- Engel & Völkers opens its 6th agency in Lagos, Portugal (the 2nd in the Algarve)
- New agency opens with a portfolio that exceeds 50 million euros
- Growth of the tourism sector raises optimism in Algarve's luxury real estate
Engel & Völkers recently opened its 6th agency in Lagos, Portugal as it continues the Iberian expansion plan that runs until 2018. As a representative of one of the world's leading luxury real estate sector, the new agency has ambitious business goals and objectives among which, in the medium term, it plans to position itself as a reference in the western Algarve.
The Lagos office is located in Rua da Barroca, one of the noble areas of the city. For those driving to Rua 25 de Abril, the route usually filled with tourists just above one of the riverfront car parks.
The agency's office is about 100 square metres and currently has a team of five employees with the aim of expanding soon. There is an ongoing recruitment process focused on increasing the team from five people to nine in order to cover more areas including Lagos, Aljezur and Vila do Bispo.
António Pinto Coelho, 36, a Business Management graduate from Nova University, is a licensed partner at Lagos agency. With a graduate degree in Real Estate Management and Valuation at ISEG and Advanced Certification in Real Estate and Hotel Investment at Cornell University, António Pinto Coelho has been working as the Chief Operating Officer (Property Sales & Marketing) at Onyria Palmares Beach & Golf Resort since 2012.
Sandra Matos is in charge of managing the agency. With a degree in Public Relations and Advertising, she has held the roles of Commercial Director at Atelier do Sul, Design Consultant (1996-2010) and Property Sales & Marketing Group Pestana - Carvoeiro Golfe S.A. (2010-2015).
Portfolio valued at over EUR 50 million
Engel & Völkers agency in Lagos currently has a portfolio of around 70 properties for sale, which represents a total amount of more than 50 million euros.
The raised portfolio allows the company to present customers with a diversified offer including properties that overlook the sea and golf courses with prices starting from 3,000 euros / sqm. For customers without budget restrictions, there are unique properties in very special locations at prices of up to 10,000 euros / sqm.
Sandra Matos says: "We have an excellent selection of properties to suit all tastes and budgets. We have in our portfolio new apartments at 5-star resorts within a short walk to the beach for 175,000 euros and in the city centre with sea views for 190,000 euros. With a little higher budget, customers can find townhouses close to golf courses for 300,000 euros. We also have lots of large plots with sea views for 600,000 euros or luxury villas from one million euros ".
Tourists are the main buyers
The agency officials are optimistic about the Lagos real estate development: "Portugal is very well positioned against its competitors and benefits from a situation where the issue of security, stability and geographical location is increasingly valued," says António Pinto Coelho.
The Western Algarve is considered one of the world's top tourist destinations, with valuable opportunities to obtain premium level real estate. It is therefore the goal of Lagos team to contribute to Engel & Völkers and help it become, in the medium term, the estate agency of choice in this area of the country.
The agency's licensed partner states:
"In the Algarve region, most properties are purchased as second homes.
The fact that tourism is booming is very positive, since these are tourists who later become buyers. The tax regime for non-habitual residents proves to be a key advantage and has brought significant results for the real estate sector".
"It is also worth noting that since there has been a growing concern about the quality of developments, particularly in this area of Algarve, the amount of marketing that has taken place recently will surely attract buyers with a higher purchasing power who seek exclusivity and flee from Algarve's most crowded areas. We are certainly optimistic," he concludes.
The Lagos agency is the second representation of Engel & Völkers in the Algarve, after Quinta do Lago. The German real estate network also awarded licenses to Albufeira and Vilamoura, which will soon contribute towards expanding their capacity in the south of the country.
Engel & Völkers' choice of the most beautiful beaches in the world
Algarve is a top destination with some of the best beaches and golf courses in Europe. The west coast of Lagos from Aljezur through to Sagres is one of the best preserved areas of the region, with great beauty and unique character, largely due to southwest Alentejo's Natural Park and Costa Vicentina, where large-scale construction is prohibited.
The undisputed quality of life in Lagos is recognised by one of the most respected travel websites in the world - TripAdvisor. In 2012, Lagos was branded as the Best Tourist Destination in the world, highlighting the history of the city, the quality of the beaches and the nightlife.
A further example is Marina de Lagos, which was the first in the Iberian Peninsula to get a 5-star rating. Also Ponta da Piedade was recently considered as the most beautiful beach in the world by the famous American newspaper Huffington Post.
Engel & Völkers Lagos
Address: Rua da Barroca, n.º 64, Lagos
- Winter: 9h30 - 18h30 (October to June)
- Summer: 10h - 21h (July, August and September)
Photos © Engel & Völkers Lagos