A couple of years ago we filmed a vlog, outlining a little about economic cycles and how the market in the Quinta do Lago/Vale do Lobo area perform historically. I mentioned that each time the drive is even stronger and that then, September 2015 was no exception. Just over 18 months later, the speed at which the market has changed is just astounding.
Regardless of Brexit and all that has occurred in British politics, a defeated Le pen, Trump and more, it just seems that the world is looking at continental Europe´s most peaceful country, ranked 3rd in the world. Right now this news is going viral, not only about the passive nature of the Portuguese people, the great food, golf and beach climate, but even the economic scenario is something to boast strongly about according to the article in the FT on the 22 May 2017, stating that Portugal has passed a milestone on overcoming the debt crisis as the European Commission announced that the budget deficit fell 2% of GDP in 2016, well below the set out and the lowest since joining the single currency in 1999. Portugal finally exists the EU budget procedure 6 years after bailout.
Transatlantic tourism is higher than before and Europeans in general, of all nationalities have woken up to Europe’s secret haven. Although still predominantly British, the central Algarve is coming more cosmopolitan than ever with the renewed demand from the Irish and growing demand from northern Europe and central Europe, our challenge is finding property to fulfil this demand, so if you would consider selling, please do get in touch with us.
Last September Mapro Real Estate became a member of the Knight Frank Global Network exclusively representing them in the Central Algarve. We are very proud to become a part of such an incredibly distinguished real estate family, and look forward to building on more international network reference with them.
We will be formally sharing more news about this partnership in the future. If you haven’t yet read their International View 2017 or The Knight Frank Wealth Report 2017 we shared on social media, then please click on the links provided. Wishing you all a very happy and safe summer, we look forward to receiving you in the sunshine.