Dear All,
I am considering buying a property in Algarve region (Lagos / Faro / Allbufeira) as an Investment: I intend to rent it out during the season (which I assume is at least about 6 Months in the region Apr-Oct) and use it for personal stay (1 Month at time) during off season.
Regarding I have couple of questions:
1. Is property investment in Algarve still worth while (buy in 2022-23, Hold 10 yrs, Sell 2033)
2. With so much of interest (even Warren Buffet / Berkshire Hathaway real estate) is invested in Portugal, are the current prices already too high?
3. It should earn enough to pay the loan premium, I estimate 800-900€ @Month
4. Is total capital of 400k-460k€ (inclusive loan) realistic, what is the size of the property & which are the suitable locations?
5. What is the best option for renting out? i.e., to lease it to a Property Rental agency or make self arrangements like having a local person to look after it.
Any help / pointers / advise will be appriciated.
Btw I live and work in Germany & Portugal is my favourite travel destination.
MfG / Best Regards,
Leo