As our plan to buy in Portimão had been disbanded I decided to move further east. I found a very nice apartment in Olhão and, as we were back to square one, my husband decided to come down and join me for a few days. Before he arrived I went back to Ilha da Armona to see the house we’d liked last November which was still on the market. I knew my husband had reservations about buying on the island as I explained in a previous post but I had fallen in love with the place!The agent we had met in November who works for a smaller agency in Olhão was very professional and helpful. We quickly built a good relationship.
The house on Armona had been renovated but not everything was to our taste. There was scope to put our own stamp on it and still remain within budget. I learned that the rental potential between Easter and October was extremely good with higher rental prices than the mainland. This would compensate for the lack of winter lettings.
My husband arrived and was now convinced this would be a good buy as a holiday let. So we had a builder give us an estimate as to what the work would cost and we started to negotiate on the price through the agent.
There were two days left before our flight back to Norway and we were waiting for an answer on our most recent offer. We had a hire car so we decided to go to Tavira. A work colleague of my husband had spoken positively about a golf break he’d taken there. During my research I had looked online for potential properties for sale in Tavira without any luck. It seemed prices were more expensive there than Olhão and Armona and most of the properties were apartments which we didn’t want.
I remember so well the moment we drove into the centre of Tavira. What a beautiful city. We sat outside and drank coffee near the Roman Bridge. Our first impressions included how clean and tidy it was. There was life in the town without the bustle and commercialism of Portimão and a surprising number of tourists for February. But we had made our decision to buy an investment property on Armona island. Maybe Tavira was a place we could look at to settle when we retired?
The next morning we heard from the agent in Olhào that the foreign owner of the Armona property had decided to take it off the market……