Bom Sucesso Resort, a holiday community at the Óbidos Lagoon in Portugal, was designed by 23 contemporary architects, including three Pritzker Prize winners. The resort has gone through many changes: after very ambitious plans launched in 2004 and a bankruptcy in 2014, development progressed slowly for several years.
After the bankruptcy of Bom Sucesso Resort in 2014 it was reported (here) that 350 buildings were built, and 80 houses were under construction, but many of them were being stopped.
More than 11 years after the collapse of the project, this is a good moment to review the current situation of the resort. This 2026 analysis examines the current state of development at Bom Sucesso Resort, focusing primarily on the progress of villa construction, while also providing a brief overview of the two unfinished sub-condominiums and the stalled hotel project at the beginning.
Construction Progress at Bom Sucesso Resort’s Villas and Townhouses
In total, 601 villa and townhouse units were planned for the resort, comprising 271 townhouses and 330 villas. The chart below shows the current status of these buildings in January 2026.
What immediately stands out is the high number of unfinished villas, which will be explained in more detail below. Let’s start with the sub-condominiums.
Two Unfinished Sub-Condominiums at Bom Sucesso Resort
The sub-condominiums at Bom Sucesso Resort are mostly known as terrace, row or townhouses. They usually share gardens and a swimming pool. In total, there are 14 planned sub-condominium projects.
12 sub-condominiums are finished, in total 229 units (T1-T3) at Bom Sucesso Resort.
Two of the sub-condominiums remain unfinished. The two represent 42 unbuilt townhouse units (T2–T3), which equals 15% of the total townhouse capacity at Bom Sucesso Resort.
Lot 288 (Rua Bela), 26 unfinished Townhouses by Alcino Soutinho are located at the top of Phase 2 and have excellent views over the lagoon. The project is owned by Abanca Bank. Construction has stopped for 13 years, and there is no visible progress.
Lot 313 (Rua da Lagoa), 16 Unfinished Townhouses by Gonçalo Byrne often called “The Fingers”, is owned by Sintonizavalor Soc. Imobiliária Lda, a company linked to the R. Solis group. This project is also completely halted.
These two unfinished blocks strongly affect the image of Phase 2 of Bom Sucesso Resort. They harm the commercial reputation of the resort and remain a clear reminder of the 2014 collapse.
Stalled Hotel Project at Bom Sucesso Resort
Lot 159 Avenida do Hotel 2, the unfinished hotel designed by Eduardo Souto de Moura was originally planned as a Hilton with 120 rooms. Construction stopped in 2014 and has never restarted.
Since the bankruptcy, the hotel has changed ownership twice. At the 2024 Condominium AGM, the latest owner presented plans to restart construction in 2025.
However, at the beginning of 2026, no construction work has started. There has been no official update to the community, and the site remains inactive.
Villas at Bom Sucesso Resort 2026
This section looks at villa development – single houses with private garden, across the resort. I compare January 2026 with data collected in January 2024. This data was compiled mainly through manual counting of buildings.
Finished Villas Crossing the 50% Milestone
For the first time in the history of Bom Sucesso Resort, more than half of the planned villas are completed. As of January 2026, 53% (175) of all villas are finished. This is an important milestone for the community and the long-term vision of the resort.
Villa Status – January 2026
- Finished Villas: 175 (53%)
- Villas in progress: 7 (4 built from scratch)
- Stopped Villas (ruins): 12
- Empty Villa plots: 138
Bom Sucesso Villa Progress since 2024
The last two years show good movement in villa development.
Since 2024, twelve villas have been completed. Four of these villas
have been built from scratch in Phase 2 of Bom Sucesso Resort. Some stalled projects that have been finished too, for example, the well-known Eduardo Souto de Moura‘s Red Villas by the lake.
Since 2024, five villa constructions have started on previously empty villa plots.
Overall, the direction is positive. The original architectural vision of the resort is slowly evolving.
43% of empty Villa plots are owned by two.
The future of Bom Sucesso Resort depends heavily on two land owners. Out of 138 empty villa plots, 43% (60 plots) are owned by just two groups:
- Abanca Bank: 32 Villa plots + 26 unfinished townhouses
- R. Solis related entities: 28 Villa plots + 16 unfinished townhouses
These large “land banks” are a big unknown factor in the resort’s villa development. For Bom Sucesso to reach its full architectural and urban potential, these plots must be developed.
A Generational Shift at Bom Sucesso Resort
By comparing voting lists from the 2022/23 and September 2025 condominium AGM, a clear change becomes visible.
- In total, 116 properties across the resort have changed hands
- 67 villa units changed ownership, 20% of all villa units
- This includes 39 finished villas (23% of all finished villas)
- and 24 empty plots (17%) .
- 49 (21%)finished townhouse units have changed ownership.
A Generational Shift: Approximately 21% of the Bom Sucesso community is new, based on 88 ownership changes among a total of 402 finished houses. And there is optimism that several of the 24 new plot owners will begin construction in the near future.
Analyzing Offered Villas, Townhouses and Plots at Bom Sucesso on the Market (Idealista)
By analysing public listings on Idealista, we can compare the number of properties advertised in January 2026 and January 2024. The data shows a clear reduction in supply from 81 to 52 villas, plots, townhouse and commercial units at Bom Sucesso Resort.
In January 2026, 43% fewer finished villas are on the market compared to the same time two years earlier. 28 decreased to 16 finished villas on the market.
Empty villa plots have also declined from 33 to 23, with around 30% fewer plots advertised.
Two years ago, 9 stopped Villas were on the market. Today, there are only 2.
In contrast, the number of townhouse listings remains almost the same as in 2023 – 10 to 9 sub-condos advertised.
Market Observations (Subjective View)
I have not systematically tracked asking prices, but I can share my personal observations from the past two years.
For Townhouses (T1–T3), list prices have clearly increased. In several recent cases, I observed price jumps of up to 30+% in 2 years.
For Villas, current asking prices are now getting back on the levels that early investors paid 15–20 years ago, at the start of Bom Sucesso Resort. The reduced number of villas available on the market is likely helping to stabilize prices.
Regarding Villa plots, it appears that plots priced up to €130,000 and an practical house designs are actively changing owners. 24 sold plots in the last two year suggests that confidence in building from scratch at Bom Sucesso Resort has returned.
Ruins and Stopped Projects, based on conversations with some privat investors, most available stopped or unfinished projects are priced relatively high. In many cases, building new makes more financial sense than completing a stopped project.
Or you could say, the best opportunities for stopped and abandoned houses at Bom Sucesso have already been taken. Two years ago, 9 stopped properties were on the market. Today, there are only 2. The few remaining stopped villa projects have already been evaluated by many interested people.
Conclusion: Bom Sucesso Resort Development Analysis 2026
This analysis shows that Bom Sucesso Resort is moving forward again, even if some problems from the past remain.
The most positive sign is villa development. With 53% (175) of villas completed, the resort has passed the halfway point for the first time.
Since the bankruptcy in 2014, stopped villas got finished and especially in the last two years new building construction activity has increased. Confidence in building from scratch at Bom Sucesso Resort has returned.
Ownership changes indicate the arrival of a new generation of private investors at Bom Sucesso Resort: approximately 21% of the current community has joined within the last two to three years.
Including 24 new plot owners who may build in the coming years.
At the same time, the two unfinished sub-condominiums and the stalled hotel remain weak points. They still affect the image and completeness of the resort.
My personal view is that the focus should be on finishing villas first, rather than waiting for the hotel. When streets are filled with completed houses and life is visible from the golf course, a hotel will follow naturally.
The biggest uncertainty remains due to a strong concentration of plot ownership. 43% (60) of empty villa plots and two sub-condominiums with 42 unfinished town houses are owned by just two entities. Their decisions will strongly influence how fast the resort will be finished.
It should also be criticized that within the condominium no penalties are enforced for owners who do not build their projects, although this was initially planned and is considered best practice for resorts.
From a market point of view, fewer listings, rising townhouse prices, stable villa prices, and active plot sales all point to a healthier and more stable phase of Bom Sucesso Resort.
In summary: Bom Sucesso Resort is no longer frozen, not yet finished—but clearly moving in the right direction.
Thank you!
Ben – Private owner at Bom Sucesso Resort since 2022