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Duque d’Ávila 120 to be Built on Lisbon’s Avenidas Novas
10 July 2018
Avenidas Novas, in Lisbon, is also the focus of real estate investors, with Velvet World developing a residence at the Duque d’Ávila 120.
After having functioned as an office building, the new project will transform the property into housing, with 14 luxury flats. Infante & Riu, Portugal Real Estate, is marketing the property and will officially present the project next Thursday. The developer Eric Goraieb, an architect who has worked in several international offices, will participate. Having lived in Portugal for just over two years, the developer has already built Olival 6 and is developing three other projects in the Portuguese capital.
With one, two, and three-bedroom flats, the last of which are duplexes, the apartments range in prices 350,000 euros to 1.65 million euros.
The three duplexes have terraces, private pools and private gardens. Every flat has allocated parking.
According to the agency, the one- and two-bedroom flats may be placed on the rental market, with an estimated annual return of roughly 8% for short-term lets, and 5% for long-term lets, including the 25% management fee.
Original Story: Diário Imobiliário
Translation: Richard Turner