Real Estate Investor Magazine South Africa June/ July 2019 | Page 56

OFFSHORE
Hidden gems behind walls
Walled cities are charming places to own successful international property
BY INKY DRESNER
ome of the most interesting places to visit are walled
cities, from Lucca in Italy to Girona in Spain and even
further afield to Jerusalem and Ping Yoa in China - old
walled cities hold a special fascination. They also offer won-
derful opportunities to own international properties in popu-
lar cities, says international property specialist and founder of
Hurst & Wills, Lisa Bathurst.
Throughout history city walls have been built to offer
protection from enemies. Some cities were built on hills to
make invasions more difficult. Others fronted the sea to protect
the towns from invaders in ships or even pirates. “Today
well-preserved walled cities bring tourists and have become
wonderful cities to live in,” says Bathurst. “They also offer
South African buyers a great opportunity to own successful
property abroad. Portugal has some of the most impressive
walled cities in Europe and to add to the appeal, this country
also offers South Africans Golden Visa opportunities,” she
says.
The medieval village of Obidos in Portugal is situated only
an hour by bus, costing €8, away from the hustle and bustle
of Lisbon. “This village is a wonderful example of a medieval
town completely surrounded by intact fortified walls, made out
of local limestone and marble,” says Bathurst.
“The charming look of its streets, squares, houses and walls,
along with the massive castle have turned the picturesque
village into a very popular tourist destination in Portugal.”
Tourists flock there to immerse themselves in the village’s
visible history, while tasting the local cherry liqueur known as
ginjinha or ginja.
To add to the appeal of owning property in this village,
Obidos is located on a Portuguese property hotspot, the Silver
Coast. With its white beaches, championship golf courses and
mild climate, this area offers the ideal location for relaxation
and fun outdoor activities like hiking, surfing and golf.
Properties range from traditional homes to modern villas with
sea views. This is an excellent alternative to expensive areas
of Lisbon and Cascais, while still being close to the city and
international airport, says Bathurst.
Another walled gem is Evora, about 2 hours south of
Lisbon. Historically, Evora was a major trading and religious
centre contained within the city’s ancient walls. These days it
is a young and vibrant city, with a large student population
attending one of the world’s oldest universities. The city is
surrounded by the wine region of Alentejo, known for its
vineyards, olive groves, fortified towns and traditional villages.
Bathurst says, “This city has a warm climate, great wine
and fine restaurants. The cobbled streets are charming and
overlooked by an impressive, colourful cathedral that offers
fantastic views of the surrounding wine region, it’s a real gem,
says Bathurst.
“Evora has some excellent property opportunities from
delightful new townhouses to refurbished places and vineyards
in the Alentejo wine region. The area also falls within the low-
density rehabilitation criteria for Golden Visa, meaning that
there are Golden Visa opportunities from only €280,000.
Another walled city is Portuguese Lagos, situated on the
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Western side of the Algarve. Lagos is a mecca for outdoor
sports especially known for its surfing and mountain biking. It
also offers wonderful cultural attractions and a well-preserved
old town with town walls dating back to the 16th century,
says Bathurst. “The old town is full of beautiful, colourful
architecture,” says Bathurst. “There is no shortage of churches
but one of the most interesting is the Capela dos Ossos (the
Chapel of Bones), at the Church of San Sebastian. The marina
is the town’s social hub, with a throng of bars, restaurants
and shops. The area is famous for its beaches, the best on the
Algarve, it’s great for swimming and kayaking as you search
for orcas, dolphins and whales,” she says.
“There is a huge variety of property in Lagos, says Bathurst.
“From central historical townhouses to villas and modern
apartments. The area is popular for holiday rentals which,
though seasonal, can earn good annual yields. It’s also popular
with lifestyle retirees looking for sailing, relaxation and golf.
Some resorts offer guaranteed returns,” she says.
Walled cities, especially these three in Portugal offer good
value for South Africans looking to diversify their wealth
portfolio with international property. Hurst & Wills offers
personalised advice and, thanks to our experience in the
market, can assist anyone looking to purchase property abroad.
RESOURCES
Hurst & Wills, location Evora