During the first six months of 2021, resort's home sales grew 30%, compared to the previous semester.
The increase was equal across the country, with an emphasis on the Albufeira-Loulé axis, which aggregates 45% of sales made during this period, revealed the Resort Price Index (SIR-Resorts).
João Richard Costa, Director of Sales and Marketing at Ombria Resort, adds that the sales of the Viceroy Residences are exceeding expectations, due in part to the digital tools created to circumvent the mobility restrictions imposed by governments to control the pandemic. According to João, "possibly around 70% of buyers have decided to buy remotely, i.e. without visiting".
In these Algarvain regions, the average price of resort homes, traditionally as a second home, exceeded 4,450 € per square meter.
In addition to the British, who continue to represent the main source of international demand for resorts in the region, with a 44% share of purchases by foreigners during the first six months of this year, the Algarve has also captivated other foreign investors, namely Russians, which now account for 4% of international sales.
Similarly, other markets such as France and the Netherlands reinforced their presence, increasing by 8% and 15% respectively, according to latest data.