Quinta do Lago is celebrating its two most recent real estate success stories which include the sale of every property in its Reserva luxury development as well as the sale of the internationally prized Lorenzo Villa.
Reserva, the resort’s most recent development, features 26 apartments, all of which were sold in 2019 before they were completed.
According to Quinta do Lago, these properties sparked “record interest” among investors.
It adds that the success of the sales “was surprising, with all apartments sold for an average of €2.7 million and an extended waiting list for resales”.
While it is usually viewed as a destination for pensioners, the resort also highlighted that the average age of the buyers ranged between 40 and 50, and that the youngster buyer was younger than 30. Most buyers were British, Irish and Portuguese although there were also Dutch and Russian buyers.
Said Quinta do Lago CEO Sean Moriarty, “we are absolutely delighted by the success of Reserva since we launched the project in 2017.
“It is fantastic to see the ages of buyers change and we are already predicting an extremely high rate of rentals. We are very excited to welcome our new property owners in their luxury houses,” he added.
Also highlighted is the sale of Lorenzo Villa which was sold just four months after it was completed. Says the resort, it was on the market for €7.2 million.
It is situated in the San Lorenzo North golf course, one of the few areas in the resort which still has room for further construction. At the International Property & Travel Awards 2019, the villa was distinguished as the ‘Best Residential Property in Portugal’.
“We are not surprised by how quickly it left the market and we are hoping to welcome more buyers to our resort so that they can build the house of their dreams, adapted to their lifestyle, in a surrounding area of rare beauty,” Moriarty said.
Source: The Portugal Resident