Apartment building 3,400 m² in Lisbon

Apartment house.

Description

Apartment house, in need of repair, with pre-project of reorganization into an apart-hotel. Additional information on request.

Lisbon is the capital and largest port of Portugal, the oldest city in Western Europe with the warmest winters among all European metropolises.

• The Portuguese economy is developing steadily. According to PwC, the country's GDP by the fourth quarter of 2017 increased by 2.4%. Experts predicted that in 2018, GDP growth will be 2.1%, and in 2019 – 1.7%.
• The unemployment rate is noticeably reduced: in January 2017, one could talk about 10.1%, and in January 2018 — already at 7.9%.
• The growth in housing prices in 2017–2018 amounted to 23%. According to the Portuguese State Institute of Statistics (INE), sales of residential real estate grew by 19% in Portugal and by 22% in Lisbon for I-III quarters in 2017–2018.
• The average return on long-term rental apartments in Lisbon is 5%. Short-term rental is more profitable. At the same time, the services of management companies are much cheaper than in other countries (5–10% of the rental price versus 20–25%.