Mexto to Invest Another €20 Million in Portugal by Year-End

The Swiss real estate developer intends to strengthen its presence in Portugal by focusing on the second-home sector on the coast south of the capital.

According to statements to Expresso, Mexto’s sales and marketing director said that the company “maintains the focus of strong residential investment in prime areas of Lisbon. At the same time, it is also analysing the coastal region from Lisbon to the Algarve for second-home projects.

Homem de Mello added that “there is a very significant increase in demand for luxury and super-luxury housing by international clients” and that the buyer’s profile has also changed. “We’re seeing demand for homes with large areas, between 200m2 and 300m2, but which are not for investment, but rather for people who want to live in Portugal,” he added.

To meet this type of demand, the executive cited the example of Maison Eduardo Coelho, an 8.5-million-euro investment in the centre of Lisbon. The development is underway, aiming to rehabilitate and convert an early 19th-century building into a project that includes seven flats, with prices ranging from 910,000 euros to €4.5 million.

For the medium-high segment, the company is also building the 40-flat Ajuda Garden Residences and Prior do Crato, a 20-flat residential project that represents an investment of 20 million euros. Work is scheduled to begin this year.

Mexto has been gaining recognition in this sector in Portugal, specialising in luxury residential rehabilitation and already has a real estate investment portfolio of around 200 million, spread over ten projects and 242 flats.