Updated: April 2, 2024
Consisting of nine volcanic islands, the Azores is an archipelago and an autonomous region of Portugal. The Azores is home to beautiful natural landscapes, fishing villages, vineyards, and much more, making it a sought-after European Union region.
Although the Azores do not have the largest real estate network in Portugal, like Lisbon, Porto, and the Algarve, the perfect balance of personal and professional life that the islands promise has made investing in real estate here quite attractive to expats across the world. The islands offer numerous activities to enjoy and a relaxed lifestyle against a stunning natural backdrop. The lower cost of living also adds to the Azores islands being a great place to live, work, and invest in the real estate sector.
In this article, we will share some insight into the real estate market in the Azores, and guide you in your search for a top-rated Azores real estate agent or buyer’s agent like Goldcrest with the knowledge and experience to help you purchase your dream home seamlessly.
An Introduction to the Azores Real Estate Market
The real estate market in the Azores is developing steadily through business interests from foreign clients and local construction and selling efforts.
Be it luxurious villas, charming beach-facing apartments, or townhouses, Azores properties provide buyers with an array of options. Property prices for the Azores will vary, with the average asking price in São Miguel standing at €1,670 per square meter and the average asking price in Pico being €1,364 per square meter. Each island will have its own price range, which will also vary depending on the size of the property and additional features. These diverse rates across islands cater to a wide variety of requirements and budgets, making the Azores an enticing real estate prospect for prospective buyers.
The best areas for buying real estate in the Azores:
The islands in the Azores are unique and provide breathtaking views across the archipelago. In addition to this, the islands are famous for their greenery and volcanic beaches, making them attractive tourist spots. So, where should you consider buying a house or the family home of your dreams in the Azores?
- São Miguel Island is the region’s most significant island with a booming real estate market. If you are planning to move to the Azores, you should consider this island. São Miguel Island is the largest island and is where the capital, Ponta Delgada, is situated. However, there are many options from Pico Island to Terceira, depending on your preferences.
- Santa Maria, one of the islands in the Eastern Azores, is also a good location to consider buying property. The central group of islands, Terceira, Graciosa, São Jorge, and Faial, are also beautiful, providing buyers with sublime nature and outstanding views. Our guide, Azores Real Estate: An Overview, will give you more insight into the different Azores islands.
Before you start the purchase journey, there are a number of residency routes to consider if you are not solely purchasing houses as investments.
Through Portugal’s Golden Visa Program, you and your family can earn residency in the country in return for an investment. However, the real estate sector is no longer part of the viable investment routes for the program. You can also look at Portuguese visa options like the Portugal D7 Visa or the Portugal Digital Nomad Visa.
Why do you need a real estate agent in Azores?
Purchasing real estate in any region of Portugal comes with its own set of benefits. However, in reality, the entire process can be cumbersome and the simplest way forward is to have a specialist who will be on hand to help you out.
Here, we provide some key reasons why you should consider working with a real estate agent in the Azores.
Expertise of the market
Hiring real estate agents with local knowledge is highly recommended if you are looking to buy or sell property in the Azores.
An experienced real estate company can help you discover the right property deal and expedite the sale process. Whether working with property sellers or assisting you with due diligence checks, a real estate agent can help you streamline everything to close your real estate investment without any hiccups.
Before working with a real estate company, ensure that they can provide you with a quality service tailored to your needs, that they have experience working with expats, and that they are a licensed real estate company.
Working with an English-speaking realtor in Portugal can save time and hassle in your search for property in the country.
Navigating legal and financial processes
Navigating legal and financial processes in real estate transactions can be tricky, which is why having a real estate specialist by your side is highly recommended. They will be able to assist with the following.
- Assisting in handling the legal paperwork associated with your property
- Coordinating with real estate lawyers, the seller, and other relevant parties to streamline the process
- Conducting thorough checks on the property to ensure the absence of any outstanding debts
- Verifying the property’s legal construction status to confirm compliance with regulations
- Confirming ownership details and ensuring the right of the owner/s to sell the property
- Facilitating the drafting and execution of contracts to ensure a smooth and legally sound transaction
Personalized property matching
Real estate agents will be able to present you with properties that meet you exact requirements. This can save you time and energy. Working with a buyer’s agent with extensive experience in the market, such as Goldcrest, is a great option. We provide you with a personalized service, working by your side to secure the best property for you.
While real estate agents work on behalf of the seller, buyer’s agents work for the buyer, protecting their interests. Alongside this, through a buyer’s agent, you will have exclusive access to more properties than you would if buying on your own or through an agency.
How to Find a Real Estate Agent in Azores
Experienced real estate agents will have access to an extensive database, thus making it easier to have a more thorough real estate market overview. Although a good real estate agent does come at a cost, the quality of work, productivity, and time efficiency make it essential, in the long run, to simplify the property purchase process so that you can secure your dream home with as little stress and hassle as possible. Here is a few tips to find a real estate agent in the Azores.
Identifying your real estate needs
Defining your requirements is essential. You will need to decide on your dream property specifics—size, location, and style—to kickstart the search. Gather infromtaoin on neighborhoods that you would like to consider and gain a basic understanding of the real estate market. Also consider factors such as if you would like a swimming pool, proximity to a local school, or where the closest shops are. Work out what is essential and what is desireable and make a list with these two columns. You’ll then have a clearer idea of the property you are after and the amenities you would like it to have. Following this, you’ll be more prepared when speaking with prospective real estate agents.
Searching for agents
Most companies now have an online presence where you can find out about the company. Furthermore, you should be able to find online reviews from past clients detailing their experience with a company and agent. If you have any friend, family, or acquaintances who have worked with a real estate agent in Portugal, make sure you get their insights.
Evaluating potential agents
We have created this checklist for a systematic evaluation of key criteria to help you make an informed decision when hiring real estate agents or alternative real estate services.
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? |
Goldcrest: How We Can Help
Goldcrest is your one-stop solution for all real estate sale, purchase, and rental in Portugal. We offer key real estate services to help you buy properties in Portugal at the best price. With years of experience in the property market and strong ethics, our team can guide you in choosing the best feasible property in the most desirable locations in the country. You can book a free call to discuss your options.
Real Estate Agent versus a Buyer's Agent
While working with a real estate agency is important, you should be aware that real estate agents represent the sellers who are their main customers and earn a higher commission from a larger sale.
On the other hand, a buyer’s agent’s primary focus is not on selling real estate, but rather on exclusively representing you as the client.
Let’s discover the key differences between working with a buyer’s agent and a real estate agent, in this comprehensive guideline 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 |
Working with a Real Estate Agent in the Azores Wrapped Up
Engaging the services of a licensed real estate company such as Goldcrest or partnering with a proficient bilingual real estate agent in Azores can streamline your property transactions and ease your journey through the real estate market.
These professional individuals are well-versed in all the processes involved in property acquisition, and can even put you in touch with a banking professional and guide you through the entire banking process to ensure a smoother experience with bank financing. By leveraging their expertise, you can efficiently navigate the complexities of the market.
Now that we have discovered the key distinctions between buyer’s agents and real estate agents and which of each provider’s comprehensive market knowledge can better serve you, take a look at the step-by-step guide below to assist you with strategic planning, know what to expect from your property investment journey, and make the best possible investment.
Step 1: Initiate a meeting to discuss your specific requirements and preferences in detail.
Step 2: Your agent will conduct an extensive property search, organizing viewings based on your criteria.
Step 3: Upon reviewing the properties provided by the agent and narrowing down your selection to meet your needs, collaborate with your agent to create a tailored offer for the chosen property.
Step 4: Post-acceptance of the offer, your agent will guide you through the completion of essential legal paperwork and formalities.
Step 5: The final stage involves closing the deal. Your buyer’s agent will facilitate the completion of legal procedures, assist in signing contracts and necessary documents, ensuring your comprehension and agreement with all purchase-related aspects.
At Goldcrest, our services are focused on making your property purchase and your new life in Portugal as seamless as possible. Book a complimentary call with Goldcrest to discuss your options.
Frequently Asked Questions about Finding a Real Estate Agent in the Azores
How do you find Azores real estate agents for expats?
You can get in touch with a real estate agent in Portugal in many ways. For instance, you can search online, shortlist a few options, and then contact them. You can also find your real estate agent through a real estate website or simply through word of mouth. Real estate consulting services in Azores can provide you with local insights into the market.
While having a real estate agent on your side is useful, bear in mind that in Portugal, they will work on behalf of the seller and get a higher commission for a higher sale. It is better to acquire services capable of prioritizing you unique needs.
With a buyer’s agent, on the other hand, there is no conflict of interest, as they will work solely on behalf of the buyer.
Is real estate expensive in the Azores?
Compared to Portugal’s more popular cities and regions, like Lisbon, Porto, and the Algarve, real estate in the Azorean market is very affordable.
Where should I buy property on the Azores?
São Miguel, Pico Island, and Santa Maria are all good options. São Miguel is where the capital, Ponta Delgada, is located. Ponta Delgada has the most luxury property available, so if you are looking for an exclusive home, this may be the place to opt for.
Other islands such as Faial and Graciosa are also stunning. The archipelago has many jaw-dropping locations and the best place for you to buy property on the Azores will completely depend on your preferences.
You will find that the real estate sector in the Azores is not quite as developed as in other parts of Portugal. Even without it having the largest real estate network, you will still be able to find the perfect property at an excellent price, as you’ll find property in the Azores at affordable rates.
How can I find a luxury property real estate agent in Azores?
When seeking a reputable agency in the Azores specializing in luxury properties, begin by conducting thorough research. Narrow down your selection by evaluating a company’s online visibility, its track record in the real estate market, and client feedback. Goldcrest has extensive experience in procuring luxury properties for clients in Portugal.
How can I find real estate agents specializing in Azores villas?
There are various ways to find a real estate agent in Portugal. One approach is to conduct online searches, narrow down potential options, and then get in touch with those on your shortlist. While having a real estate agent on your side is useful, bear in mind that in Portugal, they will work on behalf of the seller and get a higher commission for a higher sale. It can therefore be better to work with a buyer’s, who will work solely on behalf of the buyer.
How can I find a real estate agent for historic homes in Azores?
To find a real estate agent with a focus on historic properties in Lagos, begin by conducting online research on local agencies. Ask about their experience in handling historical homes and seek recommendations from others. Goldcrest is adept at assisting you in discovering a historic property that suits your needs and navigating through the regulations related to historical buildings.
How can I find a real estate agent with English-speaking services in Azores?
Most real estate agents will speak English so you should have no worries in communication.
