I spoke with one real estate agent whos been here years...in the last month he has had 32 new instructions to sell (1/2 million price range) from people who want OUT...he said that he went to one of the top golf shops in Almancil which is usually busy at this time of year..he says he said to the shopworker you looked worried...she replied "im not worried..im frightened"

The main cause of this is the offshore problems...but when this same agent spoke to a portuguese accountant...the reply that this was "payback time"...foreigners had bought a lot of the Algarve.in the 1980s..now the Portuguese were going to get it back....(no doubt at forced sale prices)

Seems fair enough to me. Offshore properties are, as far as I understand, solely for tax avoidance purposes.
Mind you, I'd probably think differently if we had bought our shack offshore.

and i forgot to add thats its worth reading "the news" headline this week..re no more foreigners....people in glass houses shouldnt throw stones..how many portuguese are and have enjoyed the benefits of other countries..there are supposed to be a million in france .... must be thousands in the uk...and canada and and and...

without getting into the debate of tax avoidance (note that uk building societies would only loan money if the villa was offshore..) the effect is now being felt...while the portuguese may derive some extra tax now ..they will lose out in the long term. If it had not been for foreign investment here ,then it would still be as the Portuguese use to say.."the algarve was africa without the lions"

They really should be very, very carefull..there is only one industry here and that is tourism..kill that investment and then there will be nothing.

there is no agriculture, no fishing, no industry, no research and development, no hq for some big multi national....take care Portugal take care!!!

Well I think there is agriculture and fishing.
I could certainly manage without R&D or a big multi national.

Martin,

Tourism, hmmm, isn't there generally the element of golf that helps drives this in warmer climates (besides the weather) like hmmmm the Algarve, this tourism driving element being the poster child green meanie of some on this board?

There is very little commercial fishing left in the Algarve, talking to some locals last week they told me there used to be about 20 sardine canning factories in Portimao and Lagoa alone - plus one in Carvoeiro, now there is only one in Olhao. A whole industry has gone and obviously a lot of jobs with it.

There doesn't seem to be a lot of agriculture either with most people only growing enough for themselves......

And to add insult to injury, a lot of the local produce can not be sold on the european market, because it does not meet EU norms. Apparently there is no market vor over-sized, extermely juicy, sweet oranges.

Yeah--exactly G--and you wont taste better fruit anywhere --mishapen or not.
Wonderful to be able to buy or pick unwaxed lemons full of flavour --ugly large but "real" tomatoes bursting with taste!
But no --we have to have straight bananas --straight cucumbers--oerfect shape oranges/tomatoes --all bloody tasteless
Whe we lived there we could buy freshly caught fish practically straight off the beach at CVO--would watch the local fishermen sorting their catch on the praia---------
But looking at Ktees words --the future looks rather grimand worrying

twas atime when in portimao you could see the fishing vessels unload there catch directly and then straight to the rest.....then the EU paid for a brand new fishing port to be built on the other side of the river...now if you pass you will notice a lots of boats out of the water...on the orders of the EU.

yes the oranges are good here but the locals have no creative abilty to market there product..they get their grants and then it doesnt pay to even pick them...one english fellow who has 300 orange trees says he doesnt even pay to water them.

Sad report Guest!
We spent some nice days of our hols at Portimaos new look harbourside and enjoyed lunching and walking there--but--though it looks very nice I miss the ambience of the "old harbour side"--I used to love driving across the old bridge and seeing all the people eating their fish lunches in restaurants close to the waterside.
Shame about the oranges too--when you see fruit like that unpicked or fallen and rotted--especially when you have to pay the prices here in UK for individual fruits and with not a quarter of the taste!
Although Ive always been very pro-european---I do worry when "they" in Brussels speak of a president of Europe --not one thats voted for but
appointed --and worry too -about where all these rules and regulations are leading us!