Buying a property in Lagos
Lagos in the western Algarve is famous for its lengthy and picture-perfect beaches. It attracts an international crowd, keen to take on its Atlantic surf.
While much of Lagos is geared towards tourism, it still has a pretty, traditional Old Town. A property in Lagos would suit those most at home at the beach.
Why buy a property in Lagos
Lagos is a city and municipality in the western Algarve. It lies on the Bank of Rio Bensafrom. Lagos is best-known for its excellent beaches, which draw in a global crowd: from northern Europeans seeking sunshine to Australian and US backpackers keen to surf.
Its central beach, Meia Praia, is five kilometres long, making it one of the lengthiest in the Algarve. It’s a hubbub of activity, with runners, windsurfing, jet sailing and paddleboarding.
Praia da Dona Ana is one of Portugal’s most photographed beaches. It is protected from the wind by white cliffs, which cast a welcome shadow in the heat of the summer and mean that the water is calm and perfect for snorkelling. Camilo Beach is located at the bottom of a cliff, you have a descent of 200 steps to get there, but it is an opportunity to take in the stunning scenery.
Plus, Lagos has an impressive marina with a 450+ berth. It is lined with stylish restaurants and bars. Meanwhile, Lagos’ Old Town, with its surrounding walls dating back to the 16th century, has a different vibe. Inside those historic walls, you’ll find cobbled streets, charming cafes and little curiosity shops. Lagos feels as if it is separated into zones: you can be in a traditional Portuguese restaurant one night and a high-end waterfront bar the next.
The weather in Lagos
Lagos experiences warm summers and mild winters. The hottest month is July with an average daily maximum of 29°C and up to twelve hours of sunshine. Spring and autumn are warm to mild. January is the coldest month with an average daily maximum of 16°C, though it can be much cooler at night.
How to get to Lagos
Lagos is served by Faro International Airport, which has budget-friendly flights to the UK and Europe. You will need to transfer to Lisbon for long haul flights.
Lagos to Faro airport is about an hour’s drive. There is a low-priced shuttle service that can get you there in the same amount of time, or a bus, cheaper but at twice the length.
What can you get for your budget in Lagos
If you’d like an apartment walking distance from the beach or in the historic centre, you will need a budget of at least €200,000. There are older homes, away from the amenities, that cost less.
A small, older townhouse costs upwards of €300,000 while family villas start at the €500,000 mark. If you are interested in a new-build property, Lagos has beautiful penthouses and houses to pick from. Property prices in Lagos are in keeping with the rest of the Algarve.
Where to buy in Lagos
- Old Town (Centro Histórico): The historic heart of Lagos, with cobbled streets, charming squares, and traditional architecture. You will be close to restaurants and shops.
- Meia Praia: Known for its long sandy beach, Meia Praia is a popular area for beachfront apartments and villas. It’s just a short walk from the town centre.
- Porto de Mós: A quieter neighbourhood with a beautiful beach. It’s ideal for those seeking a more relaxed atmosphere and stunning sea views.
- Praia da Luz: Located a few kilometres west of Lagos, Praia da Luz offers a mix of properties, including villas, townhouses, and apartments. It’s known for its family-friendly vibe and picturesque bay.
- Boavista Golf Resort: If you’re a golf enthusiast, this gated community offers luxury villas and apartments near the Boavista Golf Course.
- Funchal Ridge: Situated on a hill, Funchal Ridge provides panoramic views of the coast. It’s a peaceful area with spacious properties and large plots of land.
Steps to buy in Lagos
It’s best to be methodical and see buying property in Lagos as simple set of steps, none of which is particularly difficult. Before you know it you can own your own home in Lagos!
- Set a budget: Work out how much you have to spend. Read our guide, How to pay for a Portuguese property to see your options. Speak to Smart Currency Exchange about exchange rates and international payments. Get a mortgage approval in principle if required. Remember to allow for buying costs.
- Do you research: Research the best areas around Lagos to buy for your particular budget, lifestyle, needs and interests. If aiming to move to Lagos full time, connect with an independent lawyer to discuss your residency and visa options. If hoping to rent a property out, check if this is legally possible.
- Online search: Once you know how much you have to spend in euros, you can start browsing available homes for sale in Lagos. Check out the appeal of different locations. Explore the area on Google Earth too, which will help you get an idea of the area. Make some enquiries on properties for sale in Lagos at Your Overseas Home. This will open a dialogue with recommended, English-speaking estate agents in Lagos.
- Book a viewing trip: When you have narrowed your online list as far as it will go, speak to an estate agent and book your trip to Lagos.
- Make an offer: When you’ve found a property you like, make an offer via your estate agent.
- Reservation contract & deposit: Once accepted, you may be asked to sign a reservation contract (Contrato de Promessa de Compra e Venda) and pay a deposit. Before you pay the deposit, we recommend speaking to a currency specialist who can help you lock in the rate for the duration of your property purchase, to avoid it fluctuating with the markets. The deposit is usually around 20% of the purchase price.
- Completion: This will be at the notary’s office (or by your lawyer via power of attorney), probably two months or so later. Congratulations, you now own a property in Lagos.
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