Updated: February 15, 2024
In the heart of Western Algarve lies Lagos, Portugal, a captivating tourist destination and a favorite among expats and foreign investors alike. This coastal town’s natural beauty epitomizes the Algarve’s charm. From its distinctive rock formations and the Bay of Lagos, where you will find the inviting Praia da Luz, to the spectacular Marina de Lagos that offers one of the most beautiful sailing experiences in the world.
Lagos boasts a dynamic real estate scene that can be tricky to navigate. The right real estate agent in Lagos Portugal can help you locate and invest in the best deal as you navigate the range of quality properties available, from affordable homes and lavish beachfront villas to commercial properties and resorts.
Whether you buy or sell, professional real estate services or a buyer’s agent like Goldcrest can easily simplify your property journey in Lagos. Goldcrest’s exclusive network and expert team share insightful expertise, strategic advice, and a tailored approach to your investment experience.
In this article, we will explore the essential considerations and advantages of working with real estate agents in Lagos, Portugal, discover more about the real estate market of this vibrant coastal gem, and learn how partnering with skilled professionals streamline your property search and ensure a seamless experience.
An Introduction to Lagos's Real Estate Market
Lagos, Portugal, real estate has so much to offer international buyers and expats when it comes to comfort, lifestyle, access to business opportunities, and a wealth of culture and history. Lagos Old Town is central and the historic center of the city. The scenic Lagos Marina offers stunning views and an incredible selection of Portuguese bars and restaurants. If you are in search of an authentic coastal lifestyle, the suburbs of Meia Praia, Porto de Mos, and Torralta feature the best beaches and coastal homes.
Before you buy or rent a house or apartment, there are a couple of things to consider ahead of the number of beds and baths in the home. Non-EU and non-EEA citizens will need a visa to live in Portugal. A popular route to living in Portugal is the Portugal Golden Visa investment program.
The Portugal D7 Visa, also known as the Retirement Visa, grants the visa holder residency in Portugal as long as you have a sufficient passive income.
You can also opt for the Portugal Digital Nomad Visa if you are a remote worker and earn four times the Portuguese minimum wage. Another important factor to take into account before you invest is property prices. The average asking price for property in this coastal town was €3,116 per square meter in 2023. Note that this is the average asking price, and sales prices are often significantly lower than this. They can also be higher in some situations, although this is less common.
Once you have your residency and an idea of the finances you need, you can contact a top real estate agent in Lagos, Portugal, to help you explore the properties available, which we explore below.
Property types in Lagos
This stunning part of Portugal could be the perfect place to find your dream home. Here are some basic property types that can be commonly found in Lagos, Portugal.
Villas in Lagos are spacious holiday homes perfect for a family weekend getaway and are usually located in the countryside or near the sea. Many will also come with a sea view and additional amenities, such as a swimming pool or private gym. There are different types of villas available in Lagos, such as traditional, contemporary, basic, or luxury.
The popular choice among buyers in Lagos is apartments. Whether you plan to stay long-term or for a few months, apartments are the perfect option. Also, there are plenty of complexes with garden areas and pools in Lagos.
Townhouses are an alternative to apartments and villas in Lagos. They have similar internal spaces like villas but without a swimming pool or garden area. Townhouses are great if you buy property to let or for seasonal stays.
Why do you need a real estate agent in Lagos?
Lagos is one of the most visited places in Portugal. It has excellent investment opportunities and rental potential and several ideal homes for you to consider. Also, properties here are quite affordable, particularly when compared with what you would expect to pay in other Western European locations. Working with young and seasoned professionals, specifically an English-speaking realtor in Portugal, can save you time and hassle in your search for property in the country.
Expertise in the market
It’s essential to seek expert real estate advice in Lagos to secure your ideal property. To ensure the best deal, a deep understanding of the local market, risks, and current prices is crucial.
Below, we provide you with some solid reasons for hiring an experienced agent to work with.
- Language barrier: One of the major concerns in selling or buying a property in a foreign country is the language barrier, and looking for homes for sale in Lagos, Portugal, is no different. It shouldn’t be difficult to find English-speaking real estate agents in Lagos, Portugal, as most agencies have English-speaking agents.
- In-depth knowledge: Agents have in-depth knowledge about the local areas and know the current market prices in Lagos.
- Sale process: Real estate agents will help you with the whole process. If you are a buyer, they will analyze the property market, assist with valuation, and find the right fit for you. If you are selling, they will aid you in putting the property on the market for sale right through to the final settlement.
Personalized property matching
In the property acquisition process, the role of real estate agents is crucial, but it’s essential to select services that cater to your specific needs. Unlike traditional real estate agents in Portugal, who handle both buyers and sellers, Goldcrest operates as an exclusive buyer’s agent dedicated solely to advancing the buyer’s interests. We also have access to exclusive properties that you will not find elsewhere on the market.
Navigating legalities and financing
Real estate services should include assistance with the legal documentation associated with your property, offering reliable support throughout the whole process until you reach a final decision. This is particularly important as legal procedures may vary from your home country. The following services may be offered:
- Finalizing legal paperwork related to your property
- Coordinating with real estate lawyers, the seller, and other involved parties
- Conducting thorough property checks to ensure it is free of any outstanding debts
- Verifying the legal construction status of the property
- Confirming the property owner and their legal right to sell
- Facilitating the drafting and signing of contracts
How to Find a Real Estate Agent in Lagos
So, how can you find a real estate agent in Lagos who will help you with finding your ideal property in the sunny south of Portugal? Here, we share some insights.
Identifying your real estate needs
Whether you are looking for a real estate agent in Lagos to secure a charming apartment in the city center or desire a contemporary villa near the beach, you will find many real estate agencies that can assist you in Lagos.
However, the initial step is to clearly outline your requirements. Specify the details of your ideal home, such as size, location, and style, to guide your search. Gather information on different parts of the city, stay informed about market trends, and outline your project requirements to ensure your property purchase runs smoothly.
Searching for real estate agents
Many companies have an online presence through websites providing a quick avenue to shortlist prospective companies. This allows you to access information about a company and its services. Additionally, online reviews and feedback from previous clients offer insights into their experiences. Seek recommendations, scrutinize reviews, and contact real estate agents who align with your criteria to ask specific questions about how they can assist you.
Perhaps the best way to find a suitable agent is to seek referrals from family, friends, or colleagues who have utilized reputable companies. If you have contacts in Portugal, ask for their recommendations for a local company.
Evaluating potential agents
When choosing the perfect real estate agent for your needs, communication is key. Discuss their services, your needs, and their expertise in helping clients in a similar situation to yours.
We have created a checklist that includes details that will help you do a systematic evaluation of a real estate agency and help you make an informed decision when choosing a quality partner to help you buy or rent your dream home.
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?
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?
Real Estate Agent versus a Buyer’s Agent
It’s important to note that real estate agents primarily represent sellers and receive a higher commission for larger sales. On the other hand, a buyer’s agent exclusively works on your behalf as the client. They do not sell real estate but focus solely on assisting you.
A buyer’s agent will support you throughout the entire process, starting from finding quality properties all the way to the acquisition stage, and will readily address any queries you may have.
To help you understand the key differences between working with a buyer’s agent and a real estate agent, we have created a comprehensive guideline showcasing each option’s advantages and potential drawbacks.
Real Estate Agent
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
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 proficiency may vary
Proficient in the buyer's language
Represents seller's interests in negotiation
Negotiates exclusively for buyer's benefit
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
Earns higher commission for higher sale prices
Does not earn based on sale price, focused on buyer
Goldcrest: How We Can Help
Goldcrest is a buyer’s agent specializing in Portuguese real estate with an office based in Lisbon. We have an expert team who are trained in providing insightful real estate expertise and strategic advice. We help our clients find excellent investment opportunities in Lagos, Portugal, and stand by them throughout the process. In addition to having an AMI license number,
Key Takeaways: Working with Estate Agents in Lagos, Portugal
Now that we have established the benefits of working with a buyer’s agent like Goldcrest or real estate agency and know more about the real estate market in Lagos, we can take a look at the step-by-step guide to help you buy your dream home or rent houses in the sought-after coastal city.
Step 1: Request an appointment to discuss your specific needs.
Step 2: Your agent will conduct a property search and arrange viewings.
Step 3: Once you have reviewed the properties presented by the agent and shortlisted the ones that meet your requirements, you and your agent can formulate an offer for the property.
Step 4: Shortly after the offer is accepted, your agent will assist with completing legal paperwork and other necessary formalities.
Step 5: It’s time to close the deal. Your buyer’s agent can help you with finalizing the legalities of the purchase, help you sign contracts and legal documents, and ensure you understand and agree with other aspects of the purchase.
Whether you are looking to buy in Lagos, Lisbon, or elsewhere in Portugal, we can simplify your buying process. Contact us for a complimentary call to discuss your options with our team of experts today.
Frequently Asked Questions about Real Estate Agents in Lagos
What are the typical responsibilities of a real estate agent in Lagos?
Real estate agents in Lagos are responsible for facilitating property transactions, including property listing, connecting buyers and sellers, negotiating deals, providing market insights, arranging property viewings, and guiding clients through the buying or selling process. Real estate agents can help with securing both residential and commercial properties.
How do I choose the right real estate agent in Lagos to work with?
To choose the right agent when looking for houses or apartments for sale in Lagos, Portugal, consider their experience, local expertise, reputation, communication skills, and client service reviews. To find top estate agents in Lagos, Portugal, look for agents with a track record of successful deals in your desired area and who understand your specific needs.
What fees and expenses should I expect when working with a real estate agent in Lagos?
Real estate agent fees typically include a commission, which, in Portugal, is paid by the buyer. They will, therefore, get a higher commission for higher sales – this conflict of interest is something to be mindful of.
A buyer’s agent, on the other hand, represents the needs of the buyer and in securing the best price possible for the buyer. This comes with a minor fee. However, this is a fraction of the costs that the buyer would pay and ensures that they find their ideal property at the best possible price.
What is the price of property in Lagos, Portugal?
The average asking price for property in Lagos was €3,116 per square meter in 2023.
Lagos is located in the Western Algarve and is one of the most stunning parts of the southern region of Portugal – the perfect city to find your ideal property. Alongside some of the best properties in the region, you’ll find some of the best beaches in Lagos, such as Praia da Luz and Meia Praia.
How can I find property in Lagos, Portugal?
A good starting point is to do a property search for the area. A simple property search will provide you with information on property prices and the types of property on the market. Note that there are many different real estate websites, and there is no one website to find all the properties on the market.
Following this, you can enlist the services of a buyer’s agent or real estate agency to assist you with narrowing down the best properties so that you can find your dream home.
Can I buy to let in Lagos?
Yes, you can buy to let in Lagos, and doing so can be a fantastic way to invest. If you are considering buying to rent, a property management company can look after the building on your behalf. From vetting tenants to ensuring the maintenance of the property, a property management company can also advertise the house or apartment for rent, helping you generate passive income from your asset.
Is buying property in Lagos a good real estate investment?
Buying properties in Lagos can be a promising real estate investment due to the city’s popularity with tourists. However, investors should consider factors such as market fluctuations, regulatory policies, and location-specific risks. Conduct thorough research and seek professional advice from a real estate agency or buyer’s agent before making any real estate investment decisions.
How can I find a luxury property real estate agent in Lagos Portugal?
To find a suitable Lagos property agency for luxury properties, start with research. Refine your search criteria by assessing a company’s online presence, their experience within the property market, and client reviews and ratings. Goldcrest has years of experience in securing exclusive properties for buyers in Portugal.
How can I find affordable homes for sale in Lagos Portugal?
To discover budget-friendly real estate agents in Lagos, conduct thorough research on local agencies, assess pricing variations, seek recommendations, and interview several agents. Striking a balance between cost-effectiveness and expertise is crucial to finding top real estate agencies in Lagos Portugal.
How can I find an investment property specialist in Lagos Portugal?
You can begin with researching online as most companies will have an online presence. Following this, you can shortlist prospective companies before getting in touch with the the few that catch your eye. Make sure you consider a companies experience with assisting expats with their property investment. Goldcrest has many years of experience with finding the perfect property for investors, tailored to their unique needs. We also have access to exclusive properties that you will not find elsewhere on the market.
Property experts can help with securing both residential and commercial properties.
How can I find a real estate agent for villas in Lagos Portugal?
Start your search by exploring online since most companies maintain an online presence. Afterward, narrow down your choices and reach out to the selected few that stand out to you.
How can I find holiday homes for sale in Lagos Portugal?
You will want to work with a real estate or buyer’s agent to find holiday homes in Portugal. Most real estate agencies have an online presence so you can quickly determine their relationship with clients and see their reviews. If you are looking for a real estate agent for expats in Lagos Portugal, you will find that there are many options to consider, but be sure to choose one that has worked with expats and has a proven track record.
How can I find a real estate agent for historic properties in Lagos Portugal?
To find a real estate agent specializing in historic properties in Lagos, start by researching local agencies online. Inquire about their expertise in dealing with historical homes and consider seeking recommendations. Goldcrest is well-equipped to help you find a historic property that aligns with your requirements and guide you through the regulations associated with historic buildings.