Could Comporta be the new Ibiza?

Investors are going crazy for Comporta, this Portuguese beach village with pristine beaches and scarce urban development being the main attractions of this small but posh town known as “The Hamptons of Portugal”.

Comporta
Could Comporta be the new Ibiza? / Flickr/Creative commons
19 December 2019, Redaction

Quite possibly Portugal’s best-kept secret, the posh beach town of Comporta is attracting the interest of international investors. The pristine beaches and scarce urban development of the area have put the town on the radar of big money investors who have spotted the possibility of turning Comporta into the new Ibiza, according to the Spanish newspaper, El Mundo.

Until now, few people have heard of this hidden gem which is just south of Lisbon. It forms part of an isolated estate that was once in the hands of the Crown, then a British holding company and more recently, the Espirito Santo family, one of the richest families in Portugal. None of them were able to recognise the true potential of this village and limited themselves to simply managing the numerous existing rice fields. The beaches which are now an up-and-coming hotspot for the rich and famous, were once nothing more than entertainment for the workers in these fields. Find out things to do in Comporta.

The situation in Comporta changed radically at the turn of the century, when the head of the Espirito Santo bank, Ricardo Salgado, created “Herdade de Comporta”, one of the largest agricultural estates in Portugal, with the aim of turning the 12,500 hectare estate into a destination of reference for luxury tourism. Salgado's plan to transform the village suffered a severe setback in 2014; his bank collapsed amid allegations of fraud and money laundering, meaning he was forced to give up several of his properties.

Since then, many international investors have shown an interest in the area. Last November a committee of Portuguese and French real estate investors managed to take over the real estate assets of Herdade. The new owners are Amorim Luxury and Vanguard Properties, who have forked out 157 million euros for about 1,400 hectares of land in which they intend to invest 1,500 million euros. Discover current real estate agents in Comporta.

The idea of these investors follows the line of the recent real estate boom in Portugal. The Portuguese coastline is at its peak and other towns close to Comporta, such as Troia, have even managed to win the hearts of important personalities like Sandra Ortega. The daughter of the famous Spanish businessman has launched a luxury hotel project that hopes to be ready in 2024.

Article seen in: La 'nueva Ibiza' de Portugal desata el interés de los inversores internacionales (El Mundo)

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