Considerations when buying new properties in Portugal
This new two-house property development project is located in the heart of Cascais and sits in one of the most exclusive areas of this region - Monte Estoril, home to the Portuguese aristocracy and one of the most coveted areas of Cascais. Monte Estoril is one of the most expensive areas to live in Portugal, with premium access to high-quality international schools, as well as being located within close distance to the Nova School of Business and Economics which is one of the largest and best new international business schools in Europe.
If you are planning to raise children, this area is well situated with a combination of good schools and international universities, as well as providing access to high-quality private health services such as the CUF Hospital, and with a large number of preschool daycare nurseries, Monte Estoril will satisfy the needs of young families and with close access to the Lisbon Portela Airport, international access to other cities makes this an ideal business hub. Lisboa has also become a tech hub in recent years with new international businesses establishing headquarters in Lisbon, with high English language proficiency and a well-educated workforce, the cost of living in Lisboa is still below most other European cities, with wages for tech engineers often below 1000 euros per month.
Portugal has many tax incentives for new companies to invest, with grants and funds to match investment in Portugal from foreign investors. The package that Portugal offers new entrants is very attractive and as well as all of that, Portugal is a relatively safe country with fewer social issues than other northern European countries that have experienced troubles in recent years with immigration and social challenges.
If you are thinking of setting up home in Portugal to take advantage of the nice weather, good food and many incentives offered by way of schooling, health care, employment and investing, this could be one of the best decisions you’ve ever made. It is not an easy country to navigate with regards red tape, which is tedious, to say the least, but notwithstanding, this country has so much to offer people who are looking to make investments and start new businesses. It’s very obvious that the government has gone to great lengths to make Portugal and Lisboa especially investment-friendly.
So why buy a house in Cascais and Monte Estoril?
Property prices have risen in recent years in these areas substantially, this rise is mostly driven by new inhabitants coming to Portugal with tax incentives such as the NHR regime and the Golden Visa program, both of these programs have attracted many internationals to come and set up home in the region. Some of these incentives are now coming to an end supposedly, but with the smart government in place, we can be assured that other new incentive programs are ready to be launched to replace these incentives. The Portuguese government has shown remarkable management techniques to improve the countries standing, removing Portugal from the trio of Greece, Italy, and Portugal, which is no longer heard in the same phrase. Now people talk about Spain, Greece, and Italy who are the southern European countries still in crisis, but Portugal has cleverly lifted itself out of the recession phase that it was in 5 years ago, and in recent years has experienced a boom in housing prices for rentals and house sales, as well as enjoying a great improvement in tourism which all has added pressure on property demand.
If you are looking for a propery investnent in Cascais, this invesmtent propery will set you back 1 million euros and will stand to be sold for 1.6 Million euros when complete in 18 months time, as an investor in this project you will have full control and security over the project planning and financial transparancy. This project is secured by the land and at no stage, will the investor have put money in that is at risk of not being spent on the project. With Escrow backing and a partnership opportunity, the investor will be an integral member of the team and will benefit from all the tax incentives that have been baked into this project planning from the start. As such, the portion of the money that goes into the value of the house and land is much higher on this project than on a standard commercial project that you typically find in the area. On typical projects, the profits and taxes will account for more than 50% of the total value being paid, where as on this project is a not for profit project without the typical losses that you will experience by buying property from an estate agent!
New House Build - Property Construction - Monte Estoril - Cascais
This five-story house, boasts an internal lift, with an overhanging rear balcony section that increases the living areas and garden area by cleverly playing with spaces so as to make the best use of the allowable spaces. As a result of the advanced engineering, the views will be staggering and with evening sun this arrangement makes for a suitably fun living. The garden supports a lap swimming pool, 11*2m and will be heated using geothermal energy, cleverly designed and installed at the development stage of construction. The house will be cladding in natural stone finishing, with zinc and wooden areas to soften edges and increase the visual excitement and appeal. This house will be built to last with limited long term maintenance requirements, such as it won’t need to be repainted every few years.
The internal bedroom spaces are generous with plenty of storage and cupboard spaces. There is parking for two cars and over 100sqm of unobstructed garden area. The house enjoys good privacy and has energy efficiency in mind with design features that lower the dependance on long term fossil fuels, and reduces requirements on the energy grid by increasing the quality of insulation and window U Ratings, so as to ensure better efficiency. As well as these features the house will be wired with various popular voltage lines for mobile devices, laptops, and wifi, router, tv controllers, avoiding the constant drain from 240vs using power supplies. This house will be wired with electrical energy that derives from standard batteries and standard solar panels, along with low consumption lighting, so as to be very sustainable.
Smart Houses - That Are Not So Smart
There is a trend in recent years to wire houses with all sorts of energy-consuming gadgets that power alarm systems, remote viewing cameras, internal lighting that is controlled from the internet, and a host of other features such as electric blinds and lights that turn on automatically when you walk around the house. If that’s not enough you can even have toliets that monitor your output and inform you on health issues. These sorts of extras are not going to be included in this project, the focus on this project is to create a self-sustaining low consumption low maintenance house that will cost as little as possible to maintain and run over the course of its lifespan while being super comfortable and fun to live in.
Cascais - Monte Estoril, New Houses - Property Construction
There has been an increase in new constructions being developed in the Cascais and Monte Estoril areas, with prices ranging from 8000 to 9000 euros per square meter for a new property. These market prices are currently what is being paid for high quality finishing and good locations. Despite the fact that this project enjoys high-quality finishing and a fantastic location, the price per square meter for the project is more like 4000 - 5000 euros per square meter. This is because the house is being purchased off-plan and the investor will be able to leverage some tax advantages by buying into a project that has been well planned. By the time this house is finished the projected retail price according to current valuations for the property will be in excess of 1,600,000 euros and possibly as high as 2,000,000 euros depending on market prices at the time. Take a look at these houses if you are looking in this area as prices listed are well below current market valuations.