The past two years have served greatly in restoring buyer confidence in the market and even more so for sellers. Some property sellers saw their investments double in value, while in the meantime profiting from the house itself or from rental yields.
All in all, in certain luxury markets, real estate has continued to deliver on stable and predicted results, proving its safe haven value. Despite high profitability, low risk, and volatility, some of the diﬃculties presented by the market could remain for most of the first semester of 2023. The lack of properties available and high demand levels will remain, which consequently will keep impacting property pricing. The sentiment seems to be consonant with colleagues in other luxury markets. Properties in the lower range of the pricing spectrum, circa €900k to €4ML, could continue to increase in value, whereas the higher end of the market should present properties stabilising in listing value, which has already been reflected in the last quarter of 2022. Similarly, some of the trends felt post-pandemic have persisted. High Net Worth Individuals (HNWIs) are still looking for their chance to get away from busy city lives or finding an investment where there are sunshine 300+ days of the year.
Property buyers are looking for serenity in their lives and in their investments. Comparably, a great boom has been felt in the market regarding the acquisition of real estate for the Golden Visa status. Despite changes in regulations in 2022, investments in what are classified as “Touristic Property” have presented as a fantastic gateway to freely travel in Europe as well as the guarantee of a safe and profitable investment.
This stunning and unique corner of the earth, that is the Golden Triangle, has valued immensely since its very beginning, almost half a century ago. Shaped not only by those who directed and drove the vision forward to cater to this niche market but also by clients and tourists alike who recurrently choose the Algarve as their destination. This is one of the great motives, why interest in moving or investing in the Golden Triangle has hugely increased and will remain a safe bet.
After almost 40 years in the luxury real estate business of the Algarve, I am extremely proud of the immense eﬀort put forward by everyone in the area, in showcasing a truly special region, that I have shared with many clients to this day and hope to share with many more in the future.
For further information please call +351 289 143 940 or +351 912 287 989. Alternatively visit www.oneselectproperties.com or email firstname.lastname@example.org
2023: ONE Select Properties' First Semester Forecast
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