Lisbon, Sintra, Portugal
- PROPERTY TYPE
Block of Apartments
- BATHROOMS
26
- SIZE
17,373 sq ft
1,614 sq m
Description
PROPERTY IN ITS CURRENT STATE:
The property consists of 2 side-by-side buildings and an open plot (backyard). The external load-bearing walls are in excellent condition. Renovation works have begun.
This property was acquired with a previously approved project (PIP) for the construction of 6 spacious residential apartments. A thorough analysis of the business model was conducted. This analysis found an efficient way to improve the project considering the following:
BUSINESS CONCEPT: Reconstruction of the existing property into a 4-star hotel comprising 34 independent units (rooms, apartments, commercial space, café/bar and restaurant, and parking for 9 cars).
Prime Location: Located in the historic center of Sintra, this property represents a strategic investment choice, maximizing its overall appeal.
Sustainable Tourism Growth: The local tourism industry is popular with over 5 million tourists annually and grows each year. This provides investors with the assurance of lasting appeal and sustained returns.
Exclusivity: There is only a finite amount of real estate in the historic center, and it is protected by regulations that restrict development. This limits the supply of new properties and makes existing properties more valuable. Demand for real estate in the historic center is also high, which further drives up prices. As a result, properties in the historic center are highly sought after and exclusive.
Accommodation Shortage: The ongoing shortage of tourist accommodation presents a lucrative market niche for investors ready to meet this demand.
Municipal Interest: The municipality supports the revitalization of Sintra's historic center (ARU zone) and offers tax benefits to developers (6% VAT instead of 23%).
Untapped Potential of Areas: This property offers significant untapped potential, as its previous project underutilized existing space. By exploring the unused area while maintaining the same construction volume, the investor significantly increases the project's ROI.
Ideal business model: short-term rentals in this prime location generate the highest revenue per square meter, making it a profitable and sustainable investment. Furthermore, dividing the property into smaller units increases financial flexibility and reduces risk.
#ref: 112521
Lisbon, Sintra, Portugal
NEAREST AIRPORTS
Distances are straight line measurements- Lisbon(International)13.5 miles
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Notes
This is a property advertisement provided and maintained by IAD, Porto (reference 112521) and does not constitute property particulars. Whilst we require advertisers to act with best practice and provide accurate information, we can only publish advertisements in good faith and have not verified any claims or statements or inspected any of the properties, locations or opportunities promoted. Rightmove does not own or control and is not responsible for the properties, opportunities, website content, products or services provided or promoted by third parties and makes no warranties or representations as to the accuracy, completeness, legality, performance or suitability of any of the foregoing. We therefore accept no liability arising from any reliance made by any reader or person to whom this information is made available to. You must perform your own research and seek independent professional advice before making any decision to purchase or invest in overseas property.