6 major new real estate projects in Lisbon, Portugal

Despite the pandemic, demand for real estate remains high and investment is even on the rise in Portugal. Nor has covid-19 slowed the launch of new real estate projects in Lisbon, since in the first nine months of 2020, 33,614 homes entered the authorization process in Portugal, compared with 34,377 homes in the same period of 2019.

In Lisbon, therefore, work hasn’t stopped, and new developments in several of the Portuguese capital’s emblematic neighborhoods are coming on stream. In this article, we’ll take a look at some of these real estate projects in Lisbon.

It’s also important to note that demand has changed. Whereas small apartments were the main search until now. Now it’s the demand for houses or large apartments with spacious interiors and exteriors that is growing. A phenomenon closely linked to covid-19. Many people are spending more time at home as they work in addition to living in their own homes. On the other hand, families tend to save on leisure activities, travel, clothes… because of the health situation and keep their savings for real estate.

INFANTE VILLAS (Infante Santo): a luxury condominium in a former hospital

One of these new real estate projects in Lisbon is located in Infante Santo, in the former CUF d’Estrela hospital, where the Infante Villas project is being developed, a residential project of 87 apartments integrated into a closed condominium.

For 26.2 million euros, the developer has acquired six buildings (including the 16th-century Palácio Sasseti) covering an area of over 12,000 m2, which were part of the former CUF Estrela Hospital, transferred last November to the new CUF Tejo Hospital. Work on the project is scheduled to start in April 2021.

The apartments will be at the center of a closed “condominium” including a large garden of over 3,000 m2, a nugget for many residents in times of pandemic, especially as closed condominiums are quite rare in the capital.

Marketing has not yet begun, and prices have not yet been released.

Infante Villas

LAPA ONE (Lapa): a luxury home

Vanguard Properties, notably behind the Castilho 203 project known for the penthouse purchased by Cristiano Ronaldo for over 7 million euros, is renovating a unique property of over 2,600 m2 in Lisbon’s Lapa district.

Lapa One comprises a renovated palace with five suites, a cinema room, spa, library, indoor and outdoor swimming pools, among other luxuries, and two guest apartments connected to the main house.

Construction will start in October and the estimated price is 30 million euros.

Lapa One

TERRAÇOS DO MONTE (Graça): spacious apartments with splendid views

One of Vanguard Properties‘ other major real estate projects in Lisbon is the Terraços do Monte project on a plot of land in Lisbon’s Graça district.

It consists of 15 apartments instead of the 28 originally planned, all with open views over the city. The number of apartments has changed in response to the shortage of generously-sized homes in Lisbon. Prices for some apartments are expected to reach 7 million euros.

Terraços do monte

ROSSIO: commercial space in former hotel burnt down

The block of buildings in Rossio that once housed the emblematic Suíça patisserie and Casa da Sorte is the site of one of Baixa Chiado’s most important projects.

Developer JCKL Portugal and architects Contacto Atlântico are to transform the five buildings on the Rossio square block into a major commercial space. Work is scheduled for completion in 2023.

With five floors each, the five buildings total over 12,000 m2 of floor space, much of which has been vacant for 45 years, as only the first floors were active with a few stores, including the Suíça patisserie, which was present for 96 years. The last use of the upper floors was as a hotel, which was deteriorating into a boarding house. They had long since closed. There was even a fire, the damage to which was never properly repaired.

The architectural project for Contacto Atlântico calls for 7,000 m2 of retail space, around 1,500 m2 of office space and the remainder for shops and services.

Armazem Rossio

BELEM: a hotel and museum in a former high school

On the road to Belém, more precisely in the rua da Junqueira, work continues on another of Lisbon’s imposing real estate projects.

The Palácio Condes da Ribeira Grande, built at the beginning of the 18th century and badly deteriorated after having housed the Rainha D. Amélia high school in the 1980s/90s, will become a five-star hotel with 65 rooms and will also house the Armando Martins Museum of Contemporary Art (MACAM).

The project comprises 50% renovation and 50% new construction. The hotel will be located in the palace area, and it was possible to recover the façade, the monumental staircase and the chapel. All the other spaces were obsolete and will house the new part, with a museum in place of the gymnasium and the physics and chemistry laboratories of the old high school. Construction is scheduled for completion by the end of 2021.

The Metro Urbe project will cost 10 million euros.

Belem

DUQUE 70 (duque de loulé): anti-pandemic apartments

Duque 70 is a closed condominiumproject with 52 apartments (prices from 440,000 euros) just a stone’s throw from Marques Pombal. Renovated from 4 traditional buildings, the residence includes an interior garden and swimming pool.

It is the first residential project to be qualified for health in Portugal by the Nova Medical School of Lisbon’s NOVA University.

The Avenida Duque de Loulé building, which is nearing completion, will incorporate standards designed to promote the health of residents and visitors alike. Before the pandemic, we didn’t worry much about traffic inside buildings. But now, we have to think about how we’re going to circulate in common spaces, and whether we need to enter through one area and leave through another, for example. Nova’s tools will be applied to the condominium bylaws, defining rules designed to protect people in the event of a pandemic. Today we have Covid-19, tomorrow it could be any other pandemic.

80% of the condominium has already been sold, mainly to Portuguese and Brazilians.

Duque 70

In conclusion

Despite the pandemic, real estate projects in Lisbon continue to be numerous and are shaping old Lisbon.

Source : https://visao.sapo.pt

Join us on social networks!

• Facebook group “Amoureux du Portugal”,
• Vivre au Portugal” Facebook page
• Instagram ” Living in Portugal

Receive the latest blog posts and our selection of properties every month.

* required fieldFirst name * *Last name Telephone E-mail address * *Current city of residence Area of interest: *

• Buying a property in Portugal
• Renting a property in Portugal
• Nothing special in mind

Date of arrival in Portugal How can we help you? * * Please contact me:*

• Quickly please
• Later please

Region of interest *

• Almada
• Aroeira
• Seixal
• Setubal
• Other

You can view our Privacy Policy and General Conditions here.