Vasco Fernandes and Anabela Coelho are the managing license partners of Engel & Völkers – Quinta do Lago since 2018, as well as Engel & Völkers– Vila Nova de Gaia. Vasco Fernandes shared “We are originally both from Porto, but we love living in the Algarve and we travel back and forth from the north where our second shop is.”

Adding, “We are present all over Portugal, and in the Algarve, we have eight shops from east to west, with 70 people working on the ground. Engel & Völkers – Quinta do Lago is specialised in the most sought-after location of the Algarve, our shop caters to Almancil, Quinta do Lago, Vale do Lobo, Vale do Garrão, Loulé, and Querença.”

At the heart of this real estate, is competence, exclusivity and passion. These core values guide the Engel & Völkers company and are what has led this confident brand to make more than 1 billion euros in commissions worldwide in 2023.

Vasco Fernandes also made the point of saying that Engel & Völkers is unique and “differs from other real estate agencies because our team are continuously trained by the Engel & Völkers Academy, in order to provide an excellent service whether you are buying or selling a property.”

Vasco Fernandes also works in Private Office which is where they have a variety of properties that are not actively advertised online, so they provide an exclusive and discreet approach to finding your ideal home.


Vila Nova de Gaia

Vila Nova de Gaia is the third largest municipality in the country and is very enticing with a stable real estate market, offering a multitude of investment opportunities. There are plenty of things to do, including a tram ride where you will get an incredible panorama of Porto, which is 300 meters in altitude and Gaia’s beaches are also a wonderful choice.

It was interesting to hear Vasco Fernandes perspective on Vila Nova de Gaia, “Gaia is a fantastic option to live in. It is a very different market to the one in the Algarve but it is a good market to invest in, we have river views, and sea views and it is a good place to be, the drive from Gaia to Porto city centre is amazing along with the food.”


Property Market Outlook

Vasco Fernandes revealed that “The last three quarters have been stagnant if we compare this year to 2022, we have 30% less in transactions. However, we have good prospects for this year, and we are still growing 7 to 10% a year.”

Portugal is the last marketing price in Europe, Portugal has better weather, food, safety, and good tax reasons and now we are at the top of the curve. I have good prospects for the luxury market this year and we are going to have more properties on the market. We are growing from the last year and I think it is a good year to invest in Portugal.”


Prominent Nationalities

Vasco Fernandes confirmed that “The Algarve is home for those from the UK. 10 million passengers arrive in Faro airport per year, between 5 and 6 million come from the UK, which says everything and they really take care of the Algarve. The Algarve is a good market for everyone, the Dutch, Swedish and Italians are also a good market for us.

Additionally, we are a German brand with capital from England so we are even more connected with England. Now, we have more North Americans and Canadians also searching for a home in Portugal, in the last year.

“Engel & Volkers has a very strong position in the US, EV as it is known in America, is the second luxury brand agent in the United States so we are a big brand there and we do get a lot of good referrals from the US.”


Golden Visas

Vasco Fernandes defended that investment will still be very strong regardless of golden visas. “Golden visas are not an issue for investment, we have a lot of clients who have bought houses because of the golden visas or other Portuguese incentives but when they ended the golden visas, they wanted to remain in Portugal regardless of this change. This means people may come for one reason but they stay in Portugal because it is a great place to live and because we have a really good market.”

Engel & Völkers Quinta do Lago and Vale do Lobo are located on Avenida 5 de Outubro, nº 278, in Almancil, opposite Apolonia. For more information, please call (+351) 289 395 165 or visit https://www.engelvoelkers.com/en-pt/algarve/quintadolago/. For more information, about their shop in Vila Nova de Gaia, please visit https://www.engelvoelkers.com/en-pt/gaia-gondomar/.

Author

Following undertaking her university degree in English with American Literature in the UK, Cristina da Costa Brookes moved back to Portugal to pursue a career in Journalism, where she has worked at The Portugal News for 3 years. Cristina’s passion lies with Arts & Culture as well as sharing all important community-related news.

Cristina da Costa Brookes