ARTICLE

Buying in the Algarve, Portugal

The Algarve's seemingly endless coastline includes some of the world's most beautiful beaches and, with over 3,000 hours of sunshine a year, boasts some of the best weather in Europe.

Over 50,000 Brits live in Portugal full-time and many more own property. In 2006 house prices increased by more than 5%, which was helped by a larger number of properties on offer.

Buying in the Algarve, Portugal

The buyers
Management consultant Gill and solicitor Ian, have lived in their house in Northumberland for two and a half years. They aren't planning to relocate quite yet but want to invest in a place abroad to nip to at weekends, or for family reunions in the summer.

Their three daughters have now moved away from home and one works in the Algarve, close to where Ian and Gill would like to buy. They're looking for a three bedroom house with garden and pool. They have a budget of £500,000 to £600,000. Ian's busy work schedule means he won't be house-hunting with Gill, so best friend Pauline is going to help her find their dream home instead.

Why the Algarve?
To go along with the beaches and sunshine, the Algarve is highly catered for holiday makers with a number of tailored resorts. Vilamoura was built from nothing in 1974 and is one of largest leisure complexes in Europe. It has a 1,000 berth marina surrounded by large hotels, a casino, holiday homes and golf courses, plus two beautiful beaches on its doorstep.

Vale do Lobo is an exclusive private resort just 20 minutes from Faro International Airport, with direct flights from most major European cities. Another top end resort, Quinta do Lago, is a purpose-built golfing resort. Only a short walk from a luxurious shopping mall, there is a strong possibility you'll rub shoulders with the rich and famous as many international celebrities own homes in this area.

Read on for Catherine's tips on buying in Portugal and our essential contact list...

Catherine's tips for buying in Portugal

  • The really expensive part of the Algarve to buy in is the Golden triangle (Val do Lobo, Quinta do Lago and Almancil) - this is the most exclusive area. But don't let it put you off coming out here, if you look in the west in Lagos area or smaller towns in the East then there are cheaper properties to be found.

  • Make sure you get a lawyer who speaks English - very important. And put aside money for fees. The costs include Solicitor and Notary fees, Stamp Duty and Transfer Tax (SISA). This normally amounts to between 10 and 15% of the purchase price.

  • The majority of purchasers come out for the golf. However, not every property comes with a golf title. Do check and if not then put aside a large chunk of money as membership can be pricey, especially at the exclusive Quinta Do Lago club where it currently costs around £80,000 to buy the golf title.

    The estate agents we used
    Inside-Villas Contact: Gwenda Daud Tel: +351 289 399 011
    Lago Real Contact: Nelia Mascarenhas Tel: +351 289 392 240
    Tony Breen Tel: +351 916 258 858
    Manor Park Contact: James Clark Tel: +351 289 391 303

    For a millionaire moment
    Rosario Busch Contact: Natascha Hunt Tel: +351 289 392 284

    Hotels
    Villa Joya Tel: +351 289 591 795
    The Windmill – Os Moinhos Contact: Michelle Tel: +351 963 717 094

    • Related sections: Fantasy Homes By The Sea 2

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