The real estate developer Invego will build a villa district in southern Portugal, in the vicinity of the historic capital of Silves, which is rich in picturesque hills and stunning natural scenery. The total cost of the project will be 120 million euros – informed the CEO of Invego Kristjan-Thor Vähi.
The preparatory works of the project named “Silves Hills” lasted more than three years, the public sale started in the summer and the construction of the infrastructure is planned to start within 4-6 months. The first two phases of the project will be completed in the second half of 2026. “Our team has excellent sales knowledge both locally and internationally, and more importantly for a project of this scale, we have strong support from the local municipality,” confirms Kristjan-Thor Vähi.
All villas are designed and will be built for year-round living, so they will have both cooling and heating systems. Each villa will have its own spacious terrace and private heated swimming pool. “In the first round of sales, the three-room villa can be bought for less than 500,000 euros, the most expensive villas cost just less than a million,” says Kristjan-Thor Vähi, noting separately that European Union citizens in Portugal have a comfortable credit environment – with a down payment of 20%, the bank interest rate is only 0.75% plus Euribor. “We have done a good preparation and we will help people with all the necessary procedures,” continues Kristjan-Thor Vähi.
The architectural solutions of the complex will provide all future villa residents not only with a beautiful environment, but also with a high degree of privacy. The area will be well-appointed, offering residents a recreation club with a restaurant and a gym, a large swimming pool, tennis and padel courts, as well as beach tennis and beach volleyball.
“The famous Algarve resort region, located in the south of Portugal, has a warm and dry climate all year round, which makes it a wonderful holiday destination, especially in winter,” says Kristjan-Thor Vähi, adding that the “Silves Hills” development, which is built on the slopes of the Silves mountains, is located only two kilometers from the Silves, 15 minutes drive from the beautiful sandy beaches and 40 minutes from Faro airport. “”Silves Hills” will be a quiet place surrounded by wonderful nature, away from the noise of the city and the big roads. A place to feel the joy of life and get a boost of energy. I think that the interest in this project will be particularly high from the Nordic and Baltic countries, but not only, because there are already the first serious interested parties from Great Britain and even the USA. Currently, the first 12 villas have already been sold,” says Kristjan-Thor Vähi.