Baxia - Lisbon
Very well located building situated in the City Centre with ground floor commercial units and 5 floors of apartments (4 levels plus loft). The commercial units are currently occupied but the apartments are all empty.

Possibility of constructing 14 apartments and another commercial unit subject to planning, bringing the total
number of units to 18 (16 x 1 bedroom apartments)
(8 x 2 bed apartments) and (4 x commercial units)

We offer an end to end service; from sourcing the properties, to arranging inspection trips, negotiating the sale, liaising with lawyers, finance houses, architects, city hall, construction companies and right through to resale of refurbished apartments.

Detailed Floor Plans and Finacials are availabe on request.

Overview of Property Market in Lisbon

Refurbished Building

Government want urban renewal 4,500 buildings in the city require renovation Old rental contracts fixed for 50 years Landlords could not increase the rents
Buildings became run down HoweveLast year laws changed for old rental contracts
It is now possible to increase rents provided that the landlord renovates the building
Renovation of City Buildings
Most buildings are 100 years old Any tenant living in these buildings are a minimum of 70 years old

Example:
Old rent can be approx €25 for an apartment of 170m2
Value of a new apartment 170m2 = €3,000m2 x 170 = €510,000
The legal municipal value on rental is 4% of price - €20,400 per year or €1,700 per month
From 4,500 buildings: 300 belong to council and 350 are currently awaiting planning approval to reconstruct in council.
What is happening in the market now?

Buildings are coming onto the market for sale.
Landlords are selling to investors and developers from Portugal, Spain, Itlay and France are buying up.
Investors are buying blocks and once planning permission is through putting it back on the market at a profit.
Other investors go through with construction and sell apartments to the local market.
Prices have risen approx 20% within the last year in this sector
Locals are buying up these new built or renovated apartments
Portuguese have one of the highest rates of owner occupiers in Europe
Population of Lisbon is 4 million, only 500,000 live in the City now
There is enough accommodation in Lisbon to house 2 million people
What is happening now in the market?

Due to fixed rents no money was being invested in maintenance of the buildings and the standards dropped so residents moved out of the City
New modern apartments are in high demand in Lisbon City
Trends are changing and Portuguese are moving back into the City from suburbs as renewal is taking place
There is not enough supply to meet the demand
At the moment the price of property in Lisbon is only 1/3 of the average price of property in all European capital cities
The real estate market in Portugal has been increasing steadily for the last 50 year (currently 5-8% per year)
This is the beginning of an excellent investment opportunity

A well located building near Marques de Pombal
with a footprint of 150m2.