The Algarve has been voted the best worldwide location for Britons buying an overseas holiday home. The accolade was announced in January 2005 on the UK's prestigious Channel 4 television programme, A Place in the Sun. The Algarve again succeeded in being amongst the top most favoured overseas investment destinations in the programme's 2006 worldwide review - coming 3rd behind Estonia and Poland. Portugal was again given the 3rd place on the 12 October 2006 C4 programme "20 Best Places to make money", this time beaten only by the higher risk markets of Poland and Romania. Portugal - a consistent performer, and why? The Algarve easily met the programme's "three P's" criteria:
Pound: How much are you going to have to spend, and is it good value for money?
Practicality: what are the pros and cons of buying there?
Potential: are you going to see a good return on your investment?
Dozens of prime vacation destinations were considered like Florida, Dubai, the French Riviera, and Spain's Costa del Sol. Beating all these familiar destinations for two consecutive years, The Algarve is seen by the British as a Beach destination close to 'home', and benefits from some of Europe's best golf courses, and blessed with practically year-round sunshine. The 2006 programme cited a potential growth over a 10 year period of up to 360%. While all forecasts may fluctuate, in The Algarve property investors can take heart from its proven track record, and an enormous range of property on offer: from the very expensive developments like Quinta do Lago golf resort - giving The Algarve real kudos with its luxurious houses and celebrity owners like Alan Shearer and Michael Owen - to properties with shared pools starting from around £150,000.
While the global property market is always changing, the factors behind this general perception of The Algarve are sustainable - with ever increasing availability of low cost flights, investment in Portugal's road infrastructure, and a number of high quality developments under construction the British love affair with The Algarve looks set to continue.
