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Buy this €5m Algarve villa and get Portuguese residency

2017-01-21 09:16:14

The €5m five-bedroom villa. Courtesy Kensington Exclusive Properties
 

This five bedroom, 900 square metre, Portuguese villa is set within 1,000 acres of countryside on the sun-drenched Eastern Algarve.

It also sits on the edge of the Monte Rei Golf and Country Club, which has the lowest building density in a like-for-like development anywhere in Europe. Of course this sort of exclusivity costs and it also boasts the highest green fees in Portugal. However, the green fees may not be a deterrent to the buyers of this villa as it is listed for €5 million (Dh19.56m), a price described as "competitive" by Kensington Exclusive Properties, the agents marketing the property.

For those of a golfing pedigree, the villa overlooks holes six and seven and the clubhouse at Monte Rei offers a Michelin-starred restaurant.

What sets this investment apart for Middle East buyers is that unlike most European destinations, this pad could also eventually secure the buyer a passport.

"Portugal has its golden residence permit programme. It gives foreign investors who spend €500,000 on a property here the right to live in ­Portugal," says Malachy Kelly from Kensington Exclusive Properties.

"They are also free to travel around all the EU countries in the Schengen area and after six years they can apply for Portuguese citizenship. We have had many nationalities buying property that will eventually enable them to change passports – that facilitates access to countries that may have been problematic before."

While the passport is a bonus, what does the villa actually offer?

It was built in 2013 and is called The View, for obvious reasons; the villa has floor-to-ceiling windows wherever a chance is offered. The traditional Portuguese exterior moves into a modern and simple interior with open plan, spacious rooms. There is also a sauna, gym, entertainment room, bar and storage cellar and numerous reception rooms. Its top-floor lounge has a 360-degree view of the surrounding area including the coast, and outside there is an outdoor dining area and a swimming pool.

And a 15-minute drive to the fishing town of Tavira takes you to an exclusive beach club being built for Monte Rei residents.

Q&A: Malachy Kelly, the head of international sales for Kensington Exclusive Properties, reveals more about the villa:

Is €5 million competitive for Portugal?

While the listing is a significant investment – the villa, the location, the surrounding area and the exclusivity offered means that it is competitively priced against any asset in Europe. The villa sits on the best, most expensive golf course in a country filled with beautiful golf courses. The undulating topography and hills of the 1,000 acres the development is set in ensures that the views are almost uninterrupted.

What about the design?

The villas have been individually developed by their owners to a very high level, and this villa was developed as a trophy asset by the previous owner. His attention to detail and specific detailing during the construction means the villa has been appointed in an exquisite fashion giving the perfect views of the hills and the coast. It also offers a stargazing spectacle with minimal ambient light and a massive sky to enjoy.

How far is the beach?

You can be on a beautiful beach in 15 minutes. There are few locations that can offer exquisite hillside living and beachside access.

Why else would Middle East buyers be interested in this Portuguese development?

The villa offers the ultimate in European luxury and is only 45 minutes from Faro International airport, which means it sits perfectly between East and West.

 

( courtesy of TheNational )