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New Developments Signed by Renowned Architects and Designers, Including Projects by Philippe Starck and Pedro Reis, Consolidate Cascais and Estoril as the High-End Real Estate Epicenter in Portugal
The Portuguese Riviera, formed by the cities of Cascais and Estoril, has become the new bet of the luxury real estate market in Europe, with prices exceeding €25,000 per square meter, projects signed by international designers, and developments sold out even before the official launch. The global search for stability and exclusivity reinforces the continuous appreciation of the region.
History and Tradition
With a past linked to European aristocracy, Cascais and Estoril were a refuge for kings and nobles in the early 20th century, attracted by the thermal waters and mild climate. During World War II, Portugal’s neutrality turned the area into a center of espionage.
It was also at the Estoril Palace that the writer Ian Fleming, while serving British intelligence, conceived the character James Bond, inspired by the region’s atmosphere of intrigue. The location was also the set for the film “007 – On Her Majesty’s Secret Service,” in 1969.
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Heading to Brazil in a Bonanza F33 single-engine aircraft: a couple departs from Florida on a visual flight, makes technical stops in the Caribbean to refuel and organize paperwork, and begins the staged crossing until they reach the country.
Besides royalty, exiles such as Edward, Duke of Windsor, found a discreet and safe shelter on the Portuguese coast. This historical tradition remains associated with the current prestige of the region.
Current Investments
At Quinta da Marinha, located between Cascais and the Atlantic, player Cristiano Ronaldo is building one of the most expensive houses in Portugal, valued at around €20 million. The highlight is the master suite, with 300 square meters, equivalent to a complete residence.
Another landmark is the MyEden development, designed by architect Pedro Reis and located on the former site of the Eden Hotel, in Monte Estoril. The 12-story building will feature vertical gardens, a connection to the Garden of Birds, and a five-star boutique hotel designed by Philippe Starck, who also designed the interiors.
According to Forbes, the 32 apartments, including a penthouse of 500 m² indoors and 500 m² outdoors, were sold even before the official sales began, setting a new record for demand.
Appreciation Records
According to Confidencial Imobiliário, Cascais and Estoril have shown continuous appreciation for ten years, with average prices around €10,000 per square meter. In the case of MyEden, prices reached €25,000, consolidating the region as one of the most expensive in Europe.
Penthouses and duplexes over 250 m² with ocean views can exceed €6 million. The InterContinental Cascais-Estoril, a neighboring development to MyEden, is also among the most expensive properties in the country.
According to Francisco Garcia, partner at Forbes Global Properties in Portugal, the demand for oceanfront properties is high, but urban planning legislation restricts new construction, contributing to the price surge.
Exclusivity and Buyer Profile
The MyEden project took 18 years of planning, according to Luiz Godinho Lopes, director of Linha Marginal, the management company responsible. The development was created in partnership with developer Pedro Mendes Leal.
According to Garcia, Cascais holds the highest wealth in the country. Many buyers are international, using private jets at the nearby airport and making weekly trips to their luxury residences.
Despite the high investment, the Portuguese Riviera stands out for maintaining a discreet environment, without the ostentation typical of destinations like Saint-Tropez or Marbella, which reinforces its appeal to an audience seeking exclusivity and discretion.
Permanent Attractions
Even amid record prices, the region preserves accessible attractions, such as the sunset in Cascais Bay and the waves that attract surfers from all over the world. The local nature was highlighted by Philippe Starck himself, who stated: “When there are waves, there is happiness. It’s the true power of nature.”
With new projects underway, such as Oitavos Fasano in Quinta da Marinha, the Portuguese Riviera consolidates its position as one of the most dynamic and valued luxury real estate markets in Europe.
The information was published by Forbes, in a report authored by Zoë Dare Hall, with data from developers, Confidencial Imobiliário, and industry experts.
With record prices in Cascais and Estoril, will the Portuguese coast remain accessible only to the global elite in the coming years?
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