Pêra Bay, Algarve
- Properties From $486,000
- Tenure: Freehold
- Estimated Rental Return: 5%
- Completion: Q2 2023
- Located in the heart of the Algarve, with direct access to the beach, this location offers the last chance for investment in a beachfront development in the Algarve. The Algarve is the most visited area of Portugal, due to it’s fabulous climate and natural beauty. It was awarded Europe’s Leading Beach Destination in 2022 at the World Travel Awards.
- According to a PwC report 2023, Portugal is a very safe investment option due to its economic stability.
- Portugal is one of the most attractive destinations for foreign investment in recent years, with US buyers investing billions of dollars. Portuguese real estate has one of the best price-to-rent ratios in Europe.
The Property
The development offers 6 floors containing 256 apartments in a closed condominium of 14.8 acres. The resort offers many facilities, including swimming pools (indoor and outdoor), optional private pools, a fitness center, sports fields, a spa, concierge services, and direct access to the beach. All apartments are finished to a high specification and offer spacious outdoor areas including terraces. There are excellent restaurants and golf courses within proximity, as well as many historical tourist attractions.
– Beachfront property
– Swimming pools
– Gated luxury condominium
– Concierge Services
Why Portugal?
- Visitors 65 million per year
- House Price Growth 13.1% (2022)
- Inward Migration 750,000 (2022)
Due to a tourism boom demand continues to outstrip supply leading to price increases in both the rental and sales sector. Forbes magazine recently voted Portugal the number 1 place to retire due to its low cost of living, fabulous way of life and attractive tax benefits for foreign residents. 750,000 people made Portugal their new home last year. Although it has a population of only 10.5 million, Portugal receives 65 million visitors per year. Property in the Algarve is generally considered a sound investment due to low property tax, high capital appreciation, and strong tourism. The Algarve is popular not only due to its tourist numbers, but also for investment and relocation. Rental yield, on average, is among the highest in Europe.
Est. Return
- 5% per year*
- Based on Airbnb data*
Location
Armacao De Pera is a popular seaside resort located in Portugal’s famed Algarve region. It is known for its stunning beaches, rich history, and vibrant atmosphere. Situated between Albufeira and Portimão, Armação de Pêra offers a unique blend of traditional Portuguese charm and modern amenities. Behind the fabulous beach is a promenade with open-air restaurants and bars. About halfway down the promenade, you’ll find the remains of a 16th-century fort. The Fortaleza de Armação de Pêra was built in 1571 to protect the coast, but was destroyed by an earthquake in 1755 so there’s very little of it left. What still stands is a small chapel from 1720, the Capela de Santo António. It is located about 40 minutes from Faro International Airport. A short drive will bring you to championship golf courses, as well as many other sporting facilities.
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