Discerning investors are heading to Portugal to benefit from the country’s booming real estate market and it’s easy to understand why it’s currently considered one of Europe’s top investment locations.
After emerging from recession, the property market has been improving due to strong local demand and an influx of international investors. In 2014, foreign buyers spent €4.6 billion ($5.22 billion) on property and 2015 is on track to set a new record.
Tamea International is an independent consultancy that specialises in sourcing Portuguese property for overseas buyers. The opportunities its offers are carefully selected to ensure that clients have access to superb investment opportunities in the finest locations.
According to Tariq El-Asad, Managing Director of Tamea International, now is the perfect time to invest. “The Portuguese property market has a bright future. Prices are still around 20 per cent below 2009’s peak and most analysts forecast growth of five per cent per year for the next five years – we’ve seen nine to 12 per cent growth in some Lisbon neighbourhoods this year alone.”
International buyers are being drawn to Portugal by the country’s charm, warm climate and natural beauty but also thanks to a series of new investment incentives. In 2012, the government introduced the Golden Visa programme which allows non-EU nationals to apply for residency and citizenship through investment – most commonly through the acquisition of real estate worth €500,000 ($568,000) or more. The programme has been a huge success, attracting €1.6 billion ($1.82 billion) of investment within the first two years.
Tamea International’s Lisbon office provides a turnkey service for Golden Visa applicants, which includes sourcing suitable property, handling the purchase and processing Golden Visa applications.
“Many clients approach us with the Golden Visa in mind; the ability to travel throughout Europe without a Schengen Visa is appealing, as is the prospect of a European passport. One of the reasons it has been so popular is because applicants can often extend the applications to their immediate family. Our clients invest with their children’s futures in mind – they want to give them different options in life.”
Spurred by strong dollar-based currencies and direct flights operating daily between Dubai in the UAE and the Portuguese capital of Lisbon, an increasing portion of the international market is made up of investors based in the Gulf.
“Interest from the Gulf is definitely increasing. Some clients are looking for holiday homes whilst others simply realise that Portuguese real estate offers excellent value for money; that’s particularly true if you compare Lisbon to other European capitals.”
Tamea International is promoting the launch of Liberdade 12 and Liberdade 71, two exceptional developments on Avenida da Liberdade, Lisbon’s premiere shopping boulevard.
Liberdade 12 is a unique project encompassing two late 19th century/early 20th century buildings that are being transformed to create opulent residences and an upscale fashion quarter. The project will feature 24 stunning apartments and owners will gain exclusive access to the Clubhouse, consisting of a relaxing spa and a fully equipped gym as well as the privilege of enjoying extensive private gardens and a 24/7 concierge. Prices range from €635,000 to €2.8 million ($722,000 to $3.18 million).
Meanwhile, Liberdade 71 is made up of 17 luxury apartments in a fully renovated building with a concierge, and features a private rooftop terrace and swimming pool. The development consists of one- to four-bed apartments ranging from 70 to 350 sq m. Some of the three-bedroom apartments boast beautiful 20-sq-m terraces and the unique four-bedroom penthouse has 350 sq m of living space and a terrace of 45 sq m. Residents benefit from underground parking as well as a luxury boutique on the ground floor. The interior decor is designed by Monica Penugião of Poeira, who has created decor packs for clients to personalise their homes. Prices range from €545,000 to €3.5 million ($620,000 to $3.98 million).
Surrounded by the city’s finest boutiques, restaurants, hotels and theatres, these sumptuous new homes are a breath of fresh air and luxury that brings a touch of modernity to the historic centre of Lisbon.
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