Luz Living: a luxury retiree condominium designed with the resident in mind

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Located in Praia da Luz (Lagos), in the heart of the popular and internationally renowned coastal Algarve, Luz Living will be the first luxury residential coastal condominium in the region.

A magnet for retirees, the Algarve offers wonderful weather, a wide range of sports and outdoor 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 and foreign residents from all over the world, who already live in the Algarve.

The demand for quality, purpose-built condominiums designed for permanent living rather than tourism is growing. The community of the future combines privacy with the ability to socialize safely. Access to spacious common areas, relaxing gardens and a pet-friendly environment are hallmarks of quality and excellence. Modern design, the use of quality materials and maximum thermal comfort are also important. Full accessibility is essential to enable residents to age gracefully without having to relocate later in life. Luz Living addresses all of these important aspects.

Designed for the discerning buyer and resident, Luz Living is also a great low risk investment. Condominium will stand out among the many short-term rental options in the area, instead offering a solution for full-time residents or long-term rentals, many of which will be pre-retirees and retirees.

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

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

• Garden zone: Two-room apartments on the ground floor with a view of the swimming pool, from € 275,000. These apartments will have direct access to the garden, with their terraces and private gardens blending harmoniously into the landscaped environment;

• Patio area: 2 bedroom apartments with pool and garden view, and very large terraces, from € 475,000. Some of these apartments also have a sea view. These apartments will provide ample private outdoor space, sufficient for owners to entertain themselves, have potted plants or as a private outdoor space for a pet, for example. ;

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

All apartments will have one to three garages and private storage space. The use of solar systems, energy efficient heat pumps and advanced cooling methods means that 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 reserved for massages, hairdressing appointments or even medical consultations on site. With a concierge service at their disposal, the residents of Luz Living enjoy the best of beachfront luxury in the heart of the charming Portuguese village of Praia da Luz.

Luz Living will call on:

• Pre-retired or retired couples or single people who would consider retiring in Europe and in particular in a country offering a range of advantages, in particular a low tax regime;

• Existing expatriate residents looking to relocate or downsize to live in an upscale community, while benefiting from a range of on-site amenities that will exceed those of many private villas;

• Investors seeking asset-backed returns, with a low risk plan, reasonable installment payments and a 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. On the contrary, Luz Living replicates the independent living solutions that are widely used in markets such as the United States, South Africa, Australia and even neighboring Spain.

Following the issuance of the building permit, Luz Living launched a unique investment opportunity for individual investors. The potential cash returns for this low risk project are estimated at 28%. The Luz Living team can explain the payment options for future residents and investors. Longer term, the project already has a waiting list of long-term tenants, highlighting 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 blocks, each with its own entrance. An owners lounge will allow residents to meet, or invite friends, while respecting the rules of social distancing.

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 sending an email to [email protected] for more information. ‘information. Our local contact is +351 965 683 054, or check the website for our international numbers.


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