Luís Lima, president of the Portuguese association for real estate agents (APEMIP), recently spoke of a lack of high value property for sale in parts of the Algarve, which could threaten the future of the Government’s Golden Residence Permit Programme: Meravista, the Algarve’s biggest property portal, disagrees.
The Government’s Golden Residence Permit Programme was launched in 2012. One requirement to qualify for a Permit is the investment of €500,000 or more in Portuguese property. So far, a total of 1,649 'Golden Visas' have been issued. Of those, 1,563 were via property investments and 80% of investors were Chinese.
In Luís Lima’s opening speech at the Salão Imobiliário de Portugal conference and exhibition in Lisbon last month, he expressed concern that this successful initiative could be halted by a dearth of properties in the required price bracket and suggested that someone ought to invest in urban regeneration, and fast.
The APEMIP president included Lisbon, Cascais and ‘desirable’ parts of the Algarve in his list of areas where there was a shortage of properties on the market priced in excess of half a million euros.
Algarve property specialist Meravista doesn’t agree that there’s a shortage of high end property for sale in the region’s sought-after locations. Meravista director, Anita van Huson, comments: “A quick search of Meravista’s property map should be reassurance enough that there are many suitable properties for sale - in the Algarve at least.” She explained: “We currently have 3000 properties in our database valued at half a million euros or more and that’s not counting commercial property or plots of land. In Loulé alone, which covers the Golden Triangle resorts of Quinta do Lago and Vale do Lobo, we can offer buyers 1092* exclusive homes.”
Examples of property considered suitable by Meravista for Golden Residence Programme investors include the following:
Luxury living in Lagos
This spacious and immaculately presented four bedroom property on the outskirts of Lagos is on the market for €995,000. It has many stunning features and is close to Boa Vista golf course and all main amenities.
Two for the price of one
This farmhouse-style property, in picturesque Vale Telheiro, comprises two separate houses with an inviting pool in the middle. It’s about 1.5km from the centre of Loulé and a short drive from beaches, golf courses and Faro Airport. A bargain at €590,000.
Haven in the hills
This restored and refurbished home is priced at €850,000. Located in the hills of Vale Formosa, close to Almancil, it’s only 5 minutes’ drive from restaurants and shops, 8 km from beaches, golf courses, Quinta do Lago / Vale do Lobo resorts and 15 km from Faro airport.
Shake hands with the celebrities
It’s all about location. This magnificent new home is in the sought-after Quinta do Lago resort – favoured by celebrities across the globe. It adjoins the Quinta do Lago golf course and has just about everything you could wish for, except maybe the €4.5m price tag!
Ms van Huson continued: “It’s easy for buyers to find property in their preferred area at a price to meet their budget, as well as the golden visa criterion. They simply need to select their price range then zoom in on the map location to view the range of homes available.” She concluded: “As well as property in the better-known coastal resorts, there are many excellent homes priced between €500,000 and €1m in the hills and countryside around popular towns such as Tavira and Silves. That’s the beauty of Meravista, it lets buyers shop around in the comfort of their own living room, whether that living room be in Ireland, France or China.”
For further information contact Anita van Huson anita@meravista.com.
*Based on Meravista’s database of 25063 properties. Correct at 22.10.14
The properties featured in this blog were listed for sale on Meravista at the time of publication, but may have since been sold or removed from the website.
About Meravista
Meravista is the world’s largest property portal devoted exclusively to the Algarve. It brings visitors the latest state-of-the art search technology, making it easy for them to find their perfect property in the Algarve.
Property buyers can search for their retirement Quinta in Tavira, luxury villa in Quinta do Lago, a second home in Lagos or a beachfront apartment in Vilamoura.
They can choose their favourite location on the map, select their desired criteria, and see the Algarve properties that fit the bill:
• View maps, listings and property details at the same time
• Choose from over 15000 Algarve properties
• Compare properties side by side
• Save favourite properties and searches
