Phase II brought forward due to exceptional demand
Kronos Homes has announced the early launch of the second phase of apartments at the Algarve’s stunning Palmares Ocean Living & Golf, following the sale of 100% of its phase I apartments well head of schedule.
Palmares has made a name for itself thanks to its outstanding 27-hole golf course and superior setting. International buyers have flocked to snap up the resort’s stunning homes. Buyers of the first phase (with completion due early Summer of 2022), included a well-balanced mix of nationalities with Portuguese and American buyers, followed by British, Swiss, German and others.
The new phase, with a further 44 units, will offer investors another exciting chance to own a home in one of Portugal’s most stunning corners, with spectacular sunset views.
Designed by award-winning RCR Arquitectes, the new homes ponder the majesty of the Bay of Lagos, and the beach of Meia Praia before it, while boasting the exceptional quality and design language that led to unparalleled demand of the first phase.
Set within the natural amphitheatre of Palmares, the new homes are available in one- to three-bedroom configurations. Each apartment includes two parking spaces and a private storage area. All signature apartments are sold fully equipped and furnished. They come with annual golf membership for two, to ensure owners get the very best from the stunning Palmares resort.
“One of Kronos Homes’ goals was to create a destination that appealed to domestic buyers, as well as those from overseas, so it has been gratifying to see so many Portuguese clients put their trust in our project and recognise the quality of the real estate on offer at Palmares. The exceptional location by the sea, with its unparalleled natural beauty and where low construction density prevails across the apartments and the other amenities at the resort, creates a unique and very attractive place for buyers,” says Alda Filipe, Sales and Marketing Director of Kronos Homes.
The news of the phase II launch follows Kronos Homes celebrating two years of owning and operating Palmares Ocean Living & Golf, as part of a 200 million investment masterplan. The company has already poured investment into the resort and its real estate, launching a host of homes and facilities, including a spectacular Clubhouse designed by RCR Arquitectes and Al Sud — the recently awarded Michelin Star restaurant.
The substantial investment into the resort and its facilities has provided scope for strong capital appreciation. Many of those investing in the second phase are clearly conscious of this, also purchasing plots with a clear eye on potential capital growth. 50% of the plots have already been sold and demand continues to increase.