Updated: August 14, 2023
One of the real gems of the Algarve region, Lagos is not to be missed and keeps visitors coming back for more year after year. With unique rock formations, long sandy beaches, and luxury properties, why not dive into the Lagos real estate market and take a permanent vacation amongst the sea and the sun?
In this article, we’ll run over what makes Portugal Lagos real estate so attractive, both for homebuyers and incoming investors. Following this, we’ll provide insights into the types of houses for sale in Lagos, Portugal, what it is like to live in Lagos, and practical information that should prove useful for you.
Our article here provides you with everything that you will need to know about buying property in Portugal. Alongside this, our guide on finding a property in Portugal could also prove to be helpful for you.
Portugal Lagos Real Estate: Why Lagos?
As one of the most visited areas in Portugal, Lagos, in the Western Algarve, has it all. From turquoise waters and top-quality beach resorts to an incredible cuisine – including a mix of fine dining restaurants and family-owned restaurants – Lagos ticks all the boxes.
The most populous areas in Lagos are by the coast, where locals are primarily involved in the tourism and services sectors. Further inland, you can bask in the peace and quiet of the region. Here, agriculture and forestry remain the main focus of work for the locals, although you will be able to find properties in very calm areas without the footfall of tourists.
Even in the main coastal areas, however, Lagos has not succumbed to mass tourism. The city retains its character and charm with cobbled streets and a welcoming atmosphere. With plenty of things to do, and a sublime climate, you will always be kept busy. However, if you prefer to simply sit back in blissful relaxation, Lagos can certainly cater to this need too.
When buying property in this part of Portugal, it is worth having a real estate agent in Lagos to assist you with the buy.
Why Invest in Portugal Lagos Real Estate?
Lagos, in the Western Algarve, has long been a firm favorite with expats, tourists, and investors. In 2022, the average price for a villa was €4,171 per square meter, while the average price for an apartment was €3,659 per square meter. Note that these are asking prices, and the sales price is often lower than this. While Lagos tends to be one of the higher-priced areas in the Algarve, in comparison to its European neighbors, you can find that the average price for properties is usually quite reasonable.
As a well-connected region with excellent services, amenities, and beautiful landscapes, Lagos certainly has expensive areas to invest in, yet this hasn’t stopped a steady flock of people from snapping up properties here. What’s more, Lagos real estate is very favorable for investors as the region is a tourist honeypot. Investors looking for short term rentals should have no problems with finding tenants, plus long term rentals are also an option if you are looking to rent your property out on a longer term basis. Yields in Lagos stood at 4.48 percent, highlighting that the region is a profitable investment.
When it comes to Portugal as a whole, the country is one of the safest countries in the world, ranking sixth in the 2022 Global Peace Index. There are also certain planning permissions in Portugal whereby the government seeks to preserve the country’s natural beauty. This is an attractive quality for homebuyers and investors alike.
Lagos Portugal Property for Sale: Types of Lagos Real Estate
You can find many different property types in the Algarve, and Lagos is no different. You will find beach houses, villas, and apartments for sale in Lagos, plus many more. You can also come across luxury homes, where you can have your own private swimming pool, rooftop terrace, gym, and private security. Because of this, many celebrities have come to call the Algarve home – indeed, this taste of luxury with sweeping views of the Atlantic could well be one of the finest combinations out there.
Lagos is sandwiched between the central Algarve, where you have the “Golden Triangle” of luxury properties, and Sagres, where you can experience the rugged beauty of nature. Perfectly positioned between the two, Lagos offers excellence – whether it’s the unique landscapes, incredible cuisine, or if you simply want to wake up with a morning coffee and watch the glimmering ocean from your beach house.
Here, we’ll provide you with some practical information on Lagos. We’ll delve into the perks of the region, the lifestyle, and insider tips and tricks.
History of Lagos
Lagos has a rich history, dating back 2,000 years. Lagos was the early home of the Carthaginians, who recruited Celtic tribesmen in their conflicts against the Romans in the Punic Wars. The name “Lagos” is derived from a Celtic settlement.
From the Romans to the Visigoths, to the Byzantines, and then to the Moors, Lagos has changed hands (and names) over the years. Although the old Portuguese town was much destroyed by the earthquake and tsunami of 1755, Lagos still retains its historic character and endless charm.
Lifestyle in Lagos
It is extremely easy to stay active in Lagos. With more than 300 days of sunshine per day and beautiful landscapes, just heading out your door and going for a walk is a pleasure. You will be able to meet fellow expats at a range of activities. This ranges from golf to yoga, watersports to cooking classes – indeed, the list of things to do goes on and on.
Watersports in Lagos are very popular. With yachts to head out onto the sea, very good surf spot locations, and where you can weave in and out of the unique cave and rock formations in a kayak, for watersports enthusiasts, there is no greater place than Lagos. For keen golfers, you will be pleased to know that there are several top golf spots.
Lagos offers many tourist attractions, such as boat tours, beautiful beaches, and many top restaurants. Nonetheless, the city is not as busy as the popular resorts of the central Algarve, such as Albufeira or Portimão.
Lagos also has very good seafood and fish specialties. Living in the area, you will quickly become well-accustomed to brilliant produce. From the sweet Algarve oranges to the crisp white wines, the food and wine in the region are incredible. You also have many exceptional fine dining restaurants where you can enjoy sublime food with perfect views of the ocean.
Climate in Lagos
Lagos experiences very warm summers and mild winters. It is common to have 12 hours of sun in the summer months and temperatures of 37 Degrees C (98 Degrees F). The temperature rarely drops below 6 Degrees C (44°Degrees F ) in winter.
Beaches in Lagos
One of the main reasons why tourists flock to Lagos, and foreigners buy property here, is due to the region’s stunning beaches. There is the 4km long Meia Praia, the gorgeous Praia de Porto Mós, and the picturesque Praia de Dona Ana. Also, you have Praia do Camilo, situated among truncated cliffs, where you have to walk down 200 steps to be blessed with the beautiful beach below.
However, it’s not just about the renowned beaches in Lagos. You also have beautiful landscapes, such as the iconic Ponte de Piede Cliffs and the Bengali Caves.
Goldcrest: Who We Are and How We Can Help You
Goldcrest is a buyer’s agent that is based in Lisbon and the Algarve. We provide expert, impartial advice on real estate investments and how to buy property in Portugal, whether you are looking for a beach house on the Algarve coast with a swimming pool or are villa close to Lisbon. 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, offering insightful expertise and strategic advice.
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Frequently Asked Questions About Portugal Lagos Real Estate:
Is Portugal Lagos real estate a good investment?
Yes, as a popular tourist destination, Lagos is a good investment hub with a high potential for strong returns. Finding homes and apartments for sale in Lagos should not be too difficult, and the area has a vibrant real estate market. If you are looking for rental investment properties, you should get a nice return on your investment.
If you are considering commercial properties, you will also find many options available. Commercial properties include hotel projects, serviced apartments, and resorts.
Is Lagos a good place for retirees?
Yes, you will be able to find both luxurious and cheap property for sale in Lagos, situated in the Western Algarve. Many of the properties also come with their own swimming pool. There are ample activities to meet fellow expats, a strong healthcare infrastructure where English is widely spoken, and many beautiful properties. In all the Algarve region, there are many excellent golf courses, so keen golfers will be able to get their golfing fix.
Is it easy for foreigners to buy a property in Portugal?
Yes, it is relatively straightforward for foreigners to purchase property in Portugal. We recommend working with an experienced professional when house hunting in Lagos. Note that if you are looking to live permanently in Portugal, you may need a visa to stay in the country. See our article on securing residency here.
Is Lagos Portugal a good place to live?
Yes, Lagos, in the Western Algarve, is an excellent place to live. Lagos has some of the Algarve’s most beautiful beaches, a fascinating history, a vibrant café and nightlife culture, and an abundance of scenic natural areas. Whatever your interests, you’ll never be short on things to do. The best attractions and activities are easily accessible and reasonably priced in Lagos.
Is it cheap to live in Lagos Portugal?
According to Numbeo, a family of four is expected to spend €2,547 each month without rent in Lagos; meanwhile, a single person’s expected monthly expenses in total are €719 without rent. In all the Algarve region, you should find the cost of living to be quite affordable compared to other seaside areas in other Western European countries. Obviously, if you have your own swimming pool or private gym, this will increase the costs.
What is the real estate market like in Lagos, Portugal?
The real estate market in Lagos in the Western Algarve, as with many places and Portugal, has moved from strength to strength. While property prices in Lagos are on the higher end of the spectrum, if you are considering renting out property, you’ll find rental yields to be quite high, at 4.48 percent. Given the popularity of Lagos with expats, you will also find commercial properties to be an excellent investment.
The average price for properties in Lagos is quite expensive when compared with other areas in Portugal. However, compared with other European countries, property prices can be quite reasonable.
How much does real estate cost in Lagos, Portugal?
Real estate prices in Lagos, Portugal vary based on location and property type, with coastal properties generally higher.
In 2022, the average asking price for a villa was €4,171 per square meter and for an apartment was €3,659 per square meter.
Are there any restrictions on foreigners buying property in Lagos, Portugal?
Foreigners can buy property in Lagos, Portugal without restrictions, enjoying the same rights as local buyers.
What types of properties are available in the Lagos real estate market?
The Lagos real estate market offers a diverse range of properties, including apartments, villas, and waterfront properties. You’ll also find many luxury properties with a private swimming pool, gyms, and security in Lagos and the Western Algarve.
Can I rent out my property in Lagos, Portugal as a vacation rental?
Is it a good time to invest in real estate in Lagos, Portugal?
Yes, investing in real estate in Lagos, Portugal, is considered favorable due to its attractive tourism sector, which continues to grow. Compared to other seaside areas in Western Europe, you will also find the average price of properties to be quite reasonable.