Market Report February 2012

By • Mar 6th, 2012 • Category: Quinta News

Market Report February 2012

If you are looking for the bright side of things, look no further. We have had crystal clear beautiful uninterrupted sunshine since November! Actual statistics show 1 day of rain since the beginning December. We all remember it, it was on a Sunday.

So things do not get much brighter than that!

The Property Market

Contrary to popular belief, we have plenty of buyers. The stronger Pound coupled with lousy weather and too few interesting investment opportunities in northern Europe have brought cash buyers back to the Algarve, its sunshine and its Quinta do Lago and Vale do Lobo area… it is our vendors who are making our lives that much more challenging!

Of course it takes 2 to tango, and our buyers are certainly driving a hard bargain, but it is often our vendors who ask us, while we discuss offers with them, what they should do with the money if they do sell. Most continue to be very happy to keep their investments in Quinta do Lago and can think of no better place to put their money.

Yes, buyers continue to make low offers and yes it is true that for the first time in 15 years vendors are not making big profits when selling but this is the way of property markets -they do go up and down and currently it is a buyers market and a great time to invest.

We have been recommending to all of our vendors: only sell now if you have something better to do with the funds. To our buyers we say there are some good deals to be had, but do not expect property values across the board to have dropped in Quinta! Most property owners in the area are very strong in terms of wealth and will go on enjoying their fabulous properties in the sun and sell at a later date!

To recap, things remained completely unchanged until late summer 2011. At Quinta Properties it was business as usual and we even took on another excellent sales executive during the summer. In September we noticed a fall in the number of sales and this trend continued to the end of the year, but no further. January and February have seen buyers return and a good number of sales agreed. Yes, these continue to be to the advantage of the buyers but there continues to be lots of interest and the properties which continue to sell well are the ones in the best locations and in good condition. Tired properties are very difficult to sell and as always we are urging vendors who are keen to sell, to do what they can to keep their properties looking fresh.

On a note to vendors, we would like to invite you to contact us to discuss the marketing of your property. If you feel you are not getting enough viewings or would like some feedback, please call us. Market conditions have changed and to help us serve you better, we are happy to discuss your needs and if need be, adjust our approach to marketing your property.

Our Marketing Efforts in 2012

All our marketing efforts are continuing in full force.

We have tweaked our approach a bit this year and have targeted some new markets. Of course the British continue to be our largest group of buyers and our 15 year partnership with Savills has never been stronger. Buyers with Pounds are getting particularly good value right now as the Pound has become almost 20% stronger against the Euro in recent months.

Furthermore, we are planning to visit Moscow to meet up with our Savills colleagues there to see if we cannot get some new business from the Russian market and with other partnerships, we are also working on attracting buyers from Angola and Brazil. We have our work cut out for us!

Due to very attractive tax benefits for high and ultra high net worth individuals, moving to Portugal could be the best thing they ever do. To this end, we are planning to host a seminar around Easter with speakers from PWC and other tax specialists. This should be a very interesting event and if you would like to attend, please let us know!

Our new better and faster website is up and running. Please have a look and give us any feedback. All your comments are most welcome and we hope you like it. The “News” section is updated regularly.

5 new billboards have gone up around Almancil this week and we hope that they will put a smile on your face…! Look out for the one at Apolonia in particular.

For new buyers, we are very pleased to be able to offer a complimentary 3 month trail membership and Four Seasons Country Club. This is a wonderful way for new buyers to become involved in the local Quinta do Lago community and meet some new friends and neighbours. The facilities at the Club are excellent with something for the whole family and with the recent renovation of the bar area to mark the silver jubilee of the club, the club has never been more popular.

And last but certainly not least, please continue to recommend us to your friends and colleagues. A large number of our new clients continue to come to us because you send them to us and we are most grateful for your continued support on this front!

We hope this finds you all well. Despite more difficult times we are fighting fit and ready to make 2012 a great success!

With our very best wishes!

Kerstin, Alison and the Quinta Properties Team

- Director - Kerstin was born in Switzerland and educated in various European countries. She joined her sister Alison in July 2005 after 15 years of selling high profile properties in and around Quinta do Lago.
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