Updated: February 21, 2024

 

One of the true gems of Portugal can be found in the southwest region of Lagos. In all the Algarve region, Lagos is one of the most impressive areas. Think outrageous ocean views, magnificent beaches, and incredible properties, and you won’t be far off. In this article, Lagos, Portugal Land for Sale, we’re going to delve into why this part of Portugal could be the perfect place to snap up land, plus we’ll provide you with information on regulations and tips on how to find land for sale in this outstanding part of the country.

Why choose Lagos?

lagos portugal real estate The real selling point of Lagos is the sweeping ocean views, arguably the best in the country. Combined with the sublime climate – more than 300 days of sunshine per year – and the high quality of life, and you’ll quickly realize why Lagos could be an excellent part of Portugal to secure property or invest in land.

With two acclaimed golf courses, Boavista Golf and Spa and Palmares Ocean Living and Golf, golf enthusiasts will have all they could desire close to home. There are also incredible beaches here. Two excellent choices that come to mind are Praia do Porto de Mós and Praia da Luz. Note that property prices in the golf resorts and close to these beaches, with stunning ocean views, will be higher than in other areas. Indeed, the spectacular scenery and splendid ocean views have led to many wealthy individuals setting up shop in Lagos, with many luxury properties and (modern new construction) up for grabs.

With this said, now is an excellent time to purchase property in this part of the Algarve region. The real estate market in Lagos, as with the rest of the country, has been moving from strength to strength in recent years and looks set to continue this trajectory. Investing in the area now, for example, with land can be a great investment opportunity, particularly as buying land is much more affordable than purchasing a new build.

You can find out more about what this beautiful part of the country has to offer in our article: Portugal Lagos Real Estate: Embrace the Coastal Lifestyle.

Where is Lagos located?

Lagos, Portugal, is located in the southwestern part of the country in the much-loved Algarve region, to the west of Sagres and to the east of Portimão. It is one of the most elevated parts of the Algarve and is known for its picturesque beaches, unique landforms, historic sites, and charming old town. Lagos is a popular tourist destination, attracting visitors with its natural beauty and cultural attractions.

Real Estate Market in Lagos

Real estate investors from across the world have been focusing on Lagos, and the wider Algarve region, for many years. The average price for a property in Lagos in 2023 was €4,476 per square meter. As mentioned, luxury property, plus property in sought-after resorts, will cost much more than this.

Bear in mind that the values provided above represent asking prices, and actual property sales prices may significantly differ, as sellers often aim to sell their properties by a specific date and might be influenced by various factors. Additionally, it’s important to consider that the actual price could also be higher, although this is not as common.

When it comes to plots of land, to give you some idea of how much you may pay in Porto de Mós, a village in the central Lagos area, the sales price is €342,661 (€562 per square meter), and the fair market price is €368,453 (€604 per square meter).

 

Should I buy land or a new build in Lagos?

Whether you are looking to secure a new build or buy land will completely depend on your personal situation. While a new build is ready to move into, if you buy land, it usually takes at least three years for the project to be completed, depending, of course, on the type of construction. And, be prepared, there can often be setbacks that can delay the process. You will want to determine when you would like to move into the property.

Construction costs will also cost you, but will typically cost between €2,000 to €2,500 per square meter, again cheaper than buying a new build. When compared with costs in other Western European countries, prices are also attractive to buyers.

Building your own property from scratch presents its challenges, but the payoff lies in the level of personalization that surpasses any other option – you can basically build your dream home. If you are looking for the cheapest land to buy in Lagos, make sure to check areas that are not close to the coast. Expensive land will be located close to the ocean.

What are the benefits of buying land in Lagos, Portugal?

Ideal location and stunning natural beauty

As we’ve mentioned, Lagos, Portugal, offers some of the most spectacular waterfront views in Portugal, and you’ll be surrounded by mesmerizing landscapes, pristine beaches, and dramatic cliffs. This natural beauty makes it an appealing destination for tourists, ensuring high demand for properties and potential appreciation in Lagos land value over time.

Potential for a strong return on your investment

The growing popularity of Lagos as a tourist and expat destination guarantees a strong market for real estate. Also, Lagos is an upcoming destination for full-time residents because of the infrastructure and lifestyle it provides. Whether its summer or winter, in Lagos you are set to have an amazing experience.

Investing in Lagos land can provide substantial returns on your investment through property development, rentals, or resale, especially in areas with high demand and limited supply.

Favorable climate

Lagos enjoys a Mediterranean climate, with mild winters and long, sunny summers. As we mentioned, you can enjoy 300 days of sunshine per year. This pleasant weather attracts visitors throughout the year, driving consistent demand for properties and making it an ideal location for both personal use and as an investment.

lifestyle opportunities

Buying Lagos land opens up a plethora of lifestyle options. Residents and visitors can indulge in a variety of water sports, including surfing and sailing, or enjoy world-class golf courses. The town’s rich history and culture provide opportunities for exploration, and you’ll find many expats to build a circle of friends here. And, if you prefer to just sit back, relax, and take in the sunshine, you have a range of fabulous beaches to choose from. The gastronomy of Lagos is also fantastic, with a Mediterranean diet based on fresh seafood and local produce.

Types of Land Available for Sale in Lagos, Portugal

If you’re considering buying land for sale in Lagos, you can choose to buy a plot to build a house to live in. Also, if you are interested in buying to build a commercial property or touristic property, this is also an option – and could be a lucrative investment in the long term. You’ll also be able to buy to start an agricultural project. The region is renowned for its excellent climate, making it a favorite to grow local produce, including vineyards.

Land to build a house to live in

Land to build commercial or tourist property

Land to for agricultural projects

Regulations and Restrictions on Land Ownership in Lagos, Portugal

Can foreigners buy land in Lagos?

Yes, foreigners can buy land in Lagos. You will find that you have the same rights to buy property and land in Lagos as a local would. If you are looking to move to Portugal, and live in the property, then you will need to ensure that you have legal residence in the country.

You can find out more in this article: How to Get Portuguese Residency.

Zoning and land use regulations

Lagos has zoning and land use regulations in place to control development and maintain urban planning. These regulations govern the types of buildings, activities, and land use permitted in different areas. Compliance with these rules is essential when considering any land development or purchase.

Environmental considerations

Due to its coastal location and natural beauty, Lagos places a strong emphasis on environmental conservation. Prospective land buyers must be aware of potential environmental restrictions, especially regarding properties close to protected areas, coastal zones, or those with sensitive ecosystems. You may need to secure a permit before conducting development, so it is worth speaking with an expert in the field about this before buying.

Reselling Land in Lagos, Portugal

Market trends and potential for appreciation

Lagos, Portugal, experiences steady appreciation due to its tourist appeal and continually increasing popularity with expats. Rental yields in the Algarve stood at 5.6 percent, and the region, and Lagos in particular, will continue to be a much sought-after tourist stop. The limited supply of land and economic stability further contribute to positive market trends and appreciation potential.

Factors affecting land resale value

Several factors impact land resale value in the region. Key determinants include location and proximity to amenities and attractions, zoning and land use regulations, market demand, development potential, access to infrastructure, and environmental considerations, all of which influence the property’s overall desirability and value.

How to find land for sale in Lagos, Portugal

The easiest way to find land for sale in Lagos is through working with real estate professionals in the market. They will be able to provide you with key insights, such as if there are any zones where you cannot buy land and they will be able to give you accurate price estimations.

Online real estate platforms

The real estate market is fragmented when it comes to online platforms, and there is not one place to find all the listings available. Buyer’s agents typically have access to new listings and properties that you will not find elsewhere on the market. Nonetheless, online real estate platforms can be a good place to start your property search and to get an overview of the property market.

Local real estate agencies and buyer’s agents

Real estate agents in Lagos will be able to help you with the buy, making the land buying process easier. However, note an important difference between real estate agents and buyer’s agents. In Portugal, real estate agents work on behalf of the seller and will get a higher commission for a higher sale. In contrast, a buyer’s agent works solely on behalf of the client, ensuring that they get the best deal possible.

Goldcrest: How We Can Help You

Goldcrest is a buyer’s agent that is based in Lisbon. We provide expert, impartial advice on real estate investments and how to buy property in Portugal. From scouting out the perfect property through to property acquisition, we have you covered throughout the process.

If you are looking to purchase property in Portugal, don’t hesitate to get in touch. Our team of skilled experts is available to solve all your real estate doubts, helping you with the property search and offering insightful expertise and strategic advice.

Why choose Goldcrest?

  • Local knowledge: With offices located across Portugal, our presence nationwide allows us to assist you personally across the country.
  • Independent service: As an independent buying agent, we do not represent any development or project. Our service is entirely tailored toward each individual client, providing you with everything you need to secure the perfect property at the best possible price. As an impartial advisor on the market, we work solely on behalf of our client and provide a service tailored to your needs and requirements.
  • Streamlined process: Our real estate agents speak English and Portuguese, and our service is completely focused on providing you with a hassle-free buying experience, saving you time.
  • Experienced team: Our expert real estate team has a vast local knowledge of the Portuguese property market. We have cutting-edge technology and metasearch tools at your disposal to provide full market coverage, ensuring the best investment choices and negotiated prices.
  • Network of partners: Lawyers, property management services, builders, architects, designers, and landscape gardeners, again saving you time and hassle by providing you with trusted experts in their field of work.
  • Member of the AIPP (Association of International Property Professionals), delivering company best practices and upholding professional values.

Frequently Asked Questions about Land for Sale in Lagos Portugal

What types of land is for sale in Lagos, Portugal?

You’ll find various types of land in Lagos where you can begin construction on residential, commercial, touristic, or agricultural projects. More expensive land will be located close to the ocean. In all the Algarve region, you’ll find land for sale, often at very reasonable prices, particularly if you buy away from the coast. What could be better than building your dream home from scratch? With reasonable prices, it is certainly possible in the Algarve region.

Buying land in Lagos allows you to build your dream home. You’ll find Lagos, Portugal land for sale, can be a lucrative investment, where you can secure a strong return on your investment through renting out your property or resale.

When it comes to plots of land, to give you some idea of how much you may pay, the sales price for Porto de Mós, a village in central Lagos, is €562 per square meter and the fair market price is €604 per square meter.

In contrast, the average asking price for a property in Lagos in 2023 was €4,476 per square meter.

Yes, foreigners can buy land in Lagos and will face no restrictions. If you are looking to live in your dream home in Portugal, you will need to ensure you have a valid residence permit.

The buying process is as follows:

  • Step 1. Decide whether you’d like to take out a mortgage to finance your property.
  • Step 2. Find the perfect Portugal property
  • Step 3. Negotiation and Reservation Agreement
  • Step 4. Promissory Contract (CPCV)
  • Step 5. Sign the Escritura (Final Deed)

Costs to consider when buying a property in Portugal include property taxes, Stamp Duty, Notary fees, legal expenses, and land registration fees.

Consider factors like location, accessibility, zoning regulations, and potential for development before buying land in Lagos, Portugal, to build your dream home. Speaking with a real estate professional will be able to help you with the buy.

More expensive land will be located close to the ocean, while cheaper bare land will be located in more interior areas.

Yes, you can build a property on land in Lagos and in all the Algarve region, providing it is within land zoning and local building regulations.

Yes, be aware of legal title deeds, urban planning rules, and potential environmental considerations when buying land or property in Lagos. It is important to speak with real estate professionals and have a good property lawyer to avoid any issues on this front.

To ensure the legitimacy and authenticity of land for sale in Lagos, always work with reputable real estate agents or agencies with a proven track record. Working with a lawyer is essential to review documents and conduct due diligence.

Yes, there are many banks that provide mortgages for foreigners in Portugal. You will want to decide which offers the best deal for you and start the process as early as possible to secure financing for the land. Whether you are looking to build a secured estate or villa, you’ll have financing options open to you.

The local municipality or town hall may have zoning regulations that must be adhered to, such as in protecting certain areas of ecological interest. Be sure to determine that you will be able to build on the land before buying.

The real estate market is fragmented when it comes to online platforms, and there is not one place to find all the listings available. While websites can be a good place to start to get an overview of the market, working with a buyer’s agent can be a wise choice. Buyer’s agents typically have access to new listings and properties that you will not find elsewhere on the market.

If you are looking for the cheapest land to buy in Lagos, make sure to check areas that are not close to the coast or in popular locations. Expensive land will be located close to the ocean.