About what ppp says? More people than ever are looking... Let us be honest, there are less people willing to invest in properties today of reasons that I should not have to go in to. When it comes to the rental market? How can you compete with the resorts and Hotels, with the packages prices they offer today, including a rental car? So, let us be realstic whit out being to pessimistic. I beleive in the market not only in Algarve but also in other parts of Portugal. Whe it comes to Algarve we might be able to rent if we have the right location, the right property and the right price. There are a few priviligued properties that never see any crises, but that is only the very top of the market and very few properties Quinta Do Lago is the area I think of. There might be other areas or properties that are unique in some ways that might makes some good rental return. The return must be the only issue that is interesting, not how many days you are able to rent it, the fact that it is less people around and more proeprties for rent plus new hotels comming up every year should be clear enough. Please be very carefull to base any budget on rental incomes, if you not already have the clients rady to come and pay the price you ask.
When it comes to the market itself so is it up to us Real Estate Agents to try to affect prices on the projects in the Algarve, it is amazing to see that the prices are based on some kind of "Gold Rush era" or "Merry Christmas spirit". We need to get this forward cause if the projects stays on the prices as they are today, there will be other countries that will steal our clients. Lower the price on projects and offer clients attractive prices in the end that is our way out of this "crise" if I can use that word here?
We will soon drop a "bomb" 200 meters from the Beach in Central Algarve, T2, Underground parking, sea views of course, huge Pool etc for a starting price at 146.500 Euros!!! We will offer this to other agents as well, but first our own clients who will have a first choise.
Good luck in the selling!
|