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Algarve Accent

03.08.21

With its temperate climate, stunning beaches and renowned cuisine, it’s no surprise that many overseas buyers invest in a home in the Algarve. Pedro Quintanilha of agents JLL explains why it could be the best move you’ll ever make

Why is JLL opening in the Algarve?
We’ve always wanted an established presence in the Second Home segment in Portugal and this is the perfect place to start, since it’s by far the country’s leading destination for tourism. It not only represents more than 35% of the properties sold to foreigners annually, but it also has more than 100,000 permanent foreign residents.

Is JLL purely focused in the Algarve?
Not at all. We are also working in other upcoming touristic destinations such as Comporta, Tróia and Melides.

How’s the market at present?
It’s less volatile than other locations, because it has a solid base of repeat visitors during the holiday season, including property owners, golfers (all year around) and permanent national and foreign residents. The area also has strong historic growth and planning restrictions also prevent an over-supply, keeping the market stable.

What investment incentives are there?
There are two important initiatives: The Golden Visa Programme and the Non-Habitual Resident Tax Scheme. In addition to these, buyers should also take into consideration the fact that the Algarve has a lower cost of living than many of its competitors.

What’s special about the region?
There are several distinct ‘destinations’ within the Algarve, but all have the unique laidback lifestyle and hospitality of its citizens along with healthy gastronomy, beautiful beaches, natural parks, world heritage monuments and unexplored surfing beaches of the Atlantic Coast. You will also find world-class golf courses, Michelin-starred and traditional sea food restaurants, retail outlets, hotels, marinas, casinos and nightlife.

Does the Algarve have a good health infrastructure in place?
Yes, there are 3 public hospitals and 7 private hospitals.

What type and style of property is available?
It really depends on individual buyers’ aims and aspirations. For example, we have a wide selection of resort-based properties that offer a fixed income over the first few years, ideal if you want a secure investment along with the possibility of spending quality vacation time here. As a contrast, we have a prestigious new development called Encosta, in Praia da Luz, where you can purchase a unique stand-alone villa with amazing sea views. This is the perfect opportunity for anyone seeking that little piece of heaven to live or spend a longer period of time in the Algarve.

Can you tell us more about Encosta?
This highly attractive turnkey, off-plan investment opportunity is located in an unrivalled location in Praia da Luz with beautiful surroundings and views and where building permits are almost impossible to find. Moreover, if you decide to rent, you will be pleasantly surprised at the return on investment, thanks to buoyant rental demand for this type of property.

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