Albufeira Apartments

Because Albufeira is such a popular resort, there is a large selection of apartments to choose from spanning a wide price range. As a rough guide, you can expect to pay anything between €125,000-€220,000 for a one bedroom apartment in a secure complex with its own swimming pool which has a company carrying out cleaning, maintenance and gardening.

You will be asked to pay a monthly maintenance charge to cover the cost of these services. Obviously location is the most important thing when buying any property at home or abroad, and if you opt for an apartment on the beach or overlooking the marina then the cost will rise considerably, but so will the rental potential and income.

As a rule, the two bedroom, two bathroom apartments are the most popular with holidaymakers.

Investment potential is good in the Algarve as its temperate climate makes it a popular holiday destination all year round, especially in Albufeira which has the added bonus of excellent golf courses.

You have the option to buy a resale property or one off plan. The advantages of buying an apartment off plan is that for an outlay of between 30% and 40% of the purchase price you secure a property which will be worth much more when it is built.

If you buy a resale property you will be asked to put down a deposit when the sale is agreed which will ensure it is taken off the market. The purchase process is in Portugal is quick and it is not unusual for you to complete on the property within four weeks of making the decision to buy it.

There are numerous estate agents in Albufeira which excellent local knowledge who will be pleased to advise and guide you through the buying process.