Saturday, 19 August 2017
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Cerro Novo Market Update - Summer 2017We’re Celebrating Another Milestone…. A year ago, we welcomed almost 400 guests to our 35th Anniversary Celebrations here at our head office in Cerro Grande, Albufeira. Friends, Clients and Employees all enjoyed cocktails and canapés on one of warmest evenings of the year; it was a truly lovely event.
Having now celebrated our 36th anniversary, we’re reflecting on what has been another incredible year for Real Estate in the central Algarve and looking at what the next year will hold.

A New Estate Agent Opens Every Week
Anecdotally, a new Estate Agent opens every week in the Algarve with many new agents attracted to the media hype surrounding the ever-growing property market in southern Portugal. Whilst many new shopfronts are appearing, around 50% of new openings are by virtual agents, i.e. those that solely use the internet and social media to promote properties and welcome buyers.

Whilst the online business model works well in more commoditised markets, many purchasers (and sellers) in the Algarve want the certainty of a physical relationship with property professionals and undoubtedly, someone to turn to in the future.

In the last 36 years, we’ve seen boom and decline repeated many times in the local market, but after all these years we still believe that employing a team of Property Consultants gives our Clients the best possible service.

By promoting Cerro Novo in the press, online, social media and at property exhibitions across Europe, will maximise exposure for our Vendors’ properties and help match more buyers to their dream Algarve home.

It’s this combination of skills and exposure that has contributed to one of our most successful seasons ever.

Demand Continues to Outstrip Supply
The market has moved in favour of the Vendor for the first time since the recession. This summer, the market is being driven by French and Nordic Clients taking advantage of the superb Tax Regimes which are still available in Portugal and the return of British purchasers who are remaining resilient against continued Brexit turmoil and FOREX variances.

Very spacious, modern, three bedroom villa with country and coastal views, Terras NovasMany Agents (old and new) are sharing available properties and prices are holding steady or increasing, especially for the right property in the ideal location. Take a look at our Exclusive Collection on our website for Properties you simply won’t find elsewhere. 

Location, Ease of Living and Investment Properties are in High Demand
Homes with great views, Apartments with lovely communal facilities or Rural Quintas with plenty of land will always sell well. 2017 has seen a return in demand for properties which offer plenty of space for permanent living or the ability to part-rent or offer home and income. We are seeing significant increases in demand for properties that when licensed, can provide a lucrative Return on Investment.

There’s no doubt that properties that look ready to move-in are also high in demand. Many properties are selling with furniture included or under separate negotiation and these are perfect for those that are looking for a quick, straightforward transaction enabling occupation in the Autumn.

To help with achieving a greater degree of interest in your home, we’re preparing ’Top Tips to Selling Your Home’ which outlines best practice when thinking of selling. If you would like a copy, drop us your name and email address to marketing@cerronovo.com and we’ll email you a copy as soon as it’s ready.

New Developments are Finally Being Released
After several years of stagnation, new developments are being built and released as we write. New Apartments and Villas offer cutting-edge design with excellent facilities and great eco and acoustic credentials and we’re now able to present centrally located Apartments, Villas and Townhouses across the region. Take a look at this superb new development in central Albufeira.

We’re still recruiting!
We’re still looking for multilingual talent to join our existing team here in Albufeira. If you’re passionate about People and Property, you’ll be welcome here either as a Property Lister or Property Consultant. You’ll be working closely with Clients of all nationalities and budgets, therefore Portuguese, English and French language skills are pre-requisite. Please contact us soon for an informal discussion. +351 289 510 790 or careers@cerronovo.com

Golf - Get in the swing for Autumn
Our Golf Property Experts are matching Golf Properties to Client’s exacting requirements across the whole of Portugal. Autumn sees a return to the fairway for many Golfers and as the market improves, the best properties with prime views sell first. Click to our Find Your Perfect Course locator on our website and one of our team will discuss all available options.
Whilst some are off to the beach, we’re open as usual!

With most of the Iberian Peninsula now on holiday, it seems like all the Algarve is on the beach! Despite temperatures at 30c, we’re working with Clients looking to sell and buy their perfect property. We look forward to hearing from you soon.

Best wishes for the summer!

Robert, Ana and all the team.

Cerro Novo
Address
: Rua Samora Barros, Loja 7 Centro Commercial Cerro Grande 8200-178, Albufeira
Esales@cerronovo.com
T: +351 289 510 790