Luxury new development Foz Avenue will have the “best apartments in Porto” and cost 2.9 million

There are six exclusive apartments on sale in the residential development Foz Avenue, located on Avenida do Brasil, on the outskirts of Foz, Porto, which is in the early stages of construction. Four are T4 (with four bedrooms), one T3 and one T5, which is located on the roof and could even be transformed into a T6 and costs 2.9 million euros.

José Luís Kendall, general manager of Kendall & Associados (K&A), which is marketing the apartments exclusively, highlights the fact that the penthouse apartment, a 410-m2 (4,413-sq ft) duplex with a pool and, with almost the same balcony and terrace space, is "the best apartment in Porto".

In his opinion, this is thanks, on the one hand, to its construction characteristics and finishes, but also its location on the seafront with uninterrupted views of the Atlantic Ocean and the houses of Foz.

José Luís Kendall says that the apartment has aroused a lot of curiosity in the market, with a number of potential buyers interested in buying. For the T4 apartments, prices range from 1.6 million to 1.8 million euros.

Two 4-bedroom apartments have already been sold

The consultant, who operates mainly in the luxury real estate sector, told idealista/news that, at this moment, "two of the T4 apartments have been sold". The T3 apartment is located on the ground floor and has its own a private garden.

The Foz Avenue condominium will also have a garden at the back of the building, a swimming pool and a shared gym. Architect Pedro Guimarães, from Barbosa & Guimarães which designed, among others, the Vodafone building and the Afurada marina in Porto, also designed this project.

The new residential development will occupy a space where there were three old houses up until now and is being built by the company NVE Engenharia, Guimarães' construction company.

According to José Luís Kendall, the apartments and common spaces of Foz Avenue will be endowed with "quality materials, such as window frames and marble, and will have excellent finishes.” They will also have "fully equipped kitchens, with state-of-the-art appliances".

There are six apartments with between three and five bedrooms / Kendall & Associados

Consultant at Foz, Boavista and Baixa

K&A, a premium consulting firm operating in areas ranging from residential, leisure, corporate, hotels and resorts, moved to Rua Nossa Senhora da Luz, on the outskirts of Foz, about a year ago, to an office with a very central location.

It is currently responsible for the marketing of several new developments located in Foz, Boavista and Baixa do Porto, areas of the city where housing has shown a strong appreciation in recent years and which have always been a strong market for the consultant.

K&A was the official mediator of SRU Porto Vivo in 2008, and since then it has been "working on some of the best corporate and investment properties", he said, stressing that "K&A was the first Portuguese mediator to invest in the rehabilitation of Porto's historic centre".

This was at a time, he recalls, when “the price per square metre of buildings to be renovated in Baixa da Invicta was around 200 euros”, when there were still few investors. "Today the value of the buildings to be rehabilitated is between 1,500 and 3,000 euros per square metre (16,000- 32,300 euros per square foot)," he says.

"Renovation is needed, but sometimes it's all a façade"

José Luís Kendall argues that tourism is important for Porto and that with it came the investment and urban rehabilitation of the city. That's why it's important, in his opinion, that we continue to invest in the rehabilitation of the Baixa. However, he warns, sometimes what's being done "is too much façade work". "I think we should try to maintain the interiors of some properties, [although] sometimes it's not easy to reconcile the two", he adds.

The head of K&A considers, therefore, that in downtown Porto "construction from scratch shouldn't exist, beyond what’s already there", and that with a few exceptions "the few green spaces shouldn't be occupied". "The city should have more green spaces and gardens," he says, stressing that even in new squares such as Carlos Alberto, Poveiros and Cardosas, the city should have thought about "putting in more trees and green spaces”.

Considering that the real estate market will continue in "good health", José Luís Kendall believes that foreigners "will continue to come" and buy. This situation is proved by the expats who enter the Foz office every day. He warns, however, that the market needs to innovate, since "more of the same is being done". "It is necessary to invest in other segments and invest in different typologies".

Exclusive villas and apartments for sale

K&A is selling several housing and apartment developments located in its areas of operation. In the case of Foz, K&A is responsible for the sales of a closed condominium of six villas with typologies V3, V3+1 and V5, located in a prestigious area. That development is still under construction.

In Marechal Gomes da Costa, K&A is also selling several houses, some of which are part of residential projects aimed at a high range of clients and which are under construction.

In downtown Porto, a condominium of apartments with new typologies T1, T2 and T3 duplexes stands out, with good finishes, which is also under construction.

Over its 15 years of activity, K&A has sold some of the best properties in Porto and North of the country. It’s also worth highlighting the role it has played in the placement of various hotel brands operating in Portugal and its portfolio in the residential tourism segment, consisting of estates, farms and second homes.

"Some of the most charming properties in the market are part of our portfolio, such as those in Minho, Gerês, Douro and Algarve", concludes José Luís Kendall.