The ‘Viceroy Residences at Ombria Resort’, part of the luxury real estate development Ombria Resort, located in the heart of the Algarve, are the first branded residences managed by the American group Viceroy Hotels & Resorts in Europe.
The concept of branded residences emerged in the US in the 1920s, began to expand to other countries at the turn of the 21st century and grew 170% worldwide in the last 10 years. In Portugal, investment in branded residences already represents 600 million euros.
Considered by many to be the highest segment of luxury real estate, what differentiates branded residences from conventional residential properties is the fact that they are always residences that are part of or are integrated into a luxury hotel of a renowned brand, giving its owners privileged access to the services and facilities of this hotel. In addition, the architecture and interior design, including the furniture and equipment, are always made in accordance with the standards of the hotel's brand.
The Ombria Resort, by the Finnish property developer Pontos Group, in partnership with the North American hotel chain Viceroy Hotels & Resorts, presents, for the first time in Europe, the project “Viceroy Residences at Ombria Resort”. It is a concept exclusive of branded residences (residences managed by a luxury hotel brand), a strong trend worldwide and which, in Portugal, is beginning to gain dimension.
Inserted in the heart of the 153 hectares of the Ombria Resort, the 'Viceroy Residences at Ombria Resort' project comprises 65 exclusive fully equipped and furnished apartments, of T1 and T2 typologies, integrated in a five-star hotel managed by the North American Viceroy Hotels chain. & Resorts. In addition to the apartments, the 'Viceroy at Ombria Resort' hotel also includes 76 luxury rooms and suites, 6 restaurants, swimming pools, Spa, gym, kids club, library, gourmet shop, Golf Clubhouse, conference center, concierge services , cleaning, room service, maintenance, among others.
The ‘Viceroy at Ombria Resort’ hotel will open in the middle of next year and the Viceroy Residences are almost 50% sold. Due to growing demand, prices have already increased several times since the start of marketing about a year and a half ago. Currently, for a T1 with a total area of 120 m2, the proposed price is from €525,000, while T2 with a total area of 170 m2 are priced from €740,000.
Some apartments have gardens and private pools or jacuzzi and all have large terraces overlooking the 18-hole golf course of the Ombria Resort, which is already built. “Owners can use their apartment up to 70 days a year. Whenever it is not occupied by its owner, the apartment will be available for rent to hotel guests. The rental and maintenance of the apartments will be in charge of Viceroy Hotels & Resorts.”, explains João Richard Costa, commercial and marketing director of Ombria Resort. The official added that the owners will receive a guaranteed minimum net return of 5% per year for the first five years.
João Richard Costa also highlights that “At the 'Viceroy Residences at Ombria Resort', the owners have privileged access to all the hotel's services and facilities and benefit from various advantages and discounts on golf and at the 'Viceroy at Ombria Resort' hotel, as well as in all other Viceroy brand hotels (currently 14 luxury hotels located in several countries, namely the USA, Caribbean, Central America and Europe).
The management of Viceroy Hotels & Resorts, as a luxury hotel brand, ensures that the owner will receive a high return on his investment through tourism operating income”.
You can follow the evolution of the construction here: