REALESTATE ALGARVE INFO

www.realestate-algarve.info is a free informative web site offered to you by Robert M.L. Snapper, Director of Ricola Algarvia Med. Imob. Ldª a long established estate agency based in Lagos www.realestate-algarve.com

The object of this web site is to give people interested in purchasing or selling a property in Portugal a better inside view of what is involved in buying ,selling and living here. Obviously this site can also be useful for those who have taken this step already.
I have tried by writing articles in various languages (English, Dutch and Portuguese) combined by collecting articles published in other papers or magazines divided into categories to guide you through sometimes unknown and complicated burocratic and legal matters.

Introduction:
Buying a property is quite a big step and most of the times it will be the biggest purchase you ever make in your life. Already quite a challenge at home, even a bigger venture in Portugal, a country you most of the time don’t know well enough, neither do you speak the language or are you familiar with procedures and habits in this country. Sound advice and good information is to my opinion of vital importance before you reach a hopefully positive and well weighted decision to come and live in this beautiful country.

Without doubt I can say that the property market during the 30+ years I have been living here has seen a very healthy growth and has been a sound investment. After the revolution in 1974 property prices were very cheap and there was hardly any interest in purchasing properties. The eighties saw a great increase in interest after which we had some bleak years between 1990-1996. After that we had a property boom in building and selling. At the moment of writing-revising this article (October 2008) we can say that property prices stablished the last year and at the moment we are in the middle of as it seems the biggest economic crises for decades. Nobody knows where this will end. However it seems clear to me that this crises will have a (negative) effect on property prices for some years to come. My estimation is that property prices may drop 10-20% and that it will take longer to sell properties. In all countries we see already a drop in sales volumes and prices and many estate agents world wide will have to close their doors.

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