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Portugal - Algarve

N

NC83

New Member
Hi all I am new to this forum. I am thinking of buying a holiday let in Vilamoura or Albufeira and out here looking at a few places at the moment.

Does anyone have experience buying here? Would you buy in Vilamoura or Albufeira? I am looking to rent out the property to holiday makers and then use for own use in the off season so not sure which area is best. Also slightly concerned how Brexit will affect the English population here.

Any feedback would be greatly appreciated!!!!
 
T

totallyproperty

Administrator
Staff member
Welcome to the forum :)

Do you know the areas quite well? I think you need to carry out some thorough due diligence by speaking to local Spanish estate agents, doing online research, and seeking out relevant UK professionals. I would start with the following:

• Look on AirBnb and holiday let websites to see how many holiday rentals are available in those areas and what sort of prices they are asking.
• Find out where the main tour operators have hotels in those areas (as usually, they would be in or near the most popular tourist places.
• Consider how far you would want a property to be from an airport. Keeping any transfers under an hour would attract more holidaymakers and help you refine your search area.
• You need to find the balance of looking for a property that you would want to own and holiday in yourself, with finding one that will appeal to holidaymakers. Eg. you might fancy somewhere away from the busy crowds, but being too remote would likely put holidaymakers off.
• Identify who your ideal holiday tenant would be? Couples, families, retired couples? What features would attract each audience to a property / area? Eg. nightlife, safe beaches, traditional old towns, etc.
• Look into the local property market (in terms of house price growth) and speak to local Spanish agents to find out how long it's taking to sell houses, what the demand is like, what tousirm is like in that area.
• Join Expat groups on social media (Linkedin and Facebook) to speak to people who have 'been there and done that'. They will have invaluable insight.

A member of our team @Veronica lives in Cyprus and might be able to help with finding the right property overseas.

Are there any specific areas you are stuck on at the moment? Do you have your financing in place? Is it more the location that you're struggling with?

Please keep us updated on your journey :)

Kelly
 
Veronica

Veronica

Administrator
A member of our team @Veronica lives in Cyprus and might be able to help with finding the right property overseas.
I am not in Cyprus any longer. We relocated to France a year ago, Couldn.t take the oppressive heat anymore
 
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