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, 2-bathroom apartment of 171 m², built in 2008, energy rating C. Located on beco da Corcovada, 1, Albufeira e Olhos de Água parish, Albufeira municipality, Faro district. Noteworthy Features: The apartment boasts a renovated kitchen featuring high-quality stainless steel appliances and granite countertops, complemented by elegant hardwood flooring throughout the living areas.
The valuation. The asking price of €499,000 sits very close to fair value of €498,400, within a marginal difference of €600, making it a fair deal in the current market.
Fair value modelled at €498,400 from 6 comparable sales in the area. Asking €499,000 sits €600 (0.1%) above — overpriced versus fair value.
Asking €499,000 versus the beco da Corcovada, 1 area baseline of €372,984 (€2,181/m²) for a median-condition unit of this size — the gap before quality adjustments.
AI Condition Index 79/100 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 €372,984, adjusted for condition and micro-location, gives a modelled fair value of €498,400 (€2,915/m²), a €600 (0.1%) gap versus the €499,000 asking price.
| Reference | Status | Price | €/m² | vs subject | Condition | Location |
|---|---|---|---|---|---|---|
| beco da Corcovada, 1 | Subject | €499,000 | €2,918 | — | 81 | 74 |
| Albufeira e Olhos de Água · 23f26a | Active | €399,000 | €2,771 | 5.0% | 70 | 69 |
| Albufeira e Olhos de Água · 1e640d | Active | €399,000 | €3,325 | 13.9% | 72 | 58 |
| Albufeira e Olhos de Água · 6fbaa3 | Active | €535,000 | €2,524 | 13.5% | 76 | 71 |
| Albufeira e Olhos de Água · 4d468c | Active | €395,000 | €2,821 | 3.3% | 71 | 65 |
| Median comp | €399,000 | €2,796 | 4.2% | 72 | 67 |
Short-term vacation rental The property in Albufeira is well positioned to attract tourists, supported by the Algarve's strong tourist-driven economy and amenities tailored for visitors. However, considering its fair valuation and a yield of 4.5%, it is crucial to assess overall market conditions before pursuing this investment. Long-term rental With a fair value set at €498,400 and a gross yield of 4.5%, this 2-bed apartment can provide stable returns for long-term tenants in a neighbourhood with a decent rating of 74/100. The current condition score of 79/100 is positive but requires ongoing management to maintain tenant satisfaction and retention. Buy-and-hold Investing in this 2-bed apartment as a buy-and-hold strategy is reasonable given the current fair valuation and the community's established amenities, ensuring future appreciation potential. The relatively high yield of 4.5% could provide consistent income, although careful monitoring of the housing market is essential due to the marginal gap from fair value.
Economic Vulnerability The property has an economic stability score of 65/100, indicating potential weaknesses in the local economy that could impact property value and rental income.
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