If you’re looking for a European getaway with sunny weather, the Portuguese city of Algarve is a great option for your golden visa.
And, if you’re looking to invest in real estate, the Algarve market is currently booming in tourism.
Thanks to the Portuguese Golden Visa program, which offers residency permits to non-EU citizens who buy property in Portugal worth at least €280,000, there has been an influx of buyers from China, Russia, and South Africa.
This has helped to drive up prices in the Algarve real estate market.
Algarve tourism is on the rise as more and more travelers discover this beautiful region of Portugal.
With its stunning beaches, friendly locals, and great food, it’s no wonder that the Algarve is becoming a popular tourist destination.
Here are some of the best things to do in the Algarve:
- Visit one of the many beaches – whether you’re looking for a quiet spot to relax or a lively beach with plenty of activities, you’ll find it in the Algarve.
- Go for a hike or bike ride in one of the many scenic parks and nature reserves.
- Sample the delicious food – from fresh seafood to traditional Portuguese dishes, there’s something for everyone to enjoy in the Algarve.
Why invest in Algarve real estate?
One of the main reasons to invest in Algarve real estate for golden visa is tourism. Every year, millions of tourists visit Portugal, many of whom choose to stay in the Algarve region.
This means a big demand for vacation rentals can offer you a great return on investment.
According to Regional tourism authorities, referring to the 2019 data from the National Statistics Institute, there were 5.06 million tourists that visited the Algarve, which generated 1.2 billion in tourism revenue for the region.
For that reason, properties in this region tend to have higher values than other parts of Portugal.
Check our portfolio with exclusive property investment options for the Algarve.
Purchasing a property in Portugal
Even though there were some changes in rules in January 2022, getting your Portuguese golden visa through real estate investment is still possible.
Here’s an easy step-by-step to buy property in Portugal.
Rental income and growth potential
One type of real estate investment that is often overlooked is commercial property.
Commercial properties can be a great investment for several reasons.
First, commercial properties are much more stable than other real estate types.
Businesses are generally more consistent in their needs than individuals, so they are less likely to default on their leases.
Second, commercial properties can provide a higher return on investment than other types of property.
This is because businesses are typically willing to pay more for space that meets their needs and because there is often less competition for these properties.
Finally, investing in commercial properties can be a great way to diversify your portfolio.
They tend to perform differently than other types of investments, so they can help balance out your overall risk.
In short, Algarve real estate is a great investment. With its stunning scenery, world-class amenities, and close proximity to Europe, it’s no wonder the region is becoming increasingly popular with international buyers.
If you’re considering purchasing a property in Algarve, now is a great time to do so.
Contact a consultant today and start your search for the perfect property in this beautiful part of the world.