Invego Builds 154 Villas in Southern Portugal for 120 Million
Estonian real estate developer Invego is building a residential and leisure district with 154 villas on scenic hillsides with natural beautiful views in the immediate vicinity of Silves, the historical capital of southern Portugal, for a total of 100 million euros, announced the company's CEO Kristjan-Thor Vähi.
The preparations for the project bearing the name Silves Hills have been ongoing for over two years, public sales will begin in the second half of June, infrastructure development will start at the end of this year, and the project's first two phases will be completed in the second half of 2026. "We have such strong local market and international sales know-how in our team and – which may be the most important thing in a project of this scale – we also have very strong support from the local municipality," confirmed Invego's CEO Vähi.
All villas have a private pool and are designed and built for year-round use with both cooling and heating systems. The villas are fully furnished and each villa has its own spacious terrace and heated pool. "The most affordable three-bedroom villa can be purchased in the first sales period for less than half a million euros, the most expensive prices will initially remain slightly below one million euros," says Kristjan-Thor Vähi and is ready to offer additional discounts to the first Estonian interested buyers. "Before the start of public sales, we can also avoid brokerage fees and offer Estonian buyers an even better price accordingly," explains Vähi and also points out that EU citizens have a convenient lending environment in Portugal, where with only a fifth of the amount as a down payment, bank interest is 0.75% plus euribor. "The homework has been done and we can certainly help people with all the necessary administrative matters," confirmed Vähi.
The solution created by architects ensures that all villas have both beautiful views and sufficient privacy. The residential area is enhanced by a club building intended for all residents, a large pool, tennis, beach tennis, and padel courts. "The climate of southern Portugal's famous Algarve holiday region is warm and dry year-round, making it a valued destination throughout the entire winter period," says Vähi and adds that the naturally beautiful slopes of Silves Hills are located just two kilometers from the town center, a quarter hour's drive away from beautiful sandy beaches and 40 minutes from Faro airport. "Silves Hills will be a quiet and naturally beautiful place free from city and road noise for enjoying the joys of life and recharging your batteries. I believe there will be greater interest both in Northern and Baltic countries, but already now there are the first serious interested parties from both the United Kingdom and even the United States," describes Vähi.
Invego is one of Estonia's leading real estate development companies, which in recent years has built over 1,250 homes and 25,000 m2 of commercial space in Tallinn and its vicinity. In Estonia, Invego's most extensive developments are the recently completed Tiskreoja and Tabasalu Kodu residential areas and the currently ongoing Luccaranna, Uus-Järveküla, and Keila Pargikodu residential districts. In Latvia's capital, the company is developing residential quarters at Parka Kvartals and Skanstes Residences and a row house residential area Vide Adaži in the immediate vicinity of Riga.
