Together with my wife we booked this apartment for 5 nights for the period between March 22nd and March 27th 2015. First I will discuss the price vs. quality - PERFECT BALANCE, we found it reasonably priced even for our Bulgarian standard and monthly income, which is probably a third of what a British or a Dutch/Nordic family receives.
The location - flawless again, two busses going to the central part in less than 10 minutes with their bus stop nearby, these two plus one more also going to Monte, where the gondola (cable car) upper station is. Just 5 minutes walk from the apartment down the street (Rua do Til) you will find a grocery store and local cafeterias with prices significantly lower if compared to what it is at the hotel district.
The apartment - excellently equiped, hot water all the time, and wow, you have a partial view to the ocean, a small banana garden, a mountainous stream and a waterfall (yep, that is true) next to your terrace:-)