x Abu Dhabi, UAETuesday 25 July 2017

Claim an estate in Portugal for €26m

The Life: The Life looks at the property market in Portugal, where among other offerings an ancestral estate outside the pretty town of Sintra is available – at a price.

This Portuguese period residence and estate outside the pretty town of Sintra can be yours for a cool €26 million. Courtesy IRG International Realty
This Portuguese period residence and estate outside the pretty town of Sintra can be yours for a cool €26 million. Courtesy IRG International Realty

Portugal has been in the news this week, buckling under austerity measures. This has prompted The Life to take a look at the property market there.

A number of families have been forced by - among other things - recent tax measures and liquidity problems to put their ancestral estates on the market, including this one from the 18th and 19th century just outside the pretty town of Sintra, a world heritage site. The asking price is €26 million (Dh124.9m), although the current owner is likely open to negotiation.

Originally owned by the family of the Dukes of Palmela, the property was acquired after the Second World War by António Cardoso dos Santos Loureiro as a reward for his help over difficulties in France.

António Oliveira Salazar, ruler of Portugal for 40 years, was a close friend of the family and frequent visitor to this estate. The house is located in Linhó, halfway between Estoril and magical Sintra.

Importantly for potential proprietors, the house is located just five minutes from Tires executive airport. It's also 20 minutes from Lisbon International Airport. The beaches and golf courses of Estoril and Cascais are five minutes away by car.

The realtor describes the estate as having a "majestic main entrance" leading to the principal house which has two main living/reception rooms, library, dining room, kitchen, 10 bedrooms with nine bathrooms, extensive staff quarters, garages as well as many different garden areas which include a covered swimming pool. The property also has its very own church. Within the property there are numerous agricultural buildings that can be converted into, say, flats. This makes the property ideal as in investment.

The estate also benefits from its location outside Sintra, escaping the town's humidity. It's also situated on the south side of a hill, benefiting from the sun.

For potential owners with children, the house is also close to a private American school.

 

lgutcher@thenational.ae