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Buying an apartment

Buying an apartment

Old Mar 30th 2015, 8:36 am
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Default Buying an apartment

Hi there. I am considering purchasing an apartment in the Algarve (planning ahead for retirement!). Will be taking a look at the Cabanas/Tavira area soon but have seen comments re build quality of apartment blocks and wondered if there were any that have good reputations re build quality before I begin. I'm also very familiar with the Vilamoura area but you seem to get more for your money to the East. Carvoeiro is another favoured spot but a little longer to get to from airport so trying to be practical for long weekends. Any comments gratefully received. Many thanks in advance.
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Old Mar 30th 2015, 8:44 am
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Default Re: Buying an apartment

Unfortunately the cabanas area was one of the areas in the Algarve worst affected by the crash with large numbers of unsold apartments and unfinished developments.
Do not be rushed by agents who may be tryingbto offload on you properties that have been on their books for years.
Yes you will pay a premium for Villamoura and Carvoeiro.
As a property owner in Carvoeiro one of the reasons why is that there has been very little new build and planning restrictions are enforced.
I suggest you spendcat least a week on a recce trip.visit the areascof interest and identify the area and types of property that interest you.
Property sales in the Algarve have improved significantly with little quality left at the bottom of the market ,even bank owned properties.
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Old Mar 30th 2015, 10:04 am
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Default Re: Buying an apartment

Many thanks for that. We will still look at Carvoeiro too I think, having fond memories of such places as Rocha Brava. The Tavira area will be completely new to us.
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Old Mar 30th 2015, 6:08 pm
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Default Re: Buying an apartment

A few years ago we embarked on the same journey. We wanted a holiday home that could one (rapidly approaching) day be a retirement pad and had identified and visited Tavira and Lagos areas, as we wanted year round towns not holiday resorts.

A place not in a tourist development was also a requirement, and so we sacrificed facilities such as pools etc in return for a quieter area with more full time residents and fewer renters. That came with the bonus of cheaper condominium fees!

We chose an apartment within walking distance of Tavira town centre because we fell for the place. Also we prefer the not so easily accessible and therefore unspoilt beaches, the easy commute from Faro with the option of Seville, and the feel of the east.

A day trip west is still an option, and we enjoy visiting Carvoeiro and places, but like returning 'home' to the east.

We did look at Cabanas but ironically it was pricier back then, and is more touristy.

Wherever you choose, enjoy the hunt!
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Old Mar 30th 2015, 8:38 pm
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Default Re: Buying an apartment

Thank you for that lovely, and encouraging, reply! We are very excited to see somewhere new. As we have a while to retirement yet, a complex with a pool will be needed I think to occupy our kids and to leave us with the option to rent out here and there. Are there any you would suggest as particularly worth a look on that area that are established and have held their popularity if you like. It's important to believe that they have been well maintained thus far and will continue to be so!
Many thanks.
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Old Mar 30th 2015, 8:40 pm
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Default Re: Buying an apartment

Originally Posted by Lelandy
A few years ago we embarked on the same journey. We wanted a holiday home that could one (rapidly approaching) day be a retirement pad and had identified and visited Tavira and Lagos areas, as we wanted year round towns not holiday resorts.

A place not in a tourist development was also a requirement, and so we sacrificed facilities such as pools etc in return for a quieter area with more full time residents and fewer renters. That came with the bonus of cheaper condominium fees!

We chose an apartment within walking distance of Tavira town centre because we fell for the place. Also we prefer the not so easily accessible and therefore unspoilt beaches, the easy commute from Faro with the option of Seville, and the feel of the east.

A day trip west is still an option, and we enjoy visiting Carvoeiro and places, but like returning 'home' to the east.

We did look at Cabanas but ironically it was pricier back then, and is more touristy.

Wherever you choose, enjoy the hunt!
Thank you for that lovely, and encouraging, reply! We are very excited to see somewhere new. As we have a while to retirement yet, a complex with a pool will be needed I think to occupy our kids and to leave us with the option to rent out here and there. Are there any you would suggest as particularly worth a look on that area that are established and have held their popularity if you like. It's important to believe that they have been well maintained thus far and will continue to be so!
Many thanks.
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Old Mar 30th 2015, 9:33 pm
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Default Re: Buying an apartment

And don't forget Fuzeta

We are a really up and coming place lots of affordable and maybe not so affordable places.

And ours is very affordable

Seriously, take your time, research and more research and enjoy your new journey
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Old Mar 31st 2015, 12:23 pm
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Default Re: Buying an apartment

Just adding on to what Jan said - we purchased in Fuzeta, very much loved by all those who find the place - still a bit "unique" compared to the better developed areas - but a lot of money has gone in to a few developments, one of the more affordable places with cracking sea views. We are on the Formosa Village development, it was built 5 or so years ago, and the build quality seems good. It has a good mix of people living / renting / using as holiday home (we fall in the latter category) and is one of the friendliest places you will find. As an earlier poster mentioned - although prices aren't escalating at the moment, quality is going first - with the Euro at its highest for ages it is definitely worth a look.
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Old Mar 31st 2015, 12:32 pm
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Default Re: Buying an apartment

Originally Posted by fuzetajan
And don't forget Fuzeta

We are a really up and coming place lots of affordable and maybe not so affordable places.

And ours is very affordable

Seriously, take your time, research and more research and enjoy your new journey
Excellent. Will try and fit in a look there. Thank you.
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Old Mar 31st 2015, 12:33 pm
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Default Re: Buying an apartment

Originally Posted by ant68
Just adding on to what Jan said - we purchased in Fuzeta, very much loved by all those who find the place - still a bit "unique" compared to the better developed areas - but a lot of money has gone in to a few developments, one of the more affordable places with cracking sea views. We are on the Formosa Village development, it was built 5 or so years ago, and the build quality seems good. It has a good mix of people living / renting / using as holiday home (we fall in the latter category) and is one of the friendliest places you will find. As an earlier poster mentioned - although prices aren't escalating at the moment, quality is going first - with the Euro at its highest for ages it is definitely worth a look.
Very helpful, thank you. Will look for that.
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Old Mar 31st 2015, 4:08 pm
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Default Re: Buying an apartment

Originally Posted by VeganDJH
Thank you for that lovely, and encouraging, reply! We are very excited to see somewhere new. As we have a while to retirement yet, a complex with a pool will be needed I think to occupy our kids and to leave us with the option to rent out here and there. Are there any you would suggest as particularly worth a look on that area that are established and have held their popularity if you like. It's important to believe that they have been well maintained thus far and will continue to be so!
Many thanks.
I can't offer any advice re: best developments with pools I'm afraid, and for full disclosure Tavira has not been immune from the blight of failed/unfinished projects.

One particularly grandiose scheme called The Palmeiras Resort offered five star facilities and properties, and after building their impressive sales office, not a spade has been turned. The once comprehensive website has shrunk back to mere words. Buyer beware, they must have taken some deposits six years ago.

The same applies to Cabanas, where O Pomar might be nice one day if they finish it, and purchasers/investors fingers were burned in other developments (search Cabanas Golf on here).

Take Fuzetajan's advice and take your time. Good luck!
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Old Mar 31st 2015, 4:14 pm
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Default Re: Buying an apartment

Originally Posted by Lelandy
I can't offer any advice re: best developments with pools I'm afraid, and for full disclosure Tavira has not been immune from the blight of failed/unfinished projects.

One particularly grandiose scheme called The Palmeiras Resort offered five star facilities and properties, and after building their impressive sales office, not a spade has been turned. The once comprehensive website has shrunk back to mere words. Buyer beware, they must have taken some deposits six years ago.

The same applies to Cabanas, where O Pomar might be nice one day if they finish it, and purchasers/investors fingers were burned in other developments (search Cabanas Golf on here).

Take Fuzetajan's advice and take your time. Good luck!
Interesting!
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Old Mar 31st 2015, 5:51 pm
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Default Re: Buying an apartment

The irony is that in our area the Chinese have bought complete stalled developments rumoured to be a vehicle for the " golden Visa " scheme.
There is definetly a case that smaller more established developments with a significant existing population of owners are to be preffered.
You may pay a little more but in the long term it will be worth it.
It terms of maximising the potential and income from renting you may find the the central Algarve would be better simply because that is where the majority of tourists go.
High season rates for decent 2 bed apartments on a good development £700/week plus ( gross ).

Last edited by EMR; Mar 31st 2015 at 7:29 pm.
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Old Apr 1st 2015, 2:11 pm
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Default Re: Buying an apartment

There are a few "established" apartment complexes in Cabanas that I think would be worth a look. We recently sold our apartment on Quinta da Gomeira (due to other personal circumstances) but it's a nice development that is well run and looked after, including the pool areas. I've not been inside, but I think also the Cabanas Beach development is nice. Somebody mentioned the O Pomar development not being finished, but what is there is nice. Take into account though that it is that bit further away from the beach and boardwalk. On reflection, if I were buying again in Cabanas, I'd go back to Quinta da Gomeira! Good luck.

We loved being in the East - we visited all the resorts on the West and thoroughly enjoyed it but were always pleased to get back to our little place!
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Old Apr 1st 2015, 5:43 pm
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Default Re: Buying an apartment

Originally Posted by Golfister
There are a few "established" apartment complexes in Cabanas that I think would be worth a look. We recently sold our apartment on Quinta da Gomeira (due to other personal circumstances) but it's a nice development that is well run and looked after, including the pool areas. I've not been inside, but I think also the Cabanas Beach development is nice. Somebody mentioned the O Pomar development not being finished, but what is there is nice. Take into account though that it is that bit further away from the beach and boardwalk. On reflection, if I were buying again in Cabanas, I'd go back to Quinta da Gomeira! Good luck.

We loved being in the East - we visited all the resorts on the West and thoroughly enjoyed it but were always pleased to get back to our little place!
Very helpful! Thanks
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