We are seeking off-market residential investment opportunities in Lisbon, either a building with approved planning for residential development or apartments with clear renovation potential. Preferred assets support studios and T1 to T3 units, with strong layouts and, ideally, high ceilings and architectural or historical character. Target areas include Lapa, Santos, Estrela, Anjos, Alcântara, Belém, and Saldanha. Budget for development projects is EUR 2.0 to 3.5M. Renovation opportunities may include individual apartments or small residential assets with value-add potential.