Over the past few weeks, we've been receiving numerous requests for property searches in and around the Algarve. We have also noticed that the search requests are not in line with the value of the properties available on the market.
Many people are looking for property with a relatively large surface area (150 m2), well located geographically and at prices totally disconnected from the reality of the market. Yes, it's still possible to get a good deal in Portugal, yes, there are still properties available at €100,000 or less, and yes, there are still properties available at €100,000 or less, and yes, there are still properties available at €100,000 or less. no, there are no new or renovated properties for under €100,000 over 100m2 with garage and less than a 10-minute drive from the beach.
The same applies to year-round rentals, where demand is so great that rents are skyrocketing, not to mention landlords who tend to be picky when it comes to choosing a tenant. Especially when it's a foreigner.
Bear in mind that since the mass arrival of French, Belgian and Swiss retirees, not to mention the strong presence of English nationals in southern Portugal, the property market has completely exploded, and today there's no great difference between the French market and that of the Algarve, for example.
Is it still possible to get a good deal?
The answer is YES, it's still possible in 2017 to get a good deal in Portugal, but to do so you'll need to be patient, very patient, and willing to pay one visit after another. You'll also have to lower some of your expectations, or agree to do some work, even heavy work, or revise your budget upwards.