New Blogs

Dear All,

Its been awhile since my last posting, this has been due to a very hectic 4 months preparing new developments for the summer 2009.

Algarve Property Lifestyle is now developing with Algarve Property Rentals ways to assist property owners here on the Algarve who are looking to rent out their properties.

We are also promoting great new developments such as Laguna Golf Apartments & Villas in Vilamoura a brand new luxury four star development.

Please click on the links and give me back some feedback.

Fly to Let buyers on the starting grid for properties near new motor race track

Portugal has leapt nine places from 12th to 3rd position as the UK’s favourite place to buy property around the world according to the annual top 20 survey conducted by A Place In The Sun magazine. And more tourists and Fly to Let investors are expected to flock to Portugal’s Western Algarve following the recent opening of the Autódromo Internacional do Algarve, a brand new state-of-the-art motor racing track near Portimão.

The Algarve is already renowned for its golf courses, beaches, water sports, culture and good food and wine. With the new venue, the region is expected to welcome a further one million tourists a year.

In November it hosted the Portuguese round of the Superbike World Championships and Formula 1 testing took place in December. Other major international events are scheduled and there is talk of it trying to lure an F1 race in the future.

As well as the circuit, the complex includes a karting track, technology park, 5-star hotel and sports facilities. At around €195m it is the biggest single investment ever in the Algarve and as well as the creation of over 1,000 new jobs, tourist levels are expected to substantially increase as visitors flock to see the sporting contests, all of which should have a positive impact on the local and national economy.

A member of Alderley Edge-based The Emerson Group, Jones Homes Portugal has two residential and leisure developments just 10 minutes drive away from the Autódromo. Both look set to benefit as Fly to Let investors seek to take advantage of higher expected occupancy rates for rental properties in this area.

The opening last year of a brand new clubhouse with fully equipped gym and luxury health spa has enhanced Boavista Golf & Health Spa Resort’s claim to be one of the Algarve’s top golf and holiday destinations.

Located near Lagos, a choice of detached villas and golf village properties start at €365,000 and, under a new freehold quarter share scheme, a 13-week per year rotating occupancy can be purchased from just €112,000.

Jones Homes’ other major development on the Western Algarve, Oásis Parque, is located between Alvor and Portimão. With a country club atmosphere, Oásis Parque has a huge outdoor pool, kiddies’ pool and playground, heated indoor pool, Jacuzzi, tennis courts and on-site restaurant. A range of detached villas and apartments start at €205,000.

As sterling struggles, Britons are selling their places abroad to buy cheaply at home in the UK

The Algarve is also seeing high numbers of British homeowners willing to take a hit on their asking price if they are bringing their euro profits home.

Caroline and Neil Irish, below, are releasing funds by selling their Algarve holiday home

' One British owner has reduced the price of his five- bedroom villa on Gramacho Golf Resort, near Lagos on the Algarve, from €715,000 ( £674,528) to €550,000 (£518,876),' says James Harrison, sales director of golf resort developer Pestana.

' He bought the house eight years ago for €200,000, so he'll still make a good profit and there is now a lot of interest in the property.

' These aren't distressed sales, but some owners are closer to the edge financially than they wanted to be. People need to decide what's best for them in this uncertain market and that often means dropping the price substantially,' Harrison adds.

Caroline Irish, 46, a housewife, and husband Neil, 45, the manager of healthcare company, are willing to a 20 per cent discount on their bedroom flat in Vale da Pinta in Carvoeiro, which is on the for €383,000 ( £361,320 at the exchange rate).

' We are prepared to take a price drop of the way the euro is going because prices of new apartments lower now than we paid two years says Caroline, who lives in Sandbanks in Dorset.

' We bought the flat new, gave it a fresh interior and have spent wonderful holidays there.

' We were hoping to downsize in the UK and spend more time in Portugal, but our UK penthouse, which is on the market for £795,000, hasn't sold, so we are selling the Portuguese property to release funds,' she says, adding that the adverse effect of the exchange rate is that repayments on their Portuguese mortgage have soared.

Lost in Portugal, Bonnie's old villa

Holidaymakers who frequent the resort of Santa Eulalia near Albufeira on the Portuguese Algarve are in for a shock they return in the summer.

Gravelly- voiced singer Bonnie 57, and her property developer husband Robert Sullivan, have knocked down their five-bedroom villa overlooking the to make way for a cutting glass-fronted house.

' We're building on four-and-a-half that meander down to a cove. The land alone is worth 2million,' says Bonnie, who is for hits such as Lost France and Total Eclipse Of Heart.

' The house will cover 10,000sq ft - than our previous home - we've had a water feature to run through the dropping down to a tropical pool landscaped with exotic and trees.

'Robert and I will have the whole of the top storey, below will be three guest suites with balconies and there will be underground parking for everyone.'

Bonnie and Robert, reportedly worth £44million, have an impressive property portfolio that includes three houses and an apartment by the marina in Swansea in Bonnie's native Wales, and 360 acres of land in Berkshire with stabling for 60 horses.

The couple also have a fabulous 1850s house near to Catherine Zeta-Jones's parents in Mumbles, Swansea Bay.

'We're hoping the new build will be worth up to £8million once the market is buoyant again,' says Bonnie, who is currently on tour.

Portugal wins ahead of Spain in the celebrity property market

How Sir Geoff Hurst lost out on his dream property investment in Spain - Should have bought in the Algarve!

Sir Steve Redgrave and Sir Geoff Hurst, who gave endorsements to Spanish developments, have lost out after the schemes were scrapped - as have British investors who were reassured by the sporting stars' involvement.

Redgrave, Hurst and former England World Cup rugby star Tony Underwood were all endorsers and investors in the Royal Marbella Group, which later became the Royal Duja Group.

While some of Royal Duja's projects, such as Royal Cabanas in the Algarve, where Spurs manager Harry Red

Sir Steve Redgrave and Sir Geoff Hurst, who gave endorsements to Spanish developments, have lost out after the schemes were scrapped - as have British investors who were reassured by the sporting stars' involvement.

Redgrave, Hurst and former England World Cup rugby star Tony Underwood were all endorsers and investors in the Royal Marbella Group, which later became the Royal Duja Group.

While some of Royal Duja's projects, such as Royal Cabanas in the Algarve, where Spurs manager Harry Redknapp has invested, have gone ahead, Lince Sanctuario near Seville, where Steve Redgrave invested in a £2million off-plan villa, will never be built.

Redgrave says he got 'a very good price' in 2002 for his proposed five-bedroom house overlooking a lake. In return for a generous discount, Redgrave allowed his face and name to be emblazoned across the Royal Duja Group's billboards.

'It's been a disaster, with the planning permission revoked,' says Redgrave, who has sought legal advice over the issue. Similar to other buyers in the development, he has been offered properties of equivalent value at Arcos Gardens, a golf resort 85 miles away in Arcos de la Frontera.

'That's an acceptable proposal to me,' says Redgrave. 'But I have lost my investment. I've done promotional work for the developer and that was half the payment for the plot I had. I've lost a hell of a lot of time and image.

'I've been talking to Geoff Hurst and he has similar problems. He has invested and he has friends who invested,' says Redgrave.

Hurst's and Underwood's off-plan flats at the former Royal Marbella development at Aldea Beach in Manilva on the Costa del Sol will never get off the drawing board as building licenses were illegally issued by local mayor Pedro Tirado, who was imprisoned for accepting bribes. Hurst is now heading a group action to try to retrieve his and other investors' money.

'I was taken in by the celebrities endorsing Aldea Beach in the brochures,' says one investor, a financial adviser in South-East England who stands to lose £200,000 in deposits on four properties.

'Celebrities have a responsibility to help investors who trusted in the development because of them and have now lost out. There are maybe thousands in my situation, trying to get their money back. We thought we'd bought through Royal Marbella, but our contracts were with holding companies named after each development which the Royal Duja Group will not now honour.'

Algarve Property Services

Stop burning your money and start earning some money.

Are you looking to earn some extra income this year, if so why not look at giving your property to Algarve Property Services, not only will they manage and maintain your property but they will also advertise and generate clients for you.

This is a great way to utilize your asset, earn money to cover your annual expenditure and even maybe earn some money on the way.

Algarve Property Services is part of the growing group of companies which are part of the APLNET GROUP. Through this group of companies you will be able to find professional help and assistance through a host of service which may be found at Algarve Property Lifestyle.

Is this a good time to sell your Portuguese property?

Well, if you are thinking of putting your property on the market and you are from the UK then "Yes" is the answer. A friend of mine who owns a townhouse in Pera has a neighbour who purchased his property 3 years ago for €235,000 and has just sold it for €225,000 through www.aplnet.co.uk.

Now you may be thinking "That's lost money?" Well under normal circumstances you would be right but these are not normal times as 3 years ago when the owner purchased they got an exchange rate of €1.53 to the £1 so in sterling they paid around £154,000.

Today they changed the money through FC Exchange and received just over £215,000 with an exchange rate of 1 EUR = 0.956749 GBP and the best part is that they are not eligible for Capitol Gains Tax.

So if you set your price based on Sterling you maybe on to a winner and make a profit of £61,000.

HOLIDAY TRENDS 2009

Research carried out in November by Thomson and First Choice ¹, illustrates that Brits no longer consider their summer holidays a luxury, but a necessity, with 88% of those surveyed willing to cutback in other areas rather than forego their annual holiday.

With Britain experiencing the coolest start to winter in over 30 years², thoughts are now turning to sunnier climes and as we gear up towards January and the traditional peak booking period, Thomson and First Choice Customer Director Tim Williamson, answers some questions regarding travel in 2009.

Why are holidays being seen as necessity rather than luxury? How has this trend occurred?

We have some of the longest working hours in Europe - the harder people work, the greater the need to get away from it all, not just to recharge the batteries, but also to spend quality time with their families.

What does this research mean for the holiday industry?

As parent-company TUI's recent results show, the merged company has performed well in its first year of operation. Although we can't comment on behalf of the entire industry, from our perspective, customers indicate that they still want to go away. In addition, and in light of the demise of XL and Zoom, more and more customers are aware of the value of going on holiday with a financially robust company such as Thomson or First Choice, where holidays are protected under the Government backed ATOL scheme.

What kind of holidays will Brits be looking for in 2009?

For both Thomson and First Choice we’re expecting the top short haul destinations for summer 2009 holidays to be the Balearics, Mainland Spain, the Algarve, Italy and Madeira. For mid haul, Greece, the Canaries, Turkey, Cyprus and Egypt look set to top the list and further afield Mexico, Florida, Dominican Republic and Cuba.

This should be encouraging news for property owners looking to rent properties in 2009. If you have a property to rent in 2009, why not look at the services of Ideias Silenciosas Lda part of the APLNET Group who offer a pay-by-use service for their clients.

Motoring On

Tourists and property investors are expected to flock to Portugal's western Algarve following the opening of a new race track...

The western Algarve is expected to defy the gloom and doom after the recent opening of the Autódromo Internacional do Algarve.

The new state-of-the-art race track near Portimão is expected to attract even more tourists and property investors to the region.

Portugal is now one of the top five destinations for people from the UK who are seeking homes abroad.

The Algarve is already renowned for it golf courses, beaches, water sports, culture and good food and wine. With the new race track the region is expected to welcome a further one million tourists a year.

In November it hosted the Portuguese round of the Superbike World Championships and Formula 1 testing took place there earlier this month.

Other major international events are scheduled and there is talk of trying to lure an F1 race in the future.

As well as the circuit the complex includes a karting track, technology park, five-star hotel and sports facilities. Costing around £183 million to build it is the biggest single investment ever in the Algarve and as well as creating 1,000 new jobs, tourist levels are expected to substantially increase a visitors flock to see the sporting events, all of which should have a positive impact on the local and national economy.

Last year a brand new clubhouse with fully equipped gym and health spa opened at Boavista Golf Resort, a huge bonus for property owners and guests. Located near Lagos, a choice of detached villas and golf properties start at £345,200 and, under a new freehold quarter share scheme, a 13-week per year rotating occupancy can be purchased from just £105,000.

For property opportunities visit www.aplnet.co.uk or for information on holiday at either of these resorts see www.barringtons-pt.com

Government gets tough with banks

THE PORTUGUESE banking system has given the government short shrift after the Finance Minister ordered it to start lending or face having credit guarantees withdrawn.

Finance Minister Fernando Teixeira dos Santos, under pressure from associations representing small and medium-sized businesses (SMEs), has told the banking system that with state guarantees underpinning bank-to-bank loans, Portuguese banks can now go and borrow capital to lend on the international money markets.

But despite not making any official statements, the banks aren’t budging after the European Central Bank downgraded the value of Portuguese government backing worth two billion euros on a key loan to Caixa Geral de Depósitos to only 1.2 billion euros.

In other words, the European Central Banks don’t believe that the Portuguese state is as financially sound as it claims it is.

Back in November, the Portuguese government pledged, in line with other European Union countries, to back bank credit loans on the international market for the nations banking system to the tune of 20 billion euros.

The government now says that with such backing, there is no reason why Portuguese banks can’t start lending to their clients at reasonable market rates again.

Instead, Portuguese banks are either charging exorbitant interest rates to lend or are only lending short-term - at a rate of days, weeks or a few months rather than years.

Now, the finance minister has admitted that the government may have to re-think its system of guarantees offered to the banking system, penalising those that don’t or won’t lend.

Officially, the line from the Portuguese Banking Association is that its members are not putting the brakes on loans to small and medium companies.

But according to anonymous banking sources quoted in the daily paper, Diário de Notícias, the comments by the Finance Minister on Tuesday evening can only be interpreted as a way of “encouraging SMEs to negotiate with the banks for credit lines to supply their businesses”.

According to business associations, some banks are using the government-backed credit lines to either shore up their own balance sheets or lend only to pre-existing clients, allowing those clients to liquidate their loans and take out new ones at new, harsher rates of up to 2.5 percentage points because of the dearth in liquidity and increased risk.

Up until now, only Caixa Geral de Depósitos (CGD) has used government-backed guarantees by issuing a 1.2 billion euro bond – the most it managed to borrow from the market.

Apart from the government-owned bank, both Millennium bcp and Banco Espírito Santo (BES) have now stated the intention to use the state-backed assurance to borrow on the open market, even though neither institution has yet done so in practice.

“The Finance Minister’s threats to remove guarantees for credit will only serve to create a negative financial image of Portugal on the international money markets,” said a senior banking source.

Property Slowdown

SECOND HOME sales are slowing abruptly in Portugal as a result of falling demand caused by concerns over the current financial situation.

Classified by the Portuguese government as a strategic product, residential tourism has been one of the segments most affected by the international economic downturn with effects being felt almost immediately.

“We have registered a decrease in demand for second homes,” says Eduardo Abreu of Neoturis, whose opinion is in line with other property sector analysts.

Although there are no official statistics, most real estate companies dealing with the second homes market agree that sales have fallen considerably in relation to previous years, both in Portugal and Spain.

Less visitors

The autumn 2008 report ‘Marketbeat’, published by Cushman & Wakefield, states that “since the beginning of the year, the majority of developments have suffered a considerable reduction in the number of visitors with sales being far from what most promoters would have desired.”

Second home demand in Portugal is intrinsically tied up with the residential tourism sector projects since these are the main suppliers of the market.

The contraction of markets in two of Portugal’s main target countries – Ireland and the United Kingdom - explains, to a great extent, this collapse in demand.

“Market realities have changed and investment from two of Portugal’s main sources of second homes, the United Kingdom and Ireland, have dried up as banks there make mortgages more difficult,” explained Paulo Sousa, the Real Estate Financial Director at Caixa Geral de Depósitos during a conference organised by the magazine Vida Imobiliária.

Eduardo Abreu has no doubts however, that the contraction in the Portuguese market results from a number of different factors and that it “could last between three and four years”.

“In the last 30 years, the number of properties sold to foreigners in Portugal has stood at around 80,000 houses, while in the next few years the number of properties available for sale will stand at around 250,000 properties creating a glut of vacant properties that no-one wants to buy,” he warns.

In other words, the property market here, as in Spain, made projections for growth in the good times that clearly have fallen well short of the actual market demand situation.

Property Management

Are you a property owner and not here permanently? If so, you should look at the services now being offered at www.iboughtportugal.com, they offer property management on weekly and monthly contracts so you are only being charged for the time you use their services.

Although based in Almancil, they cover the whole of the Algarve with a team of technicians and cleaning staff working locally and are on call 24/7 all year round.

"Unlike other property management companies who tie you into a 12 month contract, we offer a tailored agreement to suit our clients." said Graham Stewart, one of the Directors and General Manager of Barringtons Hotel Golf & Spa Resort in Vale do Lobo.

"And having the experience of running a hotel and serviced properties for more than 16 years gives us the experience and the trust of our valued customers." he continued.

"Also, we can offer the property for rentals under our hotel umbrella and increase your potential rental income as our client's are always looking for new properties to holiday in."

10 Reasons To Visit The Algarve!

If you’re looking to calm down and get pleasure from the local landscapes, Falésia is perfect for a day on the beach with its surrounding strange red colored cliffs. Bounded on three sides by pine-clad cliffs, Olhos de Água is a nice place close at hand.

Vilamoura has something for everyone. It is a place for rest and leisure, but also for acting on lively pastimes and sports; a welcoming and secure residential haven, but also maryland online courses and thrilling night-life centre. It is especially popular with sports enthusiasts because of its brilliant facilities. The wide variety of high standard accommodation facilities of Algarve makes it perfect place for all needs.

Albufeira is well-known for its beaches where the sand is fine and the sea a greenish blue, sheltered by a steep high face of rocks famous for the shades and tones, which make them, appear like painted maryland online courses In spite of this, the fine streets and whitewashed houses of this aged fishing village perched over a charming beach filled with bright ornamented fishing boats must not be overlooked.

Salgados, located between Albufeira and Armaçăo de Pera, is already one of the symbols of the Portuguese golf. The closeness of the sea and the diversity of lakes online courses it a very appealing test of golfing skills. The place has may championship level golf courses designed by many renowned names of golf.

The hilly area of Monchique is quite exceptional, and the mellowest part of the Algarve. Its attractive mountain-top village having amusing natural thermal spa is known since Roman times. It is quiet fantabulous to watch stunning eyeshots from the top.

Having profusion of picturesque shops and market places to buy locally produced goods, Algarve has many shopping centers, such as Modelo, Forum Algarve, Algarve Shopping, and Quinta Shopping at Faro, where you create online courses find stylish products and dress stores. The food here has charms from the nearby traditions of Portugal, Spain and North Africa.

Silves Castle is nice place to have glimpses of the Algarve history; the castle displays some of the details around its past times important Moorish capital, especially from the 11th to the 13th Century. online courses red sandstone castle is not only a great historical repositories comprising the famous Museum of Cork, but also famous for chic cafes, restaurants and bars and local golf and horse riding sites.

Carvoeiro is an active fishing village that has turned into popular for Algarve villa holidays in recent years. The place is great market place for fresh fish and locally produced fruit and vegetables. There are four lovely sandy beaches plus plenty of shops, bars eateries, drugstores, banks, etc.

Located at just a 10 minute drive from Casa Rosa, the Ria Formosa Nature Park is a wintering ground for many migratory birds. The Estuary has a huge variety of natural habitats, which provides sanctuary and feeding-breeding areas for an infinite number of live organisms.

Western Algarve: motoring on

Tourists and property investors are expected to flock to Portugal's western Algarve following the opening of a new race track... The western Algarve is expected to defy the gloom and doom after the recent opening of the Autódromo Internacional do Algarve.

The new state-of-the-art race track near Portimão is expected to attract even more tourists and property investors to the region.

Portugal is now one of the top five destinations for people from the UK who are seeking homes abroad.

The Algarve is already renowned for it golf courses, beaches, water sports, culture and good food and wine. With the new race track the region is expected to welcome a further one million tourists a year.

In November it hosted the Portuguese round of the Superbike World Championships and Formula 1 testing took place there earlier this month.

Other major international events are scheduled and there is talk of trying to lure an F1 race in the future.

As well as the circuit the complex includes a karting track, technology park, five-star hotel and sports facilities. Costing around £183 million to build it is the biggest single investment ever in the Algarve and as well as creating 1,000 new jobs, tourist levels are expected to substantially increase a visitors flock to see the sporting events, all of which should have a positive impact on the local and national economy.

A member of Alderley Edge-based The Emerson Group, Jones Homes Portugal has two residential and leisure developments just 10 minutes away from Autódromo. Both look set to benefit as buy-to-let investors seek to take advantage of higher expected occupancy rates for rental properties in this area.

Last year a brand new clubhouse with fully equipped gym and health spa opened at Boavista Golf Resort, a huge bonus for property owners and guests. Located near Lagos, a choice of detached villas and golf properties start at £345,200 and, under a new freehold quarter share scheme, a 13-week per year rotating occupancy can be purchased from just £105,000.

Portugal's Silver Coast shines bright

ÓBIDOS, Portugal: After years of planning and debate, several large-scale projects are coming to fruition along the pine-tree covered stretch of coastline known as the Silver Coast.

In September, Bom Sucesso, a 200-hectare, or 500-acre, development about an hour north of Lisbon, opened an 18-hole golf course designed by Donald Steel, only the second championship-level course in the area. The modernist "design resort," which features villas designed by 23 different architects, will eventually include more than 850 residential units, a hotel and spa.

Nearby, work is progressing on two other master-planned developments, Royal Óbidos Spa & Golf Resort and Quintas de Óbidos Country Club, which will add another 700 homes to the area. Both are expected to be completed within the next three years.

The new development activity is centered near the medieval walled city of Óbidos, one of the most popular tourist attractions in Portugal. Along the coast, the biggest city is Peniche, a fishing port and home for the ferry to the Ilha da Berlenga, a nature reserve off the coast.

Until recently, large-scale developments were rare in the area. Strict environmental regulations imposed by the government prohibit the type of high density beach developments commonly found in the Algarve, on the southern coast of Portugal.

"Lots of mistakes were made" in the south, said Charles Roberts, manager of the Greater Lisbon office of the International Realty Group, a Christie's Great Estate affiliate. "They can't undo them, but now they are very protective."

The new projects are attracting the attention of both investors and second-home buyers. Real estate company Knight Frank recently singled out the Silver Coast as one of its top emerging property markets in the world, noting, "the area enjoys a high level of seclusion unlikely to be broken by lower quality developments."

The Silver Coast has been "overlooked as a location because the Algarve has been very, very popular," said John Leahy, director of Aria Wealth & Investment Limited, a Dublin-based wealth management firm.

Leahy recently purchased three units in Bom Sucesso, where villas designed by such architects as David Chipperfield and Carlos Prata typically sell for between €345,000 and €1.4 million, or $432,000 to $1.7 million. Six of his clients have also purchased in the development.

"One of the things I like is that it is less developed," Leahy said. "What doesn't appeal to me are the high rises that have come to the Costa del Sol and other parts of Spain."

The Silver Coast is also less expensive than the Algarve. While the average high-end villa in the west Algarve costs about €823,000, a similar house on the Silver Coast is closer to €643,000, according to the International Realty Group's research.

The oldest and best known project along the Silver Coast is the Praia d'El Rey Golf & Beach Resort, which opened in 1997. The development covers 230 hectares and will eventually include more than 1,000 residential units.

Two years ago, Colin Potter, a semi-retired telecommunications executive from Portsmouth, bought a three-bedroom townhouse in Praia d'El Rey for about €400,000. He recently resold it for about the same price and paid €900,000 for a bigger land plot with a four-bedroom villa of 350 square meters, or about 3,750 square feet.

"We wouldn't like the Algarve - it's too busy and get's a lot hotter," Potter said. "To walk on the beach here in February in shorts and have the beach to yourself, it's fantastic."

To many buyers in Praia d'El Rey, golf is the main attraction. The development's links course running along the coastline is routinely named one of the top golf courses in Portugal and often hosts international tournaments. Eighty percent of the homeowners in the development play golf, according to golf director Eduardo Johnston da Silva.

Developers say they hope new courses will help grow the area as a golf destination. In addition to the recently opened course at Bom Sucesso, the Royal Óbidos project includes a course designed by Seve Ballesteros, which is expected to open in 2011.

Covering 136 hectares, the Royal Óbidos development includes an array of apartments and villas priced between €395,000 and €995,000, including fractional units and "lock-off apartments" which allow owners to separate a portion of the apartment for easy rentals.

But golf is not the only draw in the area. The centerpiece of the Quintas de Óbidos Country Club is an equestrian center, marketed with the help of the world champion show jumper Jessica Kürten. The 79 villas in Quintas de Óbidos, each on 1.3 acres, average 790 square meters and range from €1.5 million to €1.9 million.

"Golf is an important attraction, but we also have different sports," said Miguel Abreu, managing director of Quintas de Óbidos.

Developers in the area report brisk sales over the past year, despite the global slowdown. At Bom Sucesso, about 85 percent of the units in the first two phases have sold, according to David Mendel, overseas sales manager. About 30 percent of the Bom Sucesso buyers are from Portugal, with the rest coming primarily from Britain and Scandinavia, he said.

"It's not a foreigner's only development," he said.

Praia d'El Rey, which received permits to build along the coast before the current regulations were imposed, is also expanding. Earlier this year Praia sold 11 of 14 two- and three-bedroom apartments on the coast, priced between €350,000 and €550,000.

In September, Praia started selling a collection of 53 two-bedroom to four-bedroom beachfront units, ranging from €458,000 to €1.4 million. Praia expects to begin construction on a new golf course in late 2009, contingent on the approval of planning and environmental studies.

Local industry executives say the scarcity of developable land in the area should keep demand high.

"There will only be a finite number of developments around Óbidos," Mendel said. "That has to be good for people who buy."

Creating a balance of tourism in the Algarve

TRADITIONAL TOURIST hotspots in the Algarve will take a back seat if new proposals for future bed supply are adopted.

The plan by the CCDR, the regional development commission, has been submitted to Câmaras throughout the Algarve suggesting that there should be a further 24,000 beds for tourists in the region, with priority for inland municipalities and those at the extreme edges of the Algarve.

The area with the most new beds is set to be Alcoutim, where some 3,000 beds have been authorised, a rise of 62 per cent from the existing number of 4,776 beds in the area.

President of Alcoutim Câmara, Francisco Amaral, said: “This is a great opportunity to change the dynamics of the Algarve which tends to favour coastal regions and forget those in the interior. This should even the equilibrium of the Algarve.”

Aljezur, in the far north west of the Algarve, is also set to see the number of beds increase dramatically with a further 2,700 recommended by the CCDR, a rise of 33 per cent of the total number of beds. Monchique is also a winner in the report with an increase of 41 per cent in the number of beds suggested by the CCDR.

The report shows that central coastal areas, already popular with tourists, will be designated a large number of beds also, however, when this is looked at as a percentage increase it is clear that the CCDR are not actively encouraging a rise in tourism in these areas.

Criticism

The CCDR has proposed a further 1,840 beds in the Loulé municipality, just a 1.5 per cent increase, while other Câmaras have fared even worse, with Albufeira being granted an increase of just 0.5 per cent and Portimão only 0.9 per cent.

The report, which details the proposed distribution of 24,000 hotel beds, has been met with criticism from the head of the Algarve association for hotels and tourism (AHETA), Elidérico Viegas, who believes the proposal implies that the government can determine the use of private land, restricting private enterprise.

He said: “What criteria were used to decide the total number of beds? Why can it not be a different number?”

João Faria, president of the CCDR in the Algarve, made it clear though that this is only the beginning of a process and Câmaras were yet to respond to the proposals.

He said: “When all opinions have been aired, we will assess the situation again. We hope there will be a final result of the proposal in 2010.”

Tony Dorigo has turned property developer

The Algarve's upmarket Quinta do Lago estate, with its large villas backing on to various golf courses, is home to Michael Owen, Alan Shearer and Dragons' Den star Peter Jones.

Recently, footballer Robbie Fowler and manager Gareth Southgate have joined a similarly star-studded list of buyers along with Jose Mourinho at the new neighbouring six-star resort, Palacio da Quinta.

Now former England defender Tony Dorigo has turned property developer in a beachside village two miles from the new £150million Autodromo Internacional Formula 1 race track at Portimao, and 40 minutes from Faro Airport.

Dorigo, who won 15 England caps before retiring in 2001 and becoming a TV pundit, now runs Premiership Developments and is building the five-star Parque Vale da Lapa resort, set in 15 acres with sports and spa facilities, where 20 of the 85 properties have been sold off-plan.

'I used to train on the Algarve when I was playing but my only investments then were flats in Manchester and Burnley,' says Dorigo, 42, who lives in Hartford, Cheshire, with his wife Heather, 41, sons Luke, 20, and Todd, 17, and daughter Sasha, 14.

'Then I saw this plot in Carvoeiro with beautiful sea views and decided to create this development.

The good thing is Portugal is not a Bulgaria about to explode. It's not easy to get planning permission but that helps protect it from overdevelopment.

'Most of the footballers with homes on the Algarve, including Steven Gerrard and Paul Ince, want big, private villas, which is why they choose Quinta do Lago. My development will have fivestar facilities but you won't have to pay £4million for a house. It's also a more personal, quaint setting.'

The average holiday-home buyer is still showing confidence in Portugal, which is weathering Europe's downturn better than Spain. Tourist numbers on the Algarve were up ten per cent last year and Ryanair is launching new winter flights to Faro from East Midlands and Liverpool.

To find out more information on buying property abroad visit APLNET

Coast of plenty

MENTION Portugal and most of us immediately think of the Algarve.

But while the Algarve is undoubtedly a jewel in Portugal’s crown there is a serious rival in Lisbon’s Silver Coast.

The International Association of Golf Tour Operators named the Lisbon Silver Coast as Golf Destination of the Year last year and with half a dozen quality courses there – generally cheaper than the Algarve’s – it’s easy to see why.

But there’s more to the Silver Coast than golf.

At just over two hours flying time from the Midlands, the Oeste region is rarely as crowded as the Algarve and there seems a lot more to see and do.

Enchanting towns to visit include Obidos, Peniche and Torres Vedras and there are many stunning beaches, wonderful restaurants and wineries and excellent hotels.

There’s accommodation to suit every pocket with top-of-the-range hotels such as Marriott Praia D’El Rey and the Westin CampoReal, which both have their own top-quality golf courses, and plenty of other activities to keep the golfing widows and kids happy.

If you don’t fancy staying in the hotel, there are good townhouse and villa options at both Marriott Praia D’El Rey and the Westin CampoReal.

Coming on stream soon is the revamped Golden Eagle complex and new Bom Sucesso resort, both of which boast quality golf courses.

These are fine additions to a list that includes Quinta da Marinha Oitavos and Clube de Golfe da Quinta da Marinha (Cascai), Penha Longa, Belas Clube de Campo, Botada, Vimeiro and Lisbon Sports Cub.

The stunningly picturesque layout at Praia D’El Rey with contrasting loops set in pine forest and among undulating dunes with spectacular views over the Atlantic is a real challenge.

A ten-minute drive away is the famous Obidos Lagoon, where windsurfing, kitesurfing and sailing are available. Then there’s surfing at Baleal and Peniche – also only ten minutes away – and Peniche is Portugal’s largest fishing port and a great place to eat with a string of excellent restaurants.

There’s plenty of shopping at Caldas de Rainha, 20 minutes drive away, but if you’d rather stay on the complex and in self-catering, there is a resort grocery store and there are shops in the nearby village of Serra del Rei.

In addition to the golf course, the resort also has seven all-weather tennis courts and an academy, horse-riding, a good bar/restaurant and games room in the golf clubhouse plus a health club and two restaurants in the hotel, which has stunning walks and views of the coast. During the summer and half-term holidays Club Adventura offers supervised activities for children from six to 16 years. Activities range from paint balling to surfing.

Designed by Rocky Roquemore, the course at the Golden Eagle Residence and Golf Resort meanders through rolling hills and pine trees with nine lakes, thanks to a recent revamp.

Onsite facilities include a restaurant, a pro shop and academy, driving range and a short game area. Bom Sucesso is said to be Donald Steel’s swansong and the course is the centrepiece of a massive development and boats a spectacular finish – the drive at 17, a 530-metre dogleg par five is simply awesome.

Standing on the tee reveals the whole vista of the surrounding area, the lagoon of Obidos and the distant mountains to the east, the resort to the north and the sea to the west and forest to the south. The course is at the centre of more than 1,000 uniquely designed properties, five-star hotel and spa. It is no ordinary development as the villas and townhouses have been designed by some of the world’s best contemporary architects.

The resort will have varied options to buy or rent and from next year it will be possible to enjoy a stay at Bom Sucesso in one of the specially designed townhouses, villas or apartments.

The Westin CampoReal Golf Resort and Spa boasts a truly magnificent five-star hotel and it’s just 30 minutes from Lisbon. It also boasts a Donald Steel course and is a real test of your driving ability on some holes.

The Westin CampoReal Golf Resort and Spa boasts a truly magnificent five–star hotel and it’s just 30 minutes from Lisbon. The resort is also an equestrian centre, not surprising as the resort occupies land formerly used by the Portuguese royal family as hunting ground. The nearest village, Turcifal, has a charming old quarter and nearby is Torres Vedras, the region’s lively commercial centre.

The Oeste region is a cultural delight with monasteries, convents, castles, churches, and museums.

It is also home to famous traditions in porcelain and crystal, food, and some great wines – and there’s always the opportunity of a day trip to Lisbon with all it has to offer.

To find more information and to arrange a Inspection Visit please see Algarve Property Lifestyle
for further information.

Environment Friendly Development Wins Award

AlmaVerde Village & Spa in the Western Algarve of Portugal is a new eco resort and spa. It has received two highly coveted Homes Overseas Awards for Best Sustainable Development (Gold) and Best Portuguese Development (Silver). These add to an impressive roll call of accolades including several 2007 Homes Overseas Awards and a European Royal Award for Sustainability.
The criteria for Best Sustainable Development included friendliness to the environment, to the local population and to the pocket, measures taken to conserve energy and water, low running costs and the use of 'green' building materials and practices. Also considered was the extent to which a development’s design is in keeping with the local natural and cultural environment. AlmaVerde’s entry included its “signature” environmentally friendly construction initiatives: Sun-dried clay adobe bricks for thermal mass, a complete external insulation envelope and Coolhouse, an innovative air cooling technology, the combination of which reduces carbon emissions by a staggering 94%.

Entering The Best Portuguese Development category for the first time in 2008, AlmaVerde was assessed as to the quality, design and location of the development, taking into account local considerations that impact upon its 'usability'. Additionally, ease of access, value for money, travel and communication links, local amenities and leisure facilities were all reviewed.

Director of Architecture Jes Mainwaring, who was on hand to accept the awards, said: “We are thrilled to accept these awards. They are a tribute to our continuing commitment to low impact and end-to-end sustainability. AlmaVerde is a unique development and recognition from industry experts such as Homes Overseas is a great endorsement.”

Natalia Gameson, a judge for the 2008 awards who visited the development as a journalist in October said: “As Portugal’s Algarve moves further towards a more sustainable standard of living, it’s refreshing to see that housing in the region is already anticipating the country’s environmental targets. The AlmaVerde team must be congratulated on a great scheme, a true blueprint project for sustainable design in the region.”

The Homes Overseas Awards are highly regarded in the property industry as entries are judged solely on merit. Every short-listed development is visited and assessed by a member of the judging panel – a process unique to the Homes Overseas Awards.

To find more information and to arrange a Inspection Visit please see Algarve Property Lifestyle
for further information.