Plot of land with approved project and licenses under payment for the construction of 2,500 sqm of housing, distributed by 25 units with garage and elevator, in a location with big potential for future appreciation, on Avenida Afonso III, Penha de França, in Lisbon.The 25 units comprise studio to 3-bedroom duplex apartments, with a view of the River Tagus near Santa Apolónia station.Product integrated in the Penha de França parish in an urban area undergoing a significant development in terms of new construction and rehabilitation, where the value of a new product compared to the proximity to the city centre is the most attractive in Lisbon. The April 2021 Detail Plan foresees the increase and rehabilitation of the residential function with the integration of new buildings into the urban landscape, which makes this product a unique investment opportunity.
Not only is Lisbon Portugal’s largest and most wealthy city, but it also has the unique distinction of being Europe’s furthest western capital city. With a population of over 2.8 million in Lisbon and the surrounding area, it certainly qualifies as a large city on any scale.
Unlike some of the other cities in Portugal, it is not tourism that drives Lisbon’s economy. Lisbon is a global forerunner in the technology sector as well as a strong leader in mass multimedia, and is also Portugal’s financial district. With all of these healthy industries it is no wonder that Lisbon produces more than 45% of the Gross Domestic Product for all of Portugal. In addition, the per capita GDP is higher in Lisbon than compared to the average per capita GDP for the rest of Europe. These economic factors make Lisbon a very attractive place to live and purchase property.
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