This listing includes AI condition scoring, neighbourhood intelligence, and market valuation data — giving you a complete picture before you visit. Compare rental yield, price per square metre, and location strength against the broader Portuguese market to assess whether this property fits your investment strategy.
2-bedroom, 1-bathroom apartment of 109 m², built in 2012, energy rating C. Located on rua Álvaro Gomes, 3, Armação de Pêra parish, Silves municipality, Faro district. This apartment features two covered terraces totaling 6.60 m², perfect for enjoying the sunny climate of Armação de Pêra.
The valuation. The asking price of €350,000 is significantly above the fair value of €172,182, resulting in a 50.8% premium. This property is, therefore, overpriced.
Fair value modelled at €172,182 from the area baseline, adjusted for condition and location. Asking €350,000 sits €177,818 (50.8%) above — overpriced versus fair value.
Asking €350,000 versus the rua Álvaro Gomes, 3 area baseline of €409,404 (€3,756/m²) for a median-condition unit of this size — the gap before quality adjustments.
AI Condition Index 56/100 (Condition 60 · Materials 55 · Room dimensions 58). Below-median condition lowers fair value versus a renovated baseline unit.
Neighbourhood score 73/100 (Housing Market 75 · Amenities 70 · Economic 65 · Tenant Quality 80). Strong amenities and housing-market momentum support a premium to baseline.
rua Álvaro Gomes, 3
Area baseline €409,404 + condition -€32,189 + location +€17,218 = modelled fair value of €172,182 (€1,580/m²), a €177,818 (50.8%) gap versus the €350,000 asking price.
| Reference | Status | Price | €/m² | vs subject | Condition | Location |
|---|---|---|---|---|---|---|
| rua Álvaro Gomes, 3 | Subject | €350,000 | €3,211 | — | 60 | 73 |
| avenida Beira Mar | Active | €420,000 | €4,421 | 37.7% | 68 | 65 |
| Armação de Pêra · 023ba4 | Active | €189,500 | €3,575 | 11.4% | 60 | 73 |
| rua Quinta da Saudade, 6 | Active | €310,000 | €3,875 | 20.7% | — | 73 |
| Armação de Pêra · ac994f | Active | €398,000 | €3,317 | 3.3% | 65 | 69 |
| Median comp | €354,000 | €3,725 | 16.0% | 65 | 71 |
Short-term vacation rental This 2-bed apartment in Armação de Pêra, with a gross yield of 3.9% and a fair value significantly lower than the listing price, suggests a lack of financial viability for short-term rentals. The property’s seasonal demand is further complicated by a condition score of 56/100, making it less appealing to tourists seeking quality accommodations. Long-term rental Given the gap of 50.8% between the listing price of €350,000 and its fair value of €172,182, investing in this property as a long-term rental appears financially imprudent. The neighborhood’s decent quality score of 73/100 does not compensate for the high purchase price, which limits rental yield potential. Buy-and-hold The substantial overpricing of this apartment undermines its appeal as a buy-and-hold investment strategy, especially with a fair value that starkly contrasts the listing. While the area sees some tourist activity, the economic fluctuations driven by seasonal employment make long-term appreciation uncertain under current pricing conditions.
Economic Vulnerability The economic stability score of 65/100 indicates a moderate risk of economic downturns impacting property value and tenant demand.
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