In this episode of Notes From the Field, Ronan McMahon reports from Lagos on Portugal’s Algarve coast, where rising demand and tightening inventory are driving a powerful real estate boom.

Broadcasting from a three-bedroom condo overlooking the Lagos marina and the Atlantic Ocean, Ronan shares his latest boots-on-the-ground research into one of Europe’s most desirable lifestyle destinations. From growing international demand to shrinking resale inventory, the forces shaping the Lagos market are becoming increasingly clear—and increasingly powerful.

For investors who secured early opportunities in Lagos developments like Adega, Dona Maria, and Dona Anna, the results have been dramatic, with significant capital appreciation and strong rental demand already taking hold.

But beyond the numbers, Ronan explains why Lagos has emerged as a fully livable international beach city—attracting retirees, remote workers, and lifestyle buyers from across Europe and North America.

In this dispatch, Ronan breaks down what he’s seeing on the ground today, why inventory is becoming increasingly scarce, and where he’s searching for the next “Lagos-style” opportunity along Portugal’s coast.

In This Episode

Ronan discusses:

• Why Lagos has become one of the Algarve’s most desirable real estate markets
• The international demand driving the city’s rapid growth
• How tax incentives and lifestyle factors are attracting European retirees
• The influx of North American buyers and digital nomads
• Why resale inventory has become extremely scarce
• The strong appreciation seen in RETA member opportunities
• The quality and positioning of projects like Adega, Dona Maria, and Dona Anna
• The coastal areas Ronan believes could become the “next Lagos”

Key Takeaway

Demand for real estate in Lagos continues to surge while available inventory shrinks—creating the kind of scarcity that has historically driven some of the strongest real estate gains in international lifestyle markets.