A luxury development in Lisbon, comprising 15 apartments, sold out in less than 48 hours. The first twelve were sold in a single day. Almost all of Portugal. The scarcity of housing continues to drive the market.
There are many examples of the shortage of real estate in Portugal, especially in the most stressed markets such as Lisbon. The latest occurred this week, when the 141 Gomes project, in Campo Martires da Patria, sold out in 48 hours. It is an 18th-century building – restored for sale by newcomer to the national market Legeira – and includes 15 luxury apartments. Twelve of the units were reserved with a sale contract in one day and the remaining three the next.
Portugal Sotheby's International Realty, a company specialising in the promotion of development projects and the sale of luxury properties, has closed 80% of the sales of the first Legera project.
Almost all the apartments – 90% of the project, according to the developers – were bought by Portuguese citizens. “The great success of this project is due to the work carried out with the promoter, Legera, over two years, which led to the definition of a product that is perfectly in line with the current demand in this area of the Portuguese capital,” he noted, noting that Duarte Marques, development director of Portugal Sotheby’s International Realty, was responsible for selling 80% of the apartments in the Legera project.
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