Under the title "Living Inside a Brand" journalist Paulo M. Santos presents a comprehensive analysis in Visão magazine on the fast-growing trend of branded residences, highlighting the prominent role of Ombria Algarve in this landscape. According to data from the Savills consultancy, the last decade has witnessed an extraordinary 160% increase in the branded residences market, now comprising around 700 developments worldwide. The same study predicts "an additional 600 projects globally by 2030."
Branded residences represent real estate properties intrinsically linked to renowned brands, offering owners not just a residence but a lifestyle associated with the brand's identity. This concept provides added assurance to buyers, as the brand's credibility contributes to assessing and reducing investment-associated risks.
"This trend has been growing in Europe, and Portugal is no exception." According to the Knight Frank Global Branded Residences Report 2023, "we are one of the countries with the highest growth potential in this market." Oliver Banks, a partner at the consultancy, emphasizes that Portugal is "underrepresented in the branded residences space, and with the strong demand we are seeing for luxury products from international buyers, there is a real opportunity for short and medium-term growth. The lifestyle Portugal offers is synonymous with the amenities and way of life that branded residences provide and that foreign investors have become accustomed to."
In the Algarve, Ombria Algarve stands out with Viceroy Residences, a project near Querença, Loulé. Comprising 65 apartments integrated into a five-star hotel managed by the Viceroy at Ombria Algarve, this project allows owners to enjoy their apartments for up to 70 days a year, with a two-week restriction in the summer. When not in use, the residences are utilized for tourism purposes, providing owners with a guaranteed net minimum return of 5% per year for the first five years. João Richard Costa, CCO of Ombria Algarve, highlights the "additional advantage of a strong brand that ensures top-notch hotel services and property management." This pioneering project in Europe for the American group emphasizes the growing attractiveness of Portugal for such investments, outlining a promising future for the branded residences segment in the country.
Visão, March 2, 2024
