If you’ve ever dreamt of living in the same place that football legend Cristiano Ronaldo once called home, now is your chance. The Duque de Loulé 79 building in Lisbon has undergone a remarkable transformation, resulting in a stunning residential complex.
The sale of the Duque de Loulé 79 building took place in August 2018. Situated on the avenue of the same name, in close proximity to Marquês de Pombal, the building has undergone extensive renovations over the past five years. As a result, it is now prepared to accommodate new tenants, offering 34 brand-new apartments that will be available for rent.
This building holds a special place in history, as it was the temporary home of Cristiano Ronaldo and his friend Miguel Paixão back in 2001 when they shared room number 34 while the Sporting Academy in Alcochete was being constructed.
The project is led by Cedars—a Portuguese real estate developer backed by a group of overseas investors—and signifies the demand for prime rental properties in the capital.
A Focus On Long-Term Tenants
The focus of the Duque de Loulé 79 apartments is primarily on the national rental market as opposed to holiday homes (known in Portugal as local accommodation). The project aims to provide tailored services to make a difference to tenants, establishing a brand identity encompassing multiple developments. Duque de Loulé provides long-term leases with amenities suitable for families, such as a dedicated app for bicycle rentals.
The concept of the development is a testament to the growing demand for high-quality rental apartments in Lisbon offered on a long-term basis, and is a signal to investors that Lisbon is most definitely an area that adds value to investment portfolios.
What This Means For the Lisbon Rental Market
The rental market in Lisbon is vibrant and dynamic. Known for its charm, rich history, and beautiful architecture, Lisbon has become an increasingly popular destination for both locals and international visitors. As a result, the demand for rental properties in the city has been rising steadily.
While the development of the football star’s former home may be targeted at long-term tenants, there has been a growing demand in the city for both long-term leases and holiday lets, making it an attractive option to investors who want to ensure that they have the potential to diversify their income stream.
While not every development in Lisbon offers such a tie to footballing history, it’s certainly a location that’s looking of increasing interest to investors and tenants alike.
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