Engel & Völkers data shows prior to the pandemic that non-resident buyers represented almost 40 percent of the total value of the properties sold in the Algarve, Portugal. However, in the last few months, they have seen an increase in the number of potential Portuguese buyers interested in permanent residences, second homes, or as investments.
These new clients are looking for larger properties, with a private pool, proximity to nature and superior finishes. International investors have not lost interest, but are waiting for the opening of air routes to resume their long-term investment plans in the Algarve.
E&V claims that overall, demand for Algarve luxury real estate has not slowed significantly despite the pandemic.
