The Royal Mirage, Algarve
- Properties From $583,000
- Tenure: Freehold
- Estimated Rental Return: 4%
- Completion: Q2 2023
- Albufeira is located in the heart of the Algarve, with direct access to the beach and offering the last chance for investment in a beachfront development in the region. The Algarve is the most visited area of Portugal due to it’s fabulous climate and natural beauty. It was awarded Europe’s Leading Beach Destination in 2022 at the World Travel Awards.
- According to a PwC report in 2023, Portugal is a very safe investment option due to its economic stability.
- Portugal is one of the most attractive destinations for foreign investment in recent years, with US buyers investing billions of dollars. Portuguese real estate has one of the best price-to-rent ratios in Europe.
The Property
The 52-unit ocean-front resort is located in a prime area of the Algarve, one of Europe’s most exclusive holiday and properties destinations. With direct access to the sea, this development also boasts amazing amenities including swimming pools, restaurants, bars, a spa, and a wellness center. All apartments are fitted with top-of-the-line appliances, custom-made furniture and finishings, one-of-a-kind views, private terraces, direct ocean access, and world-class amenities.
– Beachfront property
– Swimming pools
– Gated Resort
Why Portugal?
- Visitors 65 million
- House Price Growth 13.1% (2022)
- Inward Migration 750,000 (2022)
Due to a tourism boom demand continues to outstrip supply leading to price increases in both the rental and sales sector. Forbes magazine recently voted Portugal the number 1 place to retire due to its low cost of living, fabulous way of life and attractive tax benefits for foreign residents. 750,000 people made Portugal their new home last year. With a population of 10.5 million, Portugal receives 65 million visitors per year. Property in the Algarve is generally considered a sound investment due to low property tax, good capital appreciation and strong tourism. The Algarve is popular not only due to its tourist numbers but also for investment and relocation. Rental yield on average is among one of the highest in Europe.
Est. Returns
- Est. Occupancy: 88%
- Est. Rental Return: $57,580*
- *Based on AirBnB data
Location
The resort is located in a prime investment area, close to the exclusive Golden Triangle and just a short drive from Faro international airport. Portugal’s capital, Lisbon, is just a couple hours away, making it the ideal gateway to the rest of the Schengen Area. Towards the east, the market town Olhão is located on the Ria Formosa, with its stunning intercoastal waterways and barrier islands. The central Algarve features exceptional facilities for all: championship golf courses throughout the region, a world-class marina in Vilamoura, and shopping and dining for all tastes. The resort is close to the Ria Formosa Natural Park, a protected area of immense ecological importance. The park encompasses a vast network of lagoons, marshes, and sand dunes, providing a haven for numerous bird species and other wildlife. The nearby waterfront promenade in Olhão is lined with numerous restaurants and cafes where visitors can savor culinary delights while enjoying picturesque views of the Ria Formosa.
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