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.
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.
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
Photos © Engel & Völkers Lagos