Beauchamp Estates enters Portuguese market
London headquartered Beauchamp Estates, a specialist in luxury real estate, is entering the Portuguese property market, through a new agency partnership with leading Lisbon based independent real estate consultancy Tamea International, who will act as local office partner.
Located on the prestigious Avenida de Liberdade, the “Bond Street of Lisbon”, lined with luxury boutiques and five-star hotels, Tamea International assists domestic and international clients in the sourcing and acquisition of property in Portugal, whether for personal use or investment.
Tamea International has extensive experience in assisting international clients with investments and purchases related to Portugal’s Golden Visa program, started in 2012, which has led to ultra-high-net-worth individuals investing more than GBP3.4 billion (EUR3.7 billion) in Portugal’s real estate market. In Portugal individuals can receive citizenship for GBP454,000 (EUR500,000) – which can be invested in real estate – alongside seven days of stay in Portugal per year.
The entry into Portugal is Beauchamp Estates’ fourth major international expansion activity in 2020 – following new office openings in Tel Aviv and St Tropez and the acquisition of estate agent MAKI which has been rebranded as Beauchamp Estates.
The partnership between Beauchamp Estates and Tamea International reflects rising interest in Portugal, by UK residents and international clients: the conservative, yet welcoming and friendly population, combined with levels of security, temperate climate, beautiful beaches and relaxed Latin life style are highly appealing.
Gary Hersham, Founding Director of Beauchamp Estates, says: “We are delighted to be working with Tariq El-Asad and the team at Tamea International. Our agreement will allow us to have a local office partner to share with clients from across the Beauchamp Estates network, introducing them to the benefits that Portugal offers as an investment opportunity and lifestyle destination.”
Hersham continues: “More and more individuals and organisations are choosing Portugal as a destination, whether to relocate or to invest, not solely for the attractive Golden Visa route to citizenship, but the lifestyle and its strategic geographical location. Changes to the Golden Visa programme restricting real estate investment to inland municipalities, Madeira and the Azores that were due to come into effect in 2021 have now been suspended and are not currently seen as a priority at this time by the Portuguese authorities.”
Tariq El-Asad, Founding Director of Tamea International says: “We are excited to be working with Beauchamp Estates, who share our values and passion for exceptional client service. We are passionate about property and about Portugal, so we enjoy what we do. The partnership will give us access to Beauchamp Estates multi-national office network and through our team in Lisbon we will offer our partner’s clients an efficient turn-key service to ensure that the experience of investing in Portugese real estate is straightforward and efficient. Tamea International has access to some of the finest properties in Lisbon and country wide, from the Algarve to Porto; and through our network of partners and professionals we can ensure the process is seamless.”
El-Asad continues: “Portugal has had a meteoric rise to global prominence in the last five and has developed high quality real estate product and service offerings to meet the heightened levels of expectation both from domestic and international clients. This is something that we believe is set to continue.”
The partners highlight that over the last decade international interest in Portugal has been growing steadily, driven by an expanding tourism industry. In 2006 some seven million people visited Portugal, by 2018 this figure had risen to 12.8 million. Key destinations include the capital, Lisbon, Cascais Porto, the Algarve, Alentejo, Madeira, Azores and increasingly Comporta. Visitor groups include not only those from other European countries (UK, Spain, Italy, France, Germany, Denmark, Scandinavia) but also South America (Brazil), the USA and Asia (China), with many drawn not just by Portugal’s climate and world class beaches, but also culture, history, gastronomy and for business.