Last updated on April 26, 2024 | Est. Reading Time: 2 minutes
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Discover the smallest and most remote island of the Azores, Corvo, a true hidden paradise in the middle of the Atlantic Ocean. With its single village, Vila do Corvo, and a population of just over 400 people, Corvo offers a truly unique and intimate island experience and a wonderful place to buy your next property.
The BuyProperty Color wheel compares prices from other properties in the same location with the same characteristics and represents prices using our color coding mechanism.
Property is 20% less than average price
Property is 20% above or below average
Property is 20% more than average price
Color Meaning for Rental Rate Yields
We compare properties in the same area with the same characteristics with properties on popular rental websites then combine average rate for the entire year. We multiply the average rental rate by the occupancy to find the estimated yield for each property.
Yield for this property is over 5%
Yield for this property is 3-5%
Yield for this property is below 3%
Holiday rental rates shows average throughout the year. Rate will be more during the summer and less during winter in general. Estimates are based on properties being refurbished as some properties in disrepair will not be able to get rates listed.
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This opportunity is ideal for those seeking to save or generate income while purchasing property in Portugal, whether it's for personal use or on behalf of others.
How do we calculate the distress level of each property?
A distressed property typically belongs to a bank or is set for a government auction. Buyproperty extends this definition by providing a distress and stress percentage for each property across Portugal. Properties in bank ownership or scheduled for government auction receive a distress rating of 100%. Moreover, Buyproperty evaluates the stress level of all other properties using 27 unique data points. These points consider factors such as the length of time the property has been on the market, the frequency of price reductions, the property type, and whether the local area is facing price declines, among others.
Corvo is the smallest island in the Azores archipelago, with only around 400 residents calling it home. Living on this secluded isle would be a truly unique experience of getting away from it all. Given the tiny population, properties rarely come up for sale, but when they do, they are typically standalone houses rather than apartments.
Almost the entirety of Corvo’s small population is concentrated around Vila do Corvo, the island’s only town. This is where you’ll find the ferry port and airport – though flights are only available to the nearby island of Flores, underscoring just how remote this destination is.
Vila do Corvo has a couple of tiny restaurants, cafes, and minimarkets squirrelled away, but amenities are limited. Everything from food and drink to pharmaceutical supplies needs to be shipped in, usually from Flores.
Despite its isolation, Corvo sees a trickle of daily visitors from Flores, most of whom come to hike up to the Caldeirão crater or take a bus tour up the winding mountain roads. While these day-trippers provide a small influx of new faces, many leave by evening. However, this presents an interesting opportunity for entrepreneurial residents looking to capitalise on Corvo’s untapped tourism potential by offering overnight accommodation and experiences.