With all the allure of a luxury holiday, why not invest in the Wyndham Grand Algarve Residences?
Words Selma Day
Being a family-friendly resort within striking distance of Faro airport, (a 15-minute drive), it’s no wonder the exclusive destination sees a large number of repeat visitors, many of whom are now looking to buy second homes there.
For stress-free ownership, you might want to consider buying into the quality and high levels of service associated with a luxury hotel group and one development that has been getting noticed since its launch last spring is the Wyndham Grand Algarve Residences.
While the opportunity to apply for Portugal’s Golden Visa scheme ended last month for many regions of Portugal, including the Algarve, the Wyndham Grand Algarve is exempt and owners of a home at the resort are still eligible to apply.
The Golden Visa offers five years’ residency rights and visa-free travel within the Schengen area of 26 European states, the opportunity to live and work in the country and ultimately to apply for Portuguese citizenship after five years. Golden Visa investors also benefit from no income tax on worldwide income generated outside Portugal.
An added benefit to families, who are drawn to Quinta do Lago’s outdoor lifestyle, is that dependent children can also study in Portugal.
In addition to Golden Visa eligibility, Wyndham Grand Algarve Residence owners are guaranteed a minimum four per cent net annual return on investment for five years, according to director of real estate Ana Damásio, who says demand is being driven by “a reassessment of future lifestyle options and the access to the many benefits that a second home in the Algarve can provide”.
She adds: “High-net-worth buyers are as excited by the exceptional amenities on offer at the resort as they are by the guaranteed return on investment.
Designed by London-based company, twenty2degrees, each apartment features neutral pastel tones, stylish, contemporary furnishings fitted to the highest specifications and fully-equipped modern technology. Being open-plan, they allow in plenty of natural light and provide stunning views across the lush gardens. The apartments come with large bedrooms, complete with en-suite bathroom and dressing area, a full kitchen and spacious guest bathroom with shower, along with a generous patio or terrace, personal parking spaces and storage facilities.
Food wise, there’s something to suit all tastes. Within the development are five restaurants ranging from a pool-side café to a contemporary bar and lounge, a relaxed buffet or a fine dining, an al fresco restaurant offering local cuisine and a sophisticated new lobby bar for afternoon tea and creative cocktails by night.
Conscious of minimising the impact on the environment, the development uses solar panels for water heating, as well as reducing cooking gas consumption, use of plastic and encouraging sensible use of water.
The development is within walking distance of Quinta do Lago beach and lake and residents are offered exclusive discounts to enjoy the world-renowned sports facilities at The Campus sports complex, such as a high-performance gym, personal training, fitness classes, tennis and padel courts, a 25-metre heated pool and scenic off-road cycling tours.
Another attraction of buying in Quinta do Lago is that a master plan established almost 50 years ago that gave birth to this low-rise, low-density and ecologically-driven region, has been preserved through careful building restrictions. This is limited to just nine per cent of its 2,000 acres of terrain and three renowned golf courses – all situated in the protected 2,000 acre nature reserve of Ria Formosa.
Prices for the 132 one, two and three-bedroom luxury private residences range from €534,000 to €2,500,000. Service charges are covered by the management fee which is a percentage share of annual rental income.