It´s not difficult to understand why prices went up in Algarve in such a short period of time. Algarve´s region has wonderful beaches like the one in the picture above. In summer time the region doubles or triples it´s population.
Algarve is a great touristic destination at attractive prices. Plus, it became a University center and many students come from other regions of Portugal to study in Algarve´s University.
A big change occurred in 2002, currency. Before European Union Euros arrived Portugal had it´s own currency: "Escudos".
After my country adopted the European currency things became more expensive and everyone noticed it. All essential goods prices, such as bread, rice, milk, meat, butter, etc, doubled or tripled. It was a difficult change, specially to older and poorer people. The currency change had an impact on Portuguese economy but we survived.
Algarve´s region is developing. Construction is expressive and, in the past years, house prices went up across all region.