When you are looking for residential and/or lodging space, there is something for every budget, and the market overall is for a more specific target group, which makes it not overcrowded. There is plenty of supply. And so, in general, there is no need to make an impulse purchase.
For outsiders, it is especially important to first determine exactly what your wishes are and what you would like to achieve with it in the shorter and longer term, before you start orienting yourself on the purchase of real estate on the Azores.
“There is something for every budget, and the market overall is for a more specific target group, which makes it not overcrowded. There is plenty of supply. “
If you would like to settle there (semi-)permanently or, for example, be able to go back and forth easily and regularly, general accessibility throughout the year will be important. The main island of Sao Miguel, and the larger islands of Terceira and Faial are more structurally accessible than some of the other islands. In addition to inter-island flights, there are good inter-island boat connections, especially in the summer.
So first determine what your focus is. Are you looking for nature, tranquility and space around you or are you more looking for a place to stay as a base to explore further afield. In the first case, location, views, and quality of land will be a consideration, also within the islands there is much variation with its peculiarities and microclimates. In the latter, a residence in one of the historic centers of a centrally located island may be a better choice.
Whether the location should also be rentable to third parties is just as relevant to what may be an appropriate choice. Easy accessibility to city, sea, port and/or airport nearby are certainly points to consider in the orientation, as well as the extent to which the area is already under protected status or not and if so which, as is the proximity to the various tourist hotspots. Of particular importance is when you would also like to use it yourself.
Sometimes renting out during the high season (mid-June – mid-September) is considered, simply to cover expenses and maintenance of the property throughout the year. There are several websites to rent out a property temporarily, or through the local tourist information office.
Sometimes renting out property is considered specifically outside the high season, because then people do not want to use it themselves. In that case, it is often rented to locals, off season, during the fall and winter months. This can also be a good strategy. You get less per month on average for it, but over a longer period of time, and so it can also be used to cover running costs. For that reason, properties are often rented to teachers, as they often have a specific agreement for a school season, with a relatively long break in the summer months.
Since the Azores are starting to be become more in demand as a vacation and retreat destination, real estate prices did rise recently and are starting to get to a point where they are becoming unattainable for locals. This may start to pinch over time. The islands would do well to learn from experiences abroad and give some thought to strategies that strike a good balance between growth while at the same time also keeping it simply pleasantly livable for those who already reside there permanently.
