Global Edition

Palmares enjoys strong demand for luxury properties

10.37am 2nd December 2021 - Property

Palmares Ocean Living and Golf, a luxury resort located on Portugal’s Western Algarve, is experiencing strong demand for its range of villas and apartments, the latest phase of which has just gone on sale.

Buyers of the first phase, which consisted of 37 apartments, were drawn from all over the world, including Americans (25%), Portugual (22%), the UK (14%) and individuals from Switzerland, Germany, the Czech Republic and further afield.

The fully sold out first phase apartments look out over the Alvor Estuary and were designed by award-winning RCR Arquitectes and are currently under construction, with completion due in the spring of 2022.

The new phase will provide exceptional sunset views across the Bay of Lagos and Meia Praia beach, thanks to their elevated position. The 44 apartments are currently in the pre-launch phase, for which there is already a growing waiting list.

The new homes are available in one- to three-bedroom configurations. Each apartment includes two parking spaces and a private storage area. All apartments are sold fully equipped and furnished. They come with annual golf membership for two people.

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, Al Sud – the new fine dining restaurant from Michelin-starred Executive Chef Louis Anjos – and the new Experience Cocktail Bar.

The additions to the resort are part of a masterplan that will deliver a total of 460 homes (103 villas and 357 apartments), a second 5* hotel (in addition to the existing 20-room, 5*star Beach House Hotel) and a pool and wellness facilities. Eight Signature Villas – a turnkey project by RCR Arquitectes – are currently for sale in addition to the apartments, with the first villa having already been completed.

Alda Filipe, Sales and Marketing Director, Kronos Homes, said: We are delighted with the strength of demand for homes at Palmares Ocean Living & Golf. The apartments have proven so popular that we will be launching the second phase earlier than expected this autumn, to ensure that buyers looking to own homes at this world-class resort have the ability to do so.” 

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