Algarve: Why Portugal's Retirement Sanctuary Attracts Young Home Buyers

Algarve is a huge golf resort with more than 30 courses. Since the 1960s, the region has attracted British tourists and retirees due to its year-round favorable weather - 300 days of sunshine, beaches, good transport links and low living costs.

Over the past five years, however, changes have been taking place here. As well as regular vacationers and retirees, the Algarve is becoming a popular destination for young buyers and families from the UK. This is encouraging new construction projects.

The Golden Visa program, introduced in 2012, allows Britons to invest in Portugal, including buying property, to become permanent residents of Portugal, providing an additional incentive to relocate. В''More people are now eager to move to Portugal, especially Brits.

"We are seeing a mix of demographics, "

said Patricia Casaburi of Global Citizen Solutions, an organization that helps people buy and move abroad. About 30 percent of the organization's clients who want to move to Portugal are British. "The number of international schools [in Portugal] has tripled in the last five years, which is huge. All the schools have waiting lists. There are 13 new schools in the Algarve, which shows the demand from families," she adds.

According to Casaburi, buyers are getting younger and are more interested in a permanent move. In addition to buying real estate, many of Global Citizen's UK clients''Solutions are deciding to get a Golden Visa or other residency permit to either move here or envision a future.

According to Kasaburi, the pandemic has also influenced a change in buyer preferences. Working from home became possible, so many people were looking for homes with gardens and plenty of space.

After Brexit, when property owners can spend no more than 90 days a year in Portugal, the appeal of being able to obtain an EU passport has become stronger. Within five years of obtaining Portuguese residency, it is possible to apply for a Portuguese''passports.

Vilamoura is one of the Algarve's most popular resorts. The pandemic has also led to a boom in the purchase of second homes here. In addition, Vilamoura's coastline is undergoing renovation and development. Villamoura is a whole town resort that has been around since the 1960s. It is now also attracting international interest, especially from Americans, Canadians and Brazilians.

There are also new sustainable projects emerging on the Algarve, such as Ombria. This project is being built with a priority on environmental protection. It includes a low-sport golf club that uses recycled wastewater. A few percent of the land is earmarked for development; the rest is kept intact. Ombria is also attracting entrepreneurs,'' he says.