With Portugal's brand new Formula One race track, the Autodromo Internacional do Algarve F1 Circuit almost ready and raring to go, will all the new attention from the world of Motor Sports increase interest within the Algarve property circuit?

Pole Position

The Algarve has been popular with tourists for years and now with the opening of the Autodromo Internacional do Algarve just around the bend, the region is gearing up for even more visitors.

Already an area that is renowned for its golf courses, big game fishing, sailing and scuba diving, the race tack is expected to bring a further one million tourists a year to the Algarve.

On Track

The ambitious race track under construction in Portimao will be open for the Portuguese round of the Superbike World Championship scheduled for 2nd November 2008.

As well as the circuit, the project also includes a karting track, a technology park, a luxury five-star hotel, a sports complex and numerous apartments.

The complex occupies an area of nearly 300 hectares, including a racing track offering 64 variations, the longest being 4,692 metres for Formula One competitions. The circuit has already been approved by FIA for Formula One and by FIM for the Moto Grand Prix.

The circuit is located in Escapadinho, in the foothills of the coastal town of Portimao. Around 195 million Euros has been allocated to the development of the Autodromo, making it the biggest investment ever in the Algarve.

With Faro airport just an hour away and an additional road from the A22 motorway being built, access to the area will be easily achieved.

Fuel Consumption

One of the main concerns associated with the project is the environmental impact the race track may have, particularly for those living near to the venue.

Environmental Impact Studies were carried out by experts and approved with a commendation from the environmental organisations.

But the biggest issue could be the noise levels, even though the construction company are confident that the sound barriers built will minimise the effect on neighbours as much as possible.

Breaking Tradition

Portugal has not featured on the Formula One calendar since the 1997 season, when Jacques Villeneuve won the final race held at Lisbon-based Estoril.

The Formula One bosses pulled the plug on future races being held there, when the race track fell below the safety standards expected of Grand Prix events.

Since then, there has been no indication that Estoril has suffered due to the absence of Formula One, as the area continues to attract a high number of tourist. However, similar to the rest of the country, levels of tourism trade in the area are proportionally down on previous years.

If the Algarve does get the green light to host Formula One, it remains to be seen if that will have any impact on the popularity or tourism trade of Estoril.

Driving the Property Market

It is expected that more than a thousand new jobs will be created by the Autodromo project and tourist levels will substantially increase as visitors flock to see the sporting contests, all of which will have a positive impact on the local and national economy.

And with the complex located outside the coastal zone, there should be more of a focus on the inland of the Algarve, therefore combating the problem the region has suffered with tourists mainly arriving during the seasonal summer months and staying by the sea. The Autodromo will offer an excellent alternative to existing products of the Algarve.

The development and promotion of the complex may also have a positive effect on the local property market. Any growth in employment and tourism trade, especially during the off-peak season, should create higher occupancy rates for buy to let investors.

Already a good area for rentals due to its frequent visitors, the Algarve also has some of the highest property prices in Portugal, according to Global Property Guide research. Often referred to as the 'other market' in Portugal, the region continually seems to perform independently to the rest of the country, supported by its golf and beach tourism.

Dan Johnson, Managing Director, comments:
"The Autodromo Internacional do Algarve, will speedily promote the regions assets even further by creating more jobs and increasing the levels of tourism. The local and national economy can only be boosted by the project, which should drive the demand for properties even higher as investors rally for a first class bargain."

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By the end of this year, the Quinta da Ombria Hotel and Spa, Castle and Golf Resort will be inaugurated, offering an 18-hole golf course.

In 2009, ground will be broken for a new resort complex, with an eye toward preserving nearby forest lands and supporting local farms. Ultimately, 1,700 guest beds will be included in this new five-star tourist resort in the Algarve.

Also scheduled to open in January 2009, the Tivoli Victoria in Vilamoura is a new tourist investment which aims to attract business conferences to the region with its 900 square meters of meeting space, plus a ballroom, two restaurants, three bars and both an indoor and outdoor pool.

The resort's on-site spa has also been announced as the first state-of-the art infrastructure of its kind in the Algarve. The hotel has a total of 280 rooms, including one presidential suite, two executive suites and 14 junior suites.

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The Algarve is still strongly recommended to people who want to invest in a luxury second home or to those who are just looking to experience a new concept of retro holiday with friends or family.

In a report published by the UK newspaper The Telegraph, experts from the real estate sector say the country will hold its position despite the impact of the international crisis generated by the US sub-prime market last year.

This, the newspaper said, is because banks are less exposed to that market and also because the housing boom that oversupplied other countries in recent years, like neighbours Spain and France, did not hit Portugal with the same intensity.

Tourism and real estate experts insist that prices in the Algarve region have "risen faster" than in the rest of the country in recent years.

However, prices only increased by 0.13 per cent in 2007, after a six per cent increase in 2006 (see The Resident edition of September 19).

The slowdown has affected some of the lowest categories of the real estate business but experts believe it is not seriously affecting the up-market developments such as golfing or marina luxury homes.

According to Shelter Offshore, an online publication dedicated to information about investment and life offshore for British people, "golf and marina property in Portugal is certainly worth a little closer inspection" for those looking for a place to invest.

It also says a new trend is in place with marinas overtaking golf "as the key driver at the top end of second-homes market."

"Anyone who buys now is getting in on a market where there is demand, affluence and affordability - factors seriously lacking elsewhere in the world of real estate."

Retro holidays

The Telegraph report also makes much of what is described as retro-holidaying. "Even time-honoured vacation settings like Carvoeiro and Albufeira are going retro and becoming fashionable again, for holiday makers and real estate investors."

Included are many other villages in the Algarve, such as Praia da Luz, Ferragudo, Aljezur, Tavira, Silves and Loule, where tradition is still mixing with safe and friendly environments for families.

Contrasting with the high end tourism concept that is associated with the growing golf and luxury resorts, the retro tourism trends aim to go back to the old fishing villages where tradition and ancient arts coexisted with clean and spacious beaches.

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A HUGE number of Brits head for Portugal's sun-drenched southern coast every year.

And the vast majority travel with the aim of taking advantage of the Algarve's sensational natural resources, namely: endless sunshine, golden sands, crashing seas and miles and miles of pristine golf courses.

You can improve your golf swing or your all-over tan without wandering more than a few hundred yards from the coast.

I discovered this fact during a wonderful week's stay at the immaculate Hilton Vilamoura As Cascatas Golf Resort & Spa.

It's fair to say that everyone deserves a little luxury and the Hilton Vilamoura provides a much-needed treat as well as access to wonderful facilities, both recreational and sporting.

From the moment you step through the door to the time you reluctantly check out and head back to the airport, you feel as though you are living like the proverbial Other Half.

Flying in from Newcastle, my holiday began at Faro Airport where I picked up a hire car before making the easy 25-minute journey to Vilamoura where the Hilton is situated about five minutes' from the town's pretty, bustling marina.

The resort itself is classy without being pretentious or clinical, and perfect for families or couples not looking for hedonistic nightlife.

Once I'd parked at the hotel - or, to be precise, handed the keys to the valet parking attendant – there was little use for a car, especially if your intention was to base yourself at the hotel and take things easy.

The Hilton offers a shuttle service to and from its own stretch of pristine beach.

It takes all the hassle out of a day by the seaside. No lengthy walks in the blazing sun burdened with heavy bags.

It was a case of stepping out of reception and jumping into the waiting people carrier.

After picking up your beach towel from the attendant, you can throw it down and stretch out on the sand to catch some rays.

Or you can pick one of the loungers and sunbathe in a degree of luxury.

If the sea's not your thing, you can laze around the pool - make that pools! The Hilton has no less than six and, between swims, you can soak up the rays on a sun lounger and enjoy a drink and a snack from the bar.

Other forms of on-tap relaxation include the hotel spa and, for the more energetic, the gym.

Budding golfers can work on their game in the hotel simulator before testing their skills on one of Vilamoura's five world-class courses.

With so many welcome distractions to occupy your time, you won't want to spend too long in your bedroom, but it's good to know the suites are the first and last word in comfort.

And with so many activities to enjoy, what better than a filling breakfast to set you up for the day?

I can confirm that the hotel's buffet breakfasts were stupendous.

You could choose traditional English bacon, eggs, toast and beans; stick with cereal; tuck into an omelette; go for continental pastries, cheeses and cold cuts or feel healthy by sampling the wide choice of fresh fruit.

Or, why not try a bit of everything - as I did - washed down with fruit juice or coffee.

Just like the Hilton Vilamoura, it certainly leaves a nice taste in the mouth!

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Portugal is one of the world's top 20 most-visited destinations, with the Algarve being the most popular area for tourists.

It experiences year-round sunshine, spectacular landscapes, wonderful beaches and excellent golf facilities.

It is a firm favourite with British holidaymakers, as well as Spanish, German and French tourists.

Anyone who is thinking of purchasing a buy-to-let property can attract guests throughout the year. During the summer months families flock to the Algarve's beaches, while keen golfers who want to play in the warmer climate when the courses are less crowded, enjoy visiting in the winter.

The Algarve has been a magnet for golfers for several decades and boasts over 30 courses, with several new ones under construction.

The region has its own airport in Faro, which is served by many low-cost routes and most destinations in the Algarve can be reached within an hour-and-a-half from the airport. There are also plans to build a second airport in the region over the next few years.

Faro itself is a city well worth visiting. It has both Arab and Roman ruins but most of the attractive older buildings were constructed after the earthquakes in 1755 and 1532.

It also has a long sandy beach and a marina. The old part of the city is surrounded by the Roman walls, which date back to the ninth century, and a chapel lined with the bones from over a thousand monks.

A popular destination with tourists is Albufeira, which has grown from a tiny fishing village to become the most popular holiday resort on the Algarve.

A fine selection of beaches extend east and west from the town and for those who like culture, there is a small museum of 15th and 17th century Ming ceramics and a Municipal art gallery that holds regular exhibitions during the season.

A new marina has been completed and in the evenings there is a copious collection of bars, restaurants and clubs where you can relax after a hard day in the sun.

Also in the western Algarve, Lagos has plenty of property investment opportunities with several new developments taking place there.

Lagos is a beautiful seaside town with many shops, bars and restaurants. It boasts nine beautiful beaches and there are several golf courses nearby.

On the latest developments here a three-bedroom villa surrounded by golf courses and beaches costs £356,910, while a newly constructed five-bedroom villa with fantastic sea views is on the market for 477,690 pounds.

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The completion of a new motor racing circuit on the Algarve may help boost the value of property in the Portuguese region, it has been predicted.

As many as a million extra visitors per year may come to the Algarve because of the presence of the Autodromo Internacional do Algarve, Homes Worldwide reports.

The circuit will host a stage pf the World Superbikes Championship on November 2nd this year, while it also has the capability of staging a Formula one race, something Portugal has not done since 1997, when the last Estoril race was held.

Such a development may prompt some to consider investing in Algarve property.

Those looking for new developments that could create property hotspots in Portugal may also look to the village of Sesimbra, which lies south of Lisbon.

Connie Vitto of Quadrant Property told the Financial Times the area is "definitely a place to watch", since a decision was taken to build a new international airport for the Portuguese capital nearby.

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Hotel Quinta do Lago has been rated as one of the best 500 hotels in the world, according to the American Travel and Leisure magazine. This Portuguese five-star hotel, which spreads over an area of 2,000 hectares of hills and pine-woods, in the Ria Formosa estuary, was ranked above other iconic hotels, such as the Mount Julie Conrad in Ireland or the Hotel Savoy in Italy.

With a score of 82.15, the Quinta do Lago Hotel was considered the best in Portugal and the only one in the Algarve to make it into the top 500. The Quinta do Lago resort opened in 1970 when tourism investor Andre Jordan recognised that the Algarve was about to become a gold-mine. Quinta do Lago, then a 550 hectare-site, had been in the ownership of the Pinto de Magalhaes family for more then three centuries. After some initial difficulties, Jordan chose an old farm-house, known today as Casa Velha, as the base for his project.

The first master-plan was drawn by a team of Portuguese architects and engineers, directed by Pedro Vasconcellos and Luis Nobre Guedes. The philosophy of Quinta do Lago has always been to offer clients the option of privacy, tranquillity and seclusion when they required it and an active social and sporting life combined with a wide range of leisure facilities.

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