FOR SALE €3.5m
Villa Palmeiral, Algarve Fifteen minutes from Quinta do Lago, it has five
bedrooms. Savills (020± 7016 3740)
first home, or more than 10% of their net worth, on a second home.' This is probably one of the reasons
behind the revival of old haunts where the recession has softened formerly steep prices. Portugal' s Algarve has become more afford- able, and buyers are flocking to the pur- pose-built resort of Quinta do Lago, where 800 acres of forests, world-class golf and golden beaches front the Atlantic. ` We' ve had a number of sales at Quinta do Lago, which has been a surprise, as we haven' t had them elsewhere in Portugal,' says Mr Weston Baker. ` We think it' s because it' s so well established, with relaxed villas and wonderful management. It's also very mature and has strong international appeal. Top-end prices have stayed the same, but, further down the scale, they are 10% to 20% off peak.' Similarly, Florida' s southern tip, close to
the Everglades and along the Keys, is also a safeÐ and newly affordableÐ choice.
` Some discerning buyers who thought of the Caribbean but wanted somewhere more stable, have bought here,' says Mr Weston Baker. ` One chap sold his electronics firm for £100 million and bought a lovely house in Palm Beach. Prices are 30% to 40% lower than at the peak.' Savills is selling a Manatee riverside mansion in Sarasota that has a deep-water dock, in-law suite, three
www.countrylife.co.uk/international
FOR SALE €325k
PGA Catalunya Buyers keep flocking to this stylish development north
of Barcelona. Knight Frank (020± 7861 1057)
other guest suites, poolside grill, television and outdoor fireplace, for £2.35 million.
New developments
The recession hasn' t just affected buyers' preferences for certain destinations. People have also become more cautious when it comes to purchasing off-plan. ` They want established projects. They want sight of things being delivered because, a few years ago, a lot of projects began to stall,' explains James Price, head of residential interna- tional development at Knight Frank. For example, at Porto Montenegro, a glamorous marina project on the Adriatic sea, develop- ers are offering residences with berths and have continued to sell to yacht owners around the world. Prices range from £487,243 to £850,456. In the Bahamas, a region where a huge number of projects stalled, the developers
FOR SALE €2.59m
Le Prugnole This five-bedroom stone farmhouse is located in Val
d' Orcia. Knight Frank (020± 7861 1057)
of The Albany have continued to build spec- tacular apartments to maintain momentum. Beach-club cottages start at £2,473,048. Another one to watch on Mr Price' s books
is PGA Catalunya, north of Barcelona, where world-class golf courses and a sense of style have attracted buyers. Plots start at £324,770 and villa constructions at £508,590. The buzz here is different to the rest of Spain. ` It' s close to beaches and mountains for skiing,' h e says.
Contacts
Purslow' s Gascony 00 33 5 62 67 61 50;
www.purslows-gascony.com Savills 020± 7016 3740;
www.savills.com/ abroad Knight Frank 020± 7861 1057;
www.knight-
frank.co.uk/international-property or contact
james.price@
knightfrank.com for new developments
Country Life International, Summer 2011 75
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