Portugal: North of Lisbon is worlds apart from the touristy Algarve, a green coastline much favoured by the Portuguese, who tend to build one-off mansions among the pine forests.
Gunne New Homes Overseas and Hamptons International are handling Bom Sucesso, a new leaseback resort development near the medieval town of Óbidos and 80kms from Lisbon.
Top Portuguese architects Alvaro Siza Vieira and Eduardo Souto Moura and UK architect David Chipperfield have produced an ultra-modern complex on this 400-acre parkland site, mostly single storey and with good quality interior finishes.
Prices range from €175,000 for a one-bedroom townhouse, €249,000 for two-bedroom townhouses and €275,000 for three-bedroom townhouses. A selection of three, four and five-bedroom villas from €370,000 are also on offer.
The location of Bom Sucesso between the Atlantic coast and Óbidos Lagoon is characterised by fir and eucalyptus forests. Óbidos is off the recently completed A8 motorway which links the northern coastline with the capital.
A choice of ownership options is available to buyers, from sole use to 10 weeks owner-use and 42 weeks hotel-managed rental to six weeks owner-use with 46 weeks rental. The latter offers a guaranteed 5 per cent net return on capital investment for three years.
Six hundred homes are planned for the new resort, which will include a hotel with spa, a management service and 24-hour security.
Completions are expected from June 2007.
