Real Estate Prices

Viking · Post by **Viking** » Thu Sep 23, 2004 1:37 pm

We´re a Swedish family thinking of buying a villa in or around Carvoeiro,
my wife´s family had a villa just opposite the road of the steps down
to Centianes beach when she was young. I´ve worked a lot in & around
Porto, so we both know and like Portugal rather well. Wouldn´t mind
a house in the North, but you can´t compare the weather to the Algarve.
Then again Algarve is not really Portugal, but.....

Question is, and please be frank, if prices are still going up a lot or if
the market is settling down or which way is it turning?
It would be interesting to have an idea from you guys.

We´re looking for a min. 3 bedroom villa with pool, so it´ll be in that range.

Thanks in advance,

Viking

Gerry Cullen · Post by **Gerry Cullen** » Thu Sep 23, 2004 1:57 pm

Hi....just from the e mails that we still get from some of the estate agents a 3 bed detached with pool and small garden set back a bit from the coast seem to start at about 350,000euro.....in fairness as long as interest rates are low and money is easy to borrow prices sure won,t drop..perhaps you could click on the real estate section of the cvo hone page to get a better idea ...happy hunting.

Viking · Post by **Viking** » Thu Sep 23, 2004 2:21 pm

Thanks Gerry, seen the real estate ads, but these are published
prices I guess and could be either too optimistic or just too low
to attract interest. So I´d thought I´d ask owners direct.

/

Viking

Guest · Post by **Guest** » Fri Sep 24, 2004 11:32 am

I dont think prices are dropping......I was surprised when a new 4 bedroom Bungalow (Only one level) close to the area you mention...but right on the road with no privacy.......just sold a few weeks ago for 540k Euro......Seems awfully expensive to me...Is it Carvoeiro or what...I can buy a similar property 15 mins away for abot 350k...???

Inga · Post by **Inga** » Fri Sep 24, 2004 12:16 pm

Hi,

On contrary to so many home seekers expectations, prices are not dropping. I told to my clients back in June that the prices were had stabilized for a while, but we agents expected a slight rise by the end of the year.
It didn't take that long. After I returned from my holidays in August, I see literally every agency have villas priced at over 1,000,000. Which was an extravagancy still last year.
And the clients don't believe when I'm saying: please, take this 4-bed villa with pool for EUR 500,000, it's a good chance in Carvoeiro!
And yes, Carvoeiro is priced at about +30% in comparison with the same Lagoa or Parchal/Estombar. But those areas are Portuguese. Maybe it'd a good location with your needs for real Portuguese ambience and foreign going out ?

Good luck.