By Mary Mangan
Ask anybody in the real estate business and they will tell you that in any market there are particular hot spots, places people come back to time and time again, places that have become in their own way a trend beater, and in the Western Algarve, Praia da Luz is one such spot.
Luz, as it is more commonly known, has like other coastal Algarvian towns seen its share of development but as most of the development has been low rise, the village has retained its attractiveness and most of the activity centres around the beach, church and commercial area, which are all conveniently located right in the centre.
The beach with its lovely promenade and Roman ruins is the focal point for the town with bars and restaurants offering refreshment and shade on a sunny day.In the summer months, this is where local traders set up stall and display their wares.
In the evening, after a day spent on the beach, this is a lovely place to come to enjoy a meal or a drink, listening to the waves breaking on the beach and the chatter and laughter of holidaymakers at the end of yet another beautiful Algarvian summer day.
It is easy to see why Luz is popular with holidaymakers, but there is also a vibrant year-round expat community who really make the town a real community throughout the year.
Apart from the excellent selection of bars and restaurants in the town, Luz has an excellent supermarket, a minimarket, butchers, a great healthfood store and pharmacy. There are two international schools in the immediate neighbourhood, a great local doctor’s surgery, a dentist and the reassurance of a public and private hospital in Lagos just five minutes away by car.
There’s a lot going on in the area with residents giving their support to local charities, fundraising events and the local markets supplying the freshest food the region has to offer.
Culturally, there’s also a lot happening and the new choir is sure to add some musical joy to events in future months.
The property market in Luz has suffered in tandem with property markets worldwide. However, now that we are seeing some signs of a slow recovery, it’s in places like Luz that this has started to happen.
Buyers are going for the tried-and-tested formula and choosing to put their money into properties in Luz, where there is the combination of a vibrant holiday market and an all-year-round community.
This year in particular we have seen more Northern European clients who are choosing properties they can use themselves in the winter months, and when they return to base in May they rent the property to generate an income.
To some people, buying a holiday home at the moment might seem to be an unaffordable luxury, but for those who can, many popular destinations like Luz have properties available at prices that will not be seen again.
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Mary Mangan is the Managing Director of Winkworth Real Estate Portugal. The company has properties for sale on the Algarve and on the Silver Coast.
