Last updated on April 26, 2024 | Est. Reading Time: 2 minutes
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Experience the vibrant beauty of Faial, known as the “Blue Island” for its stunning hydrangeas that bloom in summer. Explore the port city of Horta, a popular stopover for sailors crossing the Atlantic, and discover the island’s unique volcanic features, including the Capelinhos Volcano and the stunning Caldeira crater. For those looking for a place in the Azores to call home, Faial could be the perfect 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.
The island of Faial is renowned for its lively marina and Horta’s slightly more cosmopolitan flair, courtesy of the steady stream of transatlantic sailors passing through its storied port. Nicknamed the “Blue Island” for its vivid hydrangea hedgerows, Faial is also famous for its striking vistas of the neighbouring Mount Pico volcano.
Being part of this closely-knit island trio means easy access to your neighbors. The islands of Pico and São Jorge are just a short 30-minute ferry ride away from Faial’s shores. This connectivity provides a feeling of having amenities and adventures within reach while still enjoying Faial’s tranquil insular setting. For wider travel, Faial has its own airport with flights connecting to other Azorean islands as well as mainland Portugal.
Horta serves as Faial’s main town. The steady stream of visitors gives Horta a livelier feel that’s hard to find on some of the more remote Azorean islands. Here you’ll find an array of restaurants, cafes, banks and other conveniences. However, Faial’s charms extend well beyond Horta, with picturesque towns and villages dotting the island’s landscapes.
In terms of real estate, Faial follows the Azorean pattern of having more houses than apartments on the market. Many of these properties require some level of renovation work, and may come with plots of land. Newly constructed homes are less common but do become available from time to time for those seeking a simpler option.