Campo de Ourique Luxury Development 'Jardim de Ourique' Launches with Half of Units Already Sold

Dils Portugal, a prominent real estate development and commercialization firm specializing in residential and commercial properties across Lisbon, has launched exclusive sales for Jardim de Ourique, a boutique residential development in Campo de Ourique. The project comprises 10 apartments ranging from one-bedroom-plus-study (T1+1) to three-bedroom (T3) configurations, with 50% of units already secured by buyers—a strong early indicator of sustained demand for quality housing in central Lisbon neighborhoods.

Remaining units are priced between €716,000 for a 109-square-meter two-bedroom apartment and €979,000 for a 129-square-meter three-bedroom unit with 16 square meters of exterior space. These price points position Jardim de Ourique within the premium segment of Lisbon's residential market, reflecting both the neighborhood's established desirability and the project's distinctive amenities package.

The development's centerpiece is an expansive 3,500-square-meter communal garden featuring vegetable plots, an orchard, children's playground, and leisure areas—an increasingly rare offering in central Lisbon that appeals particularly to families and lifestyle-focused buyers. Additional amenities include a fitness center, co-working space, and dedicated resident parking located 160 meters from the building, addressing practical needs for modern urban living.

Campo de Ourique occupies a strategic position approximately 3 kilometers west of central Lisbon, bounded by the expansive Parque de Monsanto to the west and the Alcântara valley to the south. The neighborhood is served by multiple tram lines (including the historic Tram 28) and bus routes, with convenient access to the 25 de Abril Bridge for connections to the south bank. Jardim de Ourique specifically benefits from proximity to the Liceu Francês Charles Lepierre, the popular Mercado de Campo de Ourique (a renovated market hall with gourmet food stalls), and the neighborhood garden Jardim da Parada.

Campo de Ourique has evolved into one of Lisbon's most sought-after residential areas, particularly among Portuguese families, returning emigrants, and expatriates seeking authentic neighborhood character combined with urban convenience. The area's tree-lined streets, traditional architecture, local commerce, and community atmosphere differentiate it from more tourist-oriented central districts. For comprehensive analysis of Lisbon's residential neighborhoods and their investment characteristics, see our Lisbon neighborhoods guide.

The development offers panoramic views over Parque de Monsanto—Lisbon's largest green space at 900 hectares—and the Alcântara valley, providing visual amenity increasingly valued in dense urban environments. This combination of established neighborhood infrastructure, green space proximity, and modern residential offerings positions Jardim de Ourique within a specific market segment targeting quality-focused buyers rather than speculative investors.

Market Implications for Residential Investors

The 50% pre-sale rate before official market launch provides concrete evidence of sustained demand for well-located, amenity-rich residential properties in central Lisbon neighborhoods. This sales velocity occurs despite broader European economic headwinds and rising interest rates, suggesting that quality properties in established locations continue to attract both end-users and investment buyers with longer-term horizons.

The pricing structure—ranging from approximately €6,569 to €7,581 per square meter depending on unit type and outdoor space—reflects Campo de Ourique's premium positioning within Lisbon's residential market. These figures align with recent transaction data for new-build properties in established central neighborhoods, indicating that developers maintain pricing confidence despite macroeconomic uncertainties. For investors evaluating Lisbon's residential market dynamics, such pricing provides useful benchmarks for assessing value in comparable locations.

The project's emphasis on substantial communal outdoor space and lifestyle amenities responds to evolving buyer preferences accelerated by pandemic-era experiences. Developments offering meaningful green space, home office facilities, and community-building features demonstrate differentiated appeal compared to conventional apartment buildings—a factor particularly relevant for foreign buyers accustomed to such amenities in their home markets. This trend suggests that future residential developments incorporating similar features may command pricing premiums and achieve faster absorption rates.

The relatively small scale of 10 units represents a broader trend toward boutique developments in established neighborhoods where available land parcels limit project size. For investors, smaller developments can offer advantages including more intimate community character and potentially lower homeowners association governance complexity, though they may lack economies of scale for amenity provision compared to larger projects.

Dils Portugal's Development Strategy

Dils Portugal has established a market presence focusing on residential and commercial property development, commercialization, and management across Lisbon and surrounding municipalities. The company's involvement in Jardim de Ourique as exclusive commercialization agent reflects its positioning within Lisbon's mid-to-premium residential development sector, where specialized market knowledge and buyer networks facilitate project absorption.

According to Pedro Barreto, Head of Residential Development at Dils Portugal, the project "combines location, quality, and extensive outdoor spaces in an area with strong real estate appreciation." This positioning statement emphasizes the three factors increasingly driving buyer decisions in Lisbon's mature residential markets: established neighborhood desirability, construction quality and design, and distinctive amenity offerings that differentiate projects within competitive market segments.

Campo de Ourique Residential Market Context

Campo de Ourique has experienced significant appreciation over the past decade as Lisbon's residential market expanded beyond traditional prime central areas. The neighborhood's appeal rests on its combination of authentic Lisbon character, comprehensive local services, and residential tranquility—factors that attract both Portuguese buyers seeking to remain in central locations and international buyers seeking neighborhood integration rather than tourist-oriented environments.

Several factors continue to support residential demand and property values in Campo de Ourique and similar established neighborhoods:

• Limited New Supply: Constrained development opportunities in fully built-out neighborhoods restrict new housing supply, supporting pricing for available units
• Demographic Demand: Returning Portuguese emigrants, remote workers, and families with school-age children seek neighborhoods offering community character and services
• Infrastructure Maturity: Established schools, healthcare facilities, markets, and commercial services reduce daily-life friction compared to emerging areas
• Green Space Proximity: Access to Parque de Monsanto and neighborhood gardens provides recreational amenity increasingly valued in dense urban contexts

These structural factors differentiate established neighborhoods from emerging areas where infrastructure development may lag residential construction. For foreign investors, established neighborhoods typically offer more predictable rental demand and tenant profiles, though potentially lower appreciation rates compared to rapidly transforming districts. Investors can explore current opportunities in Campo de Ourique and similar neighborhoods through our Campo de Ourique off-plan properties listings.

The broader Lisbon residential market continues to demonstrate resilience despite macroeconomic pressures including elevated interest rates and inflation. Transaction volumes have moderated from pandemic-era peaks, but pricing has remained relatively stable in quality locations, suggesting that fundamental demand factors—including housing shortage, demographic trends, and international buyer interest—continue to support market conditions.

Investment Considerations for Foreign Buyers

Foreign investors evaluating projects like Jardim de Ourique should consider several factors specific to Portugal's residential market. Property acquisition costs beyond purchase price include IMT property transfer tax (calculated on progressive rates up to 6% for urban properties above €1 million, though primary residences receive exemptions on the first €92,407), Stamp Duty at 0.8%, and legal/registration fees typically totaling 1-2% of purchase price. For precise cost calculations, utilize our True Cost Calculator for property purchases.

Buyers should engage English-speaking real estate lawyers experienced in Portuguese property transactions to conduct due diligence on development permits, condominium regulations, construction contracts, and completion guarantees. Off-plan purchases carry specific risks including construction delays, developer financial difficulties, and specification changes—factors that proper legal review can identify and mitigate through appropriate contractual protections.

For investors considering rental income potential, Campo de Ourique attracts medium-to-long-term tenants including families, professionals, and expatriates, typically generating more stable rental relationships than short-term tourist accommodation. However, investors should consult with English-speaking accountants regarding tax implications of rental income, including IRS income tax rates (up to 48% for non-residents without tax treaty benefits) and the availability of tax optimization structures for property holding and rental operations.

Looking Ahead

The successful early sales performance of Jardim de Ourique reinforces the continued appeal of quality residential developments in established Lisbon neighborhoods. As the city's residential market matures, projects offering distinctive amenities and lifestyle features appear positioned to maintain differentiated market performance compared to conventional apartment offerings.

For foreign investors and end-users seeking residential opportunities in central Lisbon, developments in neighborhoods like Campo de Ourique offer combination of established infrastructure, community character, and modern housing that appeals to diverse buyer profiles. For expert guidance on navigating Lisbon's residential market and identifying opportunities aligned with specific investment objectives, contact realestate-lisbon.com.