The Odyssey, Algarve
- Properties From $481,500
- Tenure: Freehold
- Estimated Rental Return: 7%
- Completed
- The Algarve is the most visited area in Portugal, due to it’s fabulous climate and natural beauty. One of the main drivers of property prices in the Algarve is the strong demand from both domestic and international buyers.
- It was awarded Europe’s Leading Beach Destination in 2022 at the World Travel Awards.
- Portugal receives 65 million visitors per year.
- Portugal charges no wealth, gift or inheritance tax.
The Property
This luxury resort is located in Carvoeiro, just minutes from the beach and close to golf courses and the Faro International Airport. This is a development of 74 apartments with one to three bedrooms from 184 to 453 square feet. These apartments benefit from high quality finishes, stunning views, and large private terraces. All properties have floor-to-ceiling windows with outstanding views and can be made available for rent through an in-house reservation center. This development boasts globally inspired furniture and materials, and attention to detail at every step, delivering elegance, comfort, and functionality. The project offers varied services: a shuttle to the beach, swimming pools, a restaurant and bar, a gym, parking, and 24-hour reception. It is only a few minutes away from the beach, fine dining, beautiful golf courses, and is conveniently close to the Faro International airport. During the high season, there is a resort and beach shuttle bus.
Why Portugal?
- 65 million visitors 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, good 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
- 7% per annum*
- Based on Airbnb data*
Location
Carvoeiro is one of the most popular holiday destinations in Europe. This picturesque coastal town is located in the Algarve region of Portugal. It is known for its stunning cliffs, beautiful beaches, and charming village atmosphere. The town has a rich history dating back to Roman times and has evolved from a traditional fishing village into a popular tourist destination. Carvoeiro offers excellent opportunities for hiking along the coastal trails, or exploring the nearby countryside. The area is also popular for golf enthusiasts, with several championship golf courses located within a short drive from the town. Carvoeiro is renowned for its beautiful beaches: Praia do Carvoeiro is the main beach in the town center and is easily accessible from the square. This small sandy beach is sheltered by cliffs on both sides, providing calm waters ideal for swimming and sunbathing. Other nearby beaches include Praia de Vale Centeanes, Praia do Paraiso, and Praia de Benagil.
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