Engel & Völkers recently opened the brand's fourth office in the Algarve, continuing the Iberian expansion plan that will run until 2018. The new location is in Vilamoura and is intended to respond to the growing number of investors who are interested in this area. As the representative of one of the world leaders in the luxury real estate sector, the new agency has ambitious business goals, among which stand as a benchmark in the Eastern Algarve.
The Vilamoura agency is located on Tivoli Avenue, in the Moura Praia Building, next to the casino, in one of the busiest and high class areas, surrounded by 5-star hotels, tourist resorts, condominiums, holiday apartments, single-family homes and commercial premises. It is also a passing zone widely used for those who go to the beach, the marina and the restaurants.
The diverse hotel offer, proximity to the Vilamoura's marina, one of the best in Europe, the existence of six world-famous golf courses, all coupled with good weather conditions are an added value for the real estate business.
The new Engel & Völkers office - 11th branch in the national territory - is an area of 84 square metres, has a team of six employees, including real estate and administrative consultants, and operates from Monday to Saturday from 9:30 a.m. to 6:30 p.m. The license covers the influential areas of Vilamoura, Quarteira, Fonte Santa, Boliqueime, São Sebastião, Loulé and Salir.
Partners confident in the upward trend of the real estate market
The partners, Ricardo and Vera Kendall and Daniel Martins, embraced this challenge with confidence and conviction. "Engel & Völkers, a renowned real estate brand in the luxury real estate market with presence in 32 countries, on four continents and with more than 700 locations worldwide, is the mirror of the success of this international network," Says Vera Kendall.
The management of the agency is headed by Daniel Martins, who has experience in business. He says that "the real estate market in Portugal is on an upward trend and Vilamoura is one of the most sought after locations for local holiday properties." In the case of properties as second homes, 'they bring in many investors and international buyers'.
Vera Kendall, who is already connected to the brand inherent to her role as the Expansion Manager for Portugal, did not hesitate to move forward with her career challenge. "Being aware of the brand, the way the branch network works, the commitment to training and supporting franchisees as well as the extraordinary international portfolio, the decision to start this project was easy," she says.
Portfolio valued at 100 million euros
The Engel & Völkers agency in Vilamoura currently has a portfolio of around 100 properties, representing a total value of around 100 million euros.
The portfolio offers a variety of options with sea view and golf views, apartments in the centre of Vilamoura and villas in the countryside, from 5.000 euros / sqm. For clients with greater financial capacity, the price of the properties in premium and exclusive locations can exceed 9,600 euros / sqm, as an example, the Goldra urbanisation, a project of exceptional homes built at about 280 metres above sea level.
"We have been able to bring together a selection of properties for all tastes, requirements and budgets. We have in portfolio 1 bedroom apartments in the centre of Vilamoura from 122,500 euros, apartments in the marina buildings for 365,000 euros, villas from 300,000 euros or large lots for 350,000 euros. For customers looking for greater exclusivity and luxury villas as second residence, we have options starting at one million euros," says Daniel Martins.
Foreigners surrendered to Portugal continue to be the main buyers