Right now, it doesn’t feel like the right time to be buying property. With most countries emerging from lockdown and looking to adjust to the new normal, it doesn’t seem as though you can invest in a property right now. However, many Brits are looking to buy property in the Algarve right now. Is it the right time to invest here?
Why Investors Buy In The Algarve
In the past, there were two main reasons for people to buy property in the Algarve. Firstly, they may buy the property in order to emigrate to the area themselves, especially those that want to retire. It’s a popular retirement spot as it allows people to retire in a warm and pleasant climate.
The other reason is that property is always needed for tourists. Many choose to invest in an Algarve property, and lease it out as a holiday home. The owner then can use it as a holiday home themselves, when they look to go on holiday themselves.
Why Buy In The Algarve Now?
With the events of 2020 so far, it’s hard to see why you should look into buying a home in the Algarve right now. Surely tourism will be at an all-time low?
There are plenty of good reasons why you may want to buy now, though. Right now, with Brexit on the horizon, many are looking to emigrate sooner rather than later. Right now, the final Brexit preparations have been delayed past December 31st 2020, but that delay will probably only last months. If you emigrate now, you’ll still be able to hold onto European benefits such as freedom of movement, healthcare benefits, and so on.
There are other benefits too, so let’s take a look at them now.
Current Health Measures
During the last few months, the Algarve hasn’t been hit as hard by the pandemic as other countries have. In fact, they only saw just over 30,000 confirmed cases, even though it neighbors the much harder hit Spain. Because of this, it has been much easier for the region to recover.
In May, they came out of lockdown and began a phases reopening of the area. The majority of hotels in the Algarve are already open to visitors again. The air-bridge with the UK means that UK visitors no longer need to quarantine when they return to the UK
Even if you’re not ready to go over physically and tour homes, you can still check them out from the comfort of your home. Ideal Homes Portugal are offering virtual property tours and informative webinars to ensure you have all the info you need before you buy. You can buy a property in Portugal from the comfort of your own home.
Reopening Of Tourist Destinations
The Algarve is open for the tourist season. Beaches, restaurants, shops and hotels and the country as a whole are welcoming tourists, with the appropriate measures to keep everyone safe. There’s also plenty of flights available.
If you’re hoping to invest in a holiday home or investment property, then now is the time! Ideal Homes Portugal have a selection of bargain properties available with reductions of up to €200,000!!
There are lots of discounts to take advantage of, and you’ll see that mortgage rates are starting at less than 1%. You could very well grab a bargain right now, so if you’ve been thinking about taking the plunge, now is the time to do so.
There you have it. If you want to invest in property right now, the Algarve is one of the best places to do so. You can get a great property for a good price if you shop around right now.