Next Neighbourhoods 2021: Praia da Luz, Algarve, Portugal
Located just one hour from Faro Airport, this formerly sleepy fishing village has had a major renaissance over the past decade, with an increase in those looking to relocate rather than just for a holiday home. Although the village came to be known globally for the wrong reasons, it has become incredibly popular in recent years for all the right reasons, including some major infrastructure improvements, three local schools, new supermarkets and plenty of restaurants.
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Why is it primed for growth?
With more and more Europeans seeking relocation to the warmer climes of Portugal, the village is tempting many clients drawn by its relative affordability, improved accessibility and continuing investment in infrastructure.
My favourite bits:
Going for a walk along the Costa Vicentina footpath, which runs along the entire Algarve coastline. You can still find hidden beaches and local beach bars serving fish caught earlier that day.
What will my money buy me?
Apartments can still be found for as little as €225,000 while a three-bedroom townhouse starts at €320,000. Larger standalone villas with private pools are in hot demand but are still available for well under €1 million whereas the rare frontline houses overlooking the ocean tend to start at €2.5 million.
One thing the locals like to keep secret:
Take the 20-minute drive to the Algarve’s west coast, where you will find some of the world’s best surf beaches – almost deserted, even in the height of the summer.