In 2019 we thought about the impact of Brexit …then Covid arrived...
Over the last 24 months vendors, buyers and real estate agents have worked extremely hard to fulfil customers’ desires to sell or buy, particularly in the Algarve Real estate market. Throughout lockdowns Togofor-Homes has been inundated with international clients desperate to buy and unable to travel and vendors wanting to sell but concerned for their health and safety. The real estate agent has adapted to restrictions, evolved, adjusted, and continued to grow in this ever changing environment. Buying a home in the Algarve is and was somehow possible also during the lockdown but is more popular than ever before! We at Togofor-Homes have sold several properties by virtual tours and via friends of the buyers who live in Portugal. Since 15th March 2021, the official date that real estate business is open in Portugal for the public again the market is just booming.
More and more people are looking to purchase a property for permanent/non-permanent residence or investment. If Brexit or Covid has taught us anything, it is the value of things: family, home, health, security, lifestyle, and the adage of ‘don’t put off tomorrow what you can do today.’ The Algarve has a lot to offer; beautiful scenery, kind Portuguese hosts who speak several languages and make foreigners feel welcome, a fantastic climate, multiple choices of attractive, safe beaches as well as golf courses, adventure parks, sports facilities, original fresh food and a healthier, stress-free lifestyle which are all here and in very high demand.
After the incidence figures increased to a dangerously high level in January 2021 following the festive period, the Portuguese government imposed an absolute lockdown with a catalog of measures for many months which helped to get the infection rates down. Now in May, people will benefit from adhering to the measures and enjoy relaxations and ease followed by an ambitious vaccination plan this year.
As a result, in 2021 Togofor-Homes has experienced a big surge in clients looking for large and luxury residences in premium locations, especially from the UK. In addition, young German families seeking for permanent living in the Algarve as well as big players looking for an investment. We recognized that the majority of our customers are high budget clients. Therefore, we need many more properties to fulfil their needs. Demand is extraordinarily high, which has nothing to do with the asking prices – they remain very stable – however this has disappointed some customers who were waiting for bargain prices since the epidemic started.
As flight restrictions are eased more and more and borders open - our clients are desperate to view properties in the Algarve. We urgently need premium and bigger family homes for our registered clients. If you decide to make the move to buy or sell an Algarve property, you can have complete confidence that our team at Togofor-Homes will support you every step of the way. Since the company was founded in 2005, we have grown into a highly experienced and professional team and we have a portfolio of properties, which we market on all major portals and via digital and social media.
If you would like to sell, or already have your property on the market, please contact us. We urgently need your properties for our clients. If you are thinking of selling and are unsure of the process, or in need of an advice for valuations, again please contact us – we can give you helpful information and can recommend experts. Please make contacts to one of our 3 offices in strategically premium locations in the Algarve.
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