Updated: April 22, 2024
The Algarve is one of the most popular spots for expats who are considering purchasing properties in Portugal. Just two a two-and-a-half-hour drive south of the Portuguese capital of Lisbon, the Algarve region has great potential whether you are looking for a holiday home, a profitable investment, or are looking to settle permanently in Portugal. Expats who consider moving to Portugal often choose the south of the country. It has unrivaled natural beauty and year-round sunshine.
If you’re considering purchasing real estate in this region, in this article, we will guide you on why you may need a real estate agent in Algarve and how to find a good real estate agent who will help you find the perfect property in Portugal.
Exploring the Real Estate Market in Algarve, Portugal
Algarve real estate is highly popular with both Portuguese people and expats from all over the world, and it is no secret that many expats choose to invest in property here.
It is a unique region of Portugal, lined with golden sandy beaches and stunning rock formations. Some of the best beaches include Praia da Rocha, close to Portimão, and Meia Praia in Lagos, in the Western Algarve, while the Ria Formosa Natural Park, close to Tavira in the Eastern Algarve, is one of the highlights of Portugal.
Real estate on the region’s coveted coastline is largely popular because of the weather, the beach, great seafood, and world-class golf courses, such as those found at Vila Sol.
Property Prices in Algarve, Portugal
Potential buyers will have access to a great selection of residential properties and commercial properties in the Algarve. Particularly in the central Algarve, you will find luxury properties that come with a private pool and high levels of luxury. You can find excellent properties located in the Golden Triangle of Quinta do Lago, Vale do Lobo, and Vilamoura, which have been a top choice for many years.
Located in Western Algarve, you have Lagos, which is also an in-demand location and where you will also find exclusive properties with stunning ocean views. Further west still, Sagres (Vila Do Bispo municipality) tends to be more affordable. In the Eastern Algarve, you can find a more affordable villa, apartments and townhouses offering an “authentic” side of Algarve, Portugal.
If you are looking to snap up property in Lagos, consider working with a real estate agent in Lagos to assist you with your purchase.
In addition to location and amenities, the price of the apartment or villa on sale is one of the most crucial factors to consider. The Algarve region is known for luxury real estate, but it is possible to find an apartment, villas, townhouses, and even a condominium near the beach featuring a bedroom offering spectacular views of the coastline and nearby marina listed at affordable prices.
In the table below, we have provided you with a comprehensive overview of the average property prices per square meter for property in different locations across the Algarve, Portugal, in 2023.
Municipality | Average asking price (€/m2) |
Albufeira | €3,635 |
Alcoutim | €1,276 |
Aljezur | €3,346 |
Castro Marim | €6,151 |
Faro | €3,519 |
Lagoa | €3,800 |
Lagos | €4,476 |
Loulé | €5,191 |
Monchique | €2,530 |
Olhão | €3,395 |
Portimão | €3,119 |
São Brás de Alportel | €2,357 |
Silves | €3,126 |
Tavira | €3,309 |
Vila do Bispo | €4,298 |
Vila Real de Santo António | €3,343 |
Why do you need a real estate agent?
Knowing how to buy Algarve real estate in Portugal is not simple, and the process will involve a lot of research, especially if you’re living abroad.
The real estate industry in the Algarve has evolved in the last couple of decades, and real estate professionals can help you secure a dream property that matches your budget.
There are a number of boutique real estate firms in the Algarve with professionals who can cater to each client’s unique property needs.
Market expertise
Dealing with a top real estate agent in the Algarve will cost you a little bit more upfront than handling it yourself, but it will grant you greater efficiency and high-quality service if you get an experienced team of professionals. You will also likely save money in the long run, as you will be avoiding potential pitfalls that could cost you financially. With the help of a real estate agency and working with top-rated realtors in the Algarve, you will have access to exclusive listings and in-person viewings and benefit from their local knowledge about the southern most region of Portugal.
Navigating legal and financial processes
Real estate services generally include real estate legal advice in Algarve. The property professionals you choose to work with will be your trusted go-to throughout the buying process, helping you make an informed decision on the best investment option for you.
Services should include assistance with the legal paperwork and financial transactions related to your property and more, including:
- Assistance with legal paperwork related to the property
- Liaising with your Portugal real estate lawyers, the seller, etc.
- Completing property checks to ensure there is no debt attached
- Checking that the property was built legally
- Background checks on the owner/s of the property are/are and whether they have the right to sell it
- Drawing up and signing purchase contracts
- Informing you of any property restrictions
Personalized property matching
A real estate agency or buyer’s agent with extensive experience in the Algarve will have an updated database of the property market and give you access to exclusive properties and in-person viewings. Plus, if you’re planning to buy a property and rent it out, many real estate professional services will save you a lot of hassle, assisting you with finding the perfect property for investment, in addition to finding rental clients and assistance with property management services.
How to Find the Best Real Estate Agent in Algarve, Portugal
The process of searching for the proper Algarve home may require a lot of searching and be quite time-intensive if you’re doing it on your own. Working with a professional real estate agency in the Algarve can save you time and hassle. Below, we share a few tips for finding the best estate agents in Algarve, Portugal.
Identify your real estate needs
Create a checklist so that you can be clear about your unique needs when you make contact with potential property professionals.
Consider things like:
- Lifestyle: Whether you prefer an apartment in the city or villas by the beach
- Budget: What your budget is
- Location: Where you want the property to be located
- Size of property: Whether you need a one-bedroom place, a two-bedroom apartment, or a space big enough for a family
- Amenities: Proximity to amenities, such as schools, hospitals, restaurants, etc.
Searching for affordable property brokers in the Algarve
The real estate market in Portugal is fragmented, and there is nowhere you will find all the listings in one place. You can begin your search for local real estate-specific websites, of which there are many Algarve property search services. A quick search for “realtors Algarve” will provide you with information on what you can expect from real estate agents in the Algarve. Look for local real estate agencies or firms with good reviews and a strong presence in the Algarve region. You could also ask for recommendations from friends, family, or acquaintances who have experience with real estate transactions in the Algarve and check on online expat groups and forums. A great way of making contact with potential property partners is by attending local real estate events or open houses to meet and network with agents in the area.
How to evaluate potential property partners
A real estate agent in Portugal can be instrumental in a successful property purchase. They serve as your guide, simplifying legal complexities while ensuring clear communication. Realtors can also connect you with real estate lawyers so that all aspects of your property transaction are understood and properly managed. Ensure that they have in depth knowledge of the real estate market and have worked with clients that had similar requirements to yours. You could use this checklist to systematically evaluate critical criteria to help you make an informed decision when hiring a real estate agent or company that fits perfectly to your needs.
Criteria | Evaluation |
Language Proficiency | Do they speak English? |
Experience with International Buyers | Can they provide project data proving experience? |
Property Market Insight | Do they have an exceptional understanding of the Portuguese real estate market to provide expert investment advice and services? |
Focus on Real Estate in Portugal | Is their service focused on real estate in Portugal? |
Track Record of Excellence and Communication | Do they maintain contact and have a track record of excellence? |
Business Credentials | Do they have business credentials to share with clients? |
AMI License Number | Do they have an AMI license number? |
Alignment of Company Values | Do their company values align with your interests? |
The Difference between Real Estate Agents and Buyer’s Agents
Having the services of real estate agents is a valuable asset, but you should know that they will work on behalf of the seller and will get a higher commission for a bigger sale. Algarve real estate agent commission rates will vary depending on the purchase price. Buyer agents, such as Goldcrest, do not sell real estate. A buyer’s agent works solely on behalf of the buyer, which is a significant advantage. They also help buyers throughout the process, from searching for properties to real estate acquisitions. Take a look at the comprehensive guideline below showcasing each option’s advantages and potential drawbacks.
Factors | Real Estate Agent | Buyer's Agent |
Work Scope | Facilitates transactions for various parties | Exclusively works for the buyer throughout the process |
Search & Selection Assistance | May present options, but not solely focused on buyer's needs | Focuses on finding options that suit the buyer best |
Representation | Represents the seller's interests primarily | Solely represents the buyer's interests |
Conducting Legal Checks | May overlook some legal checks for buyer's benefit | Ensures thorough legal checks for buyer's protection |
Language Assistance | Language proficiency may vary | Proficient in the buyer's language |
Negotiation | Represents seller's interests in negotiation | Negotiates exclusively for buyer's benefit |
Documentation Handling | May not prioritize all necessary documentation | Ensures all required documentation is in order |
Time and Cost Savings | May not optimize for time and cost efficiency | Saves time and money by focusing on buyer's needs |
Commission | Earns higher commission for higher sale prices | Does not earn based on sale price, focused on buyer |
Goldcrest: Who We Are and How Can We Help You
At Goldcrest, we’re a buyer’s agent who works solely on behalf of you as a buyer, giving you exclusive advantages and helping you find the perfect home or investment tailored to your needs. Based in Lisbon, Porto, and the Algarve, we strive to find the ideal property or perfect investment opportunity for each of our clients and serve as a one-stop shop to ensure all your real estate questions are answered.
Our experienced team works diligently to ensure the correct steps have been carried out, conducting a thorough market analysis and safeguarding you from poor property investments. We have in depth knowledge of the region and a clear understanding of the latest Algarve real estate market trends, having established extensive connections across the country, providing you with access to an exclusive list of properties and investment routes. Should you be looking for property management services, we can also assist with this.
Get in touch now, and let’s kickstart the process to help you find what you are looking for.
Frequently Asked Questions about Finding a Real Estate Agent in Algarve:
What does a real estate agent do?
Real estate agents in the Algarve provide insights and knowledge about property purchases in the region. These professionals can help clients secure the best deals, bridge language barriers, and negotiate prices. Note that real estate agents in Algarve Portugal will work on behalf of the seller and secure a higher commission for a higher sale. This is why working with a buyer’s agent can be the best course of action. They work solely on behalf of the buyer, ensuring you find the best property at the best possible price.
What is the most credible real estate agent license?
The most credible real estate license is the AMI license issued by IMPIC. This license enables real estate agents to lawfully conduct business in Portugal.
How to verify an agent's credentials?
Verifying a real estate agent’s credentials involves visiting the IMPIC website and checking out an AMI number link. Input the number and review the results. When you see the agency’s confirmation of registration and displayed license numbers, you will be sure that their services are verified.
Are the house prices falling in the Algarve?
Although not uniform across the Algarve region, property prices are generally rising across the region.
Is buying property in the Algarve a good investment?
The Algarve region is a popular choice for a holiday home and also offers an excellent property investment opportunity. With many property types, you should be able to find your ideal property in the region. With plenty of low-cost airlines offering flights to Algarve’s Faro International Airport and flight times of just a few hours from most of Europe, the Algarve is easily accessible.
Where is the best value property in the Algarve?
The best places to buy and invest in real estate in the Algarve area are: Quinta do Lago, Vilamoura, Vale do Lobo, Loule, Albufeira, Almancil, Quarteira, Alvor, Portimao, Lagos, Carvoeiro, Vila do Bispo, Tavira, and Olhão. A real estate or buyer’s agent, such as Goldcrest, who possesses in depth knowledge and local insights will be able to discuss the best investment opportunities in the Algarve.
Is Albufeira a good investment?
There are many investment opportunities in the Algarve, and Albufeira is certainly a good location to consider. Albufeira, in the Central Algarve, is known for its beautiful beaches, old town, and golf courses. Albufeira really does have something for everyone.
What are typical real estate agent commission rates in the Algarve?
Algarve real estate agent commission rates will vary depending on the purchase price, but the agent will generally receive between 3 and 5 percent of the property price in commission. Real estate agents may represent both sellers and buyers, potentially earning a higher commission from a higher sale price. Conversely, buyer’s agents are dedicated exclusively to the interests of the buyer, eliminating any conflict of interest.
Where is the best place to buy property in the Algarve?
The best place to buy property in the Algarve will depend on what you are looking for. The Central Algarve is perhaps the most popular, where you’ll find the famous Golden Triangle of Quinta do Lago, Vale do Lobo, and Vilamoura, where you’ll find an array of luxury properties. The cities of Albufeira, Portimão, and Faro are also good options to consider.
If you would like to buy property close to the beach, the Algarve has a wide array of options, from houses close to Praia da Rocha in Portimão to properties near Praia de Ancao in Quinta do Lago. Golf enthusiasts will also find world-class golf courses, while those who prefer watersport activities will be spoilt for choice.
How to find the best real estate agent in Algarve?
Algarve estate agents will have extensive experience offering a range of services, including property sales, rentals, property management, and legal assistance. They specialize in residential and commercial properties, providing comprehensive support to clients navigating the vibrant real estate market of the Algarve region. Working with a real estate professional will provide you with insights into the local real estate market, helping you find your dream property.
What are the services offered by Algarve estate agents?
To find the best real estate agent in the Algarve, consider factors such as experience, local knowledge, client reviews, and specialization in your desired property type. Research online, seek recommendations from locals or expats, and schedule consultations to assess compatibility and expertize.