Monte Estoril, Portugal, offers an upscale coastal town with a bustling seaside promenade
Monte Estoril is a leafy hillside resort town on the Portuguese coast of Lisbon with a chic atmosphere, a lively promenade and stunning sea views.
The easily accessible seaside village is connected to
via a scenic coastal rail line. It is a popular getaway for city dwellers, located between the refined seaside resorts of Estoril and Cascais, on the Portuguese Rivera, which was once favored by exiled royalty and aristocracy.
By the sea, hotels and restaurants are crowded on weekends and day trips, and it gets more and more crowded. More and more people are looking to live there permanently or have a base there, agents said. This is, in part, thanks to its ongoing economic recovery, stabilization of the real estate market and growth in tourism, which began at the end of 2013.
Even before the pandemic, Monte Estoril’s real estate market had strengthened, with local agents citing higher levels of sales activity, rising prices and low inventory. Its luxury market is evolving rapidly and sees the arrival of new boutique programs with hotel-type amenities and a new pandemic-influenced focus on outdoor spaces.
The most popular homes on the market in Monte Estoril right now are upscale apartments that offer an upscale lifestyle, said Filipa Frey Ramos, director of Barnes Portugal.
Following: Philadelphia’s Rittenhouse Square is all about location, community, and an iconic park
Monte Estoril is a district of the municipality of Cascais, in the district of Lisbon in Portugal, between the seaside resorts of Cascais and Estoril.
Rua Henrique Mantero Belard and Avenue Piemonte form its northern border while it is bounded to the south by the Atlantic coast. Rua do Viveiro and Av. Fausto de Figueiredo sit along its eastern edge and Rua de Santo Antonio, Avenue Sra. Monte da Saúde and Avenida Pádua and Avenida da Venezuela are on its western side.
Preferential prices at Monte Estoril range between € 743 per square foot and € 1,393 per square foot (US $ 861 to US $ 1,615) and a sea view property in Monte Estoril is typically 30% above the average for market, said Ms. Frey Ramos. .
Gonçalo Canelas, director of marketing and technology at Portugal Sotheby’s International Realty, said houses typically cost between 750,000 and 12 million euros depending on features, finishes and views, while apartments range between 2 and 6 million euros. ‘euros.
Monte Estoril has a diverse mix of houses, villas and apartments. Right now there are more apartments than houses, Canelas said.
Most of the houses in Monte Estoril were built at the start of the 20th century. There are luxury apartments located in gated residences overlooking the sea, charming villas as well as new properties.
Monte Estoril has traditional buildings with painted stucco exteriors and terracotta tiled roofs with small or no gardens, as they are located on slopes, although some areas have large grounds without swimming pools, explained Ms. Frey Ramos.
The palaces of Monte Estoril were built for the wealthy as summer residences in the early 20e century and some feature colorful Azulejos tiles and elaborate ornaments such as gables. They are found in the streets surrounding the Carlos Anjos Garden Park, known locally as Jardim dos Passarinhos, Avenida Sanfre, Avenida do Faial and Avenida de Sabóia. The Monte Estoril House was built in 1917 in the Baroque Joanin style, emblematic of this period and of the entire Cascais-Estoril-Lisbon train line.
Following: Vida Is Mallorca, celebrity favorite and sunny son, the jewel in the Spanish crown
Estoril Sol Residence, a contemporary set of two glass-enclosed buildings on Avenida Marginal, which has divided local opinion, brings a modern look to the waterfront.
Currently, the most expensive apartments on the market in Monte Estoril are located in the Villa Maria Pia project, in a converted period chalet that once belonged to Italian Princess Maria Pia of Savoy and in two modern buildings. The 14 apartments have private and shared gardens, sea views and terraces with plunge pools.
What makes it unique
The pedestrianized seaside resort of Monte Estoril enjoys an excellent location due to its proximity to the sea, downtown Estoril and Cascais, and it is a quiet but lively place that retains its historic aristocratic vibe, said Mr. Canelas.
The Monte Estoril promenade continues to Cascais and São João do Estoril, and is “one of the characteristics of the area, full of bars and restaurants with pleasant terraces, perfect for enjoying the best of the place” , according to Porta da Frente Christie’s International Real Estate.
Dom Luís I, King of Portugal, first put Cascais on the map when he created a summer residence there in 1870. Cascais and Estoril drew Portuguese royalty into exile after the monarchy was abolished in 1910 , and other European royal exiles during WWII, which made it a magnet for spies from all over Europe. Cities have become stylish vacation spots, with expensive hotels and the extravagant Casino Estoril, which inspired Ian Fleming’s first James Bond book, Casino Royale.
Overlooking the bay, Cimas, which is considered the best restaurant in Monte Estoril, is a historic Portuguese restaurant built in the style of an Elizabethan cottage, which serves authentic Portuguese dishes. It was opened by the Englishman Horace Bass in 1941 and it was known as the base of the spies living in the region during World War II.
Monte Estoril’s sports facilities include Golf do Estoril, Portugal’s oldest golf club with greens overlooking the sea; Clube Ténis Estoril, a tennis club; and many types of water sports including surfing, stand-up paddling, kayaking, and water bikes. There is also the Banyan Tree Spa at the Palácio Estoril Hotel and the nearby Tamariz Beach Club on Estoril Main Beach.
In the neighborhood there is the Museum of Portuguese Music, which has a collection of Portuguese musical instruments, documentation on Portuguese music and hosts exhibitions and concerts.
In Cascais there is Entraguas, recommended by the Michelin Guide, which offers a range of grilled and fried fish, fish and rice dishes, as well as steak and pasta dishes. Other good addresses include Organic Caffè at the Hotel Palácio Estoril; Mar do Inferno, a seafood restaurant in Cascais; and Cantinho do Avurez in Cascais, which offers contemporary decor and traditional dishes with a modern twist, including shrimp in a Thai sauce, according to viamichelin.co.uk.
Some of the works of Portugal’s most famous artist, Paula Rego, are housed in a striking red concrete structure by architect Eduardo Souto de Moura, known as Casa das Histórias Paula Rega in Cascais. The city also has a museum of the lighthouse of Santa Marta, fortifications of the citadel and an experimental theater.
The best schools in the area include Saint Julian’s School, a private international school in Carcavelos for students aged 3 to 28, located 4.6 miles east of Monte Estoril; Cascais Park International School, a private bilingual school that teaches students from grades 1 to 6 (11 years old); Tasis Portugal, an American private international school in Linhó, Sintra, for the levels of preschool to grade 8, located 7 km away; St. James Primary School Cascais, a private primary school 3.8 km away; and the Montessori School of Lisbon, a private school for students aged 3 to 12, located 3.5 km away.
Following: Located on the “Flower Coast” of northern France, Deauville offers historic half-timbered townhouses and sumptuous country châteaux
Who lives here
Well-educated Portuguese families with high purchasing power live in the city as well as an international community made up of Belgians, French, Swedes, Swiss and Brazilians among others, according to the agents.
The pandemic has had no effect on the Monte Estoril market, Ms. Frey Ramos said. “People put their homes on the market for the same reasons they always have, they don’t have to sell for financial reasons,” she said.
“Over the past two years, and even before the pandemic, homeowners have become more aware of the attractiveness of the area, and so now asking prices are generally close to what they are trading at,” Ms. Frey Ramos. “Prices in the high-end market have shown a slight but steady increase. “
There is also growing demand there, the Porta da Frente Christie’s International Real Estate sales team told Mansion Global via email. “There is little free land to build new homes and therefore demand will exceed supply. Sales have increased significantly and the time it takes for sellers to accept offers has decreased, ”according to Christie’s office. “The prices are about the same as last year, although some have increased slightly depending on the unit.”
Click for more profiles of upscale neighborhoods around the world