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2 Bedroom Apartment In Lisbon City, Portugal (ref. 25079878)
Ad Title: 2 Bedroom Apartment In Lisbon City, Portugal (ref. 25079878) |
Date & Time Listed: 2016-09-19 09:43:44 (GMT)
Type of Ad: Want to Sell
Baixa-Chiado 2 bed in SOLD OUT luxury development , one off rare chance to secure a unit
Rare sold out project we have a one unit come back 2-bedroom 2-bathroom apartment located on the 2nd level of a completely renovated 18th century character building on the corner of Rua da Madalena and Rua Sao Juliao in Baixa-Chiado, which is currently being renovated (about one month away from completion and handover). The sunny corner apartment is 104,34 m2 in size and on sale for 420.000 €. serviced by an elevator, a rare-luxury in this part of town The apartment retains much of the original charm and character of the building, including the high ceilings and Pombalino 'cage' structure. The very large windows and the fact that it is a corner apartment, make this apartment very sunny and desirable.
The renovation (building and apartment) is being carried out (owned) by the real-estate branch of Portugal's largest hotel group - PESTANA hotels - so the finishings will be excellent, as you would expect in their ***** hotels throughout Portugal and abroad. All of the units were sold in the off-plan stage and this is the only resale in the building which we have exclusively. You can still snatch up this unit before the handover date (in about a month) at the above price.
As for the location of the apartment one could not ask for a better location. As you will recall from our conversation, Baixa-Chiado is Lisbon's new property hotspot and one of the busiest and up-and-coming areas in terms of tourism and urban rehabilitation. Foreign and local investment funds (together with private investors) have been snatching up all of the available un-renovated buildings, for the last year or so. The overwhelming demand for new (renovated) properties in the Baixa-Chiado area, from lifestyle buyers and investors (but not limited to) is playing a big role in what I commonly refer to us the 'gold-rush'. These future units will come on the market at much higher prices, so there is still money to be made on the way in (locked-in equity), throughout (rentals) and on the way out (appreciation) by investing NOW in Lisbon's property hot-spot - Baixa Chiado.
Most investment funds (backed by local and international banks) are not even looking to resell the renovated units, but rather rent them out and enjoy the yields instead. This will ensure that they (funds) keep the shareholders happy in terms of yields, but will also ensure a healthy capital appreciation over the next 5-10 years (probably reach the same level as Chiado today). The average occupancy rates, today, in Baixa-Chiado are a staggering 85.00% - 90.00% and rental yields in excess of 6.00% which are attractive even to investment funds. As an example: a nice 2-bedroom apartment in Baixa Chiado will generate a net income (to the owner) of between 1.800 € - 2.000 € per month (on average). As I pointed out to you many of the buildings you saw with scaffolding or banners down the facades are to become boutique hotels. Something which has become very popular and sought-after by local and international guests in Lisbon.
Accessibility is excellent from this location, with all forms of public transport available, i.e. trains, ferries, subway (4 stations within a 5-minute walk) trams, buses, taxis, 'tuc-tuc's': all at one's doorstep. Of course most tourists prefer this part of town because you can walk everywhere very comfortably, but the transport options are there if walking is not for you From a touristic point-of-view you are in the heart of historical Lisbon by all the tourist attractions including the St. George's Castle and near epicenter of where 'it is all going on' in terms of nightlife (Bairro Alto), which is second to Barcelona only (2nd most popular nightlife destination in Europe).
* Luxury Development
This property is a Apartment for sale.
Number of Bedrooms: 2
Number of Bathrooms: 2
Price: 420,000.00 EUR
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