more offices. It means more capability, more expertise, and more ways to deliver the exceptional service our clients expect. Growth isn’t just about size; it’s about becoming better, stronger, and more effective at what we do.
Yes, working together as sisters has had its ups and downs—anyone in business with family will know what we mean! But we’ve learned to capitalise on each other’s strengths, balance out the weaknesses, and trust in the bigger picture. Creating a great work environment has always been at the heart of our business and making it a fun and enjoyable place to work has been just as important as achieving success. And through it all, one thing has never changed: delivering top results for our clients has always been our number one priority.
So here we are: Older. Wiser. And Bigger. And better than ever. And yet, is many ways it still feels like we are only really just getting started!
Stay tuned for the latest updates in our News & Events section!
As we begin 2025, it’s a perfect time to reflect on what has been an exceptional year for QP Savills. 2024 was not just our busiest year yet, but also a defining one, filled with exciting challenges that underscore our commitment to delivering exceptional service and outstanding results for our clients. Our enthusiasm for what we do remains strong, and we are eager to share insights from this remarkable year.
The luxury property market in the Central Algarve has continued to show impressive resilience and growth. This growth is not just in property values but also the diversity of buyers. International interest, particularly from the UK, Ireland, and the U.S., continues to rise. Younger families, entrepreneurs, and digital nomads are increasingly seeking turnkey properties focusing on luxury and sustainability.
This report will explore the key trends that shaped 2024, from rising property values to evolving buyer demographics, while offering a forward-looking perspective on what to expect in the year ahead. With the Central Algarve at the heart of Portugal’s luxury real estate market, we’ll reflect on 2024’s achievements, analyze the forces driving the market, and delve into the opportunities and trends set to define 2025.
Recently restyled 7-Bedroom villa overlooking the golf course in Quinta do Lago | Ref: 17005QP
Despite challenging weather conditions in March and into April, the luxury property market in southern Portugal has demonstrated remarkable resilience and further growth in the first quarter of 2025. Our sales volumes have increased by 10% compared to the same period last year, surpassing expectations and underlining the region’s enduring appeal to high-end buyers. As always, our focus is on the Quinta do Lago, Vale do Lobo and wider Central Algarve markets, as well as the growing New Homes market in the region.
Recently restyled 7-Bedroom villa in Quinta do Lago | Ref: 17005QP
Market Dynamics and Buyer Trends
January and February (traditionally quieter months) exceeded expectations – strong viewing numbers and multiple offers and agreed sales. This early momentum resulted in targets being surpassed in Q1. However, an unusually wet March resulted in fewer visitors to Portugal, which in turn affected viewings and sales.
External factors such as continued geopolitical tensions, including the conflict in Ukraine, a challenging UK budget introducing new taxes, and global market volatility tied to political developments in the United States, continue to shape buyer sentiment. Nevertheless, Portugal is increasingly seen as a safe haven within the EU – valued for its security, excellent infrastructure and connectivity, quality of life, sunshine, and first-class healthcare system. These attributes continue to attract buyers from around the world and are now also proving attractive to American buyers – many of whom would never have previously considered investing, let alone moving abroad. This trend is further fueled by the introduction of new direct flights from Newark, New York to Faro.
Residency and Citizenship Through Investment
The landscape for European residency is shifting rapidly. On 3rd April 2025, Spain formally ended its Golden Visa programme and is considering further measures to make foreign investment in Spain more difficult, citing concerns about housing affordability and real estate speculation. Italy has also tightened its criteria for citizenship by descent. These developments serve as a reminder of the importance of acting promptly and staying informed, as immigration policies across Europe continue to evolve.
Portugal’s Golden Visa remains one of the most flexible and strategically appealing residency-by-investment options within the EU. While recent reforms have removed real estate as a qualifying investment, the scheme continues to attract global interest from those seeking a secure, tax-efficient lifestyle in Europe. Eligible investments now include qualified private equity funds, scientific research, cultural heritage projects, and business ventures that contribute to the Portuguese economy.
Modern 4-Bedroom villa with sea views in Vale do Lobo | Ref: 84751QP
Residential Market Insights
In the prime residential sector, there is a notable shortage of high-quality properties priced between €5 million and €7 million in resorts such as Quinta do Lago and Vale do Lobo to meet demand. We are also seeing some first-time buyers from the US and other young families from Britain and Ireland.
Our New Homes division reports strong activity in the sub-€1.5 million segment, while larger, more expensive new projects are proving more challenging unless they are situated in super-prime areas such as Atlantic Pines. British and Irish buyers make up a large segment of the market and we have witnessed an influx of Portuguese buyers from up north investing in the Algarve.
Buyers are increasingly seeking properties that offer strong lifestyle value, prompting heightened interest in areas such as Vilamoura, Lagos, and Tavira. Demand is primarily from second-home owners, with a growing cohort looking to relocate permanently – often prioritising access to international schools.
Sales prices for new developments in the pre-completion phase within the Golden Triangle have largely remained stable. However, we have observed significant price increases in completed stock, across the Algarve. This is primarily due to the limited availability of quality new-build resale properties.
Buyer Profiles and Decision Timelines
The buyer demographic is broadening, with notable increases in interest from Irish, German, Dutch, Brazilian, and even Japanese nationals. Many consider various parts of Portugal before ultimately settling on the Algarve, drawn by its unrivalled climate and lifestyle offering.
There is a distinct shift in buyer intention – from short holiday use to longer stays, full-time relocation, or strategic second-home acquisition with a view to future residency. Some buyers make offers within just a few days of enquiry. Generally, buyers are well-informed and efficient in their decision-making. We believe that buyers are confident that demand for property in the Algarve will only continue to strengthen – and with it, property values.
Over the past 12 to 18 months, we have also observed a marked increase in demand for long-term rental properties, as some buyers relocate even before finding the right property to purchase. This has pushed rental prices to new levels.
Luxurious 4-Bedroom villa with panoramic ocean views in Loulé | 97910QP
Vendor Motivations
Sellers are largely motivated by favourable market conditions and are seeking to realise the capital growth of their properties. Other reasons for selling include downsizing, returning home following the end of their Non-Habitual Resident (NHR) status, or moving closer to family. Interestingly, a large number of vendors remain in the region, often reinvesting locally in homes that better suit their evolving lifestyles.
In Conclusion
The luxury property market in southern Portugal has shown impressive strength in the first quarter of 2025, with a 10% increase in sales volume despite inclement weather. The region continues to draw a diverse and sophisticated international audience, attracted by its safety, lifestyle benefits, and long-term investment potential. As Portugal’s Golden Visa programme adapts to changing global trends, it remains a compelling option for those seeking flexibility and security within the EU. Southern Portugal continues to affirm its position as one of Europe’s most desirable destinations for luxury real estate.
Everyone enjoys the Fun Facts!
National Price Increase: Property prices across Portugal rose by 4.2% in January 2025 compared to the same period in 2024.
Algarve’s Exceptional Growth: In 2024, Algarve real estate prices increased by an average of 15.3%, outperforming the wider market.
Quinta do Lago & Vale do Lobo: Due to unprecedented demand and limited land available for development in these prime Algarve resorts, property values are forecast to continue to rise in 2025.
International Buyer Interest: British buyers accounted for the largest share at 43%, followed by Irish buyers at 17% and Portuguese at 13%. The remaining buyers comprised a diverse mix of both European and non-European nationalities.
Economic Contribution: Between 2021 and 2023, Portugal’s premium residential market generated over €7.2 billion in national production and sustained more than 94,000 full-time jobs.
Lisbon’s Global Standing: Lisbon was recently ranked as the 10th most attractive European city for real estate investment in 2025 – reflecting its growing global appeal.
Eco-Friendly Developments: The Algarve experienced a 12% increase in eco-friendly property developments in 2024, driven by a growing emphasis on sustainability and government incentives.
March and April Unusually Wet: March saw a very welcome 176mm of rainfall—up 221% on historical averages—while April saw 43mm, up 54%. The country is now officially out of drought in all regions, making Portugal unusually green (but perhaps less sunny for outdoor activities and property viewings).
World Travel Awards 2025: Portugal secured 19 awards in the latest edition, surpassing its previous tally by seven. These accolades highlight the nation’s excellence in various tourism sectors.
Sardine Fishing Insights – 2025 Quota Increase: Portugal’s sardine fishing quota for 2025 has been set at 34,406 tonnes, marking a 16% increase from the previous year.
Stay tuned for the latest updates in our News & Events section!
We hope you enjoy the article. For more information on the market, property values or what is currently on the market, don’t hesitate to get in touch with our specialists!
Luxury Property Market in Central Algarve
As we enter the final quarter of 2024, the luxury property market in Central Algarve remains robust, with sustained demand driving growth in key areas such as Loulé, Quinta do Lago, and Vale do Lobo. Despite global political uncertainties, the region’s real estate sector is thriving, buoyed by international interest, limited supply, and strategic developments.
Market Performance and Trends
The luxury property market in the Algarve has seen an 18% increase in sales year-to-date (YTD), with average property prices rising by 10%. Prime locations such as Quinta do Lago and Vale do Lobo are leading the charge, with prices well exceeding €10,000 per square meter. Properties in these areas are selling faster than ever, with an average market time of just 45 days, reflecting heightened demand.
British and Irish buyers still dominate the luxury market, accounting for 65% of purchases. However, the region is becoming increasingly international, with buyers from 14 different countries making up the remaining 35%. Notably, there has been a significant rise in interest from the USA, with American buyers becoming a prominent new group of investors.
In response to this demand, several high-end developments are currently underway, supported by international investment funds. While interest in these projects remains strong, buyers are price-sensitive and discerning, expecting premium locations and value for their investment.
Property in Quinta do Lago Ref:16045JL
QP Savills Performance
At QP Savills, we have seen a significant uptick in activity. Our leads are up 29%, and year-to-date sales volume has surged by 56%, reaching €196 million. The number of transactions has also risen by 72%, reflecting both strong demand and our ability to deliver exceptional service to our clients.
Price Trends
Property prices in Quinta do Lago and Vale do Lobo continue to appreciate, with average villa prices now hovering around €11,000 per square metre and even reaching over €30,000 per square metre for prime properties. This upward trajectory has surpassed even vendor expectations. While the number of properties on the market has increased slightly, the surge in buyer interest means that demand continues to outpace supply, leaving little room for price negotiation.
In surrounding areas of the Central Algarve, prices have risen to around €5,000 to €6,000 per square metre depending on location, age and style. As values within the resorts rise, more buyers are turning to these quieter areas, where properties often come with more land and offer easy access to the bustling coastal regions. The increased demand in these locations is also driving prices upwards.
Property in Vale do Lobo Ref: 85244QP
Shifts in Buyer Motivations
We are seeing a growing number of young families relocating to the Algarve. For these buyers, proximity to international schools and urban centres is key, allowing for both a high quality of life and greater independence for their children. Long gone are the days when the Algarve was mainly attracting retiring golfers – although world-class golf remains a huge draw.
Retirement planning on the other hand is a strong motivator for many buyers today. A significant portion of our clients are purchasing homes now with plans to retire in the Algarve at a later date. In the meantime, they are choosing to rent out their properties, ensuring they don’t miss out on current market opportunities.
In addition, the Algarve is becoming increasingly popular among digital nomads, who are adding a new dimension to the property market. These remote workers are drawn to the region for its reliable high-speed internet, excellent quality of life, and favourable climate. With Portugal ranking highly in Savills recent study on prime destinations for digital nomads, both Lisbon and the Algarve are attracting this growing demographic. Many are looking for properties with easy access to international airports and local amenities, while also offering a tranquil environment for remote work. This trend is contributing to rising demand, especially for homes in quieter areas that offer both connectivity and lifestyle appeal.
A notable rise in interest from American buyers is already underway, Americans, buoyed by a strong dollar, are starting to invest in Algarve property, which is likely to push prices even higher. Canadian buyers are also expected to increase their presence in the market, driven by recent capital gains tax hikes in their home country.
Property in Vale Judeu Ref: 85015QP
New Developments
The influx of international funds has intensified, with developers focusing on sustainable, high-quality construction to meet the expectations of discerning buyers. Several fantastic new developments are either under construction or in the planning stages, offering a wealth of options for investors. We are seeing a surge in enquiries from developers seeking consultancy, eager to tap into the Algarve’s flourishing property market. As a result, we are expanding our New Homes team to better serve both buyers and developers, ensuring we continue to offer the highest level of service.
Earlier in the summer we launched the new Atlantic Pines Residences – an exclusive instruction we received from Draycott. Beautifully located within the Vale do Lobo area, this development was met with extraordinary interest and, within the first 10 days of sales, we secured 21 sales out of a total of 28 villas.
Atlantic Pines Residences in Vale do Lobo offered exclusively by QP Savills
Future Outlook
We are optimistic about the future of the Algarve’s luxury property market.
The changing tax environment in the UK is already encouraging many wealthy individuals to consider relocating, and Portugal’s favourable tax regimes only add to the appeal of its enviable lifestyle.
American investors already make up a significant portion of new buyers, and with United Airlines announcing four direct flights per week between Newark and Faro from May 2025, we expect this trend to grow.
So, demand from existing markets increases year on year and, with these new markets coming into the mix, we see momentum only going in one direction. This is fueling our drive to grow our team, open new office locations (not only in the Algarve) and expand into rentals and property management.
The future looks bright here in Portugal!
Stay tuned for the latest updates in our News & Events section!
The Algarve, Portugal’s sun-drenched southern region, has long been a haven for those seeking a perfect blend of natural beauty, tranquil living, and a sophisticated lifestyle. Over recent decades, it has evolved into one of Europe’s most desirable luxury property markets, attracting discerning buyers from across the globe. Central to its appeal is the remarkable progression of architecture, with homes that seamlessly merge traditional charm and cutting-edge design, catering to the desires of an elite clientele.
A Journey from Tradition to Innovation
The architectural evolution in the Algarve is a fascinating reflection of its cultural heritage. Historically, the region’s homes were characterised by whitewashed walls, terracotta roofs, and intricate tilework, reflecting the Moorish influences that have shaped much of southern Portugal’s aesthetic. These traditional features, combined with the rugged coastal landscape and Mediterranean climate, have imbued the Algarve with a distinctive charm.
However, as the region’s popularity has grown among international buyers, so too has the demand for more contemporary and innovative architectural styles. Today’s luxury properties in the Algarve often blend traditional elements with modern design, creating homes that are not only visually stunning but also highly functional.
Quinta do Lago and Vale do Lobo, two prestigious communities in the Algarve, exemplify this fusion of tradition and modernity. Renowned for their world-class golf courses, pristine beaches, and luxurious lifestyle, these resorts have become hubs of architectural innovation in the region.
A prime example is Blackbird, an incomparable property in Quinta do Lago that perfectly captures the essence of contemporary luxury. This home is a masterpiece of modern design, showcasing the trend towards minimalist architecture, where clean lines and expansive glass walls create a seamless connection between indoor and outdoor living spaces. The architecture prioritises natural light, with large windows offering panoramic views of the surrounding landscape, while the interiors are meticulously crafted to deliver both comfort and style.
We recently sat down with Architect David O’Shea, of the internationally acclaimed ODOS Architects, as he shared insights into what makes Blackbird a unique home and investment. O’Shea detailed the passion behind the project, emphasising how it stands as a sculptural haven at the forefront of contemporary design.
Blackbird – Incomparable House in Quinta do Lago | Ref: 83502QP
Another remarkable property is a Zen-inspired villa designed by renowned Portuguese architect Vasco Vieira, offering serene lake views in Quinta do Lago. This home showcases meticulous attention to detail in both materials and craftsmanship. The impressive entrance, adorned with water features and oversized charcoal doors, alongside double corten steel staircases, split marble walls in the bathrooms, and bamboo and leather flooring, all contribute to its meditative, minimalist design. The interior spaces are seamlessly integrated with the outdoors, exemplified by the living room’s hydraulic drop windows, which open directly onto a Zen terrace and a 23-metre black slate saltwater infinity pool.
This villa is a sanctuary that embodies the Algarve’s architectural trend towards creating spaces that promote a deep connection to nature and evoke a sense of tranquillity while maintaining the highest standards of luxury and innovation. The seamless blend of indoor and outdoor living, along with exceptional amenities such as a state-of-the-art designer kitchen, a cosy winter lounge mezzanine, a fully equipped gym, and a designer wine cellar, solidifies its place as a true masterpiece in the Algarve’s luxury property market.
Unique Zen Property in Quinta do Lago | Ref: 16045JL
A New Era of Innovation: Contemporary Villas with Sea Views
As the Algarve continues to attract high-net-worth individuals, there has been a noticeable shift towards even more innovative and contemporary architectural designs. These homes often prioritise sustainability, smart home technology, and seamless integration with the natural environment.
One such property, a contemporary villa, exemplifies this trend with its bold geometric forms, open-plan living spaces, and floor-to-ceiling windows that frame breathtaking views of the Atlantic Ocean. This design reflects the growing demand for homes that offer not just luxury, but also a connection to nature and a sense of tranquillity. The use of sustainable materials and energy-efficient technologies further highlights the commitment to creating environmentally responsible yet beautiful homes.
Stunning and Innovative Contemporary Villa with Sea Views in Quinta do Lago | Ref: 83145QP
A Vasco Vieira architectural project, this house belongs to the awarded Portuguese architect Perfect Collection Houses. This architectural marvel in Quinta do Lago stands out as a testament to how modern architecture can harmonise with the Algarve’s natural beauty, offering a seamless transition between indoor and outdoor spaces. Thoughtfully designed to maximise its spectacular location, the villa offers ultimate privacy and stunning sea views from the rooftop and main living area, positioned uniquely on the first floor. Every aspect of the villa exudes luxury, from the use of state-of-the-art materials and appliances to its cutting-edge technology.
Exquisite Villa with Breathtaking Sea Views in Quinta do Lago | Ref: 83272QP
The Future of Algarve Architecture
As the luxury property market in the Algarve continues to evolve, so too does its architecture. Developers and architects in the region are increasingly focused on creating homes that not only meet the highest standards of luxury but also anticipate the needs of future generations. This means an ongoing emphasis on sustainability, smart technology, and the seamless integration of indoor and outdoor spaces.
The architectural progression in the Algarve is a testament to the region’s ability to adapt and innovate while staying true to its rich cultural heritage. For those seeking a home that offers the perfect blend of tradition, modernity, and luxury, the Algarve remains an unrivalled destination.
Whether it’s a contemporary villa with stunning sea views or a meticulously designed home in Quinta do Lago, the Algarve’s luxury property market continues to set new standards in architectural excellence.
We hope you enjoy the article. For more information on the market, property values or what is currently on the market, don’t hesitate to get in touch with our specialists!
Stay tuned for the latest updates in our News & Events section!
The first half of 2024 has been marked by a remarkable surge in tourism, continuing the record-breaking momentum of 2023. During these six months, Portugal welcomed over 16 million visitors, resulting in 42 million overnight stays and generating approximately €12.5 billion in tourism revenue. These impressive figures highlight Portugal’s increasing appeal among international travellers.
Portugal’s property market has demonstrated considerable resilience. While EU house prices rose by a modest 0.2%, Portugal’s market saw a 7% increase compared to the same period in 2023, positioning the country among the top five in the EU for property price growth. This upward trend, consistent since 2016, reflects sustained demand and robust market fundamentals.
Despite ongoing geopolitical challenges, demand for luxury property continues to increase, and our results for the first half of this year demonstrate this well.
Our results in the year’s first half put us on course for another bumper year in sales. Leads are up 46% year-to-date, with 761 direct inquiries, and our teams have achieved €76 million in sales so far this year. High property values have enticed more properties onto the market, listed by vendors who will sell only if the offer is compelling. This gives buyers more choice, albeit at a premium.
The Portuguese property market shows no signs of slowing down. High-end properties in the Algarve continue to attract wealthy buyers globally. The enduring allure of Portugal’s lifestyle, climate, and strategic investment opportunities assures us of a prosperous future in the property market. We anticipate another successful year for our clients and our team at QP Savills.
The American Migration and Their Discovery of Portugal
We sat down to talk to US couple Steve and Jennifer who recently bought a property in the Algarve. They give us insight into their life here and how it compares to life in the States. They tell us how they found the process of buying a property in Portugal. It is an interesting and helpful watch for any American citizen contemplating purchasing a property in the Algarve or considering relocating. Watch the interview here.
In recent years, a notable trend has emerged: an increasing number of Americans are choosing to make the move and invest in property in Portugal. Drawn by the country’s rich history, beautiful landscapes, and favourable living conditions, these new expats are finding a welcoming haven across the Atlantic. This article explores the reasons behind this movement, the current flight connectivity facilitating this shift, and predictions for the future of Americans in Portugal.
Why Portugal?
Portugal has long been an under-the-radar gem in Europe, but its charm is becoming widely recognized, especially among Americans. Several key factors contribute to Portugal’s growing appeal:
The Quality of Life: Portugal offers a high quality of life at a relatively low cost compared to other Western European countries. The healthcare system is excellent, and public services are usually efficient. The pace of life is relaxed, and there’s a strong sense of community, which contrasts with the often hectic lifestyle in the U.S.
Climate and Scenery: With over 300 days of sunshine per year, Portugal’s climate is one of its biggest draws. The country boasts stunning beaches, rolling vineyards, and picturesque towns. Whether it’s the vibrant city life of Lisbon, the historic charm of Porto, or the serene beauty of the Algarve, there’s something for everyone.
Safety: Portugal consistently ranks as one of the safest countries in the world. This sense of security is a significant factor for families and retirees considering a move.
Friendly Locals: The Portuguese people are known for their hospitality and warmth. Language barriers are relatively low, as English is widely spoken, particularly in urban areas and popular tourist destinations.
Flight Connectivity: The increase in direct flight routes between the U.S. and Portugal has made it easier than ever for Americans to visit and eventually move to the country. Airlines such as TAP Air Portugal, United Airlines, and Delta offer direct flights from major U.S. cities like New York, Boston, and Miami to Lisbon and Porto. These flights typically take around 7-8 hours, making Portugal an accessible destination for both short visits and permanent relocation.
The ease of travel has played a crucial role in facilitating the flow of American tourists and prospective residents, contributing to the surge in property investments.
The Surge in Property Investments
Over the past few years, there has been a significant increase in the number of Americans purchasing property in Portugal. According to data from the Portuguese Real Estate Association, the number of American buyers has tripled since 2019. In 2022 alone, Americans accounted for approximately 10% of all foreign property purchases in Portugal, a substantial increase from previous years.
This surge is not just confined to traditional tourist hotspots like Lisbon and the Algarve. More Americans are exploring and investing in lesser-known regions such as the Alentejo and the Douro Valley, attracted by the potential for growth and the opportunity to experience authentic Portuguese culture.
Why They Like Portugal
Several factors explain why Americans are falling in love with Portugal:
Cultural Richness: Portugal’s history is deeply woven into its architecture, cuisine, and traditions. Americans are drawn to the country’s rich cultural heritage, which offers a stark contrast to the newer, more modern culture of the U.S.
Gastronomy and Wine: Portuguese cuisine, with its emphasis on fresh, locally sourced ingredients, is a highlight for many Americans. The country’s wine regions, particularly the Douro Valley, are world-renowned, offering exquisite wines and beautiful landscapes.
Outdoor Activities: Portugal’s diverse geography makes it a haven for outdoor enthusiasts. From surfing along the Atlantic coast to hiking in the Serra da Estrela mountains, there are endless opportunities for adventure and exploration.
Community and Lifestyle: The slower pace of life and the emphasis on family and community resonate deeply with many Americans seeking a change from the fast-paced, career-driven lifestyle in the U.S.
Our Predictions for the Future
The trend of Americans moving to Portugal shows no signs of slowing down. As remote work becomes more prevalent and people seek better work-life balance, Portugal’s appeal is likely to grow. The country’s continued investment in infrastructure and technology will also play a role in attracting more American expatriates.
Moreover, the Portuguese government is actively encouraging foreign investment through various residency and citizenship programs. The Golden Visa program, which offers residency in exchange for property investment, has been particularly popular among American investors. Although there have been recent changes to this program, its success so far indicates that similar initiatives will likely continue to attract foreign buyers.
The influx of Americans is expected to have several positive effects on the Portuguese economy. Increased demand for property will stimulate the real estate market even further, leading to more development projects and job creation. Additionally, the spending power of American expatriates will benefit local businesses, from restaurants and shops to service providers.
However, it will be essential to manage this growth sustainably to ensure that the benefits are widely shared and that the unique cultural and social fabric of Portugal is preserved. Balancing development with heritage conservation and community interests will be crucial.
Conclusion
The discovery of Portugal by Americans and their subsequent decision to invest in property and relocate to this European gem is a fascinating trend with profound implications. Driven by the country’s high quality of life, favourable climate, safety, and cultural richness, more Americans are choosing to make Portugal their home. With improving flight connectivity and supportive government policies, this trend is poised to continue, bringing with it economic benefits and cultural exchange.
As we look to the future, the American presence in Portugal is likely to grow, shaping the country’s demographic and economic landscape in new and exciting ways. Whether you’re considering a move yourself or simply curious about this emerging trend, Portugal’s allure is undeniable, promising a bright future for those who choose to call it home.
Contact us for more detailed information on the Portuguese property market. As leaders in the luxury sector, we have one of the most impressive portfolios in the country and a team of 35 very special agents to advise you well! On average we sell Euro 200m worth of property annually and attract some of the very best listings for our buyers.
Current Visa and Tax Benefits for Americans Moving to Portugal
Visa Options:
Portugal’s visa system is designed to facilitate the entry of foreign nationals into the country for various purposes, such as tourism, business, study, or residence. As a member of the European Union, Portugal follows EU regulations, but it also has its own specific visa categories and requirements. Whether you are planning a short-term visit or considering a longer stay, understanding the Portuguese visa system is crucial and we would suggest you take the relevant tax and legal advice from professionals in these matters. Here are the basics:
Golden Visa Program, applicants must select from five investment options. Capital Investments in alternative funds, starting at €350,000, are gaining traction. Initially valid for two years, the visa can be renewed twice for two-year periods each, with a minimum annual stay of seven days. Changes were made to the scheme in October 2023 whereby real estate investments and capital transfer investments no longer qualified as suitable investment types. There remains several investment schemes to choose from including job creation, investment funds, and making investments into the arts, reconstruction of national cultural heritage, or scientific research.
The D2 visa, Also known as the entrepreneur VISA is suitable for those aiming to become residents by investing in Portugal (in an existing company, a specific business, etc.), establishing a company, or working as a self-employed individual. Self-employed workers must earn at least the equivalent of the monthly minimum salary to maintain their residence. Unlike the Golden Visa, this visa requires a minimum stay of four months per year in Portugal, with allowances for up to six consecutive months or eight months in total per year away from the country
The D7 visa, Also known as the Self-Sufficient VISA offers the easiest, most cost-effective route to Portuguese residency. Applicants can qualify by demonstrating revenue from various sources such as property, financial assets, or intellectual property. Income generated abroad, including bank deposits, rents, dividends and pensions is acceptable. Applicants must prove sufficient means equivalent to the Portuguese minimum monthly salary, currently €850 per month. Like the D2 visa, the D7 visa also mandates a minimum stay of six months per year and is initially valid for two years, renewable for three-year periods.
The D8 Visa, “Digital Nomad” VISA serves as a temporary residence card for individuals who work remotely for an individual or corporation with its main office located outside of Portugal. Tailored to meet the specific needs of digital nomads, this visa provides the flexibility to work remotely while enjoying life in Portugal.
Requirements for the D8 Visa: To qualify for the D8 visa, applicants must meet certain requirements. These include:
Statement from Foreign Clients: Affirming the services they provide.
Labour Contracts with a Foreign Employer: The applicant should possess legally binding labour contracts with a foreign employer, clearly stating the terms of their professional engagement.
Proof of Monthly Income: Applicants must demonstrate a monthly income equal to or greater than four times the Portuguese minimum salary, currently set at €3,040 per month.
Proof of Tax Residency: To showcase the applicant’s compliance with tax regulations in their home country. Options and Duration: Under the D8 Visa scheme, individuals have two options: Temporary Residence and Residence/D8 Visa. Temporary Residence (Up to One Year): This option grants individuals temporary residence in Portugal for a duration of up to one year. It offers the chance to experience life in Portugal while working remotely. Residence/D8 Visa (Similar to D7 Visa): Similar to the renowned D7 Visa, the Residence/D8 Visa enables individuals to obtain long-term residence in Portugal. Under this option, individuals can pursue their remote careers in Portugal.
Tax Benefits
NHR (Non-Habitual Residency): The previous NHR scheme has ended, but a new version is currently being negotiated. The new version is expected to offer similar benefits, including potential tax exemptions for foreign income like pensions, dividends, and interest, and reduced rates for high-value professionals working in specific sectors. Keep an eye on upcoming changes.
Capital Gains: Portugal does not impose wealth tax or inheritance tax on assets located outside the country. However, capital gains on the sale of Portuguese property are taxed, though exemptions and reductions may apply, depending on circumstances such as reinvestment.
Tax Treaties: Portugal has a double taxation agreement (DTA) with the United States, which helps prevent double taxation on income. This means that taxes paid in one country can often be credited against taxes owed in the other, reducing your overall tax burden. For instance, U.S. citizens may avoid paying tax on the same income in both countries.
Property Taxes:
IMI (Municipal Property Tax): An annual property tax based on the taxable value of the property, ranging from 0.3% to 0.45%. The exact rate is determined by the municipality where the property is located.
IMT (Property Transfer Tax): A one-time tax due when purchasing property. Rates vary based on the property’s value and its intended use (e.g., primary residence or secondary residence). The rates typically range from 1% to 8% depending on the property’s value and purpose.
Stamp Duty: A 0.8% tax on the purchase price of real estate. This is a standard cost associated with property purchases.
Social Security Contributions: If you are employed or self-employed in Portugal, social security contributions are mandatory. However, U.S. citizens may benefit from the U.S.-Portugal Totalization Agreement, which prevents double social security taxation. This agreement ensures that individuals working in both countries don’t pay into both systems, and also protects social security benefits, such as pensions, for workers who have contributed to both systems.
Summary
Portugal offers a range of visa and tax benefits that make it an attractive destination for Americans. The Golden Visa and D7 Visa provide clear pathways for residency, while the NHR regime offers substantial tax incentives, especially for retirees and high-value professionals. Additionally, tax treaties and social security agreements further enhance the financial appeal of moving to Portugal. As more Americans discover these benefits, the trend of investing in property and relocating to Portugal is likely to continue growing.
Stay tuned for the latest updates in our News & Events section!
Portugal’s global reputation and popularity have continued to grow over the last decade, positioning the country among the top global prime residential markets. This year, Portuguese residential market growth is set to outperform the expected average prime residential price growth of 0.6%. Our latest report explores the supply and demand dynamics across Portugal providing insight into four key regions of the residential market.
We hope you enjoy the Report. For more information on the market, property values or what is currently on the market, please contact our specialists!
Stay tuned for the latest updates in our News & Events section!
Launching an Exciting New Development to the Algarve…Arcaya
7th June, 2024
Launching an exciting new development to the Algarve…Arcaya
It’s been a long time coming, over two years to be more precise, that Bondstone has been developing their new and very first venture in the Algarve – Arcaya. Arcaya is a project that is redefining prime sustainable living with an unparalleled commitment to preserving the natural environment. This considered and thought-out approach extended to the project’s official launch on the 2nd of May at SIL in Lisbon. At QP Savills we are delighted to have been chosen as real estate partners for one of the most exciting and exclusive new developments to come to the Algarve. Some sales have already been agreed so call us for more information and first choice of the best locations.
On Tuesday, 28th May we enjoyed the company of nearly 80 clients, partners, and suppliers, all valuable connections we’ve made over the years, at a very Special Launch Event for Arcaya at the Conrad Hotel in Quinta do Lago. We were immensely pleased with the turnout, the interest and the feedback we received both at and since, the event. And also with the support shown by those who wished they could attend but could not.
Representing QP Savills and our MC for the event was Alison Hojbjerg, Co-Owner & Director, joined by four key speakers. Our very own, Amy Kerins, Marketing Director, as well as Tom Bryant from Savills UK, Daniel Henderson from Blevins Franks Wealth Management and João Gorjão from Bondstone.
Alison Hojbjerg, QP Savills Co-Owner & Director, and other speakers mingling
Alison started things off with a warm welcome and a quick market update, speaking about the continued growth we have experienced over the last number of years – from both a team and sales point of view. She thanked all our clients and partners for their unwavering support over the years.
Next up was Tom Bryant who is the Global Head of Residential Developments for Savills. Tom gave an overview of the Algarve and Portugal real estate market in a global context. The key out-take is that while prices have climbed exponentially in recent years, compared to other, similar resorts, the Algarve represents great value for investors.
Tom Bryant, Savills Global Residential Development Sales Director
Dan Henderson then went on to give an overview of tax planning opportunities of life in Portugal giving information on Portugal’s flexible tax framework, the relevance of residency and an update on the NHR.
Daniel Henderson, Blevins Franks Wealth Management Adviser
Amy Kerins, our Marketing Director, introduced the Arcaya project, followed by João Gorjão, an Executive Director at Bondstone who has spearheaded the Arcaya project. João told us about the 10 sustainability strategies that have been employed by Bondstone. Sustainability runs through the DNA of Arcaya and seeing the level of consideration, planning and investment that has ensured Arcaya truly is sustainable was both impressive and educational. João has a background in engineering and you could see his passion for the project with every word!
The Q&A session at the end of the presentation demonstrated how impressed, engaged and curious the audience was about the Arcaya project. We really enjoyed the opportunity to meet with our clients and spend time answering their questions and having great discussions on the project. If there is anything you would like to know about this exciting new development please contact our Special Agents on 00 351 289 396 073, [email protected], or go to our team contacts on the website and grab one for you.
Contact the QP Savills Special Agents!
We hope you enjoy our updates and stay tuned for the latest in our News & Events section!
So far in 2024, the property market in Vale do Lobo has got off to a flying start!
At QP Savills year-to-date we’ve already hit our target number of sales for the whole year.
What could have been a slow start to the year, taking into account the global political and security concerns and the changes in government policy, has taken us pleasantly by surprise and the only thing holding us back from selling more is the lack of available property for sale. I think it goes to show that Vale do Lobo, along with Quinta do Lago and all of the Golden Triangle, has an enduring appeal and a robust market built on strong demand and a lack of supply.
The majority of our buyers are still primarily from Britain and Ireland who are seeking holiday homes, but we are seeing an increase in other nationalities such as Americans and an increase in demand from buyers looking to live all year round.
Vale do Lobo has it all. It’s on the beach, only 20 minutes from Faro airport, and has lots of restaurants and facilities including two championship golf courses, 24-hour security and medical assistance, and a community which is one of the reasons why Vale do Lobo has such a loyal following.
Vale do Lobo also has big expansion plans including building a 5-star hotel, further investment into their current facilities, and building 460 new homes.
We, QP Savills, have been operating in the area for around 25 years so we’ve built up a huge amount of experience and expertise. We have three offices locally – one in Quinta do Lago, one in Loulé, and one in Vale Do Lobo just near the main roundabout opposite Pingo Doce. We have the largest and most experienced sales team locally and have one of, if not the largest, marketing budgets in the Algarve for a property company.
On a personal note, I’ve been in the Real Estate industry for over 18 years – 16 years of which in the prime and super prime Central London markets. Working in Richmond, Knightsbridge & Belgravia, and Notting Hill where I ran a successful sales team for 8 years. As the Vale do Lobo Sales Manager I’ve been tasked to solidify and grow our market share in Vale do Lobo, but I’m still very much part of the Quinta do Lago and Vale do Lobo sales team, as I love the day-to-day selling of property and working closely with clients. So please reach out or pop into one of our offices if you have any property requirements.
What I’m looking to achieve is to meet as many Vale do Lobo clients/owners as possible. Whether it’s to meet for a coffee and have a chat about the market, an up-to-date valuation (even if it’s just out of curiosity), or if one is thinking about coming to market.
We hope you enjoy our updates and that you stay tuned for more of them in our News & Events section.
Amidst a backdrop of global political and security concerns, the Algarve property market experienced a brief deceleration towards the end of 2023. Contrary to initial concerns, the market swiftly regained momentum in January dispelling any lingering apprehension and underscoring the enduring appeal of the Algarve. A market where demand continues to outstrip supply in the premier real estate segment.
Concerns about how reliant the Portuguese property market was on the Golden Visa and Non-Habitual Residency (NHR) schemes proved unfounded. Only a very small proportion of foreign buyers of luxury property here in the Algarve actually bought for those reasons. Our own market research conducted alongside a number of local lawyers estimated that only 2% of our buyers were primarily driven by one of these schemes. There are numerous alternative visa options and investment programs which offer similar solutions, some of which may even be more appropriate. Even though a good number of our clients did apply for NHR status, it was often looked upon as an additional benefit once our clients were already invested but rarely was the main motivation to purchase property in the first place. NHR status was available to new Portuguese residents and renting a home was a possible alternative.
The changes in the laws surrounding rental licenses, the AL (Alojamento Local) are causing some concern to investors. For property owners wishing to short-term let their properties, obtaining licenses has become more complicated. Therefore, we would recommend that vendors and buyers deal with a well-informed agent and get good advice from their lawyer.
We have already noticed more urgency in the market. Transaction times (from an agreed sale to completion) have shortened. The average time to complete on a purchase has typically been 4 to 8 weeks – with some completing within a matter of a few days. The buying process in Portugal is very simple and unless either buyer or seller prefers a longer completion period, sales can easily be finalised within a matter of weeks.
So, in comparison to the same period last year, our YTD figures paint a compelling picture of resurgence and growth. Enquiries increased by an impressive 6%, the number of sales grew by 25% and the team have generated €35.2 million worth of property sales for our clients within the first quarter of this year. Year to date this figure has now reached €45.4m. All confirming continued strong demand and confidence in the market.
Furthermore, we are seeing a slight increase in the number of properties currently on the market – offering buyers a little more choice.
Our average sale price is down slightly, but we suggest this has more to do with the type of properties currently being sold as opposed to any reductions in property values. Property owners remain steadfast and on the whole, are wealthy so will only sell should the right offer come in. Interestingly we are seeing higher values being achieved in our country market – covered by our Loulé office. Due to continued price growth in the coastal areas and resorts, we are witnessing strengthened demand for the beautiful inland and surrounding areas. We don´t anticipate price softening at the top of the market as our clients seem more than happy to keep their money in the Portuguese property market – it has proven robust over so many years and weathered all the storms over the last 25 years.
Furthermore, we anticipate a significant increase in demand for property across the coast. The Americans have most certainly discovered the allure of Portugal and with their strong dollar and sheer numbers are already investing in the country. We predict this to be a growth area in the coming years. We actually recommend that any interested buyer invest now. With United Airlines introducing direct flights to Faro, we anticipate considerable price increases over the next 12 to 18 months. In November 2023 more Americans bought property in Portugal than the Brits! This is quite unprecedented.
Mortgages are becoming more accessible and cheaper and we do recognise that this is fueling the general property market in Portugal. From our perspective, 97% of our buyers continue to be cash buyers.
Over the past 12 months, inflation rates have dropped considerably from 8% to 2.6% also indicating further confidence in the financial and real estate markets.
The forecast for 2024 is bright. Our brand undeniably plays a pivotal role in our success. We would argue that we have the biggest marketing budget among our competitors, supported by a team of professionals that is unrivalled not only in numbers but also in delivering proven results and providing both buyers and sellers with unparalleled local expertise complemented by a phenomenal global reach through our steadfast association with Savills.
Our team of dedicated Special Agents is here to support you with your property needs. If there is anything we can help you with…please get in touch!
Introducing the 25th edition of The QP Savills Property Book 2024! This milestone edition celebrates a quarter-century of showcasing the finest properties in the Algarve, all wrapped up in a vibrant orange cover inspired by the luscious oranges that thrive in our region. There’s nothing quite like indulging in the sweetness of freshly picked fruit straight from the tree, and we’re thrilled to capture that essence in our latest publication.
More than just a property catalogue, the Property Book serves as your comprehensive guide to navigating the real estate landscape in Portugal. Whether you’re buying or selling, our handbook is designed to demystify the process and arm you with all the essential information you need. From legalities to documentation requirements to estimated running costs, we’ve got you covered every step of the way.
In this edition, we’ve also included updates on visa schemes like the Golden Visa and Non-Habitual Residency, ensuring you’re informed about the latest regulations with insights from our legal consultants. While we strive to provide comprehensive information, we always recommend consulting with industry experts for personalised advice.
But perhaps the highlight of the Property Book lies in its pages brimming with exquisite properties. From luxurious golf-front villas in Quinta do Lago and coastal properties in Vale do Lobo… to beautiful country estates in and around Loulé and sleek apartments overlooking the Vilamoura marina, there’s something to captivate every discerning buyer.
Beyond individual properties, we’re excited to showcase a diverse selection of resorts and developments across the Algarve. Our dedicated Resorts and Developments team stands ready to leverage their expertise to find the perfect property that meets your unique preferences and requirements.
While we’ve endeavoured to feature a wide array of properties in these pages, our portfolio is even more extensive. We wish we could include every remarkable listing, but rest assured, our team is committed to helping you discover your dream property, no matter your criteria.
As residents of the Algarve ourselves, we never take for granted the privilege of living in this breathtaking region and facilitating the sale of some of the world’s most stunning properties. Every day is a reminder of our good fortune, and we’re grateful for the opportunity to assist you on your real estate journey.
Our team of dedicated Special Agents is here to support you with your property needs. If there is anything we can help you with…please get in touch!
We are thrilled to share our latest Market Report with you.
In the report you will find an overview of the market…looking back at 2023 and ahead to 2024 (and beyond!), providing our analysis, views and on-the-ground insights.
Together with our local expertise, the backing of the Savills Global Network and our team of over 30 top multinational sales and marketing professionals, we pride ourselves on being your go-to agent for the most up-to-date and insightful industry knowledge.
We hope you enjoy our latest Market Report and invite you to discuss any of the covered topics with our Special Agents.
In this article, we’ve highlighted the introductory and concluding paragraphs, for the full report please click here.
2023 in numbers
2023 was the best tourist year ever in Portugal, with more than 30 million visitors, 77 million overnight stays and revenue of around €25 billion according to the Secretary of State for Tourism, Commerce and Services, Nuno Fazenda, during a public session of Turismo de Portugal, in Lisbon. This represents a growth of 37% compared to 2019 and 18.5% compared to 2022. Nuno Fazenda also highlighted that he believes that tourism will “grow further in 2024”. This is great news for the area and great news for the real estate sector. All new property purchases predominantly begin with a holiday to the region.
Our focus at QP Savills has always been the high end of the market which is concentrated in and around the Quinta do Lago and Vale do Lobo areas and in recent years the greater Central Algarve.
2023 started well. We quickly saw that demand continued to be strong and our biggest challenge was lack of stock. This trend was evident in 2021 and 2022 and continued into 2023, across the whole of the Algarve coast.
The persistence of an imbalance between demand and supply is considered by sector experts to be the main reason why house prices will not undergo corrections in 2024. “House prices have been rising for more than ten years and this is expected to continue, albeit at a slower rate, in 2024”, states Patrícia Barão, head of residential at JLL. The same opinion is shared by Hugo Santos Ferreira, president of the Portuguese Association of Real Estate Developers and Investors (APPII). “House prices are not expected to fall” in 2024.
The same upward movement is mirrored by Eurostat data, which indicates that, between 2010 and the second quarter of 2023, in Portugal, house prices rose by 93% (around 5.4% per year) and rents increased by 33% (2.3% per year). These numbers place Portugal in seventh place among the Eurozone countries with the biggest increase in house prices since 2010 and in tenth place in the ranking of Eurozone countries with the biggest increase in income.
The general lack of stock over recent years is one of the contributing factors to the continued price increases, but we did perform more valuations for property owners in 2023 and listed more properties than in recent years. The fact that property values can be quite eye-watering has proven too difficult for many property owners to ignore and too tempting. This has resulted in more properties coming onto the market but listed by vendors who do not need to sell, and will only sell if the offer is simply too good to turn down. More choice for buyers, but at a price.
The result being that prices indeed continued on their upward trajectory albeit, the speed of travel slowed slightly. The war in Ukraine and then the Middle East, coupled with the discussed end of the Golden Visa scheme and Non-Habitual Tax Residency scheme, have possibly resulted in a little nervousness. In Q4 our sales teams reported that buyers were a little less bullish.
At QP Savills we have observed from what was once a strong vendors’ market to what now appears to be a more level playing field. In the aftermath of COVID, we experienced a period of heightened urgency among buyers, creating a sellers’ market where properties were in high demand. However, recently buyers seem to be adopting a more deliberate approach, taking their time in making property-related decisions.
One key factor influencing this change is the slightly increased availability of property stock. The increased number of options has alleviated the pressure on buyers to act hastily, allowing them to thoroughly evaluate their choices before committing. While we currently find ourselves in this more balanced market, we anticipate that the real estate landscape will remain robust. The level of property stock and the more measured pace of decision-making do not signify a weakening market but rather a more healthy and sustainable one.
Portugal’s popularity undeniably is growing worldwide, with peak interest coming from Canada and the USA, to Dubai and Australia. Almost 140,000 visitors from the United States brought the number of foreign tourists in Portugal to a record high for the month of November 2023, according to the National Statistics Institute (INE).
Spaniards and Britons came second and third, with 131,000 and 124,000 visitors respectively, the INE said in its monthly report. More than 1.1 million foreigners travelled to Portugal in November.
It’s not just a sought-after destination for holiday homes; it has also become a preferred choice for digital nomads, couples of all ages, and young families looking to make it their permanent residence and possibly working for foreign companies while being based in the sunny Algarve.
And why not? The region’s appeal lies in its safe environment, excellent and increasing schooling options, and a healthcare system that rivals the best in Europe. The Algarve feels secure and far removed from issues in eastern Europe and the Middle East. Many new people are investing in property in the region and so many of our existing clients want to continue their love affair with the area, either upgrading or downsizing and this reluctance to part with property completely in the region contributes to the growing demand.
In Conclusion
Looking forward, it is conceivable that we may continue in this equilibrium or possibly witness a return to a vendors’ market. Crucially, our clientele comprises sellers who are not in a rush to sell their properties and are steadfast in their pricing stance. The enduring interest from buyers in Portugal shows no indication of diminishing in fact quite the reverse, and developers are displaying significant confidence in the market. This combination of favourable factors places us in a strong position to navigate any potential market fluctuations, and we eagerly anticipate a successful 2024.
This week we launch our new marketing campaign ‘The Brightest in the Business’ using our gorgeous Savills yellow to add even more sunshine to our corner of paradise this winter.
When many parts of Europe are covered in cloudy skies, the Algarve boasts an inviting climate, offering a much-needed escape to bask in the sun’s warmth. With mild temperatures averaging around 15-18°C during the winter months, this region becomes an idyllic retreat for those seeking refuge from the harsh winter elsewhere.
Check out lots of ways you can enjoy the Algarve’s winter sun and some beautiful properties to match!
Lifestyle
Whether you’re savouring fresh seafood at a beachside restaurant, exploring picturesque cobbled streets, or simply relishing in the region’s almost year-round sunshine, the Algarve offers a lifestyle that invites you to slow down, savour the moment, and appreciate the simple pleasures of life.
Turn-Key Project for a 7-Bedroom Villa in Quinta do Lago | Ref: 96323QP | Price: P.O.A.
“This project was conceptualized to seamlessly blend into its surroundings and local lifestyle. The property will be a brand new build in one of Quinta do Lago’s premier addresses, near the beach and lake, surrounded by all the resort facilities including the Campus and many luxury restaurants.”
Jamie Robinson,
Sales Director
Outdoor Activities
Contrary to the misconception that winter in the Algarve equates to a lack of activities, this season presents an ideal opportunity to explore the region’s diverse offerings. From golfing on world-renowned courses to hiking along picturesque trails, there’s something for everyone to enjoy.
Lovely 2-Bedroom Apartment in São Lourenço, Quinta do Lago | Ref: 08022QP | Price: €950,000
“This Lovely 2-Bedroom Apartment in São Lourenço is ideally located in the São Lourenço development, surrounded by the renowned San Lorenzo golf course, near the beach and borders the famous Ria Formosa nature reserve. This exclusive apartment boasts stunning views from the sunny terrace.”
Amy Kerins,
Marketing Director
Refurbished 2-Bedroom Ground Floor Apartment in Encosta do Lago | Ref: 83110QP | Price: €975,000.00
“This 2-Bedroom Ground Floor Apartment in Encosta do Lago is all about the connection to outdoor living, it offers a wonderful garden allowing you to enjoy the Algarve sunshine, but also coupled with close proximity to the nature trail boardwalks in Quinta do Lago.”
Jamie Robinson,
Sales Director
An Impressive 4-Bedroom Villa Located in Vale do Lobo | Ref: 85216QP | Price: €3,995,000
This Impressive 4-Bedroomsouthwest-facing Villa, located in Vale do Lobo, has lovely golf and sea views. The garden and master terrace benefit primarily from the afternoon sun but there is an east-facing terrace off one of the bedrooms to enjoy the morning sun too.
Iain Begg,
Vale do Lobo Manager and Senior Sales Executive
Deserted Beaches
The coastline, adorned with golden sands and crystal-clear waters, takes on a peaceful allure, perfect for quiet strolls along the beach or simply unwinding amidst the scenic landscapes. In the last few weeks alone we have been experiencing glorious weather with temperatures up to 20°C…keeping trips to the beach and al fresco dining high on the agenda.
Cultural Exploration
Beyond its natural splendour, the Algarve boasts a rich cultural heritage waiting to be discovered. Winter months provide an ideal time to delve into the region’s history, exploring charming towns, historic sites, and local markets brimming with authenticity. Embrace the slower pace, engage with locals, and savour traditional cuisine.
Stunning 4-Bedroom Villa with Sea Views near Loulé | Ref: 96036QP | Price: €3,500,000
“Experience elevated living in this Stunning 4-Bedroom Contemporary Villa, mere minutes from the heart of Loulé. This architectural masterpiece boasts high-end specifications, a luxurious swimming pool, unparalleled privacy, and breathtaking views that redefine the essence of modern elegance.”
Monica Mendes,
Loulé Sales Director
Real Estate Investment Potential
For those considering real estate investment, the Algarve’s winter sun plays a pivotal role in showcasing the year-round attractiveness of properties. Whether it’s a cosy villa overlooking the ocean or a charming apartment nestled in a quaint town, the appeal of the region’s climate and lifestyle significantly enhances the value and desirability of real estate offerings.
Ombria Resort – Viceroy Residences
“These residences are a collection of branded luxury apartments integrated within the 5-star Viceroy at Ombria Algarve Hotel and fully serviced and under the expert management of Viceroy Hotels & Resorts. The property offers a myriad of amenities, including multiple restaurants, a spa, leisure facilities, and an 18-hole golf course.”
Ricardo Falé Resorts and Developments Director
Whether seeking a holiday retreat, a place to call home, or an investment opportunity, the Algarve in winter stands as an irresistible destination that continues to charm visitors and captivate hearts year after year.
Contact one of our Special Agents today to discover your slice of paradise amidst the enchanting winter sun of the Algarve!
Golf is a popular sport in many parts of the world, but it has held a special place in the Algarve region of Portugal for many years. This stunning Atlantic coast is known for its beautiful beaches, vibrant culture, and delicious cuisine, but it is also a haven for golf enthusiasts from around the globe.
The Algarve offers a fine selection of golf courses. One of the main reasons why golf stands out here is the sheer number and quality of courses available. With over 40 courses spread across the region, there is a wide variety of options for golfers of all levels. These courses are designed by some of the world’s most renowned architects and players, making them challenging and visually stunning.
Moreover, the Algarve’s mild and sunny climate allows for year-round golfing, making it a popular destination for golfers from all over the world. The region receives over 300 days of sunshine annually, providing ideal conditions for a day out on the fairways. This also means that golfers can avoid the crowds and high prices of peak season and enjoy a more relaxed and affordable golfing experience.
4 to 6-Bedroom Villa in Quinta do Lago | Ref: 83144QP | Price: €6,550,000.00
“ I love playing at the San Lorenzo golf course in the off-season, the light during late September evening is simply stunning, especially over the closing holes. We have a wonderful traditional 4 to 6-Bedroom Villa in Quinta do Lago, overlooking the 17th and 18th holes which offers the same light and a little haven of golf paradise tucked away in a quiet corner of the Resort”
Jamie Robinson,
Sales Director
But it’s not just the quantity and quality of courses that make golf in the Algarve unique. The region’s landscape and natural beauty add to the charm of the game. Most courses are surrounded by breathtaking views of the Atlantic Ocean, lush green hills, and quaint Portuguese villages, providing a picturesque backdrop.
Modern 3-Bedroom Townhouse with Sea Views in Vale do Lobo | Ref: 95970QP | Price: €2,200,000
“In Vale Do Lobo we have two championship courses. The Ocean course and the Royal course. Both are quite different and challenging. My personal favourite is the Royal course as it’s a very tight start with beautiful villas on either side of the course so you need to be hitting pretty straight. The 16th is their stunning signature hole. It’s a long par 3 with your shot off the tee, all-being-well, sailing over the cliffs which drop down to the beach and sea. One doesn’t want to hook the ball otherwise you’ll need your bucket and spade. There are some beautiful linked villas which are not too large near the 16th called the Mimosas. We currently have a beautifully renovated Modern 3-Bedroom Townhouse with Sea Views in Vale do Lobo for sale.”
Iain Begg,
Vale do Lobo Manager and Senior Sales Executive
What also distinguishes golf in the Algarve is the warm and welcoming atmosphere that permeates the golfing community. The locals take great pride in their golfing heritage and are always happy to share their knowledge and passion for the sport with visitors. This creates a friendly and inclusive environment for golfers of all backgrounds to come together and enjoy their shared love for the game.
Impressive 6-Bedroom Villa in Quinta do Lago | Ref: 19006QP | Price: P.O.A.
In addition, the Algarve is home to several prestigious golfing events, including the Portugal Masters and the European Amateur Team Championship. These events draw in top players from around the world and help put the region on the map as a world-class golfing destination. “The South Course held a few Portuguese Opens, this is my favourite course, with the pine tree-lined undulating fairways, generous greens and some of the most iconic tee shots in the Resort. We have an Impressive 6-Bedroom Villa in Quinta do Lago that borders this course and overlooks the 6th hole of the South, with a modern new build with spacious mature landscaped gardens.”
Josh Roberts,
Sales Executive
But it’s not just about the sport itself, golfing in the Algarve is also a great way to experience the “real” Algarve. Many courses are located near quaint towns and villages, allowing golfers to explore the local markets, try traditional dishes, and immerse themselves in the Portuguese way of life.
In conclusion, golf in the Algarve is distinguished by its stunning courses, year-round availability, breathtaking landscapes, welcoming community, and cultural experiences. It truly offers a unique and unforgettable experience.
Golf remains a driving force for buyers here in Algarve. Many golfers stay in properties near or on the golf courses in the Algarve for ultimate convenience and luxury. These properties range from luxurious villas and apartments to high-end hotels. Many offer special golf packages with discounts. This adds to the overall golfing experience in the Algarve and makes it a popular destination for those looking for a golfing holiday.
The Ascendance of Branded Residences in Today’s Real Estate Market:
A Closer Look at Off-Plan vs. Regular resales
Here at QP Savills, we like to keep ourselves and our clients informed on the latest in the ever-evolving real estate market. A trend that has caught our eye and that we’d like to share with you is the concept of branded residences. These properties bear the distinct mark of renowned brands, blending luxury and lifestyle into a unique living experience. Simultaneously, buying off-plan, where you invest in a property before its completion, is gaining momentum as an alternative to traditional resales. Keep reading and we will delve into the significance of branded residences in today’s real estate market and draw comparisons between purchasing off-plan and regular resales, exploring the intricacies of each approach.
Branded Residences: The Ultimate Statement of Luxury
Branded residences are, in essence, the epitome of luxury living. When a prestigious brand extends its expertise to the world of luxury real estate, it guarantees top-notch quality, exclusive amenities, and impeccable service. Whether it’s a luxury hotel chain or a renowned fashion house, the brand’s identity permeates every facet of the development, from architectural design and interior aesthetics to round-the-clock concierge services and an array of recreational facilities.
What sets branded residences apart is their global appeal. These properties are nothing short of international symbols of opulence, drawing the interest of potential buyers from around the world. Owning a residence with the stamp of a respected brand goes beyond mere property investment; it’s a declaration of personal style and sophistication. Additionally, investing in branded residences can lead to significant appreciation over time. The association with a prestigious brand adds substantial value to the property (30% is the average price premium for branded residences), as per a Savills Research Report “Branded-Residences-2023“, making it a highly lucrative investment. Even in turbulent market conditions, these properties tend to retain their appeal and value, presenting a stable investment option.
One such branded residence is voco® Formosa Park – Algarve, an example of luxury real estate and prime Algarve property. This development, exclusively sold by QP Savills, boasts a selection of fully furnished luxury apartments in a prime location between Quinta do Lago, and Vale do Lobo, overlooking Ancão Beach. The construction of this development is nearing its conclusion, offering an investment opportunity with various buying choices that include a guaranteed income option. If you would like to arrange a visit to see one of the show apartments or are interested in properties for sale in the Algarve please contact one of our Special Agents.
voco® Formosa Park – Algarve
Buying Off-Plan vs. Regular Resales: Weighing the Options
Now, let’s explore the key differences between buying off-plan and opting for regular resales, considering the advantages of each approach.
Buying Off-Plan: Embracing the Future
1. Price Advantage: A primary advantage of buying off-plan is the potential for cost savings. Developers often entice buyers with special pricing and early-bird discounts to secure commitments before the property’s completion. This can lead to substantial savings compared to purchasing a resale property at market value.
2. Customisation: When buying off-plan, buyers typically have the opportunity to customise certain aspects of their future home, such as finishes, fixtures, and layout. This level of personalisation is a rare gem that is seldom achievable with regular resales, allowing individuals to tailor their living spaces to their unique preferences.
3. Long-Term Value: Off-plan purchases present the potential for long-term value appreciation. As the property nears completion and the surrounding area develops, the value of the investment can increase. This makes off-plan buying an appealing option for investors seeking to capitalise on capital appreciation.
Regular Resales: Embracing the Present
1. Immediate Occupancy: One of the standout benefits of regular resales is the prospect of immediate occupancy. Once the sale is finalised, the buyer can swiftly move into the property without the waiting period associated with off-plan purchases. This is especially advantageous for those in need of housing without delay.
2. Established Community: Regular resale properties are often located in well-established neighbourhoods with existing infrastructure, amenities, and a strong sense of community. Buyers can thoroughly evaluate the neighbourhood and its suitability for their lifestyle before making a purchase decision.
3. Reduced Uncertainty: With regular resales, buyers can physically inspect the property they intend to purchase, mitigating uncertainty regarding its condition and potential issues. This diminishes the risk linked to off-plan purchases, where the final product may differ from initial expectations.
The Synergy of Branded Residences and Off-Plan Purchases
The convergence of branded residences and off-plan purchases offers a compelling investment opportunity. Buyers can leverage the prestige and long-term value potential of branded residences while benefiting from the advantages of off-plan buying. These benefits include early access to exclusive units, customisation opportunities, and competitive pricing. As developers recognise the demand for branded residences, more of these properties are being offered as off-plan investments, further enriching the real estate landscape.
In Conclusion
In today’s real estate market, branded residences represent the pinnacle of luxury and exclusivity. They offer an exceptional lifestyle experience, investment potential, and the allure of owning a piece of a world-renowned brand. However, the choice between buying off-plan or opting for regular resales is not straightforward and involves unique advantages.
Buying off-plan provides cost savings, customisation opportunities, and the potential for long-term value appreciation. On the other hand, regular resales offer immediate occupancy, an established community, and reduced uncertainty.
The convergence of branded residences with off-plan purchases creates a niche segment in the real estate market, uniting prestige with investment opportunities. It’s a testament to the continuously evolving nature of the real estate industry, offering an array of choices for buyers to explore and make informed decisions that align with their lifestyle and investment goals.
Stay tuned for more content!
Ricardo Falé Resorts and Developments Director [email protected] | +351 289 396 073 | qp.pt
To proudly celebrate our special corner of the world and the exceptional homes that make it what it is, we have carefully curated a range of stunning properties and present to you the latest edition of our Property Portfolio.
What’s Inside…
Our Property Portfolio aims to give you a great overview of some of the best properties currently on the Algarve market. We believe the homes featured really showcase the exceptional standard of architectural design to be found here in the Algarve.
We have also included some helpful information…both about the locality and purchasing a home in Southern Portugal. There is a particularly nice feature on the local town of Loulé, where one of our offices is located. It is a beautiful market town with lots of new and with interesting restaurants opening it is becoming a fabulous place to while away a morning, afternoon, or evening!
Property Portfolio Digital Version
We are so happy to announce a digital version of the property portfolio has been created which can be easily accessed here! Finding your dream home has never been so easy.
Resorts and Developments
We are continually focusing on the expansion of our Resorts and Developments offering and included in the guide you will find some of the best investment opportunities in the Algarve. Ombria, Vilamoura Parque and The Wyndham are a handful of the most spectacular upcoming developments. For more information on any of our developments, please contact Ricardo Falé on +351 914 252 200.
Savills International Office
As long term associates of Savills, we have access to some of the best property listings in the world. From chalets in Switzerland, to Cape Winelands in South Africa. We are incredibly proud to be one of Savills’ most treasured and successful associate offices and look forward to being able to leverage this partnership on your behalf.
To discover more about our listings or talk to one of our team, please click here.
We very much hope that you enjoy our Property Portfolio as much as we have enjoyed creating it, and look forward to hearing from you.
Please email us on [email protected] or call us on +351 289 396 073.
“People usually are the happiest at home” – William Shakespeare.
At QP Savills, we understand the importance of continuously expanding our knowledge and expertise to be able to provide the very best and most up-to-date advice to our clients. With new members of the team bringing new skills and more experience, we continue to be better equipped to stay ahead of the game in the Algarve property market.
As expected, trends are changing. Portugal is attracting an ever-increasing amount of foreign investors from around the globe and the exceptional lifestyle the coast offers is proving to be evermore popular, hence the growing popularity also of properties within resorts and branded developments.
With Ricardo, our newly appointed Head of Resorts and Developments, we are certain that our commitment to delivering exceptional assistance and unparalleled investment opportunities will only be strengthened.
Development properties are often easy to own, as they are usually fully managed, “lock-up and go” properties and are often fabulous investment opportunities. They offer superb onsite sports, health and leisure facilities as well as a choice of restaurants and in the Algarve, of course great access to beaches and golf.
Our new Resorts and Developments team will be based in their own QP Savills branded office at the entrance to Vale do Lobo. From here they will be able to introduce you to the very best Developments across the entire coast. And, if you are a developer looking to invest in a project. Ricardo can guide you through the process and introduce you to some excellent options.
We are very excited about this new branch at QP Savills and Ricardo and his team look forward to being of service!
To find out more and register your interest in a development project, please call us!.
QP Savills believes the success of Quinta do Lago, Vale do Lobo and the surrounding areas is down to the strength of the local community and, of course, Apolónia is at the heart of ours.
We are so proud to share that we have hosted the villa for Apolónia’s summer season 23’ product marketing! The experience of supporting each other in recent marketing campaigns and strengthening a business relationship has been more than exciting and we are glad to share this news with you today.
This picturesque, well-styled and immaculately kept home is well deserved for all the glory it’s receiving. We are so grateful to the owners for giving us their home to show not only properties on our books, but the products Apolónia stock too. This villa mirrors perfectly what the Algarve has on offer – stunning views, a delightful living environment and the predominant focus being on dining. With plenty of outdoor seating areas, a BBQ for al fresco dining and a high-quality kitchen, it is no surprise that it grasped the attention of Apolónia’s team. Not only is this home suited for summer days spent relaxing around the pool, but its adaptable qualities also establish it to be comfortable for all seasons. A wood burner fireplace, double-glazed windows and underfloor heating all add to the cosiness of this unique property.
It is widely known that our corner of the world is a retreat for a healthy lifestyle. Year-round sunshine is complemented with fresh air, rolling mountains, beaches, local wine and scrumptious foods, making the Algarve the ultimate destination to reconnect and live a stress-free life. With 31 golf courses and more than 40 spas in the region, those seeking greater serenity will be well suited to the paradise we are lucky enough to call home.
This efficient supermarket provides a range of services making accessibility so much easier, including daily deliveries between 9 am – 7 pm, online shopping and a click-and-collect service. However, serotonin levels are boosted by in-store shopping and customer service is always top-notch. There is a para-pharmacy located inside the supermarket where staff speak fluent English and the cafe serves the yummiest treats. How lucky we are for having one of only three stores in Portugal right on our doorstep!
When we asked our company director, Alison, about her thoughts on Apolónia she commented, “When you are asked where you live in the Algarve, more often than not you will hear people answering with how far they live from Apolónia. It truly is the center of our southern Portuguese universe! I have been doing my grocery shopping at Apolónia for close to 30 years, watching it grow from a small local shop to a booming, famous, and well-stocked supermarket. Kerstin and I have known Paulo and his family for a similar amount of time, and from one family business to another, it’s fabulous to see how far they have come. Not only does Apolónia sell scrumptious food sourced from local farmers and fishermen but it supplies foods from further afield, which other shops may find hard to hold. We are so proud to team up in recent marketing and business ventures and we all look forward to the relationship growing over future years”.
If you would like to find out more about Apolónia or do some quality shopping, click here.
Villa la Mirage is a fine example of all the homes we have in our portfolio, so please pop into one of our offices if we can be of help finding you your dream retreat! (No appointment booking required).
QP Savills believes that flowers symbolise celebration and because there is so much to celebrate this year, we thought what could be a better way to show this than as our 2023 marketing campaign? We are a representation of the gorgeous environment we surround ourselves in, the increasing demand for property, the exceptional calibre of houses, our fabulous team, and of course, our super clientele. As we are so fortunate to share our celebration of success with you, we wanted to give something back and so hope that our displays make the Algarve even brighter than it already is.
We have decided to wrap our offices with the most idyllic blooming flowers, and beatified the Algarve with billboards, showcasing the most stunning florals. These flowers, which are bursting open, symbolise new beginnings and growth. QP Savills continues to flourish and prosper but as always, we are so incredibly grateful for the masses of support which has led us to become what we are today.
It has been such a pleasure to work with Julie for this campaign. When we asked her for a couple of words on her experience working together she said, “Working with QP Savills over the past couple of weeks has been such a rewarding career experience. Together, as a team, we have joined both creative and business minds, to produce what only can be described as an incredible display of local flowers. Over the past 5 years of growing my business, I have received excellent support from customers in Quinta do Lago and QP Savills is no exception. Allowing me the space to play with colour concepts, arrangements and choice of flowers has really pushed me to achieve something spectacular. I really hope you love the final products just as much as I do.”
Our process was a very fun one, which can definitely be seen in the outcome of the photographs. We began to put together 4 different colour concepts and spoke about the integration and placement of each flower. Once decided, we then arranged a date for a photographer and hundreds of local and exquisite flowers to come together to capture the elegant vision we had in mind.
Taking the time to pick and choose our favourite photos, which successfully achieved the outcome we were after, was so much fun. We are so pleased with the final outcomes and hope you are too.
Our office displays have been designed with attention to detail and we welcome you to come and take pictures with them. If you so happen to spot one of our billboards, don’t forget to share your photos using the hashtag #qpsavillsflowers – we would love to see and post them on our social media platforms!
Below is a map of all the billboard locations. We wish you luck in finding them all.
If you would like to know more about our campaign or properties on our portfolio, please do get in touch. As always, we would love to hear your thoughts on our new campaign.
Loulé is known as a quaint market town embedded into the heart of the central Algarve. Beautiful and traditional facades line the streets and main avenue, many of which have been restored to their former glory. Visitors are drawn to Loulé for it’s authentic Portuguese atmosphere, but there is so much more to Loulé than the Arabian-inspired covered market, its characterful historic center and rich culture. Here are a few of our QP favourite spots that we want to share with you:
The Art Scene
A lot of artistically minded individuals tend to find their way to the Algarve and Loulé is a perfect example of why. Artcatto, a prime contemporary art gallery features some of the best national and international artists, as well as In The Pink, a gallery for photo art, which showcases contemporary photography of the best internationally renowned photographers. Both are located on the main avenue in beautifully restored buildings. There are also numerous workshops available related to the themes of creativity, heritage, and arts and crafts. These include pottery, weaving, painting, handicrafts, and so much more. Take a look at LouléCriativo to see the options, and get inspired!
Markets
The streets of Loulé are bustling on Saturday mornings as locals and tourists come together to visit the popular markets. Organic local produce, freshly caught fish, handicrafts, honey from Loulé’s province, traditional Portuguese cheeses and so much more is well displayed at this old and traditional market. ‘The Mercado Municipal’ has been around since 1908 and still radiates its charm and cosy atmosphere. The indoor food market is open Monday – Saturday (7am-3pm.) Also on Saturday mornings and just a 10-15 minute walk away is the Loulé gypsy market, which also sells lots of interesting little things and has always been extremely popular. Kick off your weekend by spending your next Saturday morning at the markets. Enjoy a coffee and a pastel de nata while perusing the stalls and stocking up on fresh, delicious (and great value for money) produce for the week!
History
Loulé has a grand and impressive history dating back hundreds of years. Over time various settlements made this notorious town their home, including the Moors, Visigoths, Romans, and Christians. It is evident that the Romans played a monumental role in the development of Loulé’s infrastructure and remains can be found in the form of bridges, fish-preserving mechanisms, and, of course, the famous castle. The castle has been adapted and expanded a number of times and has transformed from a simple fortress to a towered stone structure designed for defending. The castle is open every day except Sundays and Mondays, and has a museum inside. It is also worth visiting the Islamic baths, which date back to the 12th century, and are the first to have been archaeologically documented in Portugal. From tiled tucked-away chapels to fresh water fountains, this little town is absolutely immersed in history.
Shops
Loulé holds many boutique shops, with Alison’s favourites being Martinawhich sells trendy clothes, tasteful jewellery and accessories, quirky hand-made crockery and even chic pieces of furniture. Rua. 5 de Outubro is a cobbled pedestrian street that is lined with traditional shops. Leather items, linen clothes, cork products, handmade ceramics and jewellery, and so much more. Centro de Artesanatois packed with porcelain tiles and other handmade gems which make for the perfect souvenirs. Medieval alleyways weave through the town and often have workshops of traditional family trades spilling out onto the street selling pottery, upholstery, tile paintings and hand-worked copper.
Food
For the food critics among us, the array of delicious restaurants in Loulé is of top quality.
For local dishes, Bruna loves Churrasqueira Angolana(the best grilled chicken in the Algarve! But do book as this tiny place is always busy) and Alfonzo III,11 da Villa, Oliwander’s, and Cafezique. L’atelier Gourmet is a French bakery situated near the market, and serves exquisite pastries, tartlets, and cakes. Miguel suggests you go early or call to order your favourite goodies prior to visiting, especially on Saturday mornings.
Next door to our Loulé office is Café Calcinha, which opened its doors for the first time in 1929. It is worth popping in and admiring the classic old-fashioned architecture while enjoying typical Portuguese pastries and food.
Loulé has plenty of Local Amenities.
Kerstin’s favourite market stall is situated right outside the QP Loulé office during the bustling market day. Farmer Peter’sstall is a treasure trove of home grown produce, showcasing the vibrant colours and flavours of the Algarve region. His fruit and veg are grown with love and he has now been certified with selling organic foods (a hard accomplishment to come by). We love supporting local farmers and producers!
Monica and her children have fallen in love with 8100 Gelatothe brainchild of accomplished restaurateurs Mark and Michelle Relph. With a keen focus on inclusivity, they proudly offer a range of gluten-free, vegan, dairy and sugar-free options, ensuring that everyone can indulge in their delightful creations. The best ice cream in town!
Stefan and his teenage twins love exploring the Mina de Sal-Gema de Loulé, a hidden destination located beneath the city of Loulé. Nestled in the depths of the Campina de Cima rock salt mine, this site unveils a mesmerizing labyrinth of galleries, showcasing a fascinating array of machinery. As they descend into Portugal’s deepest tourist site, reaching an impressive 230 meters below the surface, they embark on a remarkable adventure that blends the activities of rock salt mining with the enchantment of mining tourism.
Hospital de Loulé stands as a beacon of healthcare excellence in the region, with its state-of-the-art facilities and a wide array of clinical professionals. The hospital’s doors remain open 24 hours a day. Many of our clients who used to fly back to the UK to have procedures done are now opting to have them done here instead!
Stephanie, our coffee enthusiast, starts her mornings with a visit toBean 17 Coffee, the ultimate coffee haven in the Loulé market with freshly roasted Speciality Coffee. She swears it’s the best coffee in the country. Bean 17 Coffee and More is not just a place for a caffeine fix; it’s a breakfast paradise. Stephanies go-to choice is the special egg and avocado toast. IIona takes pride in her craft, ensuring that each cup of coffee is brewed to perfection.
And of course, our office! Located right on the main avenue and in the heart of Loulé, this is worth a visit in its own right as it is a beautifully refurbished building that used to house an old pharmacy. Feel free to stop by for a chat and a coffee if you want more information on any of our listed tips; we are always there to welcome you.
We hope to have provided you with some insight and inspiration. Go and explore, and we hope that you will learn to love Loulé as much as we do!
Article written by Alison Hojbjerg, Co-Owner and Director of QP Savills
Alison Hojbjerg and Kerstin Buechner – Co-Owners and Directors of QP Savills
I’ve just come back from LA. My daughter moved there after having spent her university years in London. Home being the Algarve where we have lived for the past 25 years. “The weather is the same and even the trees and flowers are like ours – it’s like being home!” She loves it there. Indeed our serene location here in Portugal on the western tip of Europe seems to resemble the Californian lifestyle.
According to the Portuguese government website, to date some 10,000 Americans have moved to Portugal, that’s up by 200% over the past five years.
Here at QP Savills my sister Kerstin and I and our team of Special Agents have been selling some of the most beautiful properties in the Algarve over the past 25 years, but almost exclusively to Brits and other Northern Europeans who have long discovered this very special corner of Portugal. That’s now changing.
With global markets being extremely volatile, political instability and inflation remaining high, here, in Europe’s leading tourist destination, life seems oblivious to what’s happening in the rest of the world.The Algarve is attracting buyers from all over the globe and especially Americans in the last couple of years. So far this year we have sold over €100-million worth of property in the Golden Triangle, that’s up 9% from this time last year.
Since January we have received over 85,000 web-based visits. UK customers still account for almost 50% of them however we were surprised to see that the US web-based visits increased by 157% year-on-year.
In 2022, we successfully sold a property in Quinta do Lago at the highest ever recorded here at QP Savills, (if indeed in Portugal), at €18.5 million. Year-to-date we have already succeeded this number twice!! Our ‘Special Agents’ have recently sold two properties exceeding €20 million. For Europeans, these figures are staggering, however in many areas of the USA, such as Pacific Palisades in LA prices in this range are not uncommon. Some Americans may be surprised at the luxury to be found here at this price level, compared to mansions in their home areas.
Our most expensive listing so far, Soprano, coming in at €42 million located on the very tip of Quinta do Lago was created by one of the area’s most forward-thinking, ambitious property developers with an unmatched track record. Designed by one of the best-known architects in the region the architecture, ideas, style and sheer scale of the villa are awe-inspiring. I wouldn’t be surprised if the new owner of this exceptional estate, arguably the finest in the country, will be American.
Portugal was voted the number one place to retire by the International Living Retirement Index, the 6th safest country to live in across the globe by the Global Peace Index and ranked 12th by the World Health Organisation, which suggests an even stronger trend for buying in Portugal going forward.
Americans, with their strong currency, have begun looking overseas and many who used to flock to Florida for their winter retreat are looking at Portugal. I asked Dino Vendetti, a venture capital investor and entrepreneur from the US who moved here recently, what attracted him to the Algarve: “The reason we were attracted to the Algarve is probably very similar to the reasons many others from the EU and UK have moved here; the warm friendly Portuguese people, nearly perfect weather, beautiful beaches, and year-round outdoor activities. The country still has a rugged, rough around the edges feel to it that is very authentic and appealing. We have been traveling to Europe for many decades and Portugal was always on our radar. We finally made our way here around 8 years ago, instantly fell in love with it, and moved here permanently last year. I think Portugal has definitely taken its proper place amongst cocktail party conversations and is on the travel list of many Americans this year.”
Having just spent time on the US West Coast I can understand the attraction of Portugal to the American market; not just the wealthy, but also value-seeking retirees. Portugal offers real value for money. In the US I was stunned at the costs of basic amenities: I was shocked when the Venice Beach-based hairdresser asked me for $85 for a blow-dry! A far cry from the €15 I normally pay locally. My morning cup of coffee, served in a paper cup was $7, here my coffee costs 80 cents. And, when in the States don’t forget to tip at least 22% on top of all this!
Life here is really second to none. Kerstin and I have lived in many countries around the globe and we could not imagine anywhere we would rather live. My sister and I (both Americans), welcome our fellow Americans and are happy not just to offer our exceptional portfolio of selected properties but also would be pleased to share our experiences of living here over the past 25 years.
We and our Special Agents look forward to hearing from you.
Did you know Portugal has the fifth most powerful passport in the world?
17th May, 2023
Article written by Special Agent, Alina
Did you know Portugal has the fifth most powerful passport in the world?
The Portuguese passport allows you to easily enter 185 countries, even surpassing several world powers such as the United States of America or Canada whose passport “only” allows you to enter 184 countries.
Portugal has the fifth most powerful passport in the world, opening most doors worldwide. Passport holders can enter 185 countries without additional visa formalities. The country comes in 5th place simultaneously with Norway, the Netherlands, Switzerland, and the United Kingdom, according to the Henley ranking.
The 10 most powerful passports in the world:
1 – Japan, Singapore, South Korea
2 – Germany
3 – France, Denmark, Finland, Italy, Sweden
4 – Luxembourg, Spain
5 – Portugal, Austria, Netherlands, Norway, Switzerland, United Kingdom
6 – United States, Belgium, Canada, Greece, Ireland
Iain is one of our Special Agents and loves exploring the Algarve with his family. From travelling to Fortaleza de Sagres, or attending a traditional chorizo festival in Querença, the Begg family never cease to find an adventure. His two children have moved to a local international school and as you can tell by the smiles on their faces, they love it here in southern Portugal. When asked about his experience of moving out to Portugal, Iain said, “having lived in London for 16 years, it is now a pleasure to wake up to the sunshine every morning and we all love the outdoor lifestyle the Algarve has to offer”.
Sales Director, Jamie
Jamie is our sales director here at QP Savills and the pictures on his camera roll perfectly sum him up. When he isn’t working hard in the office, Jamie is out discovering new tracks on his bike or posing for a picture on the incredible Falesia cliffs. Daisy, the Robinson family’s crazy woofer, adores long walks and is the best companion for scouting out new trekking routes. If you love new adventures, especially whilst cycling with the wind in your hair (just like Jamie…), why don’t you cruise down to Faro Island and grab a bite to eat at, one of our best kept secrets, Cafe do Zé?
Administrator, Tuesday Roberts
Tuesday is our newest member of the team here at QP Savills, and fills her weekends making special memories roaming around the Algarve. Whilst she is working with us, Tuesday is on a mission to find the perfect spots for scrumptious food, breathtaking views and quirky hidden secrets. Her latest adventure led her to Armona Island, for a day spent soaking up Vitamin D. One can only embrace the traditional Portuguese life, whilst strolling through the most unique and tranquil village at the heart of the island. There is no place truly quite like it! Top Tip: If you are lucky and the tide is low, you can wade out to beautiful sand dunes formed in the sea, located on the island’s South West coast.
Administrator, Susana
Susana is a fundamental part of the administration team and has the most contagious smile. If anyone were to know the secrets of The Golden Triangle, it is she. Beach hangouts, quaint fisherman villages and historical architecture all bombard Susana’s camera roll, making it one of the most special galleries of photographs you will ever see. A glimpse into a typical weekend with Susana includes hopping on the mini-train to Praia do Barril beach, and relishing in some quality family time, or even enjoying the sunset amongst the best work colleagues in the world.
Susana surprised her daughter with an unforgettable birthday present, a hot air balloon ride! Why don’t you take a trip up into blue skies and absorb 360 degree views of Lagos and the countryside surrounding it?
Special Agent, Alexandra
Alexandra is based in the Loulé office and is the woman to go to when it concerns restaurant recommendations. Evenings spent at Cestaria in Olhao or delicious dinners at Alameda restaurant in Faro; Alex knows the ultimate spots for incredible food and fab service. On the days in which Alex isn’t being our very own food critic, she’s spending time in the outdoors, hiking the Cabeça do Cerro da câmara in Loulé or strolling along the beaches. TOP TIP: Pop into the tourist centre located in Loulé and treat yourself to a bundle of local walk guides – there’s an abundance of them.
Special Agent, Raquel
Raquel is one of our fantastic Special Agents in the Quinta do Lago office. The Santos family spend their time together celebrating life to the full! From hosting birthday parties at Par-Tee or visiting the Faro fun fair in October, and going on adventurous missions around the Fonte Benémola, Raquel and her boys are creating memories which will remain for a lifetime. Hint: Be sure to walk around the nature reserves in the winter seasons so that there is plenty of water to splash around in.
Looking through this superstar’s camera roll, it is clear to see that there is plenty to do for the whole family out here in our neck of the woods. The outdoors is embraced wholeheartedly and adds to the recipe which makes the Algarve an incredibly happy place to live.
Financial controller & compliance manager, Tina
Our financial controller, Tina, must be one of the coolest in her profession. With a trendy fashion sense and a bright personality, her camera roll doesn’t imply anything different. On Tina’s most recent excursion, she travelled to Ilha do Pessegueiro for the perfect getaway. Drinking wine and horseback riding along the beach, the pictures were stunning and could inspire anyone to venture away for the perfect weekend.
It has been a fantastic start to the year here at QP Savills!
We kicked this year off with lots of excitement and it has been beyond all of our expectations.
With global markets being extremely volatile, political instability and inflation remaining high, here in ‘Europe’s leading tourist destination’, life seems as sunny as ever.
Here is a brief summary of what has been happening at QP Savills this quarter:
We have agreed on an astonishing 23 sales in this first quarter, which accounts for over €97 million worth of property! This number is 9% higher than Q1 of 2022.
In Q1, we received enquiries from 300 new clients with 71% of these from digital platforms. The push for online marketing and social media strategy has achieved a following of over 6,000 people, throughout multiple platforms.
In the last quarter of 2022, we had website visits from over 73,500 people which increased by 16.6% to exceed 85,700 in this first quarter alone. UK customers still account for almost 50% of the total website visits with the US web-based network increasing by 157% year-on-year.
In 2022, we successfully sold a property in Quinta do Lago at the highest ever recorded here at QP Savills, (if indeed in Portugal), at €18.5 million. Year-to-date we have already succeeded this number twice!! Our ‘Special Agents’ have recently sold two properties exceeding €20 million each, which is a testament to the incredible listings we have amongst us in The Golden Triangle and the calibre of clients who are attracted to this area.
We are proud to say that QP Savills continues to hold an impressive 70% share in the local housing market.
Here at QP we recorded the average price per square metre being over €13,500 which is 603% higher than the average price per square metre in Portugal.
This quarter, sales have, again, been dominated by British buyers, who have accounted for 70% of total sales however, there is a greater influx of clients from further afield, including investors from Argentina, Peru, India and America.
Since Q1 of 2022, construction costs have increased by 9.1%, which explains the general preference to purchase fully constructed properties rather than plots. However, the global ‘race for space’ is among us and there are some very special future developments underway.
As mentioned in the market report for Q4 2022, QP Resorts and Developments, Consultancy and Sales, will be run from our offices located at the entrance of Vale do Lobo to focus on the increasing demand for developments.
Portugal was voted the number one place to retire by the International Living Retirement Index, the 6th safest country to live in across the globe by the Global Peace Index and ranked 12th by the World Health Organisation, which suggests an even stronger trend for buying in Portugal going forward.
Some of our Special Agents are planning a trip to the States, as we note the influx of American buyers here in the “California of Europe”. We have recently launched a marketing campaign in the USA and hope to strengthen our American networks with the emerging demand.
Earlier this year, members of our team attended the Savills Global Residential Conference, which took place in Lisbon. The event proved to be a massive success, proudly bringing together over 160 colleagues from 20 countries across the globe. Alison Beuchner Hojbjerg, co-owner and director of QP Savills, was a member of an all-female panel and said, ‘The day was full of pleasant surprises, and we are extremely grateful for being acknowledged as one of the most enduring and successful performance associates globally in the Savills Hall of Fame’.Click here to read more.
We are a dedicated team and work hard to achieve the best outcomes for all of our clients. We strive to continue to be your ‘Best Sellers’.
Spread over three offices located in Loulé, Vale de Lobo and Quinta do Lago, QP Savills is one cohesive team and the support of one another is reflected in the internal working dynamics of the company.
We are continuously reflecting on our customer satisfaction and feedback, whilst making a big effort to consciously make changes when needed. The success of moving our servers to the cloud, has resulted in our clients’ data being much safer and the access to information being much quicker, resulting in smoother customer service. If you have any feedback, we are always grateful to hear from you. Please call us on +351 289 396 073 or even better come and see us in one of our offices.
All of us here at QP Savills are raring to go for what the rest of the year will hold. We’d like to thank everyone for making this first quarter so memorable and for the continuous support given to us over the last 25+ years.
Please call us if we can be of any help. We look forward to hearing from you.
Article written by Susana Rodas, Business Development Manager
The Savills Global Residential Conference took place over the 28th & 29th of March and it proved to be a massive success. Held at the Museu de Oriente, Lisbon, overlooking the River Tagus, the two days included a lively and thought-provoking mix of panel discussions, interviews and presentations. The event brought together over 160 colleagues from 20 countries across the globe.
It marked a proud occasion when Alison Buechner Hojbjerg, co-owner and director of QP Savills participated on one of the panels that covered topics such as: market share, innovation, the future of the business and diversification. Alison commented, “It was a great opportunity to understand different business models around the world and to learn from our colleagues on how we can continue to best serve our clients”.
Global Markets Updates, Trends and Outlook
Day one began with Paulo Siva, James Sparrow and Justin Marking followed by a fascinating panel looking at the global challenges and opportunities we all face. The discussion included Savills employees and associates from the US, China, South Africa, the Middle East and Spain.
The biggest challenges at current include the inflation shock, political instability and the effects it has on costs, the recent financial crises in the banking system and the low expectations for GDP growth across the globe.
As a result of the pandemic, the current demand is for less expensive properties with better quality of life and greater access to outdoor space. With Portugal being the perfect location to own a second property as an extension of a first home, it has now become one of Europe’s strongest countries for a bigger compound annual growth rate. For comparison, rental values in Lisbon have increased by more than 20% over the last 5 years.
Taking Market Share
The event included an all-female panel entitled ´Taking Market Share´, where QP Savills’ accomplishments were displayed. Alison Hojbjerg said, “The day was full of pleasant surprises, and we are extremely appreciative of being acknowledged as one of the most enduring and successful performance associates globally in the Savills Hall of Fame”.
In the Prime market of the Algarve, QP Savills holds an astonishing 70% market share, and some factors contributing to this success can be traced back to the beginning, in 1998. Today the company employs 25 passionate and positive employees, who maintain a close community and supports one another to meet the demand of the competitive market.
Justin Marking commented, “We really do have the best global residential network team in the business and it was great to spend time with them all and to see new contacts being made and old ones re-established. The energy and buzz over the two days was quite something and can only lead to an even stronger network and opportunities to refer business to each other”.
What have you seen during the run-up to the end of Q1 2023 in the local markets?
The business has continued to be very strong considering the season, normally January and February are slower months but we have seen some great sales agreed over this period.
Demand is high, with a few newer nationalities “finding” Portugal and now, especially the Algarve. Including Americans and Canadians, who previously have been limited to the bigger cities of Porto and Lisbon.
What if any, are blockers to the business?
The main threat to the business is that we are continuing to see a lack of a quality portfolio for sale, and we are finding it hard to list enough property for the demand we are seeing.
We have a list of clients looking to fulfil their wish list when it comes down to their ideal property but many if they are not willing to wait are taking compromised just to secure a property for use now.
What is your outlook for the coming months?
We have seen no real markers yet for any slowdown in what we have seen year to date. Towards the end of 2022 with higher inflation and increasing interest, we saw a slight levelling off, with buyers sitting on their hands studying the markets more before acting. Now with the recent banking struggles and associated share sell-offs, we expect again to see this. But overall we continue to be positive, with our recent sales breaking values records here in Quinta do Lago, we cannot see an end to the buoyancy yet.
As long as snowbirds still fly south in the winter…
2nd February, 2023
As long as snowbirds fly south in the winter… By Kerstin Buechner, Director and Co-Owner QP Savills
As I sit down to write this latest report on our property market here in the Algarve I actually do not really know where to start. Having just returned from a beautiful dog walk with blue skies and 20C (68F) in mid-January, it’s hard to assimilate all the gloomy information one reads in the papers with the reality here on the ground in Quinta do Lago.
One of my first jobs every new year is to look at our results from the past year and compare them to previous years. The stats have now been finalised and as hard as you may look, there is no sign of a “pending downturn” that some have predicted.
Before I share some of the trends I am seeing, I would like to point out that we work in the very top end of the property market in the Algarve. Our average sale price is just over Euro 3m, and our property portfolio does feature some extraordinary properties. To put this into a global perspective, over the past couple of days we have had the great pleasure of hosting and showing Jonathan Hewlett, Chairman of The Private Office at Savills, some of the properties currently on our books. He was impressed and confirmed that, with the local environment, facilities and lifestyle, our properties certainly live up to the standards of the best he has seen worldwide. The Savills Private Office handles single property transactions of up to GBP 100m – to 200m with some regularity and there is no doubt that Johnathan knows a good property when he sees one.
And we are incredibly excited that for the first time, we have achieved a price tag of over Euro 20m for the sale of a single private residence.
This is Portugal´s highest-ever residential sale exceeding that of Christiano Ronaldo´s purchase in 2022. Impressive for our market, yet compared to other second-home markets, such as the south of France or Miami, where 8-figure price tags are quite the norm, our prices are still baby prices. Here, property values have a lot of growing up to do. Contrary to popular belief, there is still much room for growth!
In 2022 total global wealth grew by 9.8% and there were 5.2m new millionaires. These High-Net-Worth individuals are driving our market and seem unperturbed by the increasing interest rates, and many are choosing to place their wealth in Euros and Algarvian real estate.
The number of enquiries coming to us from people interested in buying properties in 2022 was up by 34% on the previous year. Portugal is a hot topic of conversation, and not only in Europe. Americans, mainly from the west coast have discovered Portugal now too and they are the most numerous of the newcomers. Portugal has the climate, the lifestyle, a favourable tax regime, the Golden Visa scheme, attractive low cost of living, and it continues to win global awards to name a few: ´Best Country for Expats to Live in´, ´Safest Country to Live in´, ´Best Country to Retire to´, ´Best Golf Course Destination´, ´Best Beaches´ etc. etc. No surprise to us already living here, but Portugal has become seriously trendy across the world, and we haven´t even mentioned the food and the wine yet!
20 years ago, the central Algarve was a destination for retired golfers mainly from the UK and to a smaller extent Germany. This is very different today with the average age of our buyers in their mid-40s and a real mix of nationalities. Golf is just one of the many popular activities.
The British continued to be our largest group of buyers at 80+%. Today this has shifted to 69% and our clientele is becoming a little more international. 25% are from mainland Europe and 6% from further afield. Mainly from the USA and India.
Digital nomads and young families make up a large proportion of our new buyers and they are not buying holiday homes. They are buying beautiful permanent homes in the best locations with big price tags. If they do not plan to live in them permanently, they certainly plan on spending much more time here than just their summer holidays. They tend to be cash buyers with only a handful requiring mortgages.
There seems to be a strong preference for purchasing finished properties or those that need refurbishment over plots of land to build upon. This is probably partly due to the increase in construction costs (official figures say there is a 12.5% increase nationally although this figure is likely higher) and possibly even more importantly, the insane amount of time it can take to get plans approved. There is also the scarcity factor. Building regulations are tight and there are so few sites left to develop. All of these factors of course contribute to the increase in property values.
Ever since Alison, my business partner & sister, and I started this business over 20 years ago we have frequently been told by our clients that prices have reached their ceiling and are due for a correction. In 2008 we, like the rest of the world, were affected by the sub-prime crisis but the market was not suddenly flooded with properties and prices did not drop. Demand slackened slightly but it was not dramatic. And why is this?
I believe it has a lot to do with the enormous strength our clients have in terms of wealth. For many, their properties here are just a small proportion of their global assets. They have not overstretched themselves to buy properties here and are not servicing huge mortgages. Yes of course they enjoy the growth they see when their asset here appreciates in value, but primarily our clients buy here to enjoy spending time here. When times are tougher and a possible sale is not as lucrative as at other times, they just don’t sell which creates a shortage of stock which underpins prices.
So why are prices so much lower in Portugal than in other competing second-home markets?
Perhaps it is because Portugal is a late bloomer. It was for many years a cheaper destination and disregarded by many. It was Europe’s poor relation. Prices were low and stayed that way, while other second-home markets saw their popularity and property values increase. Maybe they were just better at promoting themselves than Portugal was.
Well, spring has come to Portugal. Not only are the Almond trees in full bloom as I look out of my window, but it seems our market is too.
I gave up trying to predict the future of our market many years ago. Nonetheless, with demand still outweighing supply, I cannot see that there will be a downturn in the market anytime soon. Our market continues to plot its own route and continues to prove that it is less susceptible to global forces than many other markets.
The legacy of Covid has left us with a fresh appreciation for a healthy lifestyle and this paired with a greater ability to work from home is only fueling our market further.
Snowbirds fly south because the environment there suits them better, something they seem to have in common with our clients.
For more information or great advice if you are looking to buy or sell, call us!
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