Pelican Apartments is a four-star apartment hotel qualifying investment for Portugal’s Golden Visa programme enabling the investor to live and work in Portugal and apply for permanent residency and full Portuguese EU citizenship after a five-year qualifying period.
The minimum required investment is €328,000.
You can download the brochure here.
The Location
Alvor is one of the finest resort towns in southern Portugal, located on the Ria de Alvor estuary between Lagos and Portimao.
This charming historic town attracts many tourists every year, and it is home to one of the longest sandy beaches in the Algarve. Alvor is popular with golfers being the home of the Penina Championship Course and two other courses. It is a short distance from the Algarve International Circuit, home of the Portuguese Grand Prix and many other attractions.
The Property
Pelican Apartments is a popular four-star apartment hotel popular with holidaymakers visiting Portugal’s stunning Algarve coast. The resort was fully refurbished in 2021 and offers a restaurant, bar, swimming pool and parking facilities.
It has an 8.6 rating on the hotels’ site Booking.com
The Investment
Pelican Apartments is a ready-built development of four-star holiday lets.
Investments in one and two-bedroom units are available from €400-to 450,000 for an Apartment Hotel full title deed.
The property pays a rental income of between 3.5 and 4% per year.
An upfront payment of up to 24% of rental income of the period is available to investors, reducing the initial investment to €328,000 for one bedroom units and €380,000 for two.
The developer offers an optional 100% buyback after the investor has received permanent residency or citizenship status in year six.
Owners also benefit from the right to use the property for four weeks a year.
