A client asked me this week to value her mother's apartment in Lagos. Her mum is finally ready to sell, and she wants to list straight away if the number is right. That last part is the bit I'd underline.

There are 2,073 homes for sale in Lagos this week, about 60 more than last week, and buyers can see every one of them. Across the Algarve, sales fell 12.4% between April and June. The people still looking are choosy, and the ones paying in pounds have quietly gained ground. If you own here, that changes who you're selling to and how you should price. The Number below explains.

_{Sources: INE, Idealista, Euribor (EMMI), ECB.}

The pound and the dollar both buy more here this week, and borrowing got a little cheaper. More homes listed too: buyers have choice.

€1.18 · What £1 buys in euros, ECB reference rate, 7 October 2026: close to the pound's strongest level in a year.

Sterling has been climbing for weeks. At last November's low, £500,000 bought about €566,000. Today the same budget buys about €591,000, roughly €25,000 more, without the buyer doing anything at all. The dollar moved the same way this week, up about 1.4% against the euro.

What I'd do with this: if you own in Lagos and you're thinking about selling, British buyers are a big share of the people I show houses to, and right now their money goes further than it has all year. That doesn't mean you can add 5% to your price. Sales across the Algarve are down and buyers have plenty to choose from. What it does mean is that a well-priced home looks cheaper to them than it did last spring. Price for the market and let the currency do the stretching. Exchange rates turn quickly, so if you're planning to list in spring, don't build your asking price on this week's rate.

Sources: ECB euro reference rates, 7 October 2026; Pound Sterling Live, EUR/GBP history 2025 (low of 19 November 2025). General market commentary, not financial advice.

Book your second viewing on a wet day.

Almost everyone views in the Algarve when the sun is out. The houses that disappoint people in their first winter are the ones nobody saw in the rain. Many older villas were built for summer, with little insulation and no central heating. On a grey day, look for damp low on the walls and around windows, smell the bedrooms, and ask what heating there is and what it costs to run. October to March is the honest season to view.

Also this week on the blog: Portugal Has the EU's Fastest House Price Rise. Is Lagos Following? →

Hit reply with the one question about buying or selling here that you've never had a straight answer to. Tax, paperwork, which street floods in winter, what your place would really sell for. Ask it.

If it's mine to answer, I'll answer it plainly. If it's really one for a lawyer or an accountant, I'll tell you that and point you to the right person. I read every reply myself.

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