Algarve property expert advises future expats to adhere to a ‘step-by-step approach’ | Travel News | To travel
The British are one of the most important source markets for property in the Algarve resort of Vale do Lobo. British expats move to the Algarve for the prospect of good weather, great amenities and a change in lifestyle.
British expats looking to buy property in the Algarve may be wondering where to start their search.
The days of flying out to take a look every time a suitable property hits the market are long gone.
The Covid pandemic and travel restrictions may have made the prospect of moving to southern Europe a little complicated, but it’s far from impossible.
Pedro Reimão, board member of the beachfront resort Lobo Valley said, “It’s a very step-by-step approach.”
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The luxury Algarve resort more than doubled its property sales last year, proving that potential expats were still actively looking at the height of the pandemic.
Pedro had lots of practical advice for future expats looking for a property abroad.
He said: “First research, then contact someone to help you and finally visit.
“Hopefully” this approach would lead to “selecting and negotiating a deal”.
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Properties in Vale do Lobo are luxury deals and making a decision can take longer when expats are considering “over 2.5 million euros for land with an independent villa”.
Pedro realized that was “a lot of money, of course”, but Vale do Lobo also had apartments on the resale market which can be had for around €500,000.
“Not the typical cheap deal you can get in other southern European destinations.”
He also advised potential buyers not to move just yet.
He said: “Bridge the gap between your current life, still active and still working intensely in your own country with a second home that you can use more and more to adapt to the country and to build your own network.
Do it gradually instead of a big bang, shock, button press approach.