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Real Estate prices in the Algarve (2023)

Updated: Mar 25, 2023

The Algarve is a region located in the southern part of Portugal, known for its beautiful beaches, charming towns, and mild climate. It is a popular holiday destination for tourists from all over Europe, as well as a popular place for expats to retire or purchase a holiday home.


As such, the real estate market in the Algarve is quite diverse, with a range of properties available at different price points.


In this article, we will explore the average real estate prices in different regions of the Algarve, including Faro, Albufeira, Portimão, and Lagos. We will also discuss the factors that can influence real estate prices in the Algarve, such as location, property type, and demand.


Faro

Faro is the capital of the Algarve and is located in the eastern part of the region. It is a popular destination for expats, with a mix of modern and traditional Portuguese architecture. The city has a rich history and is home to several cultural attractions, including the Faro Cathedral and the Ria Formosa Natural Park.

The average house price in Faro is around €2,700/m2 for the downtown area. This price can vary depending on the location, size, and condition of the property. For example, a small, older apartment in the city center may be less expensive than a large, modern villa on the outskirts of the city.


Albufeira

Albufeira is a popular tourist destination located in the central part of the Algarve. It is known for its nightlife, beautiful beaches, and stunning coastal scenery. The city has a mix of modern and traditional Portuguese architecture, with a number of high-end properties, including villas and apartments with sea views.

The average price of a house in Albufeira is around €3,700/m2. This price can vary depending on the location, size, and condition of the property.


Portimão

Portimão is a city located on the western coast of the Algarve. It is known for its fishing industry and has a mix of modern and traditional Portuguese architecture. The city is home to a number of popular beaches, including Praia da Rocha and Praia da Vau, and is also a popular destination for water sports such as surfing and kiteboarding.

The average house price in Portimão is around €2,600/m2. This price can vary depending on the location, size, and condition of the property.


Lagos

Lagos is a city located on the western coast of the Algarve. It is known for its historic center, beautiful beaches, and proximity to the popular golfing destination of the Vale do Lobo. The city has a mix of modern and traditional Portuguese architecture, with a number of high-end properties, including villas and apartments with sea views.

The average price of a house in Lagos is around €4,100/m2. This price can vary depending on the location, size, and condition of the property.


Overall, real estate prices in the Algarve can vary significantly depending on the location and the type of property. However, it is generally more expensive to purchase a property in the central and western parts of the region, where there is a higher demand from tourists and expats. Average prices are dropping the more you are willing to move inland and away from the coast line. However, we are always motivated to find you the best value for your money at every location.


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Housing prices in the Algarve in 2022


  • São Brás De Alportel - 2 400€

  • Portimão - 2 600€

  • Silves - 2 700€

  • Faro (Downtown) - 2 700€

  • Vila Real de Santo António - 2 900€

  • Tavira - 2 900€

  • Olhão - 3 300€

  • Alvor - 3 400€

  • Aljezur - 3 600€

  • Lagoa - 3 600€

  • Carvoeiro - 3 600€

  • Albufeira - 3 700€

  • Vila do Bispo - 3 800€

  • Lagos - 4 100€

  • Loulé - 4 400€

  • Quarteira - 4 800€

  • Vilamoura - 5 000€

  • Almancil - 5 500€

  • Vale do Lobo - 6 500€

  • Quinta do Lago - 8 000€

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