Lisbon's riverside zone, between Alcântara and Belém, is rapidly growing with new residential, office, hospitality, cultural, commercial, and dining projects. One such project is the Junqueira 27 residential development, located on the historic Rua da Junqueira. This development arises from the restoration of a palace-like building, typical of the noble constructions that emerged in this area during the second half of the 18th century and throughout the 19th century.
The historical character of the building has been preserved in the rehabilitation project, with many of the original architectural elements replicated. Now in an advanced stage of construction, this building of nine apartments will be completed in the first quarter of 2025 and is being marketed at prices ranging from €680,000 to €1,500,000.
The perfect union of contemporary and historical past
These nine residential units, situated in a prime area of the nation's capital, combine historical features with contemporary design. Spread across three floors, the apartments range from one to three bedrooms, with areas spanning from 83 square metres (m²) to 189 m².
The ceiling height, exceeding three metres, will be retained, along with the period's ornate ceilings. The top floor will offer unique views of the River Tagus, while residents on the first floor can enjoy a garden.
Regarding the exterior, the façade has been maintained, though rehabilitated and reinforced, preserving most of the components, including the window openings, balconies, and the original door. Inside, the original staircase and entrance hall (with a ceiling height of 4.40 metres) are restored, showcasing a restored old Olaio boiler in the hall.
A commitment to the prestige of the location
Junqueira 27 was recently launched on the market with sales managed by Athena Advisers and JLL and promoted by LX Capital. David Moura-George, Managing Director of Athena Advisers Portugal, explains that the choice of this riverside area is due to the growing attention it is receiving. This attention is driven not only by the regeneration of Alcântara transforming the area into a new residential and business centre but also by the new metro link that will improve its connectivity with the city centre.
"We anticipate dynamic demand for Junqueira 27, attracting young families who appreciate the location by the river and one of the city's most interesting cultural hubs, in addition to good facilities and services. In an area with significant growth and appreciation potential, we also expect to attract investors' attention," adds Moura-George, as quoted in a statement.
Patrícia Barão, Head of Residential at JLL, also highlights the prestige of the project's location: "Junqueira 27 represents a unique opportunity in the Lisbon real estate market. With a privileged location in an increasingly sought-after area of the city, this charming new project in a completely renovated building harmonises with the building's history, grandeur, aesthetics, and luminosity."
Patrícia Barão further notes that "at a time of limited supply in the city, this project combines a prestigious location with an attractive investment price, meeting the needs of both those looking for an investment alternative with a view to rental income and those seeking a refined and tranquil home."
Lisbon is the 100th most expensive city in the world for foreigners
The cost of living in Portugal has been worsening not only due to inflation but also because of rising house prices (although this has slowed down in recent months). As a result, Lisbon has become the 100th most expensive city in the world for foreigners in 2024, climbing 17 places in this global ranking compared to the previous year. In Europe, Lisbon is the 39th most expensive city.