EXCLUSIVE: Singapore investors will get one of the first opportunities to learn about Portuguese property investments this weekend when an award-winning project is launched in the city-state.
To meet growing interest amongst its clients seeking investment opportunities in the European country, Singapore’s Premiere Realty is hosting a preview for its customers of Lisbon 8 this weekend.
An award-winning historical building located right in the centre of this city, Lisbon 8 (pictured) is a freehold property developedby Habitat Invest, in partnership with BES – Banco Espírito Santo, Portugal’s Number One Private Bank.
Lisbon 8 is a 13,000 sqm landmark development located close to the Tagus River and is just beside Lisbon’s famous Ribeira historic public market and park.
The building will undergo significant urban rehabilitation and refurbishment to bring about a construction of higher quality.
Just a here-minute walk away from Cais do Sodré, Lisbon’s major bus, metro, train and ferry terminal, Lisbon 8 is located in a prime location in the heart of the city. City planners have designated the area around Lisbon 8 as a part of Lisbon that will be largely urbanised within the next five years.
The building was the former headquarters of the Portugal Post Office, and its clock tower was conserved as a symbol of its dedication to delivering postal correspondence according to specific hours. At the time it was built in the 1950s, it was the most modern building in Lisbon, and was recognised as an outstanding quality construction building.
Lisbon 8 was recently awarded the top prize as Lisbon 2013 “Building of the Year” at Portugal’s SIL Real Estate Awards.
To target investors seeking rental income, Habitat Invest will adapt each apartment to short-term rental service apartments, catering to travellers or businessmen seeking a modern “home away from home” with a rich, historical and traditional atmosphere
“For any investor, buying a property in a top location is of utmost importance. Investors can take advantage of a weak Euro to buy these apartments located right in the heart of Lisbon.
“Combining its historical value as the former headquarters of Portugal’s Post Office with its prime location, we are confident that this launch will help draw attention to real estate investment opportunities available in Portugal,”said Florence Ang, Premiere Realty’s Marketing Consultant for Overseas Properties.
As the project is developed in partnership with BES, financing is available.
Lisbon 8 is expected to be completed by September 2016. There will be 106 apartments and 18 commercial shopsavailable for purchase. Prices for Lisbon 8 start from €135,000 for a 36 sqm studio apartment (approx. S$602/psf).
Property investors who buy properties in Portugal can even consider long-term residency as Portugal offers the best ‘Golden Visa’ program in Europe, allowing a non-European Union investor and their immediate family members to apply for long- term residency if they spend a minimum amount of €500,000 in Portuguese real estate.
The minimum amount can be made up by investing in one or more properties, and the ‘Golden Visa’ Visa enables visa-free travel in Europe’s 26 country Schengen Zone.
For more information: www.lisbon8.com, Premiere Realty at sales@premiererealtyglobal.com or call Florence Ang at 96911404.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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