We are issuing regular updates to keep clients informed of price reductions, general market information and interesting new properties that have come on to the market.
Market information We are now in the middle of the busiest season in the Algarve, and you only have to go to a popular beach (such as Falesia in Vilamoura) or a renowned entertainment centre (try the Old Town in Albufeira) to realise how many people are here at present.
The property market in the Algarve continues to fluctuate, and there are certain patterns emerging, even in these uncertain times. The over riding pattern we are seeing is that of cautious purchasers, basing their decisions on research and taking their time to reach these decisions. In the short term, this slows down the market. However, in the long term people are buying carefully, building a stable market, and paying reasonable prices for properties that are legally and physically sound. These are all positive factors for the future of the property market in the Algarve.
A fundamental problem at the moment is caused by purchasers who are trying to buy property at unrealistic prices. We have had many purchasers who have made low offers, and have been surprised and disappointed when they are rejected out of hand. Some properties can be sold at a large discount, but as we do not have a large portfolio in the weakest part of the market (generally condominiums), very few of the properties we have for sale will accept very low offers. If you are interested in a property we are selling, then ask us if we think it could fall in to your budget. We always have an idea of what is acceptable to owners, and a little research can avoid any later disappointment (not to mention time wasted viewing properties that are above your budget).
Neither the Euribor (which affects mortgage rates here) or the exchange rate are showing any dramatic changes recently, although Euribor is tending to rise slowly and continuously.
We are finding mortgages being approved, albeit slowly. Our preference is now to always refer a client to one of our preferred mortgage brokers, as we have found that the approval rate is much higher when using a broker.
Other information The new Loulé ring road has finally opened (albeit partially), which will help to move traffic away from the town centre. This is essential at the moment, as the main Avenida is the subject of intense roadworks, to create a pedestrian friendly environment.
White night, one of the best attended events of the summer, will be held on the 28th August this year in Loulé. We sincerely hope the roadworks are complete by then!
This is also the highest risk time of the year for fires. If you are travelling to Portugal during these hot months, please be aware of this and if you do see a fire this can be reported by calling 112.
Price reductions We are still seeing some price reductions, fewer than in past months. The reductions are a mixture of price corrections and reactions to the market conditions.
If the links do not work, please go to property section of the website and search using the reference numbers.
The owners of the following properties will consider offers Spacious 5 bedroom villa with sea views, Santa Barbara de Nexe. Asking price 845.000€. Reference 1025-1099. For full details please click here: http://azul-properties.com/azul-properties/view.asp?ref=1025-1099
New properties We have added the following interesting properties to our portfolio recently:
An office in Vilamoura marina of 69m2, plus a mezzanine. All services are installed, and included in the price. The office space has views of the marina. Please contact us for more details.
Please contact one of our sales staff if you require more information about any of these properties.
Loulé Ring Road opened
3-Aug-2010
The ring road around Loulé was finally opened last week. more
Algarve Bargain Properties
30-June-2010
We are often asked how to find a bargain property in the Algarve. more
Algarve Property Update
24-May-2010
Our property market update for April has now been published, with reduced price and new properties and market commentary. more
Algarve Property
22-Mar-2010
Our February update has now been published, with reduced price and new properties and market commentary. more
Azul Properties Office Move
2-Mar-2010
We have moved and updated our Loule office. more
Algarve Property Update
17-2-2010
Our January update has now been published, with reduced price and new properties and market commentary. more
Algarve Property Market
09-Feb-2010
We have published our commentary regarding the outlook for the Algarve property market during 2010. more
Property Market Report 2009
15-Jan-2010
Our comments and report regarding the Algarve Property Market for 2009 have now been issued. more
Azul Properties on Twitter
25-Jan-2010
We have launched a twitter feed, giving up to date Algarve property information. more
New properties for sale
8-Jan-2010
We have a number of new properties which have been added to our portfolio recently. more
New properties for sale
13-Nov-2009
We have a number of new properties which have been added to our portfolio recently. more
Christmas Holidays
19-Dec-2009
Our office will be closed for Christmas at the following times. more
Reduced price properties
4-Nov-2009
During October 2009 we have some properties available at reduced prices. more
Halloween in Loule
03-Nov-2009
Algarve news: Halloween was celebrated in style in Loule this weekend. more
Properties with reduced prices
14-Oct-2009
We have some properties with prices that have been reduced during September. Our latest property market summary has also been published. more
Get Real Radio
23-Sep-2009
We will be participating in the Algarve FM talk show at 8pm on the 24th September. more
Price reductions-August
09-Sep-09
We have a number of properties with reduced and flexible prices, altered during August. more
Property Exhibition-Utrecht
9-Sep-09
We will be attending the SecondHome exhibition in Utrecht, Holland. more
Price Reductions-July
17-Aug-2009
During the month of July, we have had some property price reductions, and other properties where the owners will consider offers. more
Price Reductions-June
9-July-09
We have some properties with reduced prices, and others with flexible prices. more
Price Reductions-May
15-Jun-2009
During May 2009, the following properties have had their prices reduced. more
Palmeiras Resort
5-Jun-2009
Azul Properties is pleased to announce that a major advance has been made in respect of the prestigious Palmeiras Resort in Tavira. more
Querenca-New land zoning
27-May-2009
The Plano de Pormenor (detailed plan) for Querenca is in public discussion. more
Price Reductions-April
5-May-2009
During April 2009, the following properties have had their prices reduced. more
Price Reductions-March
10-Apr-2009
During March 2009, the following properties have had their prices reduced. more
Price Reductions-January
28-Jan-2009
During January 2009, the following properties have had their prices reduced. more
Land Registry Online
19-Jan-09
The Registo Predial (Land Registry) now has many online services available. more
Energy Certificates
7-Jan-09
As of the 1st January 2009, energy certification (Certificação Energética) must be provided by anyone who is selling or renting a property in Portugal. more
Price Reductions-December
07-Jan-2009
During December 2008, the following properties have had their prices reduced. more
Market Commentary
21-Oct-2008
Our opinion regarding the current market conditions has now been published. more
Christmas Holidays
18-Dec-2008
Our office will close for Christmas holidays on the following days. more
Price reductions-September
21-Oct-2008
During the months of August and September, the following properties have had their prices reduced. more
Capital Gains Tax Update
18-Aug-2008
Algarve news: A new ruling allows for more expenses to be deducted from capital gains. more
Price reductions-May
04-Jun-2008
The following properties have had their prices reduced in the last month. more
Price reductions-June
30-Jun-2008
During the month of June, we have a number of properties whose price has been reduced. more
Price reductions
19-May-2008
We have a number of properties in our portfolio whose prices have been recently reduced. more
Online IMT calculation
27-July-2007
IMT (formerly known as SISA) can now be calculated on our web site. more
Loulé PDM updated
15-Jan-2008
Algarve news: In line with Protal, the PDM for the council of Loulé has now bee revised. more
Prestige Property Website
24-May-07
Our new website, to promote prestige and luxury properties in the Algarve, has been completed. more
Missing girl
22-May-07
A young girl, Madeleine McCann, has been missing since the 3rd May. Please visit www.findmadeleine.com to see if you can help. more
Prestige Property Website
9-Apr-07
We are currently designing a new website, dedicated to the promotion of prestige properties. more
Trespasse Update
26-Jan-2007
We have had a number of queries from clients regarding the recent changes in legislation that affect the trespasse system of ownership. more
18-12-2006
Our office will be closed for Christmas at the following times. more
Property Price Reductions
19-Sep-2006
As we are now entering the time of year when the property market is quieter, we are able to offer a number of properties whose prices have been reduced to increase the chances of a sale in the latter part of this year. more
Business Factsheet
2-Aug-2006
We have released a new factsheet dealing with the intricacies of buying commercial property and starting a business in Portugal. more
Price reductions
25-July-2006
We are able to offer some very good value properties, now reduced in price. more
Mortgage Update
7-July-2006
Many changes have been made to the types of mortgages now available for non-residents. more
Bargain Properties
16-May-2006
We are able to offer two substantial properties whose prices have been reduced for a rapid sale. more
Currency Exchange
16-Apr-2006
We have formed an alliance with Travelex, the world's largest foreign exchange specialist to provide our clients with fast, efficient and cost effective currency exchange solutions. more
New Mortgage Offers
11-Jan-2006
New mortgage products have been launched/revised here in Portugal in January 2006. These loans are available to non-residents, and are designed to appeal to those wanting to invest in property in Portugal. more
A Place in the Sun
6-Jan-2006
Once again, the Channel 4 television programme “A Place in the Sun” has highlighted Portugal as one of the best places in Europe for property investment. more
Website Update
09-Nov-2005
We have updated many areas of our website, adding a number of new items and updated information. more
Mortgages for non-residents
26-Oct-2005
We have expanded the range of mortgages we can offer to non residents, with rates below 3%. more
Christmas Holidays
21-Dec-2005
Our office will be closed for Christmas at the following times. more
All Change!
23-Aug-2005
Azul Properties now operating as an independent Real Estate Agent. more
Market Report Released
29-Apr-2005
Our market report, considering the current status of the property market in the Algarve is now available. more
New furnishing partner
14-Dec-2004
We have negotiated a deal to provide high quality interior solutions for our customers. more
New golf course opens
14-Sep-2004
The Arnold Palmer designed Victoria Golf course has opened in Vilamoura. more
Online IMT calculation
25-Nov-2004
We now have a facility to calculate IMT (SISA) on our website. more
New Regulations
16-Aug-2004
As of the 16th August, a new law is in force requiring all new houses to have a BI (passport). more
New Properties for sale
31-May-2010
We have a number of new properties which have been added to our portfolio recently. more
