Luxury Apartments in Algarve, Portugal: Your Exclusive Guide

Why do more than 100,000 expats call the Algarve home? This sublime region in southern Portugal has long been regarded as having one of the finest coastlines in the world, home to more than 100 beaches and staggering landforms, such as Ponta de Piedade and the Benagil Caves, and attracting tourists from across the globe.

Now more than ever, foreign buyers are moving to the Algarve to relocate permanently or jump on the property ladder on Portugal’s most famous coastline. And for those looking for a taste of luxury, the region can certainly deliver.

In this article on Luxury Apartments in Algarve Portugal, we will provide you with an overview of the top locations to find luxury apartments in this gorgeous region, some of the features typical to these apartments, and the investment potential of placing your money in this type of Portuguese real estate.

Top Locations for Luxury Apartments in the Algarve

Portugal is full of wonderful locations to snap up a premium property – the luxury property market in Portugal has moved from strength to strength in recent years – but the Algarve is certainly one of the top spots. Whether you are seeking a sleek modern apartment in a resort town where you can enjoy all the amenities close at hand or a more authentic abode where you can get under the skin of Portugal’s vibrant culture, the Algarve region can deliver.

In this section, we’ll provide an overview of four key locations. Bear in mind that this is by no means exhaustive, as Algarve luxury real estate can be found across the region. Locations such as Portimão, home to the beautiful sands of the Praia da Rocha beach, and Faro, the capital of the Algarve, are two other excellent options to consider.

Vilamoura: The luxurious heart of the Algarve

Some of the most luxurious properties in the Algarve region are in Vilamoura. With stunning apartments boasting sweeping sea views, the famous Vilamoura Marina – named multiple times as the International Marina of the Year by The Yacht Harbour Association and the British Marine Federation – and an array of fine dining establishments, if you are looking for the ultimate luxury lifestyle experience, look no further.

The Golden Triangle of Almancil, Vale do Lobo, and Quinta do Lago are also close by, known for having upscale amenities and easy access to premium facilities, including world-class gold courses, swimming pools, and privacy. Many celebrities choose Vilamoura and the Golden Triangle as their locale of choice, with many having properties here.

Albufeira: A vibrant lifestyle guaranteed

Albufeira, whilst known for its vibrant nightlife and entertainment, is also home to some splendid properties. In many ways, this resort city symbolizes the heart and soul of the Algarve, where there is always something going on throughout the summer months. You will also find both high-end shopping outlets close to Albufeira alongside local shops and boutique stores selling locally made jewelry and crafts.

With beautiful beaches gracing the coastline here and an array of water sports activities to get involved in, Albufeira is also conveniently located in the center of the region, the perfect spot for exploration.

From its modern marina to its charming old town, which nods to its rich Moorish heritage, Albufeira is a terrific option that should certainly be on your radar if you are looking for an easy, lively lifestyle. You will also find a strong expat community here, meaning that you’ll easily be able to find your feet and establish your network if you choose to move here. And, if you are looking for an investment property, you’ll find strong potential for capital appreciation.

Lagos: Home to unrivaled ocean views

While each city and town in the Algarve will provide you with beautiful views of the Atlantic Ocean, there is something particularly special about Lagos. This city in the Western Algarve has proved to be immensely popular with foreign buyers in recent years, not least thanks to its modern properties that come with delightful ocean vistas, modern interiors, and elegant finishings.

Lagos is the perfect location to try your hand at water sports, plus there are incredible golf courses close by, such as the Palmares Golf Course, which overlooks the Bay of Lagos, or the Espiche Golf Course. You will find stunning landforms and beaches here, such as the Benagil Caves, Praia do Porto de Mos, and Meia Praia.

You will also be able to enjoy the coastline from the ocean, with many boat tours offering hourly or day-long boat trips. Sagres, further west is also a favorite with surfers and home to beautiful beaches, such as Mareta Beach, well worth a visit.

Tavira: Get under the skin of the Algarve

If you are seeking a more authentic Portuguese experience, then Tavira should be on the cards. With 37 churches, the Roman bridge stretching out across the Galão River, and the white-washed houses with blue façades that are typical of the region, this city in the Eastern Algarve is one of the most picturesque in Portugal.

The local way of life is still very much visible here, where you will see the locals sitting out reading their newspapers with an espresso and perhaps a sweet pastry in the morning. With access to incredible natural landscapes and beaches, such as Tavira Island and the Ria Formosa Natural Park, Tavira is for those looking for peace and quiet. The Ria Formosa Natural Park is one of the most stunning parts of Portugal, one of the largest coastal lagoons on the Iberian Peninsula.

You will, however, still find a vibrant expat community here and the potential to secure nice returns on your investment. Plus, you will have access to terrific golf courses, tennis courts, and water sports activities.

Across southern Portugal, you will come across luxury apartments near golf courses in Algarve, with the region known to be one of the best locations in Europe for keen golfers.

Key Features of the Best Apartments in the Algarve

You will find a wide range of features in apartments in the Algarve that put them a step ahead of other properties. This can include spacious interiors with large windows that maximize natural lighting, modern finishes, air conditioning, and smart home technology, such as smart lighting, smart heating, and advanced security systems.

Many luxury homes will also come with a private swimming pool (with options for either an outdoor swimming pool or an indoor swimming pool), a gym, and even spa and wellness centers. While most apartments will be furnished with modern finishes, you will also be able to find unfurnished apartments, where you can play interior designer to create the ultimate home – plus, this could be a fun ongoing project.

Many new-build Algarve apartments also focus on energy efficiency and eco-design, utilizing energy-efficient and environmentally conscious systems.

Investment Potential of Luxury Apartments in Algarve

The Algarve is one of the most sought-after spots in Southern Europe. Below, we share some insights into the investment potential of snapping up a premium property in the region.

Growing demand and property values continue to rise

Property prices in the Algarve have been rising steeply in the past few years, in line with the growing demand from buyers. With increased foreign interest, property values are set to continue to rise, albeit at a slower pace, meaning that you should be able to secure a nice return on your investment should you choose to sell further down the line.

Rental income opportunities

Are you considering buying a stunning luxury abode to rent it out and get some money back? Well, this can be a profitable move, with strong potential for both long and short-term rentals. Rental yields stand at 5.6 percent in the Algarve.

Do bear in mind that there are currently restrictions on getting an Alojamento Local (AL) Licence, which is required to rent out accommodation on your property in the short term. However, the new government has stated that they are reviewing this, and restrictions may ease in the coming months. You can find out more in our article, What is Changing Regarding Short-Term Rentals in Portugal?

Goldcrest: How We Can Help You 

Goldcrest is a buyer’s agent that is based in Lisbon. We provide expert, impartial advice on real estate investments and how to buy property in Portugal. From scouting out the perfect property through to property acquisition, we have you covered throughout the process.

If you are looking to purchase property in Portugal, don’t hesitate to get in touch. Our team of skilled experts is available to solve all your real estate doubts, helping you with the property search and offering insightful expertise and strategic advice.

Why choose Goldcrest?

• Local knowledge: With offices located across Portugal, our presence nationwide allows us to assist you personally across the country.
• Independent service: As an independent buying agent, we do not represent any development or project. Our service is entirely tailored toward each individual client, providing you with everything you need to secure the perfect property at the best possible price. As an impartial advisor on the market, we work solely on behalf of our client and provide a service tailored to your needs and requirements.
• Streamlined process: Our real estate agents speak English and Portuguese, and our service is completely focused on providing you with a hassle-free buying experience, saving you time.
• Experienced team: Our expert real estate team has a vast local knowledge of the Portuguese property market. We have cutting-edge technology and metasearch tools at your disposal to provide full market coverage, ensuring the best investment choices and negotiated prices.
• Network of partners: We have a close network of partners, including lawyers, property management services, builders, architects, designers, and landscape gardeners, again saving you time and hassle by providing you with trusted experts in their field of work.