Portuguese Real Estate News 06/11/2023

CUF invests 35 million in the future hospital of Covilh?

The CUF Group has announced a 35-million-euro investment in the future Hospital CUF Covilh?, set to open in 2027, creating over 200 jobs and becoming the fourth CUF healthcare facility in the central region of Portugal, as reported by jornaleconomico.sapo.pt

The new hospital will offer a wide range of medical services, including 27 inpatient beds, two operating rooms, and 34 consultation rooms, as well as imaging services and a permanent adult care center.

The project, in collaboration with the Forumlar business group, aims to provide comprehensive and modern healthcare to a population of approximately 280,000 residents in the region, strengthening CUF's presence in central Portugal and expanding healthcare options for the districts of Castelo Branco and Guarda.

Portugal's Property Market: housing prices decline in Porto but Rise in 9 district capitals, including Lisbon

In October, housing prices in Portugal exhibited mixed trends, with prices falling in Porto (-0,5%) but rising in several other cities, including Lisbon (1%). Lisbon remains the most expensive city to buy a house, as reported by idealista.pt/news

Price changes varied by region, with some areas experiencing significant price increases, such as the islands of S?o Jorge and Pico, while others, like évora and Portalegre, saw declines in housing prices.

The Lisbon Metropolitan Area is the most expensive region to purchase a house, while the Alentejo and the Azores are among the more affordable regions in Portugal for real estate. Overall, regional variations in housing prices continue to be observed.

The construction of the "Real Cal?ada" condominium begins

A new residential condominium called "Real Cal?ada" is under construction near Tapada das Necessidades park, with a completion date set for the fourth quarter of 2025. Over 60% of the units have already been sold, as reported by reportugal.vidaimobiliaria.com

"Real Cal?ada," designed by Quantico, aims to revitalize an old palace on Cal?ada das Necessidades. It will offer 13 apartments ranging from 2 to 4 bedrooms, providing diverse options for those looking to make this area of the capital their future home.

The project is being marketed through the Savills and JLL real estate agencies and is seen as a unique opportunity to live in an exclusive refuge in the heart of Lisbon, given its privileged location near Tapada das Necessidades, combining refinement, history, and modernity in a central city setting.

The historic 'Edifício A Nacional' is transformed into the new 'Aliados 9'

The historic "Edifício A Nacional" on Avenida dos Aliados in Porto, dating back to 1925 and designed by architect Marques da Silva, has undergone a complete renovation, resulting in the new "Aliados 9" residential project, as reported by imobiliario.publico.pt

"Aliados 9" now offers 18 exclusive apartments ranging from studio (T0) to two-bedroom plus one (T2+1), with areas between 43 and 204 square meters. The apartments feature balconies and terraces and are spread across seven floors. The interior spaces are characterized by high ceilings, large windows, and bow-windows that frame historic buildings along Avenida dos Aliados, such as the Banco de Portugal and Porto City Hall.

The location of "Aliados 9" provides easy access to iconic landmarks in Porto, including the Torre dos Clérigos, Mercado do Bolh?o, and the Porto Cathedral, as well as cultural and leisure destinations like Livraria Lello and the Teatro Rivoli, making it an attractive residential option in the city center.

The Creek: Double F Properties' €35 million investment in Vilamoura

The Creek, a new residential condominium project in Vilamoura, Portugal, represents a €35 million investment by the developer Double F Properties.

Designed by architect Vasco Vieira, it features contemporary architecture with generous windows and balconies, situated near the Laguna Golf course, Marina de Vilamoura, and Praia da Falésia, as reported by imobiliario.publico.pt

Comprising three separate blocks with a total of 45 apartments (T2, T3, and T4), The Creek offers private gardens and infinity pools ranging from 8 to 12 meters. The development also includes amenities like paddle tennis, "pitch and put" golf with bunkers, outdoor exercise and leisure areas, a gym, sauna, and concierge service, all with an energy class A certification.

The project has been highly successful, with 36 out of 45 apartments already sold, attracting both Portuguese and international buyers looking for high-quality permanent residences or investment opportunities. The construction is expected to be completed by the end of August the following year. The developer aims to set new standards for luxury living in Vilamoura and the Algarve region.