This development, located in the capital of the Algarve, is made up of 37 luxury villas, each with private swimming pools.
At this stage, Quinta de Faro, a co-development signed by MJ développement and Serip Groupe, has already sold 16 of the properties off plan even before the beginning of the works, which highlights the success of the project. Among the buyers, “we have Portuguese, Belgians, Swiss and French people”, said Mr Pires.
When I asked him why he didn't choose to invest in the golden triangle where the main real estate investments in the Algarve are concentrated, he said that Faro has it all. “Faro is the capital of southern Portugal. There, we find land by the sea next to a hospital, a shopping centre and close to an airport, but without its negative side. The villas on Quinta de Faro will be built on an area beside the sea, with outstanding views and the residents will not hear a single noise from the airplanes. Plus, it’s just two hours from Lisbon,” he said.
He has high hopes for the future of Faro. Mr Pires said that the outlook has improved immeasurably in the last few years. “When I arrived in Faro 10 years ago, there was nothing out there, but Faro council has done a great job and there are more projects under construction as well as excellent restaurants and hotels. It is also a very clean and safe city,” he said.
When compared to other areas of the Algarve, clients can have luxury homes at a high price to quality ratio in relation to his experience in St Tropez. “As I sell houses in Faro, from €990,000 to €3 million, I believe that people from the Algarve, Portugal and all over the World will come to buy villas in Faro because the build quality of the houses I construct and the less expensive price of the land means there is real value here”, he told The Portugal News.
And for those who have already purchased a property at Quinta de Faro, they have already made an excellent investment: “Some of the people who bought houses in Quinta de Faro, I am sure that when the project is ready they will sell them for perhaps 30 percent more,” he said.
For further information, please visit https://quintadefaro.com/