Algarve Tourism Guide - Algarve Property

Properties for Sale in Quinta do Largo, Albufeira - Algarve Property Guide

Buying property in the Algarve is a relatively easy affair and bears some similarity to buying property in Spain. Even before you start looking, you're advised to seek legal and professional advice, as the process of buying is different from the UK and can be a little complicated to the novice. Once you've found your Algarve property the seller/vendor will instruct their legal representative to obtain what is called an Escritura certificate from the local Land Registry. This document is assurance that the property is indeed for sale. You'll need this document when you finally come to exchange contracts - it needs to be given to the Notary.

A 10 percent deposit will be required from the purchaser when the purchase contract is being arranged. If you pull out, you'll lose this deposit, and if the seller pulls out they will have to come up with double the deposit monies. Both seller and buyer then are committed into the deal, with a huge financial incentive. For this reason you're well advised to do your homework and research on the property in question.

Your legal advisers will tell you you need things like a tax card, fiscal number from the Algarve authorities, and that legal fees usually amount to about 2 percent of the property price. You'll need to have a survey done too. Top tips from professional advisers are usually along the lines of not rushing, getting a good knowledge of the Algarve and what range of properties are available, thoroughly research residence rules for Portugal, get to know Portuguese culture and Algarve people, get advice and talk to a solicitor, use well known and reliable real estate agents, don't be bamboozled by pushy sales people and look into getting some completely independent advice. Also, on the personal front particularly if you're planning to relocate, ensure your partner and or family are all keen on the idea!

Using a Government Licensed Estate Agent is a good idea - see the European Estate Agents Union weblink right for details and advice.

Algarve Property Abroad Hotspots in Central & Eastern Algarve

The Algarve within Portugal is a particular hotspot for property purchase abroad, alongside the Silver Coast north of Lisbon, Madeira, increasingly the interior Alentejo and the Azores. On the central and Eastern Algarve property hotspots include the all inclusive luxury golf and spa resorts around Quarteira, fo example Vale do Lobo and Quinta do Lago, plus also old favourites such as Albufeira, Vilamoura, Faro and Tavira.

Albufeira's luxury marina complex is rather popular, and over to the far East at Vila Real de Santo Antonio there's a good choice of property near luxury Algarve golf courses and the Spanish border!

Property prices on the Algarve are generally cheaper than popular property hotspots in both Spain and France. Another factor making the Algarve a good property prospect is the fact that the housing market in Portugal has been fairly stable for the last 20 years or so. Many buying property in the Algarve are investors looking for a return.

Algarve real estate tends to be more expensive around luxury Algarve coastal resorts. Certainly within Portugal the Algarve is the most popular area for British purchase of property by far. Holiday homes and rentals abound here - choose from purpose built luxury golf and spa resort properties to small apartments and holiday homes or inland older properties. Portugal's cost of living is still lower than most other EU countries, but it's creeping upwards as are Algarve property prices!

The Armchair Property Investor

Founded in 2005, The Armchair Property Investor (see weblink right) offers an alternative to pensions and share investment, helping clients to generate wealth through property investment both in the UK and overseas. Based in the North West and the Midlands, the company has developed strong relationships with a number of developers throughout the country and overseas and is able to offer unsurpassable investment opportunities along with creative ways of structuring deals so that only minimal investment is required from clients.

Armchair ensure that clients are involved in every part of the process of buying, offering support, guidance, and making the buying process straightforward and easy to understand. There are no hidden charges or extras and no hard sell. Whilst Armchair provide clients with an appraisal of each opportunity, clients are encouraged to conduct their own research into any property they are considering investing in, so they can clearly determine the value of that investment for themselves.

Armchair can also recommend mortgage advisors who will help you to find the best deal to fund your purchase. Clients can register with Armchair as members via their website (linked right), and will then be notified by email of potential property investments.

Armchair recognize that most of their clients lead extremely busy lives and may lack the time and/or expertise necessary to invest in property successfully by themselves. Therefore, their mission is to provide a superior level of personal service enabling clients to create substantial wealth through property investment without it using up their valuable time. For more information see Armchair's website right or telephone 0845 230 5195 or out of office hours mobile 07830 143 785.