A press release by Kronos Homes states that Savills highlighted that the increase “underlines the depth of demand” for branded residences in Europe, underlining that “whilst the branded residences concept is originally derived from the hospitality model it remains a real estate product whereby the same key fundamentals apply – location, location, location. In this era of branded residential growth, with the right location, the right brand, the right developer and the right advice, success is almost guaranteed.”

Case of Portugal

When it comes to Portugal, the country “is one of the countries leading that performance, ranking third in Europe for number of projects, with 33 completed and 18 in the pipeline. In terms of completed schemes, it accounts for 23.4% of Europe’s total.”

The Algarve is already experiencing an increase in offer, experiencing “a growing shift of branded residences towards resort developments, which Savills projects will account for 65% of total supply by 2032.”

New project

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“Coastal resorts are understandably popular, combining the beauty and wellness benefits of the seaside with luxury branded accommodation. The 24/7 wellness concept at The Residences at The Westin Salgados Beach Resort showcases the incredible potential of frontline beach branded residences”, as read in the press release sent to The Portugal News.

Located in the “backdrop of the Salgados Lagoon Nature Reserve, Salgados Golf Course and Salgados Beach, the properties blend luxurious living with an outstanding wealth of facilities. Owners have access to five swimming pools on site, along with spa facilities, a fitness and wellness centre and a picturesque 18-hole golf course.”

“Owners of The Residences at The Westin Salgados Beach Resort have glorious coastal scenery on their doorstep, with the local area offering abundant opportunities for hiking, running, swimming, kite surfing, paddleboarding and much more. When owners want to look beyond the coastal serenity, the Algarve’s restaurants (including six Michelin-starred venues) are within easy reach, along with shops and boutiques supplying everything from daily essentials to high-end apparel.”

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The prices of these residences that are spanning property, wellness, lifestyle, location, community and service, start from €675,000 for a two-bedroom home. The owners will also have access to “concierge, reception and maintenance teams, a kids club and numerous eateries surrounded by lush green landscaping. The homes themselves are spacious, filled with natural light and furnished with the unique sense of welcome and comfort that is intrinsic to the Westin brand.”

Alda Filipe, Regional Director and Partner at Kronos Homes, which is managing the sale of the branded residences, comments: “Less than an hour from Faro International Airport, The Residences at The Westin Salgados Beach Resort provide an outstanding opportunity to blend a lifestyle investment with capital growth and excellent income potential as part of a professionally managed service. Buyers can enjoy the luxury and prestige associated with the Westin brand, both within their home and as part of the wider resort with its array of first-rate wellness facilities. Resorts of this calibre highlight why Portugal is one of Europe’s leading destinations for branded residences.”