Algarve Real Estate
Algarve Real Estate is different to Real Estate in other parts of Europe. Some of the differences are: The Algarve/Portugal has the highest rate of rural population in Western Europe, meaning, that more or less a third of the Portuguese people live on farms or in country properties located outside the urban areas.
Property differences Algarve
The range of different properties found in urban and rural areas makes Algarve Real Estate interesting for property investors and private buyers alike. Another characteristic is that most of the urban population actually live in suburbs. The metropolitan areas of Faro, Loule and Portimao are perfect examples. Each have more people living there than in the actual cities themselves. In these areas, families live in apartment blocks, each apartment usually having two bedrooms, a living room, a kitchen and one or two bathrooms.
Most Algarve Real Estate has been built since the 1970s, and especially since the turn of the millennium. This caused historical areas in the Algarve such as Silves, Lagos, Portimao and Faro as well as Porto to become depopulated, though the younger generations now have a growing interest on buying and repairing Algarve Real Estate such as these old buildings.
Algarve traditional architecture is quite similar to others of the Mediterranean, and whether a traditional country house or a suburban apartment bloc, Algarve Real estate does look similar to that of Italy or Spain.
Algarve Architecture
Another strange, but somewhat common sight in the Algarve/Portugal, is the Swiss-like chalets, built by Portuguese people who lived in Switzerland or Germany. However, in recent years, traditional architecture is more popular and more in line with the typical and traditional Algarve Real Estate.
Algarve Residents
Over two thirds of all Algarve Real Estate is owned by the resident. The Algarve areas however have a high percentage of rental properties, due to the tourism and also the large influx of British, Irish, Dutch, German and French residents.
Portuguese in the Algarve
It is quite interesting, that the number of Algarve Real Estate is greater than the number of people actually living in the Algarve.
Half of the Portuguese families own a country or holiday home in the Algarve. That again benefits the overall Algarve Real Estate market.
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