Sintra - Alcabideche - Cascais

Nestled in the picturesque landscape of Portugal, Colares is a charming parish in the municipality of Sintra, which boasts a rich history dating back to Roman times. Known for its historical sights, Colares is home to the enchanting Monserrate Palace and the captivating Capuchos Convent, both reflecting the area’s cultural heritage. Geographically, Colares is situated on the rugged Atlantic coast, providing stunning ocean views and lush forests, making it a coveted destination for those seeking tranquility and natural beauty. The area is characterized by its mild climate, with warm summers and mild, rainy winters that enhance its lush greenery.

The Luxury Property Market in Colares

The exclusive property market in Colares is currently strong, with high demand for luxury homes outstripping the available supply. This thriving market is driven by the area's unique allure and the stable political and economic situation, making it a prime investment destination. Prospective buyers should be aware that the average real estate commission is typically around 5% for buyers and 6% for sellers, reflecting the premium nature of the transactions in this elite market.

Additional Costs and Taxes

When purchasing a luxury home or apartment in Colares, it is important to consider additional costs such as the property transfer tax (IMT), which is levied at varying rates depending on the property's value, and higher rates are applied to luxury properties. Buyers should also plan for notary fees, legal costs, and potentially a construction inspection. The wealth tax on private ownership applies if the total value of property holdings exceeds certain thresholds, while capital gains tax is applicable on the profit made from selling a second or vacation home, but exemptions may exist for homes used as a main residence. The corporate tax on profits for registered companies in Portugal is 21%, while income tax rates for residents vary based on income brackets.

Mortgage Requirements in Colares

The mortgage market in Colares generally allows buyers to finance up to 70-80% of the purchase price, depending on the lender and the buyer's financial profile. Lenders assess the ratio between own and foreign capital, as well as income levels, to determine eligibility for high-value properties.

Desirable Residential Areas

Among the most sought-after areas in Colares are the luxurious beachfront properties along Praia Grande, the forested estates near Almoçageme, and the prestigious homes in the vicinity of Cabo da Roca. These areas offer privacy and stunning natural surroundings, catering to the desires of discerning homeowners.

Accessibility and Connectivity

Colares is easily accessible by road, with well-maintained routes connecting it to nearby urban centers. It is approximately a 30-minute drive from the historic town of Sintra and about 45 kilometers (28 miles) from Lisbon, the nearest big city with its bustling international airport. The area lacks direct rail access, which adds to its exclusivity.

Educational Institutions

Nearby educational institutions include the renowned Carlucci American International School in Sintra and the NOVA University of Lisbon, offering excellent educational opportunities within a commutable distance.

Nature and Outdoor Activities

Surrounded by the protected Sintra-Cascais Natural Park, Colares offers breathtaking landscapes encompassing rugged cliffs, pristine beaches, and verdant forests. Outdoor enthusiasts can engage in activities such as hiking, surfing, and mountain biking. The region is also famous for its exquisite wines, with numerous vineyards available for visits.

Luxury Lifestyle and Amenities

Colares is equipped with exclusive boutiques, high-end restaurants like Nau Palatina, and premium accommodations such as the Penha Longa Resort. The vibrant cultural scene includes annual events and nearby attractions like the Sintra National Palace and Museum, providing rich cultural experiences. For healthcare, hospitals and clinics in Sintra are readily available, ensuring comprehensive medical services are at hand.

Infrastructure and Public Amenities

The public infrastructure in Colares is robust, with well-developed roads and access to essential services. While maintaining its quaint charm, the area ensures residents and visitors alike have access to modern conveniences and amenities, making it an idyllic place to call home.