AGE OF DISCOVERY

A perennial favourite with UK buyers – now the rest of the world is turning up to sample the new capital of cool - Lisbon - as it rides a tide of investment optimism. By Tania Jacobs

With its miles of sandy cove beaches, pristine golf courses and temperate climate, Portugal has long been a honey-pot destination attracting holidaymakers and second-home buyers since the 1970s.

As getaway locations go, conversion rates from visitor to homeowner status have traditionally seen a predominance of UK buyers signing up for a slice of holiday-home life, with a stable stock of competitively priced properties to suit most budgets.

More recently however a changing foreign buyer footprint has reshaped the real estate landscape, with vintage capital Lisbon in particular, seeing the most gains and the government’s Golden Visa Programme and tax incentives proving successful at attracting new interest in this old-school city.

“We’ve always had English, Irish and German buyers, but now we’re seeing new nationalities investing here,” says Ana Paulo Estevao of IN’S Portugal. “We’ve had our first Chinese buyers, Scandinavians, French and other non-Europeans, including South Africans, too.”

According to a Jones Lang LaSalle market report released at the beginning of the year, the proportion of the real estate market in Portugal made up by foreign investment has increased from 45% in 2012 to over 70% in 2016.

Property prices meanwhile while still down from their 2007 peak, according to figures by the Confidencial Imobiliário Index, are expected to continue their climb back. Recent statistics also confirm that this is the fourth year in a row in which there has been an increase in property sales, with experts forecasting growth in 2017 of about 4% this year, after increasing by just over 7% in 2016.

“A rise in foreign investors is certainly placing upward pressure on property prices,” adds real estate consultant Jeremy Perry. “Along with greater buying power among Portuguese, supported in part by less stringent mortgage lending conditions.”

Located just 20 minutes’ drive to the west of the sweet-spot capital, one of the country’s wealthiest municipalities garnering its share of investor attention is Cascais. Located on Portugal’s smartest stretch of coast that has rocketed from sleepy fishing village to much-loved beach playground for the stylish, cosmopolitan traveller with its trio of golden bays, there’s plenty of post-beach life, with winding lanes leading to small museums, cool gardens, a shiny marina and a pedestrianised old town dotted with designer boutiques and alfresco fish restaurants.

Setting an impressive benchmark in the area and wooing both foreign and domestic buyers with an attractive portfolio of property options is the award-winning Sheraton Cascais Resort.

Located in the heart of Cascais town and with quick and easy access to Lisbon International Airport, the five-star Resort boasts a wide selection of luxury accommodation, comprising 1- and 2-bedroom suites and deluxe residences, all built to the highest standards with an elegant, contemporary design finish.

Newest to the resort’s real estate offering are The Residences, comprising three and four-bedroom luxury freehold properties - a unique investment opportunity with various rental programme options available. Properties are also compatible with the Non-Habitual Tax Regime and Golden Visa Programme.

Brands such as Poggenpohl, Hansgrohe, Duravit, Provenza and Sicis Iridium feature in the stunning spaces.  Prices start at 995,000 euros and attractive lease back plans are also available to guarantee a return on investment.

“The Resort is an especially attractive proposition for families,” explains Marketing Manager, Vasco Leitao, “with an extensive portfolio of leisure amenities to tap into. As well as the in-resort restaurants and the recently launched Serenity Spa, owners can also enjoy Membership at the Cascais Yacht Club - one of the most prestigious in the country with access to exclusive benefits at partner Yacht Clubs around the world, including the Yacht Club Monaco and the Royal Hong Kong Yacht Club.”

Golf lovers meanwhile can enjoy associated members’ benefits, including preferred tee-off times at local championship courses including Quinta da Marinha, Penha Longa and Oitavos Dunes. Preferred member rates and access to the tennis and racket club within walking distance of the resort, ensure preferential treatment in one of the best and most exclusive clubs in the region.

For those considering a more permanent move to the area - the Resort has partnered with a leading local international school and can assist with visits and admissions processes. Partnership with one of Portugal’s leading private health institutions, with hospitals and clinics throughout the country also allows homeowners access and special benefits in private hospitals and clinics and other associated health institutions.

Adds Leitao: “Not only do The Residences afford the possibility of overseas investors buying into a community, there are of course the wider benefits that purchasing brings - The Golden Visa Scheme and the Non-Habitual Residents Scheme. Add to all of this, personal usage, solid yields and guaranteed returns, and it’s no wonder Portugal is going from strength to strength both as a second-home and a destination for relocation.”

For more information, visit: www.livinginportugal.com and www.goldenvisa-portugal.com