Contrary to several economic sectors, the pandemic does not seem to have affected the sales of residences in resorts. Not only did sales increase, but prices followed this evolution, with the Albufeira-Loulé axis, which aggregates 51% of the national market and where the level of activity more than doubled compared to the first pandemic year, having registered greater price value in the year 2021.
The number of units transacted in resorts increased by 70% in 2021 compared to 2020 and exceeded the activity of 2019 by 30%, with prices experiencing a strong valuation, registering an increase of 16% compared to 2021.
These conclusions are contained in the biannual report “Portuguese Resorts Market Report”, produced by Confidencial Imobiliário in partnership with the Portuguese Association of Residential Tourism and Resorts (APR), noting that, in terms of prices, this was one of the most significant increases since 2016, only surpassed by the 18.3% growth recorded at the end of 2018, when the Brexit agreement was approved, dissipating a phase marked by strong uncertainty.
Alongside the strong valuation of prices, sales at the resorts also increased sharply, growing by 70% compared to 2020 and exceeding the activity of 2019 by 30%.
In 2021, the average sale price of housing in resorts reached €4,205/m2, being its highest expression on the Albufeira-Loulé axis, with sales reaching an average of €4,848/m2, showing that the national residential market remains competitive and attractive across the board, emerging reinforced from the pandemic crisis.
In 2021, resort-integrated residences available for sale in the country had an average value of €4,418/m2, reaching €8,374/m2 in the highest range of the market. In the main resort destination, the aforementioned Albufeira-Loulé axis, the offer was placed at an average of €5,151/m2 and in the luxury segment it reached €10,064/m2, a level never before seen in the resort market. The average offer price on this axis is between 27% and 51% above other locations.