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Portugese Prowess
06.12.21Latest industry reports confirm the Portuguese property sector is continuing to go from strength to strength, with dynamic capital Lisbon leading the way. Abode2 explores the investment opportunities in this blossoming market, with Sean Gaskell, COO of RE Capital
Boasting an impressive quality of life, long, hot summers, mild winters and superb food and wine, not to mention stunning coastal resorts and vibrant cities, Portugal is an alluring destination with a huge amount to offer. It’s perhaps of little surprise that more and more people are choosing to purchase property in this thriving market, as Sean Gaskell, COO of RE Capital explains: “Portugal is known for its superior quality of life, relatively low cost of living, advantageous tax system and over the years, its booming travel industry as well, all of which only serve to sweeten the opportunity for global buyers. In addition, there’s a variety of incentives available for those wanting to live or spend time in the country.” This desirable lifestyle has had a positive impact on residential real estate market and created a thriving wider economy and attractive investment opportunities. Sean adds: “While property prices have increased rapidly in many parts of the country in recent years, there remains strong potential for long-term capital growth within the wider market, which means it continues to be an attractive investment proposition.” Portugal’s thriving economy and status as a business- friendly country – following major infrastructure projects across the country - have also broadened its international demand base in recent years, attracting global talent for its fast-growing start-up scene, especially in the tech sector in cities like Lisbon. Prime residential property values in the Portuguese capital, now stand at an average of €8,400 per square metre. The highest prices can be found in the Santo António district - home to some of Lisbon’s most famous landmarks, including Marquis of Pombal Square and Avenida Da Liberdade - where prime property averages €11,200 per square metre.
Adds Gaskell: “Lisbon is, a captivating capital city with the most charming, historic districts which have a finite amount of development space. Demand continues to pull away from supply in the prime residential market with existing homes selling well and an increase in purchases on plan. Demand for houses versus apartments is also up by 51% in 2021 compared to the first tranche of 2020. Looking long-term, Lisbon is undoubtedly on course to mature on a global stage while offering value in both a European and global context.”
Where to invest in Lisbon
Located in the heart of one of Lisbon’s trendiest neighbourhoods, The Marvilla Collection is set to an exciting new address for the Portuguese capital. Marvila has emerged in recent years as a cultural and creative hotspot, with an eclectic mix of tech start-ups, art galleries and independent boutiques all calling it home. As the area undergoes an exciting period of renaissance, this development represents the latest addition to the increasingly in-demand riverside neighbourhood.
The Marvilla Collection offers a unique collection of 166 properties, which include studios, one, two and three- bedroom apartments, along with impressive residents’ amenities, set across five striking buildings - including the impressive transformation of a 19th century baroque palace, previously the headquarters for wine merchant, José Domingos Barreiros. The five buildings are thoughtfully designed to form a precinct with a central landscaped courtyard. The Palace Building, dating to 1887 and classified as a national monument, retains its grand proportions, high ceilings and stunning original features, offering just 19 one-of-a-kind residences. Meanwhile, the Riverside Building’s 1887 façade faces south and looks out towards the River Tagus, offering 34 apartments with beautiful private balconies and terraces, and far-reaching waterside views.
With cutting-edge architecture, The Studio Building provides the best of urban living with 43 cleverly designed studios, one and two-bedroom apartments. A bold addition to Lisbon’s cityscape, apartments boast exclusive access to the interior garden courtyard, with an impressive terrace and pool atop the building. Apartments feature free-flowing layouts with open-plan kitchen, living and dining areas, designed to accommodate a variety of different lifestyles.
Prices at The Marvilla Collection start from €220,000 for a studio apartment.
www.marvilla.pt
info@marvilla.pt.
A striking alternative investment opportunity in the capital, is LX Living, located in the heart of Lisbon’s prestigious and sought-after residential neighbourhood, Amoreiras.
Created by one of Lisbon’s leading architecture firms, Saraiva + Associados, LX Living offers a bold new addition to the Lisbon landscape, with 150 beautifully appointed residences comprising a range of studios, one, two and three-bedroom apartments and penthouses. Designed as two structures linked by a landscaped internal plaza, apartments offer the finest in luxury living, with spacious living areas, open-plan kitchens, integrated appliances and luxury finishes, as well as solid timber floors.
A series of large, cantilevered balconies – creating private outside space for many of the apartments – punctuated by dramatic voids, creates a striking exterior to the building. Every apartment at LX Living benefits from at least one allocated basement parking space, a rare offering for a central Lisbon home.
The development features an array of facilities for both 20 residents and visitors, delivering a 5-star experience all-year- round. Bringing an exciting lifestyle offering to the local area, there will be two restaurants and a bar – ideal for hosting business meetings or socialising with friends and family.
Private residents’ amenities include an internal plaza, the perfect place to enjoy peace and quiet with two swimming pools, a day spa, as well as a rooftop garden and a sundeck, offering sumptuous views of the city’s skyline. With the growing popularity of remote working, LX Living is well equipped with a range of amenities to facilitate the lives of digital nomads and flexible workers, including high-fibre internet connectivity throughout and several lounge and meeting spaces.
Prices at LX Living range from €375,000 for a studio apartment and €500,000 for a one-bedroom apartment, to €1,350,000 for a three-bedroom apartment.www.lxliving.com
info@lxliving.com
For more information about LX Living and The Marvilla Collection, contact Alan Bell on alan@rewardproperties.com, +351 967 233 823 / +44 7765 820 563 or visit https://rewardproperties.com/
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