The Prata Riverside Village development, in Marvila, Lisbon, has generated strong demand, with 80% of the 350 apartments on the market having already been sold, said Re/Max Collection, one of the real estate agencies in charge of marketing, on Thursday.
The project by Italian architect Renzo Piano, winner of the Pritzker Prize in 1998, includes several buildings, for an investment estimated at 400 million euros. The cheapest apartments – T0 with 42.4 square meters (m²) of gross area – cost 285,000 euros. A 246.5 m² T4 costs 1.9 million euros.
Of the 175 apartments already completed – in The One, Riverside and West buildings – only five are still for sale. The 107 apartments in the Square building are in the process of being sold – which should be completed in the second half of this year – and more than half (55%) of the fractions have already been sold. In Urban – with an estimated delivery in early 2023 – more than 75% of the 65 apartments have been sold.
Thus, of the approximately 350 apartments placed on the market, 80% have already been sold, the majority (more than 60%) of buyers being Portuguese. In terms of international clientele, the promoter mentions that there are buyers of 30 nationalities, including British, Spanish and Brazilian.
The Prata Riverside Village is equipped with shops, restaurants, galleries, bike paths and playgrounds and will have a building “totally dedicated to commercial activity, concentrating a wide range of food options, as well as a space dedicated to a fitness component, including swimming pool and/or SPA, for the condominium and the community of visitors”.
“Prata Riverside Village is a truly exclusive opportunity that RE/MAX Collection had to have in its portfolio. It is a project of great importance in the panorama of new construction in Lisbon, not only because of the privileged area where it is located, along the Tagus, but also for its unique architecture, having been designed to meet the needs of a segment that seeks quality of life, in an urban environment, served by commerce, services, cultural facilities, green spaces and leisure spaces,” said Beatriz Rubio, CEO of Re/Max Collection, quoted in the press release.