The Aldeias do Xisto will create a Real Estate Fund for the renovation and enhancement of the villages’ man-made heritage. The innovative composition of this fund enables the bringing together of small and large investors around a business opportunity, which also enables the area to be more open to the outside world and boost its capacity to attract and retain people.
The Aldeias do Xisto Property Portal was presented before a room full of public and private partners, in Oleiros. Formed within the ADXTUR - Schist Villages Tourism Development Agency, the Portal seeks to bring together a myriad of actors in the context of the strategic and institutional soundness of the Aldeias do Xisto brand.
Membership to the Property Portal to be set up shall be in the form of investment units, which may take various forms, such as the sale of real estate to the fund, financial investment, transformation of the built-up assets into investment units or the transfer of real estate for commercialisation by the Fund.
This Fund will guarantee greater exposure of the Aldeias do Xisto to the outside world, filling gaps in the existing tourism supply, but also placing properties on the market for other purposes, such as scientific and artistic accommodation, long term rental, timeshare, among others. In this first phase, priority will be given to properties within the 27 Aldeias do Xisto, in scenic, landscape and natural points of interest, and also to properties with a historical and cultural value.
This Fund will operate at the service of the Aldeias do Xisto objectives and mission to attract and retain people, knowledge and capital, always keeping its values of enhancement of lifestyle and heritage at the forefront.
"With the creation of the Aldeias do Xisto Property Portal, we are once again mobilising partners and calling on external and institutional investors for the renovation and enhancement of man-made heritage, rehabilitating the properites and attracting new ambitions, motivations and commitments that stimulate the social energy that this territory needs and deserves", said Rui Simão, Executive Director of ADXTUR.
Advantages of the Aldeias do Xisto Property Portal:
• It brings together liquidity, man-made heritage, financial capacity, and strategic planning;
• It promotes cooperation, facilitates investment, and ensures the quality of real estate, reducing risk and uncertainty, as well as a range of values and negative competition in prices and practices (race to the bottom);
• It favours investment and return, both financially and in quality of life;
• It encourages the allocation of real estate capital where gaps exist and where it effectively creates income, without conflicting with activities already in operation;
• It provides the area with new properties that enable permanent residence at an affordable cost, with a secure income for the Fund, as well as increasing the Gross Value Added (GVA) of the remaining activities;
• It is anchored in and benefits from the strength and reach of the Aldeias do Xisto brand (in fact, in the parishes with villages registered in the network of 27 Aldeias do Xisto the average price of property is EUR 670/m2, while in the remaining non-urban parishes of the territory the average price of property is EUR 580/m2).
