Property in Western Algarve – a Region for the Quaint Hearted!
Country: Algarve
Unsurprisingly a destination which is consistently favoured in overseas property reports is Portugal, with Algarve property continuing to shine through as a key place to invest your cash. Leading luxury resort development, The Vigia Group recognised the potential of this area over fifteen years ago and now others are beginning to take notice of what opportunities the region offers too.
Long stuck in Spain’s shadow, the region has plenty to boast about. With excellent road connections to principle airports, low cost lifestyle and safe environment; it’s no secret that the Algarve, in particular the west, is an excellent location for second home ownership. The buzz surrounding the West is spreading fast. Already renowned for its golf courses, sandy beaches, big game fishing, sailing and surfing, the opening of the Autódromo Internacional do Algarve - a new Formula 1 racing track in Portimao, is the Algarve’s biggest investment to date, and is expected to bring a further one million tourists every year to the region. This means that there are excellent rental returns on offer for potential investors. Even more excitingly, a brand new airport, situated five minutes away in Alvor is to follow suit. Only a fifteen minute drive, beyond the city of Portimao, you’ll find the stark contrast of the West’s charming Portuguese villages and historical towns, all which bow down to miles of rugged coastline and nestle in picture-postcard countryside, all which is there for the taking! Heading west is the quaint little town of Lagos. With its glistening marina, winding cobbled streets and abundance of places to eat and drink, Lagos really doesn’t disappoint. It exudes the kind of class you can’t manufacture and which you fall in love with as soon as you head towards the centre of the town and you spot the meandering Maia Praia coastline to the right, and historical walls of the old town to the left. Travelling further west from Lagos, along the popular 125N, in the direction of the hippy town - Sagres, there are some real sights to be treasured. It’s of equal distance between these two towns that the Vigia Group owns several luxury villa and village-house resort developments, each boasting its own unique golf or beach location. By heading off the beaten track, down any road or dusty track to the left of this main road, you can reach some of the most dramatic coastline that the Algarve has to offer. These sandy lanes lead to an abundance of glorious beaches, all of various sizes, each flaunting clear turquoise seas and creamy sands. Follow one of these lanes to the old fishing village of Salema where you will find Vigia’s aptly named sister developments - The View and The View II. The View is the latest of Vigia’s contemporary resorts comprising 55 stunning contemporary two and three bedroom luxury village houses with roof terraces and optional jacuzzis. With an estimated completion date of spring 2010, its sibling development next door - The View II is under construction but is to comprise 114 properties. The site of this cliff top sanctuary is naturally tiered so that the majority of homes command spectacular views over the sandy beach, turquoise ocean and Monchique mountains beyond. Combining beach living with modern specification, all of The View’s and View 2’s white washed properties, are finished to a high standard with contemporary products and appliances. The homes boast fully fitted kitchens which include everything you could possibly desire. Owners of properties at The View enjoy the benefits of its heated swimming pool, and onsite bistro, along with access to the sporting and leisure opportunities available at Vigia’s flagship resort, Parque da Floresta - only a two minute drive and centred around an 18 hole, par 71 golf course, with facilities that include flood lit tennis courts, bowling rink, beauty spa, gymnasium, clubhouse, golf academy, Kids club, various bars and restaurants, swimming pools and kids’ clubs! The area surrounding this part of the Algarve is protected. Few developments have had the go ahead from the local camera (council) and those that have, have had to follow stringent building regulations. Only 10% of the land owned by a property developer can be built upon and high rises are scarce with the majority of buildings only two storeys above ground level. If you are looking for a breathtaking beach location, The View is well worth an inspection, and its location which is surrounded by magnificent countryside, yet equidistant between Lagos and Sagres, can’t be beaten! In the near future the Group will also begin work on its sensational marina development, only a two minute drive from Salema village. Boca do Rio is set to be the envy of all Europe. Winding through this magical valley beyond the marina will also be an exceptional 18 hole golf course and clubhouse. Vigia’s high quality, exceptionally constructed properties have never looked more of a sound investment. Celebrities, particularly from the world of football have already grabbed their spots and taken up holiday home residence within the Vigia Group Fold. Vigia owner, Frank Finan comments: “Until you view this magnificent location, then you wouldn’t believe how easy it is to fall in love with. We’re all aware that we have invested in something rather special.” Properties on The View are available to purchase outright from €463,050. Fractional Freehold ownership is also available, which enables you to purchase a fraction of your home, yet benefit from the full rights of freehold ownership. A quarter share of a two bed property can be bought for as little as €180.000. Now, really is the time to invest in the west. There are some fantastic mortgages deals to be taken advantage of in Portugal, that have been especially developed for foreign investors, with still banks lending up to 80% of the property purchase price. If you want to dip your toe in the water, Fractional Ownership is almost definitely a buying option worth considering and the Vigia Group has teamed up with financial experts Moneycorp to develop a 12 month payment plan, which allows you to spread your payments over a full year. If you would like to get in touch with the Vigia Group pr book to book an inspection visit to see the development for yourself, visit their website or call 01223 316 820. Alternatively email them.
Marc Da-Silva
There's also a range of articles for you to read about buying property in Portugal:
As well as our overseas news stories affecting the property market in Algarve .
Or view our range of property for sale in Algarve.
Some information contained within this article may have changed since it was first published. Homes Overseas strongly advises you to seek current legal and financial advise from a qualified professional.
Some properties in Algarve
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Price: €55,000
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Type: Studio
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Bedrooms: 1
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Atelier with approved Project, located in the center of center of the picturesque town of Loulé, approximately 100 meters from the historic.
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Price: €72,000
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Type: Studio
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Bedrooms: 1
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Studio situated in Vilamoura centre. Excellent view. Good investment.
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Price: €77,500
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Type: Apartments
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Bedrooms: 1
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Joao de Ourem 1 Bedroom Apartments for Sale in Portugal
Description
Each apartment has been allocated a parking space in the spacious basement which is accessed via an electric, remote controlled tip-up door.
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Price: €77,500
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Type: Apartments
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Bedrooms: 2
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Joao de Ourem 2 Bedroom Apartments for Sale in Portugal
Description
Each apartment has been allocated a parking space in the spacious basement which is accessed via an electric, remote controlled tip-up door.
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Price: €80,000
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Type: Studio
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Studio situated in a private condominnium with garden, swimming pool and BBQ. In good conditions. Furnished and equipped.
Quiet area near the Falésia beach and Vilamoura Marina
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Price: €81,000
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Type: Studio
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Bedrooms: 1
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Studio totally renovated in very good condition in a central area of Vilamoura.The apartment can also be rented.
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Price: €85,000
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Type: Apartment
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Bedrooms: 1
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Small studio with 32 m2 with hall, lounge, kitchenette, bathroom and a terrace with 16 m2. Furnished and equipped. Posted on communal garden and "club house" being the use of these services pay extra to be agreed.
Great for holidays.220
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Price: €85,000
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Type: Apartment
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Bedrooms: 1
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Studio situated in residential development near Tavira. Transformed in one bedroom apartment, fully furnished and kitchenette equipped. Condominium with swimming pool. Good investment to holidays.
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Price: €85,000
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Type: Studio
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Bedrooms: 1
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Small studio with 32 m2 with hall, lounge, kitchenette, bathroom and a terrace with 16 m2. Furnished and equipped. Posted on communal garden and "club house" being the use of these services pay extra to be agreed.
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Price: €91,000
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Type: Apartment
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Bedrooms: 1
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One bedroom apartment, living room, kitchen and wc. In very good conditions. Furnished and equipped. Car park. Located in a quiet area of Quarteira at 2 min. from the beach. Good investment to holidays.
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