Answers to all Your Algarve Questions
Here are some of the most popular questions, along with the answers we are asked regarding living in the Algarve. Feel free to get in touch if you have any you would like added. Most of the topics are answered in full in our latest news section. However, you can find the links to the relevant articles in the answers below for more information.
Algarve Property Searches
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.
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.