One of the largest housing projects in Greater Lisbon is 100% sold out at the height of the pandemic – Executive Digest

The Covid-19 pandemic has had a huge impact on the real estate market, but also on the Portuguese economy and families, however, the first phase of one of the largest housing projects in Greater Lisbon has already been completely sold out.

The Vila Viva project, in Vila Franca de Xira, is a project promoted by the Portuguese-Brazilian Structural Group and Rio Capital, resulting from a total investment of approximately €14 million.

The first phase of the project, due to be completed by the end of the summer, is 100% sold out, and the second phase, which is expected to be completed in March 2022, has already sold half of the units in the pre-launch phase.

“With the end of Phase 1 units, and continued demand, we decided to open Phase 2 sales in the middle of the second booking. The result was that from January to April of this year, we already had 15 CPCVs signed,” explains Carlos Silva, COO of Structural Group Group.

According to a statement from the Estrutural Group, 80% of Vila Viva’s buyers are Portuguese and the average age is about 38 years. 51% of clients are unmarried and young people are engaged, while those who are married account for 42%, 20% live in Lisbon and Sintra, but about half work in downtown Lisbon.

Remote work has also affected buyers’ choices, with most families opting to buy another room for the office. “Buyers were taken care of with a rating that included an office, so the T3 was the most sought after,” said Julio Luz, CEO of Rio Capital.

This project contains 85 apartments, from T1 to T4, all of them have balconies and a privileged view of the Tagus River and the mountains. According to the same note, the second phase, which is under construction, maintains reasonable prices in the current market (2000 euros / m).²).

Vila Viva is located in a private condominium, with concierge, covered parking, elevators, pantry, green spaces, pedestrian walkway, outdoor gym, ballroom and playground, all accompanied by a contemporary architectural project with luminous and futuristic lines.