Quinta Properties Savills enjoys bumper 2024 for property sales

 In Estate agencies, Luxury brands, Luxury property, News, Property, Real Estate Investments, Reports, Residential Real Estate, Residential Tourism Developments, Resorts

“Without a doubt, 2024 was our busiest year to date at QP Savills” says co-owner and director Kirsten Buechner who reports record sales for its clients.

The high-end estate agency says that last year it had 1,000 luxury properties in its portfolio, 1,703 direct property enquiries, sold 85 properties generating a sales volume of €203 million from its four offices in the Algarve staffed by a team of 40 professionals.

The report says that the demographic landscape of buyers is shifting, with younger families, entrepreneurs and digital nomads increasingly entering the luxury property market.

“This trend is particularly noticeable in prestigious resorts such as Quinta do Lago and Vale do Lobo where younger families are prioritising homes designed to support active and healthy lifestyles,” she says.

The luxury property market in Portugal, particularly in the Central Algarve showed exceptional resilience and growth in 2024, cementing its reputation as one of the most desirable real estate destinations in Europe.

The report says that house prices have continued their upward trajectory, reflecting the country’s ongoing appeal for both domestic and international buyers.

In the Algarve prices soared in 2024 with towns like Silves, Lagos and Tavira experiencing growth rates between 9% and 11% while the Golden Triangle comprising Quinta do Lago, Vale do Lobo and Vilamoura posted a slightly more moderate price growth of 5.8%.

Nationally, the price of average homes rose by 7.04%, equating to a real increase of 4.74% when adjusted for inflation.

International buyers dominate the market, accounting for around 80% of investments in the Algarve. Among these, British buyers remain the largest group, accounting for 45% of all luxury property acquisitions.

However, the UK segment is down on previous years when it represented 70% of all luxury property purchases.

“15% of our buyers are Irish, while the remainder come from 11 countries, particularly US buyers buoyed up by a favourable exchange rate and a growing desire to leave the States for a European lifestyle,” says Kirsten.

“These statistics underscore the strength of Portugal’s real estate market, driven by a blend of historical charm, modern infrastructure, and a high standard of living.”

The full report can be read here: https://www.quintaproperty.com/html/QP-Market-Report-2025/#page=4