Housing prices in Algarve are now 12,8% above pre-crisis level

After hitting the lowest point in 2014, the Algarve residential market has been on the rise for over three years now. According to Confidencial Imobiliário, compared to the same period in 2016, property prices in Algarve increased by 17.1% (in the last quarter of 2017) - 12.8% higher than in 2011.

Price pressures continue to build due to lack of supply. According to the Confidencial Imobiliário index, all the Algarve counties registered a recovery compared to 2011.

In the 3rd quarter of 2017, Lagos recorded an average offer price of € 2,500/m2 and €2,000/m2 in Portimão - figures only recorded before the crisis. In fact, from the total of 16 counties in the Algarve, 13 are at historical highs.

Casas do Barlavento believes that this imbalance between supply and demand is leading to price inflation that will soon become unbearable. And, despite this growth trajectory over the past year and a half, February's growth in the rate of sales declined slightly from January.

To overcome this mismatch, in Lagos, the market is already reacting with the offer of new construction. Development companies such as Rodrigues & Vermelho and Miralagos have foreseen this fundamental change and have already started to present off plan apartments:

Rodrigues & Vermelho - Monte Galvão - https://bit.ly/2J10iS3

Miralagos – Adega - https://bit.ly/2H6Oilw