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.
3-bedroom, 2-bathroom apartment of 132 m², energy rating B. Located on azinhaga da Patinha, Quelfes parish, Olhão municipality, Faro district. Features: This apartment boasts a spacious terrace with all-day sun exposure, ideal for outdoor dining and enjoying the Algarve's climate, alongside high-quality finishes and modern design elements. Location: Perfectly positioned in Quelfes, Olhão, near Ria Formosa's beaches and all essential amenities.
The valuation. The asking price of €410,690 is well below the fair value of €491,000, representing a discount of €80,310 or 16.4%. This indicates the property is underpriced relative to current market conditions.
Fair value modelled at €491,000 from 6 comparable sales in the area. Asking €410,690 sits €80,310 (16.4%) below — the upside to fair value.
Asking €410,690 versus the azinhaga da Patinha area baseline of €411,692 (€3,119/m²) for a median-condition unit of this size — the gap before quality adjustments.
AI Condition Index 86/100 is above the parish average, lifting fair value versus a typical-condition unit.
Recent nearby listings price above the wider parish average — a hyper-local premium distinct from the parish baseline.
Base gap of €411,692, adjusted for condition and micro-location, gives a modelled fair value of €491,000 (€3,720/m²), a €80,310 (16.4%) gap versus the €410,690 asking price.
| Reference | Status | Price | €/m² | vs subject | Condition | Location |
|---|---|---|---|---|---|---|
| azinhaga da Patinha | Subject | €410,690 | €3,111 | — | 82 | 68 |
| Olhão · dbd477 | Active | €755,000 | €5,171 | 66.2% | 77 | 66 |
| azinhaga da Patinha | Active | €530,000 | €2,994 | 3.8% | 84 | 61 |
| avenida Dom João VI | Active | €399,000 | €4,030 | 29.5% | 85 | 63 |
| rua Custódio Domingos Pereira Neto, 7 | Active | €430,000 | €4,624 | 48.6% | 74 | 71 |
| Median comp | €480,000 | €4,327 | 39.1% | 81 | 65 |
Short-term vacation rental The property in Quelfes, Olhão is well-positioned as a short-term vacation rental in the Algarve, where tourism drives demand. With a fair value indicating a 16.4% gap, this investment can capitalize on the area’s popularity with tourists seeking accommodations. Long-term rental Given its favorable location and decent condition score of 86/100, the property is a strong contender for long-term rental opportunities in a tourism-driven economy. The yield of 3.2% complements the fair value assessment, suggesting potential stability in rental income. Buy-and-hold Investors pursuing a buy-and-hold strategy can benefit from the property’s current pricing, which is 16.4% below its fair market value. Holding this asset in a growing tourist region like Algarve could yield significant appreciation over time, underlining its potential as a valuable long-term investment.
Potential Vacancy Risk The economic stability score of 65/100 suggests potential fluctuations in the local economy, which may lead to higher vacancy rates affecting rental income.
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