The first owners take possession at Vila da Praia
24/8/2007
Vila da Praia is a traditionally designed, cobbled, traffic-free beachside village with far reaching sea views over the Atlantic.
It lies inside the Praia D’El Rey Golf & Beach Resort on Portugal’s Silver Coast, just 50 minutes north of Lisbon.
New planning restrictions in the region now forbid construction within 500 metres of the beach’s high water mark,
meaning that Vila da Praia’s position only 150 metres from the sea makes it unique along this coastline.
Launching in a number of phases, when completed Vila da Praia will become Praia D’El Rey’s new social hub,
offering restaurants, bars, cafes and shops, all just a stone’s throw from the beach. Buyers can choose from 2 and 3
bedroom apartments and townhouses, all with large terraces, private communal pools, underground parking and high
quality finishes. Prices start from E343,000.
The first phase of apartments is now ready to move into and the first owners, David and Alison Heaton, together with
their children Will (12) and Katy (9) took possession of their furnished three bedroom apartment in August 2007,
having bought off plan around 18 months ago.
“It’s a fantastic feeling,” confirms David, 44, an Executive
Director in the London office of Swiss banking company UBS Wealth Management. “We’ve owned overseas before, but this is the first time we’ve bought off-plan. It wasn’t long ago of course – less than 18 months – but it seems like ages since we came on an inspection visit, saw the original drawings, and decided we wanted to buy here. It’s incredibly exciting for all of us. And I can’t get over the size of our terrace. We thought we could visualise it, and knew it was going to be a great feature, but the reality is even better.”
“We’ve always loved Portugal,” David goes on, explaining that he and Alison, 46, – who live in Beckenham in south London – used to go regularly to the Algarve for over ten years, and have owned a two-bedroom apartment just outside Albufeira for the last four.
“But this region has a different appeal,” says David. “It’s quieter and much less touristy, and yet we feel there is actually more to do here, especially for the kids as they get older. There’s history, and a genuine feeling that you are in the ‘real’ Portugal, which is what we have both been looking for, but there’s also tons of great adventure activities like sailing, surfing, paragliding and quad biking, plus the 18 hole golf course right here in the resort.
“The area was definitely one of the big selling points,” David continues. “The apartment will be great for family holidays and short breaks, such as half-term and Easter, when it’s often difficult or expensive to find good quality accommodation in the sunshine within a couple of hours of the UK, and the plan at the moment is to rent it out at other times during the year. That will give us some
income to offset against the initial outlay but, ultimately, we see this as a long-term investment.
”In response to growing demand, a limited number of new, fully furnished freehold properties in Vila da Praia are now for sale with a guaranteed rental return. These properties will be managed by Interentals Lda, Praia D’El Rey’s dedicated maintenance and rentals company, and owners will have the right to use them for 6 weeks per year.
