Fine & Country and JLL have both announced they are expanding their business in Portugal.
Fine & Country has just opened its ninth Portugese office at Albufeira; it joins the network of Portuguese offices in Lisbon, Cascais, Comporta and six locations along the Algarve.
Albufeira is the Algarve’s most popular tourism destination, famous for beaches and nightlife. There is also a luxury market on the outskirts of the city itself, especially to the west near Galé close to the new office.
Albufeira was the first place in the Algarve to be developed for tourism, many celebrities such as Cliff Richard and Bonnie Tyler have owned holiday homes here since the 70s.
Meanwhile JLL has acquired Cobertura SA, an agency specialising in prime Portuguese property, especially apartments.
"Cobertura has an excellent track record ... impressively maintaining its position in the country's top four in competition with larger international networks” says JLL spokesman Guy Grainger.
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"Albufeira was the first place in the Algarve to be developed for tourism"
And all the worst for it. Tacky and low-rent would be putting it kindly, other than the still lovely Old Town.
Fair play to the two agencies involved, though. Portugal is always popular among property investors or those looking for holiday homes, so both should experience a fair bit of success from this.
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