Buying a property in Vilamoura
As one third of the Algarve’s Golden Triangle, Vilamoura is an idyllic location for an overseas home. It is in the Loulé municipality in central Algarve. In the 1980s, Vilamoura was transformed into an epicentre for luxury living.
Vilamoura offers international buyers beautiful homes set on golf courses, new builds and waterfront villas. Its popularity as a high-end holiday destination makes it a fantastic investment opportunity.
Why buy a property in Vilamoura
Vilamoura is home to beautiful beaches, including the golden sands and dreamy waters of Praia de Vilamoura, which is lined with boutiques and high-end restaurants. Praia da Falésia, to the east, has a name that translates as “Beach of Cliffs” due to its stunning, distinctive golden cliffs.
There is plenty of opportunity to play water sports, be it jet-skiing, sea kayaking or simply enjoying a relaxing boat trip to view the sea life. Vilamoura is home to the country’s largest marina, which can berth up to 825 boats. It is filled with famous superyachts.
Golf is a popular pastime, with world-class 18-hole courses, including Laguna, Millenium and Old Course. As a popular choice with expats, Vilamoura also has brilliant healthcare facilities, supermarkets and even an independent international school.
The weather in Vilamoura
Vilamoura enjoys highs of 30°C and up to 12 hours of sunshine per day in July and August. Sunbathers can be found on the beach through to October. In November, temperatures fall to 19°C with greater spells of rain. While winter sees highs of 16°C and six hours of sunshine.
How to get to Vilamoura
Faro international airport has regular flights to Lisbon, London and the rest of Europe. For further journeys, you will need a connecting flight at Lisbon or another major airport.
Faro airport is just a 20-minute drive away from Vilamoura. There are public transport routes too.
Property hunting in Vilamoura
In Vilamoura, you have the choice of being positioned right by the beach or the golf course. Some gravitate towards Vilamoura Marina, Falésia Beach or even Languna golf course.
You can purchase a one-bedroom apartment, close to the beach, for upwards of €200,000. While the starting price for new-build apartments is €250,000. Such homes will often benefit from panoramic views, communal landscaped gardens and a pool.
You can buy an older three-bedroom townhouse from €700,000 and contemporary family villas will need a budget of at least a million.
While Vilamoura is one of the more expensive places to property hunt in the Algarve, overseas buyers may find that prices compare favourably to international luxury hotspots like the Côte d’Azur.
Steps to buy a property in Vilamoura
It’s best to be methodical and see buying property in Vilamoura as simple set of steps, none of which is particularly difficult. Before you know it you can own your own home in Vilamoura!
- 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 Vilamoura to buy for your particular budget, lifestyle, needs and interests. If aiming to move to Vilamoura 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 Vilamoura. 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 Vilamoura at Your Overseas Home. This will open a dialogue with recommended, English-speaking estate agents in Vilamoura.
- 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 Vilamoura.
- 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 Vilamoura.
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