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hospitality Market News: Portuguese Real Estate Intelligence

World Travel Awards Honour Algarve, Lisboa and Madeira
2 December 2020According to an announcement by Portugal’s Ministry of Economic Affairs, Madeira, Lisbon and Algarve won awards at the World Travel Awards as the best island destination, best 'city break' and best beach destination, respectively. The region of Madeira held on to its position, which it had already won the year before. Rita Marques, the Secretary of State for Tourism, noted that "By overcoming all constraints, we preserve the reputation and visibility of our destinations". Portugal has thus demonstrated that it is "a safe country, ready for all to visit when possible." Awarded annually since 1993, the World Travel Awards also recognised Portugal’s efforts in other tourism categories. Original Story: Notícias ao Minuto – Lusa Translation/Summary: Richard Turner
 
Comporta Attracts International Investors
27 November 2020 The German luxury real estate brokerage network, Engel & Volkers, has reported  the existence of very significant demand for property in Comporta in 2020. Located some 120 kilometres south of Lisbon, Comporta has seen the launch of a wealth of new projects, new private villas and flats along the Alentejo coast, as well as four- and five-star hotels and resorts. Spanish, French and Belgian clients are most commonly seen, as international clients seeking real estate or tourist hospitality opportunities in this area account for 80% of the market. Engel & Volkers forecasts a considerable increase in investment next year, even with the pandemic, and demand is significant in this real estate sector. This year, houses and villas have been sold for up to three million euros and the square meter has reached six thousand euros for flats. Original Story: Diário Imobiliário - Vanessa Sousa Translation/Summary: Richard Turner
 
Europe's First Anti-Aging and Luxury Wellness Condominium to Open in the Algarve
27 November 2020The project aims to make the Algarve a pioneering international destination for flats, single-family houses, hotels, leisure and health. Located 15 minutes from Albufeira, the South Valley - Luxury Health Village, will be Europe's first large-scale anti-aging and luxury wellness condominium. The initial project consists of several green areas, leisure areas, residences (flats and villas), a private international university campus hospital, rejuvenation and detox clinics and several areas reserved for hotels and restaurants, on a 126-hectare site. South Valley - Luxury Health Village is a foreign investment development that is actively managed by the Portuguese firm TOTE SER, with the possibility of participation by one or more co-investors. Original Story: Diário Imobiliário Translation/Summary: Richard Turner