Golden Opportunity To Invest In Prime European Real Estate
NEWORLD’S FIRST LISBON DEVELOPMENT A WINNER
“We’d been looking for suitable development opportunities in Europe for quite a while, so when Newman Leech of GMG Real Estate invited me to Lisbon to look at the LX Living site in December 2018, I didn’t hesitate,” says John Rabie, Co-founder of the Rabie Property Group, founder of Signatura and founder of Neworld.
“What I saw excited me immediately, because of the obvious advantages of the location. The site is in Amoreiras, which is very close to the iconic Avenida da Liberdade, but is not in one of the busy tourist hotspots of the city.
“It’s a suburb of contrasts, with a mini-CBD of its own, consisting of gleaming five-star hotels and blue-chip corporate headquarters, surrounded by charming little side streets with ornate residential buildings, neighbourhood pastelerias, restaurants, museums, art galleries and small parks.
“It’s also extremely well connected to the road networks, as the main highways to Porto in the north, the Algarve in the south, and the route to Cascais and Estoril criss-cross through the suburb. And the exciting confirmation that city authorities are developing a new Metro stop very close to the development is another positive factor. This line willl link directly to Lisbon’s International Airport.
“Amoreiras is also very sought-after because of its educational institutions, with a popular French-language international school just a block away from the site, and one of Lisbon’s universities also in close proximity. Not to mention the really important fact that one of Lisbon’s leading retail hubs, the iconic Amoreiras Shopping Centre, is just two minute walk away.
“With all of these advantages, plus the option of the Golden Visa, we were expecting a good response from the market, but were really delighted with the results of successive launch events in Cape Town, Johannesburg and Lisbon, with off-plan sales rising rapidly to around 110 of the 150 units available.
“There is still a great range of apartments available, many of them above the qualifying price tag of €500 000 for the Golden Visa. With the increasing demand for corporate accommodation in the immediate vicinity of the site, boosted by the effects of Brexit, and the relative success of Portugal in dealing with the coronavirus pandemic, the medium-term dynamics are clear: demand for accommodation dramatically exceeds supply. So I have absolutely no hesitation in recommending an investment here. Especially when you can borrow up to 75% of the capital at 1% interest rates! In all my 40 years as a developer, I’ve never been in a position to offer buyers such a compelling investment proposition.”
A PRECIOUS OPPORTUNITY ON ONE OF LISBON’S HIGHEST HILLS LX Living
LX Living is a brand-new, mixed-use development in a sought-after residential neighbourhood in central Lisbon, just a short stroll from the prestigious Avenida da Liberdade. Substantial, new-build developments in this area are extremely rare indeed. The striking contemporary building, designed by Saraiva + Associados, one of Europe’s leading architectural practices, features dramatic cantilevered balconies and consists of 150 luxury apartments, ground-floor retail, a landscaped internal plaza, two swimming pools, a gym, a day spa and two restaurants. The development, which is currently under construction for delivery in 2021, is a joint venture by John Rabie’s European company, Neworld, and GMG Real Estate, a well-established property developer based in Geneva, Switzerland.
A SOUND INVESTMENT WITH EXCELLENT GROWTH PROSPECTS
LX Living offers outstanding offshore investment fundamentals, with exceptional security, strong rental income potential, and excellent prospects for medium to long-term capital growth.
Here’s why a luxury apartment in LX Living ticks all these boxes:
- It is a high-yielding investment in a directly owned bricks-and-mortar asset
- Located in one of Europe’s top-performing real estate growth zones
- A 4% rental guarantee is available on all one-bed units for the first two years
- This includes a turnkey property management service
- A full furniture pack is included in the purchase price for rental pool units • Loan-to-Value finance of up to 75% is available from Portuguese banks
- Current interest rates on offer vary between 1% to 2,5%
- Interest rates can be fixed for buyers under 45 years old
- Estimated pre-tax leveraged yields to be in excess of 10%
A SUBSTANTIAL LUXURY REAL ESTATE ASSET
On offer are one, two and three-bedroom luxury apartments in LX Living, ranging in price from €440 000 to €1 370 000.
- At least one secure basement parking bay per apartment
- Timber floors and engineered stone countertops
- Integrated fridge, oven, hob, dishwasher & washing machine
- Air conditioning and double-glazing throughout
In addition, residents will have full use of a suite of hotelstyle amenities and services including:
- A gym, day spa and two swimming pools, one indoor and one rooftop
- Ample underground parking – a rarity in central Lisbon
- Two restaurants, a bar and rooftop garden
- Hi-speed fibre connectivity throughout the building
THE MACRO FACTORS: WHY FOREIGN INVESTMENT IS POURING INTO PORTUGAL
Portugal’s reputation for pragmatic, efficient and progressive administration has been enhanced by its effective response to the coronavirus pandemic. As a result, Lisbon has been rated in a recent Knight Frank Real Estate report as one of only four cities globally to expect a positive growth rate in 2020 and 2021!
In addition, Portugal is widely acknowledged to be one of the safest countries in the world, with no significant crime, no geo-political problems, a sound economy, and a first-world healthcare system. So it comes as no surprise that the PriceWaterhouseCooper’s ‘Emerging Trends in Europe’ identifies Lisbon as one of the top 10 real estate markets in Europe for 2020. Nor that Forbes magazine has identified Portugal as one of the top three post Covid-19 retirement destinations in the world.
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