English real estate market in Algarve upwards, despite the 'Brexit'

On the eve of the extraordinary European Council, which should be approved in London and Brussels for the "Brexit", professionals in the sector are not concerned with market effects in Portugal, particularly in the Algarve.

In the months following the referendum, remember, there was a sharper decline, but since then the market has registered "ups and downs" less expressive than the perspective not so much with "Brexit", but with the emergence of new markets, namely French.

In connection with the agency Lusa, president of the Association of Professionals and Companies of Real Estate Agents of Portugal (APEMIP), Luís Lima, remembers the logo after the referendum of 'Brexit', in 2016, there was a decrease of 20 to 30% in the English market.

"Initially it was a matter of importance, it was not my sense, it was a matter of emotional term and the conjuncture of asset appreciation capital, which made many English sell, but then improved," he explained. Officials for the year 2018, Luís Lima points out that "there is nothing that points to a complicated situation".

"I do not know what will be seen ahead, but the English text is made in 2018. (...) There is no blockade of the British from the Algarve, they continue to buy and other nationalities appeared in the market, among which highlights the French, "he said.

The president of APIMIP advances many English have asked questions "in recent times" to know what they are doing in the future. "Many Englishmen are preparing for a Monday in Portugal that they allow to circulate in the European Union, which they will not have," he said.

Asked about what can be done after the departure of the United Kingdom from the European Union, Luís Lima considers that a situation has been seen with some caution and without certainties.

"We are very cautious and depend on the future, but we always have a chance to take a look at the real estate market because of the relationship we have with the English market. It is also fundamental that the Visas Gold program is revived because it can become" said Reinaldo Teixeira, chairman of Garvetur's board of directors, told Lusa that he was not worried about Brexit, because it is a market in relation to a region. "The English market (...) has been the first market at the same level and the first foreign market to buy. In recent videos there has been a big growth in another market, especially French," he said.

Although not concrete for the next, the owner must have followed the reference of a break in the market, having recovered with some oscillations. In Reinaldo Teixeira's understanding, as it has not been so much to do with 'Brexit', but with some markets that were stopped and came back. "I do not feel significant break. There is no less than free time is more worrying about this level. "What is done with 'Brexit', it is our duty as the people and the promoters of the country to take an even longer strand of action in the English market," he said.

"In a context of the new reality, the power to keep feeding the strategy continues and continues to spread. The situation of 'Brexit' is not a factor of distancing, much by the text of proximity," he said.