The English couple
at the centre of the first episode of the BBC’s “Get Away for Winter” series broadcast
last month are among the ever-growing number of foreigners renting properties
during the off-season, or even all-year-round.
Trish and Dave
Guilford from Sussex stayed in Ferragudo from mid-December to mid-February
after their specially filmed search for an ideal winter getaway.
They chose a
two-bedroom apartment at €650 a month and enjoyed their first stay in the
Algarve so much that they have booked accommodation in Ferragudo for six months
throughout the whole of next winter.
Mandy Hughes, a
Lagoa-based property consultant who managed the majority of the venues for the
“Get Away for the Winter” filming in the Algarve last October, says the winter rental market here is very
buoyant.
“Every year we are seeing more visitors
from both Europe and further afield, particularly America and Canada.”
She says the winter trend provides a great
option for local owners who rent their property out in the summer months but
often have it standing empty over the winter.
“A quality, two-bedroom house or apartment
in a good location can often be rented for between €500 and €800 per month plus
utility costs in the winter.
“There is not a great demand for villas
over the winter as those visiting from November to April tend to be retired
couples.”
As many of the major holiday resorts
almost shut down over the winter months, less publicised places such as Lagos
and Ferragudo are entertaining the bulk
of the winter visitors. Mandy says.
“The long term rental market, involving lets of twelve months or more, has
also become increasingly busy.
“Property sales are a very
important side of our business and we see that many overseas purchasers are opting
to rent before they buy – giving themselves time to decide on their preferred
area over a twelve month period rather than basing their property choice on relatively
short holiday experiences.”
Mandy notes that many of those investing
in an Algarve property may be well placed to enjoy it either as solely a second
home, or making the most out of their investment with holiday and long term
lets.
“In Algarve Sales and Rentals
we have found that property owners are turning to us to manage the whole rental
process for them. That includes advertising, finding tenants, arranging
contracts and then getting the tenants settled into the property.
“The incentives to do this
are many, not least of which is no longer having to pay utilities, gardeners,
maids and pool maintenance.
“Once they have taken all their
costs into account, 95% of owners come to the conclusion that they actually
make more profit for a long-term rental than they do for the summer holiday
market.”
Trish and Dave Guildford, retirees who have
fallen in love with the Algarve as a result of taking part in the first episode
of the BBC’s “Get Away for the Winter” series, are also expecting to make a
profit next winter.
While renting in Ferragudo
again, this time for six months from next October, they intend to rent out their
Sussex home. They anticipate a far higher income per month from their own house
than they will be paying in Ferragudo, plus saving on UK heating bills, food
and other less expensive items here.
Trish and Dave, who stayed in
Ferragudo from mid-December to mid-February, say they would consider renting
elsewhere in the Algarve in future years.
“We
love the Portuguese and especially the Algarve area with its beautiful scenery
and glorious beaches and walks.
“The feeling of friendliness
from the locals is really lovely. We feel safe here and less stressed.”
Trish and Dave
