Global Edition

Palmares proves a hit with UK investors seeking a slice of the good life

10.03am 10th June 2021 - Property

Real estate developer Kronos Homes has reported a significant increase in demand for plots at its Palmares Ocean Living & Golf resort in Portugal’s Central Algarve region, as families seek out space and privacy in an uncertain world.

The growing interest in Palmares Ocean Living is part of a wider trend of rising demand from overseas buyers seeking land in Portugal. Rightmove Overseas has reported a 1,522% increase in demand from buyers for land in Portugal in January to March 2021, when compared with the same period in 2020. Demand for land is far outstripping that for apartments or villas.

Between Q1 2020 and Q1 2021, searches for property by British buyers in the Algarve rose by 45%. Its extensive beaches, flavourful cuisine, low cost of living and outstanding golf, marine and other sporting facilities all feed into this popularity.

Palmares Ocean Living offers all of this and more. Exceptional golfing and leisure facilities are set in a natural amphitheatre that delivers spectacular sea views over the Alvor estuary. Owners enjoy annual golf membership for two at the 27-hole golf course, which was designed by respected American architect Robert Trent Jones Jr.

Recent investment has seen the addition of a brand-new clubhouse, designed by award-winning RCR Arquitectes. It includes a new fine dining restaurant where Michelin-starred Executive Chef Louis Anjos is celebrating the flavours of the Algarve in innovative new ways.

The master-planned resort also includes an array of other sports and leisure facilities, with plans in place for further additions, including a second five-star hotel – in addition to the 20-room boutique hotel already on site – and a pool with wellness facilities, as well as a total of 460 homes.

Land plots at Palmares Ocean Living are generously sized and come with a preliminary architectural study. They are priced from €780,000, with an average indicative construction cost of €1.3 million. As the whole resort has a construction density of just 5.7%, sea and nature views are maximised from each plot.

Alda Filipe, Sales & Marketing Director, Kronos Homes, said: “Many international buyers – and British buyers in particular – are looking to Portugal right now to deliver both second homes and primary residences. Brexit has fuelled demand for golden visas, with all the Schengen-unlocking benefits that they deliver, while the pandemic is driving the desire for space and a more outdoor lifestyle in the sun. As a result, families are seeking to build their dream properties here in Portugal.

“As we have with every element of Palmares Ocean Living, we have striven to ensure that our land plots deliver something special. From the extensive plot sizes to the building capacity that they offer, these parcels of land are ideal for discerning buyers who want to make the most of all that the Algarve has to offer, while creating homes that are tailored around their individual requirements. With the current investments and the ongoing development of the resort, the capital appreciation is the icing on the cake.”

For more information about Palmares Ocean Living & Golf, email realestate@palmaresresort.com, call (+351) 917 766 932 or visit https://palmaresliving.com.

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