Algarve FAQ’s

From an overall perspective, the weather in the Algarve is one of the best in Europe if not the world. On average there are over 300 days producing 3,000 hours of sunshine in the Algarve making it one of the sunniest regions in Europe and comparable to California in the USA. The temperature begins to rise around the end of April and the sun can continue to shine right through to the end of November with very little rainfall during that time. Summer temperatures can hit heights of over 40°C in July and August. Although the daily average would be between 30-35°C.

The cold winter in the Algarve runs from the beginning of December to the end of January, so a short period compared to many other European countries. The sun is normally still shining and warm until the end of November and begins again from around the middle of February, the temperatures start to rise again after a few months of a cold snap in December and January. During the daytime, the temperatures can still reach a warm 16-25°C however it can get a little chilly in the mornings and late evening with temperatures dropping to lows of 5-10°C. However, don’t expect any white Christmases, although snow has fallen at the highest point up in the mountains of Monchique many years ago, it has been almost 20 years since it hit the coastal areas.

Getting around the Algarve is very easy and also inexpensive whichever mode you choose. We find the easiest and most convenient way to get around the Algarve is by car. This is the quickest way to travel between towns and cities. If you don’t have your own car there are plenty of hire companies across the region. They are quite expensive during the summer months but out of peak season, you can find cheap deals. There are three main bus companies operating in the Algarve region, You can buy tickets at the bus stations online, or pay the driver. You can catch a bus to all the main towns and cities in the Algarve. Ubers are cheap and in abundance, there are also lots of normal taxis but tend to be a little more expensive. The train line runs between Lagos and Vila Real de Santo António, so it’s quite easy to get from the west of the Algarve to the east. 

Obviously, the first and easiest way to reach the Algarve is by plane. With regular flights from the UK and most European cities, the Algarve is very accessible to everyone. The best airport to fly to is Faro, alternatives within a 2-hour drive include Lisbon other options include Seville and Jerez de la Frontera in Spain. There are direct flights to Faro from most UK airports with Ryanair, Easyjet, British Airways, Tui, BA City Flyer, Wizz Air UK and Qatar Airways. Most are reasonably priced apart from during the school holidays of course! In winter flights can be picked up for as little as £10 with Ryanair! Other modes of transport include driving, again there are many routes for ferry crossings and of course the channel tunnel route. The ferry from Dover to Calais only takes 90 minutes, whereas from Southampton or Plymouth down to Santander or Bilbao it takes between 20-30 hours depending on the operator and starting point. The most popular carrier would be Brittany Ferries and prices range from £240-400 depending on the season.

The length of time it takes to buy a house in the Algarve can vary, depending on the complexity of the sale, the availability of financing, and the presence of any legal or bureaucratic obstacles. On average, it may take anywhere from a few months to a year to complete the process of buying a house in Portugal.

Below is a brief outline of the steps involved in buying a house in the Algarve:

Firstly work out your budget and financing options: You’ll need to determine how much you can afford to spend on a property and whether you will need to acquire a mortgage.

Find a knowledgeable Algarve estate agent: Working with a local estate agent who is familiar with the Algarve property market can be helpful in ensuring everything goes smoothly.

Start your search for properties: Once you have a general idea of your budget and financing options, you can start searching for properties that meet your criteria.

Schedule viewings of eligible properties: If you find a property that interests you, you will want to schedule a viewing so you can get a better sense of the property, its condition and its location.

Make a formal offer: If you decide to make an offer on a property, your Algarve estate agent can help you negotiate the terms of the sale.

Conduct due diligence: Before finalizing the purchase, you’ll want to conduct due diligence to make sure there are no unexpected problems with the property, such as outstanding debts or legal disputes.

Sign a purchase agreement: If both parties agree to the terms of the sale, you will sign a purchase agreement that outlines the terms and conditions of the sale.

Complete the sale: After signing the purchase agreement, you will need to complete the sale by arranging the transfer of the funds for the purchase price. You can then register the property in your name.

The process of buying a house in the Algarve can take several months, sometimes a little longer, depending on the condition of the sale and any legal or bureaucratic obstacles.

To find a repossessed bank property for sale in the Algarve you can find a selection of bank-owned properties for sale on our website or directly from banks in some cases. 

While bank-repossessed properties for sale in the Algarve are not as popular and widespread as in other countries, there are still quite a few to be found.

When the owners’ circumstances suddenly change at home, unfortunately, the holiday home is the first to suffer, hence the banks repossess the property to sell in order to cover the cost of the mortgage taken out. 

If you are searching for repossessed properties for sale in the Algarve then we at Gatehouse International are here to help.

Algarve bank repossessions are becoming a more and more popular option for foreign buyers to get a bargain property in the Algarve. 

With many bargain-priced villas and apartments that have been repossessed by the banks for sale in the Algarve, it’s a great way to get a bargain. 

It is still possible to find a cheap property in the Algarve, here are the best places to look.

The further you move away from the sea and tourist locations the cheaper the price gets.

It seems the further you move from Faro airport the cheaper the properties get. 

Searching for properties outside of cities, towns and villages can unearth some cheaper properties.

Properties in need of renovation or updating can throw up some cheap options.

Buying a plot of land in the Algarve and building your own house can be cheaper than buying an existing property.

Buying a turnkey project can work out cheaper than buying an existing property.

Buying off-plan from constructors, before the project has been started, can be 10-30% cheaper than the finished property.

Owners of properties that have been on the market for some time are often open to negotiating a cheaper price. It is always worth a chance and even if the reply is negative it costs nothing.

Look out for bank repossessions for sale in the Algarve, they are normally sold at 10-20% cheaper than the market value.

Recently reduced Algarve properties are another great way to pick up a cheaper property. 

Fortunately, Portugal does have an outstanding record for welcoming ex-pats. The conditions for foreigners getting a mortgage are more or less straightforward.

If you are a foreigner or non-resident of Portugal looking to buy Algarve property and are looking to do so with a mortgage to finance the purchase, now is a great time to do so as the banks are now lending again due to the economic recovery in Portugal and the solid state of the property market.

For the most part, mortgages are the most popular way to finance buying a property in Portugal. Not only can residents apply for a mortgage from Portuguese banks but non-residents are also able.

The current variable mortgage rate in Portugal starts at approximately 3.3% per year based on a 30% loan to the overall value of the property. 

Those rates can increase if you require more finance for instance 60% to 70% loan to property value. If you are looking for fixed rates they are available at around 4.1% for up to 5 years based on loan-to-value ratios of up to 70%.