Lagos is a charming coastal town, located in the west of the Algarve, in the south of Portugal. Quieter than Albufeira, less touristy than Faro, larger than Portimao, the city is attracting more and more buyers in search of a gentle but lively life by the sea. What is real estate like in this small Algarve town? In this article, we will explore the Lagos real estate market, its prices per square meter, current trends, and market developments.
Lagos Real Estate Market News
Lagos enjoys a high demand for residential and holiday properties. In addition to its prime beachfront location, recent urban improvements, such as the renovation of the waterfront and the restoration of historic buildings, have accentuated its appeal. The city offers a unique blend of modernity and tradition, with well an idyllic living environment.
Price per m2 in Lagos
The real estate market in Lagos has a diversity of prices, reflecting the different neighborhoods and types of properties available. Here is an overview of the median prices:
Apartments: 4700€/m2 which gives a total price between €250,000 and €500,000, depending on the location, size and amenities. Apartments on the seafront or in the historic center can fetch higher prices.
Houses: Houses and villas have a median cost per square meter of €5400. Prices usually start around €600,000 and can exceed €1.5 million for the most prestigious properties, especially those with ocean views or located in exclusive residential areas.
Lagos offers a variety of neighborhoods, each with its own unique charm and features.
Historic Centre: This area is popular for its picturesque atmosphere, cobbled streets and colourful buildings. Buying a property in this area allows you to live in the heart of the hustle and bustle with easy access to restaurants, shops and beaches.
Meia Praia: Located to the east of the city and known for its long golden sandy beach (so large that even at the peak of the tourist season you don't step on each other!), Meia Praia is a popular choice for those looking for a beachfront property. Residences in this area often offer stunning views of the ocean.
Ameijeira: located in the south of the city, Ameijeira is a good alternative to the historic center if you want to be a little out of the way. There is a beautiful cove, Praia do Camilo, near Praia Dona Ana, considered one of the most beautiful beaches in Portugal.
Porto de Mós: Porto de Mos is a district renowned above all for its sublime beach, one of the most beautiful in the Algarve! This exclusive residential area offers luxurious villas with spectacular sea views. It is an ideal place for those looking for tranquility and privacy.
Almádena: A little away from the hustle and bustle of the city, Almádena offers traditional houses and modern villas in a peaceful setting. It is a perfect choice for those who want to enjoy nature while still being close to Lagos.
Luz: Located a few kilometers from Lagos, Luz is a small seaside town with a relaxed atmosphere. Properties here vary from modern apartments to traditional villas, often with panoramic sea views.
House for sale by Villas Key sur Green acres
Lagos Market Trends
International Demand: Buyers come mainly from the UK, Germany, the Netherlands, France and Belgium, looking for second homes or places to retire.
Rental Investments: Vacation rentals are a lucrative option in Lagos, with high demand throughout the year thanks to the city's many attractions and growing popularity.
New luxury developments: The increase in demand for high-end properties has led to an increasing number of luxury real estate projects in Lagos. These new developments include residences with modern amenities, stunning ocean views, and exclusive services such as private pools, spas, and fitness areas.
