Market matters C

OMING from an international background, Alison and Kerstin moved countries eight times before they were teenagers. They were at school in the UK then at their chosen universities – Alison in the US, Kerstin in Switzerland.

The one constant throughout their childhood and growing-up years was their much-loved holiday home in the Algarve. Kerstin, with her hotel management degree, moved here in 1992 and worked initially with the sales team at Four Seasons Fairways; Alison arrived with her family arrived in 1997, having run a company manufacturing and distributing cotton goods from Thailand.

Alison joined Quinta Propriedades Lda, which had been established by Helen and Peter Mills in 1995, while Kerstin was with a competing real estate agency, Richard Neubersch Lda.

In 2003 the sisters joined forces and bought the company from the Mills. The rest is history. But it’s what makes up that history as well as the present, that is fascinating.

For starters, they renamed the company Quinta Properties and later QP Savills, and take pride in knowing that their relationship with Savills is one of the group’s most successful worldwide. As sisters and business partners they have shared and continue to share the same vision, and dedicate themselves to developing the business and broadening its interests.

With Alison focused more on the sales side, and Kerstin on marketing, they work in unison, each complementing the other.

Today they have three offices – the original one in Quinta do Lago, the second, opened in 2017, in Vale do Lobo, and the most recent addition, in Loulé in 2019 – and a big team of professionals, 27 right now, but always growing.

Skilfully positioned

QP Savills is known for top-of-the-market properties. “If you are ever going to be good at something, you have to be passionate about it and specialise,” says Kerstin. “Focusing on high end properties, we soon carved out a pretty good reputation. Much of it had to do with our clients. We have had the pleasure of working with some of the most interesting and successful people in Europe and from around the globe whose houses are, of course, quite exceptional.”

Over the past 12 months, QP’s average sale price has been €3.1m, average being the key word. “Our most expensive property and possibly most gorgeous to date, which is also the most expensive residential property ever sold in Portugal, realised just over €21m,” says Alison.

“The top price property we have on our books today is a single residence at €40m, an example of the next generation of property. But when compared to competing markets like the South of France or Miami, our prices here on the Algarve, even at €40m, are small-time with a lot of room to grow.”

To date, QP Savills has achieved an impressive €1.65 billion in sales, with 80% of the properties it handles located in the central Algarve.

“Our buyers have predominantly been from the UK. But this is changing,” Kerstin explains. “The market is becoming more international, with growing numbers coming from other parts of Europe, as well as the States, India and South Africa.”

Changing trends

And what about style? “When we first started, the demand was shifting away from the Moorish influences that had been popular and moving to the more traditional Michael Brown style. Then, architects like Vasco Vieira came on the scene with his cool contemporary designs that introduced a new sense of dimension and detail.”

Emerging now is a shift in demand when it comes to location, too, the sisters and their team report.

“We are seeing growing interest in the hills, which is why we opened our office in Loulé,” says Alison. “There is very little for sale in Quinta do Lago and Vale do Lobo right now and if you are looking to buy a four to five-bedroom house in those resorts, there is not much choice and you will need to invest a minimum of €5-6m.

“However, if you drive ten minutes out of those areas, the price per square metre is less than half, and there are some truly magnificent houses being built.”

Since Covid, with increasing numbers working from home and young families planning to move to Portugal, homes that feature office space and great internet connections are in demand, as is more outdoor space – a hangover possibly from being locked up inside during the pandemic.

Buying and renovating to retain or resell remains very popular among purchasers. Kerstin explains: “It is lucrative and much faster than buying a plot and starting to build from scratch. The biggest problem these days is that there are not many ‘old houses’ left to buy.

“Remarkably, some of our clients today are buying properties and pulling them apart and ‘renovating’ them, a clear demonstration of the extraordinary wealth that is coming into the Algarve.”

Remaining loyal to their brand is a top priority for the sisters. The properties they take on do not all need to be in the multi-million-euro bracket, but they do need to have that certain something. Either they are extraordinary in style, design, and comfort, or they have an extraordinary location, or are a fabulous investment opportunity.

Say it with flowers

The QP Savills website is the best generator of new clients for the company. “Our portfolio speaks for itself,” says Kerstin. “Most of our business comes from there, closely followed by word-of-mouth referrals from past clients, and our vibrant marketing activity.” Few will have missed this year’s message of celebration, with the QP offices literally wrapped in stunning floral displays, bursting with colour and a symbol of new beginnings and growth.

And how quickly are properties shifting right now? “Many serious buyers keep an eye on our website and stay in close contact with our sales team,” Alison reports. “As soon as something new comes onto the market and catches their eye, they come and view it. Quite often we sell a property before we even have time to market it properly. Our advice to vendors is to not dismiss the first fast offer. Even though it might seem too easy, a lot of work may well have already gone on to have this buyer in hand, and once dismissed you may need to wait quite a while for the next bite.”

Seared duck breast with grilled asparagus, poppy seeds and chocolate clove vinaigrette

CHEF, TEACHER AND CONSULTANT, VÍTOR SOBRAL IS ONE OF THE GREAT REFERENCES AND AUTHORITIES OF PORTUGUESE GASTRONOMY. HE HOLDS THE RANK OF COMMANDER OF THE ORDER OF INFANTE D. HENRIQUE, GIVEN IN 2006 BY THE PRESIDENT OF THE PORTUGUESE REPUBLIC, JORGE SAMPAIO, FOR HIS PERFORMANCE AND DEFENCE OF NATIONAL FLAVOURS

SERVES 4

Ingredients

 4 duck breasts

 Sea salt, to taste

 Freshly ground black pepper

 15 sticks of green asparagus

 25ml extra virgin olive oil

 Sea salt to taste

 Freshly ground black pepper

 100g rocha pears, finely sliced

PEAR AND TURNIP PURÉE

 15g minced garlic

 150g diced onion

 50g diced leek

 450g diced potato

 185g diced turnip

 400g diced pear

 5g sea salt

 1g ground pepper

 25ml extra virgin olive oil

 325ml milk

VINAIGRETTE

 150ml red wine

 75g chocolate

 100ml extra virgin olive oil

 25ml red wine vinegar

 3 cloves

 3 jamaican pepper seeds

TO FINISH

 Poppy seeds

 A few sprigs of rosemary

Prep 60 Minutes

Method

1 For the pear crisps, bake the pear slices, sprinkled with powdered sugar, for one hour at 100°C. Set to one side.

2 Season the duck breasts with salt and pepper, score the skin and sauté in a hot pan, skin side down. Remove fat, turn and brown the other side.

3 Place duck breasts in oven preheated to 180°C for 10 minutes.

4 Grill the asparagus and season with salt, pepper and olive oil. Set to one side.

5 For the turnip purée, combine the olive oil, garlic, onion and leek. Add the diced potato and turnip and milk. Cook on a low heat until soft. Add the diced pear, season with salt and pepper, bring to a boil, then process to combine.

6 To make the vinaigrette, put the wine and spices in a saucepan over a low heat and reduce by two thirds.

7 Add the chocolate and vinegar, remove from the heat, stirring constantly so that the chocolate melts.

8 Emulsify the chocolate mix in a blender with the extra olive oil. It should be thick and smooth.

9 To serve: Place the asparagus on the plate, top with a spoonful of purée, then the duck’s breast and a trickle of vinaigrette. Sprinkle with poppy seeds, garnish with the pear crisps and sprigs of rosemary.

Chef Vítor Sobral

Chef Vítor Sobral is currently responsible for Lota da Esquina in Cascais, Tasca da Esquina, Taberna da Esquina, four bakeries – Pão da Esquina – all in Lisbon; and two Tasca da Esquina restaurants in São Paulo, Brazil. He is also an author and co-author of more than 20 books and along with his many awards, he holds the Mais Alentejo prize for gastronomic excellence. In Brazil, he received the Diploma of Gratitude from the City Council of São Paulo for services rendered to the community.

Lota da Esquina, Cascais, is open 364 days a year. The restaurant is on two floors each with its own distinct atmosphere. ‘Water’ is open Monday to Sunday 12:30–00:00; ‘Fire’ is open Wednesday to Saturday, 19:30–00:00.