16th January 2024
Algarve Property Survey

The Portuguese Chamber of Commerce in the UK, in collaboration with leading Algarve property developer – ‘DDM’, is delighted to unveil the results of their annual ‘Algarve Property Survey’, which provides insights into the preferences of potential property buyers in the Algarve region. The survey – completed in the autumn/winter of 2023 -sheds light on the top priorities of the UK buyers who are seeking property in this captivating destination.

 

Some key findings highlight that over 92% of respondents strongly agreed or agreed that outdoor spaces, including gardens, swimming pools, and terraces, are paramount when purchasing a property.

 

Moreover, more than 67% strongly preferred detached homes, emphasising the desire to escape the disturbance of neighbours.

 

Additionally, the survey reveals that over 89% of participants highly value a good view, preferring properties overlooking nature or the sea. Notably, 42% of respondents preferred living within five minutes of nearby facilities, including supermarkets, restaurants, and health clinics.

 

Gerry Fagan, Chairman of Reserva da Luz, remarked on these findings, stating, “The similarity between these survey results and our sales trends in 2023 is unmistakable. Last year alone, buyers acquired 14 plots (ranging from 1,450 to 2,950 m²) at Reserva da Luz near Lagos, which has wide ranging ocean views of the Atlantic. Our sales pattern in 2023 demonstrates the escalating demand for personalised villas with panoramic views.”