Ten reasons to buy at Praia D’El Rey:
1. Potential for Growth
Praia D’El Rey is an established resort with a track record in property sales, lettings, management as well as being one of Portugal’s best-known holiday destinations. And yet the stretch of coast it sits in is not a major holiday home destination – yet! It is set to become one over the next five to ten years however.
2. Better value than the Algarve
If you go to the Algarve and try to buy an apartment, town house or villa on a quiet and private stretch of coastline with access to a championship golf course and beach, then you may be surprised how affordable Praia D’El Rey is by comparison. We believe that, as the Silver Coast becomes as well-known as the Algarve, so the potential price uplift in the medium to long term is a strong reason to invest in Praia D’El Rey.
3. The region has famous friends
Channel 4′s A place in the Sun TV programme recently claimed that Portugal’s Silver Coast is one of the top three best European location to invest in property, with a potential of a 360% return within 10 years. And Praia D’El Rey sits at the very heart of this region.
4. Prices have been rising
Despite the recession, the region is still a good investment, prices have risen by 40 per cent in recent years (based on resales values at Praia D’El Rey between 2003 and 2008) and will continue to do so after the global economy has recovered. Overall, the supply and demand for residential property in Portugal is continuing to grow. Since 2000 house prices have increased on average between 10-15% per annum. This is a strong market for buy-to-let investment and year-round yields of some 10% are being achieved in the golf and beach holiday markets.
5. They know what they’re doing
Praia D’El Rey’s growth is built on solid foundations; over the last 10 years they have built over 1000 properties, a 5 star Marriott Hotel, a tennis centre, and a cliff-top golf course recently voted the best in Portugal.
6. Truly exclusive beachfront property
Praia D’El Rey is one of last places in this region to be granted permission for development directly on the beachfront and there is no option for further building. This means these unique properties with their spectacular views over the Atlantic will never again be repeated on the Silver Coast. Many properties are available off-plan so you only have to pay 30% on signature of contract, with the remaining only due on completion, generally within two years after construction begins.
7. Easy to get to
It often said that successful overseas property investments are the ones no more than an hour or so from the nearest airport and Praia D’El Rey fulfils that criteria. The resort is just over 60 minutes from Lisbon International Airport, with its direct daily flights from most major European airports. Plans to build a new international airport in Lisbon and a high-speed train connection from Lisbon to other major European cities will see the country and region opening up to even more international trade, all of which creates a buzz which rentals and resales will take advantage of.
8. It’s a prime location
Praia D’El Rey is a luxury development that appeals to Europe’s affluent holiday makers and second home owners offering a five-star experience including golf, food, service and location, attracting famous visitors to its hotel and properties.
9. Good rental returns
The facilities, including the luxury Marriott Hotel, have made the resort both popular with holidaying families seeking luxury, privacy and an exclusive experience, but also a magnet for golf and tennis enthusiasts keen to try out their skills on the championship-standard facilities. This means investors looking for both healthy income and capital appreciation should consider Praia D’El Rey. And remember, your property can be totally managed for you; from cleaners to maintenance or even stocking your cupboards before you arrive. If you are looking for your property to generate income for you, then it can be entered into the rental pool and managed on your behalf.
10. Tax benefits
Apart from sun, sea, sand, stunning properties and a good return on your investment, you may be able to benefit from certain tax advantages, contact your lawyer or financial adviser for more information.