Eastern Algarve is stretching from Faro to the Spanish border and is the least urbanised part of the region. The construction of the Algarve highway and the new bridge over the Guadiana river have opened the region to millions of people flying into Faro’s airport or coming from Spain.
Investment has increased dramatically and the last five years have seen an increasing number of resorts being developed along the coast. As a result, prices have been climbing up and the long term trends show that it will continue. A one bedroom apartment can be found around €100.000 and a two-bedroom apartment at €140.000 while a small villa is worth €200.000 and a three bedroom-villa costs roughly €300.0000. Properties with ocean view are in high demand and sell on a premium.
With its strange whitewashed cube-like, flat roof houses, Olhão has a distinctive North African appearance. It is the largest fishing port of the Algarve and despite its modern development, the port is still colourful, warm and appealing. It has a daily fish and vegetable market and a superb selection of seafood restaurants to enjoy.
The town has a number of idyllic “ilhas” large offshore sandbanks. It has been chosen by some promoters as the strategic area to build their future developments.
Located at some 30 kms east of Faro and built on either sides of the Rio Gilão river, Tavira still lives from the fishing industry which adds to its charm. It offers the visitor a combination of beautiful beaches, historical sites and superb dining in a quiet authentic environment. Together with Lagos, Tavira is considered to be the most architecturally attractive town in the Algarve.
The increasing demand of the tourism industry is modyfying the once fairly rural and undeveloped surrounding areas of the town. It is particularly popular with British and other northern European buyers.
Properties in Tavira remain relatively inexpensive considering the steadily rising visitor inflow which make it an excellent place to invest with demand rising and good rental market prospects. There are lots of old townhouses in the historic centre which often need renovation but when offered, never stay long on the market. One can find as well old farmhouses or cottages for renovation outside of the town. Also a number of golfing resorts are being constructed under stringent planning regulation in order to ensure they do not damage the natural environment.
Castro Marim is a small, attractive village on the Spanish border, overlooked by the ruins of its large castle destroyed by the earthquake of 1755. Adjacent to the village, which is on the edge of 400 km of marshland and salt pans, is the Sapal natural reserve with flocks of flamingoes, spoonbills and other migratory birds; a heaven for bird watching. Outside the village, along the Guadiana River one can find an increasing number of new developments which are attracting Spanish buyers.