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Market Insight Lisbon & The Silver Coast Summer 2012
LUXURY
Luxury is almost a buzz word in the real estate
sector but its definition differs among countries.
Location normally indicates the property’s value,
especially if it offers views (particularly water-
front views) and especial caracteristics such as
proximity to golf courses, beach areas, school
and central business distrits or downtown.
This classification also takes into account the
presence of surrounding homes, absence of cri-
me-rate, industrialization or unwanted commer-
cialization, customizations of the home, and his-
torical or architectural significance.
Perpetuity is in our opinion a condition for
luxury real estate classification. Size is not
important but living space cannot be compromi-
se. High-end finishings are a standard but don’t
subsititute charater in a property. The condition
for perpetuity is based on the law of scarcity
where the uniqueness of places (property, loca-
tion and usability) have a timeless perceived
value.
Luxury real estate entails greater responsibility
for agents who handle transactions than ordinary
real estate. Advertising to an international
audiance is mandatory to attract non-local
buyers, whereas ordinary real estate only gene-
rally requires local exposure. There are also
greater legal responsibilities for the luxury estate
agent, which often involve attorneys and anony-
mity issues.
Exclusive Penthouse Apartments in Chiado with panoramic views over the historic downtown area and Tagus river. The exclusivity of unique living spaces in a unique private residence condominium, built to set a new stan-dard in luxury and refiment in Lisbon city. 2 Duplex units with 4 and 5 bedrooms, wide living areas and private out-
door spaces. Price: POA
Exclusive Period dated apartments in Avenida da Liberdade ofering with wide spaces in the heart of Lisbon
Central Business Distrit. The apartment is composed of double living room, office, 3 bedrooms, one en-ensuite and kitchen. Wlaking distance to private schools, shopping areas, restaurants and a variaty of service, conviniente and leisure amenities. Price: POA
Market Insight Lisbon & The Silver Coast Summer 2012
Four bedroom apartment in private residence condo-minium located in Lisbon historic centre, with several leisure and service amenities at walking distance. POA
Four bedroom apartment in private residence condo-minium located in central Lisbon with several leisure and service amenities at walking distance. POA
Contemporary 3 bedroom villa with double height cei-ling in the lounge area, excellent natural light, wide windows, private pool, terrace and a private garden bounded by Quinta da Marinha golf course. POA
Magnificent 3 bedroom apartment in the first line of the coast, offering panoramic views towards the sea. Integrated in a luxurious condominium in Estoril. POA
Four bed beachfront apartment in Cascais, offering panoramic views, wide spaces and individual terraces in all bedrooms. POA
Four bedroom apartment in private residence condo-minium located in central Lisbon with several leisure and service amenities at walking distance. POA
Four bedroom villa with private pool, mature garden offering full privacy. Located in a high-end area of Cascais, 5 minutes from the centre and golf courses POA
Market Insight Lisbon & The Silver Coast Summer 2012
HOLIDAY
HOMES Choosing a holiday home is no easy Job. Not
only is the second most valuable investment a
person makes in their lives, but it also carries
with it a certain level of uncertainty especially
when it comes to the right location. Price is not
added to equation as people will only spend what
they can afford, and with the absence of banks
support, investing is really down to savings. The
market is fully transparent when it comes to
prices, as after spending some time looking at
properties through the Web, people get a pretty
good idea about what the market offers at each
price level.
What differentiates a good from a bad in-
vestment? Here are some mandatory guide
lines to make a good decision when it comes to
buying a home overseas:
1—Political stability—Its wise to look at coun-
tries that are Politically sustainable as they will
have an impact on the legal and fiscal part of
property investment.
2— Sustainable neighborhoods— communi-
ties are an important part of the equation. Look
for more established communities that can guar-
antee social life all year round. Skip over-
secluded areas that are only 100% operational
during the summer season, unless that’s exactly
what you're looking for
3—Views—Despite the difference in price it is
worth the extra money. Not only it provides an
outstanding lifestyle but it also guarantees a
higher demand on the resale market.
4—Terraces and other exterior areas—you
can compromise interior space as long as it pro-
vides outdoor space for BBQ or al fresco dinning
not to mention some of the best recharging mo-
ments laying down in a sun bed
This charming cottage is located in Quinta da Marinha,
a stunning complex in Cascais, walking distance from the beach and golf courses. Mature garden. €790,000
This villa boasts stunning views over the valley and the
sea towards the local beaches. The villa is approx. 15min from Sintra. Great charater. Price: €800,000
Contemporary design, panoramic views, unique loca-tion. 3 bedroom villa in the best spot of Praia D’El Rey Golf Resort. Price: P.O.A.
Hillside located offering open views towards the Atlan-tic Ocean, golf course and beach. Walking distance from restaurant, bar and gym. Price: €1,400,000
Market Insight Lisbon & The Silver Coast Summer 2012
Impressive contemporary villa set in a hilltop with excellent views towards a vineyard area that surrounds the property. Outstanding design. 4 hectares POA
Four bedroom apartment in private residence condomin-ium located in central Lisbon with several leisure and service amenities at walking distance. Price:850,000
Contemporary 3 bedroom villa with double height cei-ling in the lounge area, excellent natural light, wide windows, private pool, terrace and a private garden bounded by Quinta da Marinha golf course.Pr:€625,000
4 houses hillside located of contemporary design, offe-ring panoramic views of the ocean, full privacy and high-end finishings. Featuring 3 bedrooms villas with private pool Price: P.O.A.
4 bed villa with ocean views, at walkimng distance from the beach The villa is fully equipped with garage and pool . 50 minutes to Lisbon. Price:650,000
2 Bedroom beach front apartment in in Praia D'El Rei resort, within walking distance to beach and restau-rants. Excellent terrace with panoramic views. Price: €350,000
Market Insight Lisbon & The Silver Coast Summer 2012
EXECUTIVE
RELOCATION
Portugal is not just a great place for holidays,
surfing, golfing or site seeing. Our fabulous bea-
ches and singular weather conditions have posi-
tion this country as one of the best and more
exclusive residential tourism destinations in
Europe. But this is not the only source of inter-
national buyers in Portugal.
In the last 5 years international demand from
executives relocating to Portugal have register a
considerable increase. Africa has been one of the
reasons sourcing both sides of the market, Exe-
cutives realocating from Africa to Lisbon region
and international corporations using Lisbon to
establish commercial relationships with local and
african partners already established.
The brotherwood between Brazil and Portugal
has also generate some demand in the capital
city, with executives being relocated to Lisbon
due to the African connection but also as a fami-
liar place and our connection to Europe.
The international mba (Lisbon mba) is also
atracting international students and news of
foreigns studing Portuguese as a international
language as also receive some attention from
buy-to-let investors.
Lisbon, has become a geo-politic strategic point
in this part of the world, and despite the focus
on the private rental sector s a solution for relo-
cation, there is genuine interest in purchasing
top-end properties in historic and consolidated
areas of the city.
An exclusive one bed apartment built with the charater of a classic building and the confort and luxury of modern living. Located in Chiado. Price: €680,000
The apartment is located in one of the main avenues of Lisbon, near university, popular street shopping and leisure areas. Price: €622,000
Apartment located in a prime area. An excellent option. Privacy and location are two of your top list requirements. Price: €360,000
3 bedroom apartment in private condominium, offering wide spaces, double lounge, terrace and views towards the communal garden and pool. Easy access to high-way and beach area. Cascais. Price: €800,000
Market Insight Lisbon & The Silver Coast Summer 2012
BUY-TO-LET
INVESTMENTS Lisbon well positioned to attract
buy-to-let investors
Lisbon has seen a marked shift in recent years
towards a rental market. As a result of the recent
economic crisis in the country and the resulting
new policies aiming for higher solvency and the
reduction of banks overall debt, the number of
households has declined. Higher interest rates,
lower LTV ratios and the need for professional
mobility are turning Portuguese buyers towards
the private rental sector.
Lisbon’s strategic plan was presented earlier this
year by Dr. Antonio Machado, president of the
city-hall, where a list of determinant factors for
long term sustainability, prominence and social
and economic development were presented to
the audience.
There were two major vectors highlighted in the
strategic plan: i) urban rehabilitation and ii)
entrepreneurship. The first one, which is already
in place with several projects accomplished and
others to start later this year, is related to the
recovery of riverfront areas by promoting leisure
and commercial areas on the banks of the river.
This plan also includes the rehabilitation of the
urban landscape, especially the historic areas
almost forgotten for the last two decades, and
which are Lisbon postcards for the tourism sec-
tor. Continues on the following page
One and three bed apartments in a traditional neighbe-rhood, walking distance to Lisbon castle , restaurants, public transportation and other services Pr: €240,000
A charming touristic house Integrated in Quinta da Marinha resort walking distance to the golf course, gym and hotel. 5 minutes from Cascais. Pr: €265,000
This private condominium isl ocated located in the hosto-ric centre, near restaurants, university and other ameni-ties. One and two bed apartments. Price from: €249,000
Two bed duplex apartment in prime area, near hospital s, university and embassies. Terrace with views towards St. Jorge castle. Low maintenance. €350,000
Market Insight Lisbon & The Silver Coast Summer 2012
Lisbon offers many investment opportunities in
restored buildings in central points of the city.
The charming atmosphere of the capital city owes
much to the picturesque Pombaline architecture
that paints the city with bright colors and elegan-
ce. These older properties are now on the radar
of real estate investors who seek higher returns
from the rental market. Discover a city where
old buildings are converted into up-market resi-
dences in exclusive locations.
The second strategic vector is the facilitation and
creation of entrepreneurship. The project was
launched this year with a start-up incubator
(startuplisboa.com) and one of the participating
companies has already been chosen to represent
Portugal in the greater global entrepreneurship
competition in Barcelona. The aim is to create
vibrant new companies who will generate
employment and wealth for the economy.
As these types of strategic innovations are rolled
out in Lisbon, buy-to-let is becoming a real driver
in the market as demand for rental apartment’s
increase and selling prices adjust reflecting mar-
ket conditions. Lisbon offers excellent investment
opportunities in the low-end and top-end of the
market and in a variety of locations.
For more information about buy-to-let or other
property investment opportunities in Lisbon con-
tact us at lisboa@winkworth.pt or directly to
(+351) 91 8621 869
Spain on the other hand have massively attracted over-
seas buyers on the last 20 years based on price, not out-
standing the fabulous coast and exotic culture, but it faces
an enormous challenge nowadays related to the extensive
urban landscape along the coast. Mass markets are mate-
rialized in a less planned territory and less differentiation.
Here is where Portugal wins against any other
destination. Its size makes Portugal bigger on
the European holiday market. Along the coast
You will find niche property markets with con-
trolled supply and adequate demand that fore-
seen good investment opportunities. The
increasing frustration of British buyers that
want to get out of the Spain and don’t find
buyers for their holiday homes almost at any
price has hit British news, and despite being a
negative feedback for residential tourism it
emphasizes the fact that small markets, such
as Portugal, represent better investment opportunities for
overseas investors than mass markets. Quality in Portugal
comes as a strategic option, but also as a differentiator
factor of a small market, considerably unexplored, that
offers security and uniqueness.
More reasons to smile
With British Pound increasing its value against the
Euro, properties are becoming more attractive this
summer. The evident weakness of the eurozone eco-
nomy materializes a less strong currency despite the
efforts of the European bank to mantain a strong
Euro. Should you expect a further reduction on the
euro? Its natural to think so, but there’s no prediction
on how much and how long it would take. There are
mechanisms that allow you to cover currency risks.
Ask our Winkworth financial advisors for more info.
Big markets vs. Small markets
Why big is not good and why you should look for
small markets
Property is a location based market, as value differs
from location to location even on comparable prod-
ucts. Simplistically we can
agree that Supply and De-
mand are the two forces
that define market prices,
although we all know fi-
nance is one major force in
this equation too, but put-
ting that aside, purchase
prices are given when sup-
ply meets demand.
So, we can also agree that
over-supply will force the
price down (see figure above).
Portugal has been recognized, for many years now,
as a Quality Market Destination, and the reason as
much to do with its market size than to a strategic
decision of product positioning towards the interna-
tional markets.
Market Insight Lisbon & The Silver Coast Summer 2012
Winkworth since 1835
Winkworth originated in central London in 1835. Our original Head Office was located in Curzon Street, Mayfair, with a country office in
Brighton. Our main business involved selling residential property to an exclusive client list and letting houses in Mayfair to the landed gentry
for 'the season'.
Of course, things are very different today. Society has changed and so has Winkworth. Our network now has over 80 independently owned
and operated offices. Over 50 offices are located in prime central London and greater London, established country offices are located across
the UK and carefully controlled expansion into exclusive international markets has taken our business to France and Portugal.
As a name synonymous with prime residential real estate, Winkworth has become the obvious choice for both UK and international buyers
and sellers.
The Network
Every single Winkworth office is owned by an independent proprietor, whose market expertise is unlikely to be surpassed. Our proprietors
and their staff are encouraged to be active members of the local community too, which means they have a vested interest in ensuring every
client receives an exemplary service. All our offices work together. They share business and refer those clients that they can't help, perhaps
because they don't cover the area in question, to an office that can. As a client, you don't just benefit from the services of one Winkworth
office, you benefit from a whole network of offices, plus the specialist marketing services of the Franchisor Office in London.
Winkworth Lisboa | +351 918 621 869 | lisboa@winkworth.pt www.winkworth-international.com