Expert Agent Interview: Abacoz Algarve - Ineke Muller
- In which country do you sell property and to what level has the real estate market in your country been affected by the global crisis?
Abacoz Properties is located in Lagos Marina and is known as a well established real estate agency with a multi lingual team with their slogan: we are always there for you even after 5 o'clock!
The market is picking up since 2014 and we have clients from all over the world. Also with the special taxes from the Portuguese government for retirees, there is a lot of interest in Portugal.
- Have property prices risen or fallen in the last 12 months, or have they bottomed out?
Portugal is very interesting to buy a property, especially for the special arrangements from the government, the lovely weather and way of living.
Prices are going up at this moment because of increasing demand. But still there are very nice properties for very good prices. That's why our team always says: whatever your budget, and whatever your requirements our team is devoted to find the best properties for you!
- What advice would you give property owners in your area now who are thinking of selling up?
If you want to sell your property, the most important is that you will get the right information about selling your property and a correct and honest valuation.
The main points for choosing a real estate agent for selling and purchasing:
- Good knowledge of the real estate market,
- Good advise concerning the valuation of your property
- Knowledge of local en national laws and regulations,
- Professional negotiators,
- Experience in determination of the sales strategy
- Does property in your country represent good value for the investor and if so, why?
Yes there are still very good investments, for example villas, apartments sometimes are selling for very good prices and the rental market gives a very good income too.
Also to invest in a B&B, bar, restaurant or guesthouse can give a very good income.
- How long before the property market in your country returns to pre-crisis levels and what can we do to avoid the same situation again?
Nobody knows when it will return on the pre-crisis level but if the prices stays realistic, it can be for a very long time. All depends if someone really wants to sell the property or just want to make big profits.
- From which country do you find the majority of your property buyers are coming from? Has this changed significantly over the last 5 years?
The Faro airport has groing a lot because people from all over the world are coming to Portugal. Whe have clients from France, Sweden, UK, Holland, Germany, Belgium and even from Canada. At this moment there is a massive arrival of French clients.
- What attracted you to selling property in the region?
The Algarve is a beautiful place to live, with amazing beaches, friendly people, lots of golf resorts and good value for money in a very nice climate.
- What would you estimate the percentage split is between local buyers and international buyers?
Here in the Algarve buyers are from all over the world, if you split between local and international it would be 10/90.
- Do you believe the local Government in your market country is actively encouraging or discouraging foreigners into buying property? How and why?
The government in Portugal does a lot to make it attractive to buy a property in Portugal, for example with the tax exemption for 10 years for retired people and changes in planning permissions.
- What's the biggest benefit for investors of buying in your country over anywhere else?
In this world safety is very important at the moment and in top of that most of the people want to live, to retire or to spend their holidays in a sunny climate where they still can find affordable properties.