Luxury Hotel Apartments is the new frontier of property investment in Portugal: focus on the market thanks to our Prestige MLS Member Consultan. Based in Lisbon, Consultan is a recognized real estate agency with a high experience and know-how in new development projects.
Buying at the bottom of a market that is about to rise is every investor’s aspiration. As Portugal begins to emerge from the financial crisis of the past seven years, some investors believe acquiring property in Lisbon is one way to realise that ambition.
House prices in the country increased by 5.9 per cent in the second quarter of 2014, according to Portuguese government statistics released in September. And international speculation on Portuguese real estate is growing fast.
In Lisbon, prices are still very favourable. You can buy in prime locations, which in many other European capital cities have become unaffordable.”
Lisbon’s Principe Real – a hilltop suburb within walking distance of the city’s premier shopping districts. Portuguese fashion designers, architects and advertising agencies are based here, and there are quirky boutiques and upmarket antique stores alongside local bakeries, grocers and cafés.
The low cost of property in the city is part of its attraction: “In Lisbon, prices are still very favourable. You can buy in prime locations, which in many other European capital cities have become unaffordable.”
In London, where costs for prime residential properties are about €33,000 per sq metre. Even smaller European capitals are significantly more expensive than Lisbon. “In Vienna you’re paying around €25,000 per sq metre for a well-developed asset in a prime location; in Lisbon the cost is around €6,000 per sq metre for the same thing.”
There are two programmes in Portugal that are particularly appealing to investors: the Non-Habitual Residents (NHR) regime, which is attracting primarily European buyers; and the Golden Residence Permit (GRP), which is attracting primarily Chinese, Angolan and Brazilian buyers.
The NHR programme offers people moving to Portugal for the first time reduced tax rates or tax exemption for 10 years on certain incomes. Some forms of creative income are also exempt from income tax and recent high-profile movers to the country have included designer Philippe Starck.
Portugal’s so-called “golden visa” has also had a significant impact on the property market for non-European nationals – it gives foreign investors who spend €500,000 on a property the right to live in Portugal. They are also free to travel around the EU and after six years can apply for Portuguese citizenship. According to Henley & Partners, a total of 1,441 golden visas have been issued by Portuguese authorities so far. Chinese nationals continue to dominate demand, collecting 1,159 of the visas, followed by Russians with 46.
No doubts, Lisbon is on the top of the attractive luxury hotspot in Europe! In this contest, Consultan is proud to announce that they have in charge the sales of « The Lumiares », a luxury hotel apartments new development in one of the best location in Lisbon.
The historic 16th century Palácio dos Condes de Lumiares, from which the property derives its name, is situated in the middle of Bairro Alto, one of Lisbon’s most sought after real estate areas. Enjoying a central and prominent hill-top location, the Lumiares Luxury Hotel Apartments command wide views over Lisbon and its majestic river, the Tagus River (Rio Tejo).
The 5* hotel apartments all offer underground parking and secure storage facilities, as well as the amenities that you would expect from a world class 5* hotel: a Spa, Gym, two luxury branded shops and a cosmopolitan rooftop bar, the Alto Bar, commanding amazing views over Lisbon.
This rooftop bar, which will showcase many of Portugal’s finest world-famous wines, will also offer international gourmet light dining in the evening for all and breakfast to apartment guests in the morning.
The Lumiares Luxury Hotel Apartments will be branded as an independent 5* luxury hotel apartments, representing the best that Lisbon has to offer in terms of design, heritage, culture and character. All apartments will benefit from a professional management structure for owners and the very best facilities and levels of service for guests.
For more information about Lisbon and its real estate opportunities, please contact right now Consultan.
*Source Financial Times