A magnet for retirees, the Algarve offers wonderful weather, a wide range of sports and outside activities, access to world-class healthcare, and a safe environment. It is quite common for a circle of friends to be made up of Portuguese locals, and foreign residents from all over the world, who already call the Algarve their home.

Demand for purpose-built, quality condominiums, designed for permanent living rather than tourism, is growing. The community of the future combines privacy with the ability to socialise in safety. Access to spacious communal areas, relaxing gardens, and a pet-friendly environment are all marks of quality and excellence. Also important are modern design, the use of quality materials, and maximum thermal comfort. Full accessibility is essential to allowing residents to age gracefully without being forced to move in later life. Luz Living delivers on all these important aspects.

Designed for the discerning buyer and resident, Luz Living is also an excellent low-risk investment. The condominium will set itself apart from the many short-term rental options in the region, instead providing a solution for full-time residents or long-term rentals, many of whom will be pre-retirees and retirees.

Luz Living will offer 38 apartments, including 34 two-bedroom and four one-bedroom units. It will incorporate a wide range of amenities including a walking trail, a dedicated pet area, and an indoor heated pool, allowing residents to exercise year-round.

The condominium has been designed in “zones”, each with a unique characteristic:

• Garden zone: 1-bedroom garden apartments with pool views, starting at €275,000. These apartments will benefit from direct access to the garden, with their private terraces and gardens integrating seamlessly into the landscaped environment;

• Patio zone: 2-bedroom apartments with pool and garden views, and very large terraces, starting at €475,000. Some of these apartments will also have sea views. These apartments will offer extensive private outside space, sufficient to allow owners to entertain, have pot plants or as a private outdoor area for a pet, for example;

• Sea view zone: 2-bedroom, 2-bathroom apartments with sea, pool and garden views, starting at €549,000. The two top floors will offer stunning sea views as well as vistas of the quaint village with its traditional roofs and the famous Rocha Negra hill.

All apartments will come with between one and three garages, and private lock-up storage. The use of solar systems, energy-efficient heat pumps and advanced cooling methods mean Luz Living will have an A+ energy efficiency rating. With a focus on sustainability, garages will have pre-installation of charging points for electric vehicles.

Luz Living will include multipurpose spaces that can be booked for massages, hairdressing appointments or even on-site medical consultations. With a concierge service at their disposal, Luz Living residents have the best of beachfront luxury living in the heart of the charming Portuguese village of Praia da Luz.

Luz Living will appeal to:

• Pre-retired or retired couples or singles who would consider retiring to Europe and specifically a country with a range of advantages including a low tax regime;

• Existing expat residents looking to move or downsize to upmarket community living, and still benefit from a range of on-site amenities that will exceed those of many a private villa;

• Investors looking for asset-backed returns, with a low-risk project, sensible stage payments and substantial deferred final payment.

The condominium has been designed as fully accessible, in anticipation of the future mobility needs of all its residents, but should not be confused with a care home. Rather, Luz Living replicates the independent living solutions found widely in markets such as the US, South Africa, Australia and even neighbouring Spain.

Following the issuing of the construction license, Luz Living has launched a unique investment opportunity for individual investors. The potential cash-on-cash returns for this low-risk project are estimated to be as high as 28%. The Luz Living team can explain the payment options for both future residents and investors. Longer term, the project already has a waiting list of long-term tenants, underscoring why quality small condominiums are one of the residential real estate trends of the future.

Although designed before the pandemic, in many ways the condominium is “Covid-compliant”. Luz Living is divided into five independent blocs, each with their own entrance. An owners’ lounge will allow residents to meet, or to invite friends, while adhering to social distancing rules.

More information about Luz Living, as well as videos and a virtual tour of the condominium, can be found at www.luz-living.com, or by e-mailing info@luz-living.com for more information. Our local contact is +351 965 683 054, or check the website for our international numbers.