Algarve Property - 22-Mar-2010 |
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Market information
The initial optimism that has existed since the start of the year has continued, and it seems that 2010 might become known as "The Reasonable Year" as we are seeing vendors accept reasonable offers, and purchasers starting to have more realistic expectations of what can be bought for their hard earned money. The banks seem to have opened the doors somewhat, and the mortgage market is certainly easier than in recent times.
Market data from some (but not many) European markets is positive, and Portugal was one of the few countries that is showing small, positive signs. (source: Global Property Guide, click here to read the entire article)
For some detailed information about European property markets, please see the RICS report here
The exchange rate (€ to £), has continued to fluctuate, and has now dropped back to 1.10 (source: www.xe.com).
Price reductions
With the feeling that the market is improving, the trend seems to be not to reduce prices. However, now is also a good time to offer discounts to entice purchasers, and one of our clients who has a large portfolio is offering discounts of 20% across all of his properties. Some examples of these are shown below.
2+1 Bed Modern Townhouses, Ferreiras. Reference 1001-1133. Price reduced by 56.000 euros to 224.000 euros. For full details please click here
3 Bedroom New, semi-detached villa close to Vale do Lobo. Reference 1001-0956.
Price reduced by 120.000 euros to 480.000 euros. For full details please click here
Large luxury villa with annex and fabulous views, Loulé. Reference 1001-0948.
Price reduced by 600.000 euros to 2.400.000 euros. For full details please click here
3 Bed new, semi-detached villa, near Vale do Lobo. Reference 1001-0953
Price reduced by 125.000 euros to 500.000 euros. For full details please click here
Plot of 2.080m2 with project approved for a villa and pool, Vilamoura. Reference 1001-1132. Price reduced by 95.000 euros to 380.000 euros. For full details please click here
In addition to these reductions, the owners of the following properties are prepared to consider offers:
Stylish 4 Bed Villa, near Loulé. Reference 1025-1129.
Current asking price 695.000 euros. For full details please click here
4 Bedroom Villa with fabulous country views, Querença. Reference 1009-1100
Current asking price 450.000 euros. For full details please click here
4 Bedroom Traditional Quinta, near Loulé. Reference 1025-0809.
Current asking price 395.000 euros. For full details please click here
New properties
We have added the following interesting properties to our portfolio recently:
Plot for development with 3 ruins, near Loulé. Reference 1001-1129.
Price 275.000€. For full details please click here
3 Bedroom townhouse in the Old Village, Vilamoura. Reference 1001-1125.
Price 310.000€. For full details please click here
Please contact one of our sales staff if you require more information about any of these properties. |
