We like lots of people on this site live in Vale Da Telha - ticks all your boxes except price box! Property is very cheap here 'v' rest of Algarve but you'd be looking at a tiny terraced Village house at that sort of price and property takes ages to sell. - If you 'do-up places' and speak French why not 'do-up' some French places - seems an easier option. No local work for Brits in this area - another reason prices are lower. But good luck and have a good think about this
Thanks
Trent