We've noticed that work has started on the plot opposite Mini Preco again. Anyone any idea of what's going up there?

Yes. There will be apartments and town houses in that location at some stage, I think (only think) that it will be another Spanish build. But as you know (and see) they have to put the infrastructure in first then come along with the big machines and drive all over it to dig the big holes!!

Also I have been told that further along the road towards the new roundabout they are going to build more apartments and town houses. When will it ever end!!
Joao

Yes, when? Thanks for the info Joao.

Surely eventually economic reality must assert itself: if the supply of a commodity increases dramatically (as that of apartments in Tavira area seems to be), prices must fall.

Who is going to buy all these 1-bed apts at EUR120-130K? Investors? Locals? Tourists? I think Portugal (OK Algarve) is maybe a year or two behind Spain in terms of fatuous over-supply, but heading the same way. I hope I'm wrong, of course...

I hope you're wrong as well but I suspect you're right. The estate agents in town have been knocking their prices down for months.

We have thousands for sale here, but they are two beds, they are struggling to rent them even.

hi we just came back from lagos and thought the same , too many estate agents with unrealistic properties on there books all overpriced .
the properties we looked at in may are all still for sale at the same price and its now september and there still advertised as new to the market,also there totally overbuilding crappy apartments all over town,desperate for a brit to come along and buy there over priced property.the locals certainly cant afford it after speaking to some portugese friends, they also told us some agents have closed down this year .
i just hope they dont spoil the algarve and it turns into another spain.

Exactly the same in the the Algarve, looking at the estate agents web sites for the area we are looking at and only one or two propertys have been lowered and perish the thought of PT any area ending up like Spain