Portugal has long been a destination of choice for many foreigners, who are looking not only for a place to enjoy their holidays, but often for a new place to live. According to data from Engel & Völkers, a real estate consultancy focused on the luxury market, over the last two years the German market has been registering a growing interest in the acquisition of real estate in Portugal, with a particular focus on the Algarve region.
German buyers already represent an average of 15% of the total real estate buyers in the south of the country. Their preferences are mainly for luxury properties, namely detached houses with ample interior and exterior spaces, overlooking the sea or surrounding nature and often close to golf courses.
In the Faro-Tavira area, the German market currently represents 8% of the market. In terms of requirements, German buyers in this location are mainly looking for apartments with large terraces or detached houses that have a more traditional style that are located in the centre of the towns.
In Albufeira-Vilamoura, 15% of the properties transacted have German customers as buyers, and the demand focuses mainly on villas with garden and swimming pool and V3 and V4. The German customer favours privacy and surroundings with nature, preferring low-density areas.
Quinta do Lago
In Quinta do Lago, the German buyer already represents around 25% of demand. Here they prefer charming properties, with very large areas, gardens and sea views. If this last criterion is not possible, it is essential for this type of buyer that the property is located close to beaches and golf courses.
In Portimão, Germans are responsible for 8% of sales, and last January there was a peak that represented 14% of the real estate sales operations by this real estate company. Regarding the type of property preferred in this area, German clients are divided between detached houses with modern interior construction, swimming pool and sea view or traditional farms, located in quiet areas.