Luz Living will be a unique project. A combination of attention to permanent (versus touristic) living, a focus on social spaces aimed at resident interaction, fully accessible design, practical solutions for everyday living, and its unique location, will set the project apart from other offerings in the region. The design and features have been very much influenced by direct feedback from shareholders, buyers, investors and possible future residents. A balance has been struck between maximising sea views and keeping enough of the build area for resident amenities.
Once the development is fully built, this will be backed up by a service-led approach to staffing and resident interaction, and a focus on internal management of Luz Living to avoid excessive condominium (or HOA) fees. This means investing in people, and creating a link to Luz Living residents.
One of the missing links in the residential real estate model in the Algarve is the ability for local expat residents to move to a suitable community, remaining totally independent but feeling that they have the “support” of like-minded people of similar age and interests. Whether not wishing to manage a large villa, of being located too far from amenities and services, or wanting to eliminate stairs from everyday living, having a range of amenities on site, or simply wanting a modern build with better, insulation, heating, security and accessibility that your current home, Luz Living is aimed at you.
We hope that existing residents from the Luz and greater Lagos area will be as excited to have and move into this solution as we are to create it. We also hope that other residents from across the Algarve will consider the merits of moving location in order to find a solution that is fit-for-perfect. As we say, better to move within the Algarve than having to return to your country of origin because you feel you do not have a suitable solution in the region.
Luz Living will appeal to broad cross-section of people, all of whom will have one factor in common - the wish to plan ahead:
We have already started to discuss and will be implementing a series of links and relationships with local partners and suppliers, including food & beverage, healthcare, leisure & sporting, transportation, cultural and others, to ensure a broad set of off-site services as well as a guarantee of a close link between Luz Living residents and the local community.
We think we are not being too bold when we say that nowhere in the Algarve will a similar concept exist, within walking distance of the same range of amenities. The combination of the on-site amenities (which will make Luz Living a destination in its own right) and the proximity to many other services and activities, will make this a one-of-a-kind project. It is certainly unmatched in the Luz and greater Lagos area.
Luz Living will be a residential project. We want Luz Living residents, whether buying or renting long-term, to consider it home. If you are an investor in the project, please note that the end customer is likely to be a long-term expatriate resident interested in having a permanent home in a quality development. This means that this project will not be a good fit for anyone looking to make a return exclusively by renting out their property to tourists at high prices in the summer. The emphasis will be to create a quality long/term or permanent living model, which will attract stable but premium returns for investors over the long term, and maintain Luz Living’s exclusive feel. This means that an investor should also confidently see Luz Living as a product whose value will appreciate during the construction phase, and beyond. Early stage investment should be rewarded with capital growth which is not speculative in nature.
If you are a full-time resident, whether having purchased your own apartment (condo) or renting long-term, you can rest assured that you will not be treated like a second-class citizen during the busy summer months. You will still be able to go for your morning swim if that is your routine, or read a book in the quiet media centre or play bridge with your neighbours or friends in the residents’ lounge.