Real Estate Industry News

As intriguing locales go, odds are this one is a sure bet.

Author Ian Fleming took his inspiration for the James Bond series from the part of neutral Portugal where he was stationed during World War II.

The British Naval Intelligence officer had an ideal vantage point from his base at the Palacio Estoril Hotel, outside Lisbon, to observe the machinations of espionage networks and the comings and goings of the exiled European royals and Hollywood elite who settled there during the war. Seeking refuge in this posh quarter of the world were the Duke of Windsor, Spanish and Romania royals and actors Greta Garbo, Zsa Zsa Gabor and Leslie Howard, among others.

The hotel adjoined a casino where the future novelist could mix duty and pleasure. One particularly large bet placed by a double agent at the baccarat table would provide the framework for the first Bond volume, Casino Royale. The actual nightclub and surrounds would later appear as shooting locations in the 1969 film, On Her Majesty’s Secret Service.

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The thriving resort town of Estoril, set between the Sintra foothills and the Atlantic Ocean, is part of Cascais, once a quiet fishing village. The air of those early days remains in such neighborhoods as Bairro da Martinha, a sought-after residential area known for its tranquility, natural beauty and upscale residential properties, according to Filipa Melo of Modern, a luxury real estate agency in Portugal.

“It attracts families who appreciate its safe and peaceful environment as well as the presence of reputable international schools. The area also appeals to retirees who seek a relaxed lifestyle and a vibrant social scene,” Melo says. “Estoril has a significant expatriate population, including professionals, entrepreneurs and artists who are drawn to its coastal charm, cultural events and proximity to Lisbon.”

Prestigious Bairro da Martinha is made up mostly of primary residences, with few second, vacation or rental homes. “This neighborhood tends to be more focused on long-term residential living,” she says, “rather than short-term vacation stays.”Melo has listed a 771-square-meter (nearly 8,300-square-foot) villa in the prestigious community for 6.25 million euros or about USD 6.7 million. Called Mocanga House, the granite-coated contemporary was built in the 1970s near the Estoril Golf Club. The property’s 7,099 square meters of grounds (less than a quarter acre) include an artificial lake and mature garden with paths.

The living areas incorporate fine marbles and woods. On the ground level are a living room with a fireplace, kitchen with pantry and wood-ceiling dining room that leads to a porch.

Limestone steps lead to the lower floor, which contains a guest area with bedroom suite, service apartment, wine cellar and several flex-space rooms that can be transformed into a spa, home theater, gym or game room.

Black slate lines several walls of the indoor swimming pool area. Expansive sliding glass doors open to the yard. There are six bedrooms and five bathrooms.

The grounds have a water source that can be utilized to maintain the gardens, lake and pool.

The property could be purchased for personal use or by an investor interested in splitting the plot and building another house, says Melo, who describes the local real estate market as robust and dynamic.

“With limited supply, properties in this area have continually appreciated in value over the past years,” she says. “Residents of Estoril enjoy a high quality of life, with access to amenities, such as picturesque beaches, world-class golf courses, tennis clubs, spas, luxury hotels and a variety of outdoor activities, such as hiking and sailing.”

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