Bernardo Teixeira, Enolagest | Garvetur Management Advisor - Luxury Tourism

Luxury is a subjective concept, meaning that its definition is fluid and encompasses concepts that evolve over time. These days, luxury has come to be associated with simplicity and authenticity, coupled with comfort, but also with concerns for environmental preservation and design.
Luxury tourism is a specific segment that is increasingly distinguished by the quality and authenticity of the experiences available to guests, in a wide range that includes real estate as an essential premise.
At a time when the Algarve is consolidating its position as a destination of choice, attracting foreign investment, the high calibre of the real estate on offer is imperative, given the demand from increasingly well-informed visitors, who are looking to invest in properties with specific characteristics.
Although price is one of the concepts normally ascribed to premium real estate, there are other important factors that generate investor interest. Prime city locations, spectacular scenery, access to cultural assets, good food or appealing shopping areas, or in other words: location is a crucial and highly valued factor.
A growing trend is the importance of more sustainable construction processes and environmental preservation, coupled with the security and privacy of homes, as well as space and design, which are other aspects that attract potential investors.
We can assume that the target audience for luxury tourism real estate places value on the exclusivity and sophistication of interior spaces and the pleasurable experiences provided by the outdoor environment.
The security and safety provided by the stability of the construction and video surveillance systems are essential factors, combined with the property’s location in prime areas, such as being close to beaches, peaceful natural surroundings or historic city centres.
As a home provides the perfect place for families to relax and socialise in luxury tourism, being close to golf courses, tennis courts, gyms, spas, or saunas are extras that further enhance the value and appeal of these properties.
Finally, the potential increase in the property’s value also ensures greater interest in luxury tourism real estate, and the Algarve has everything it needs to maintain the attractiveness of this segment.

BERNARDO TEIXEIRA
Enolagest | Garvetur Management Advisor