About
Built Between Warsaw and Lisbon
The Story
Na Luz de Portugal was founded by Radek Kotarski, a Polish entrepreneur who fell in love with Portugal the way most people do. Slowly, then all at once. After years of buying and renovating properties for himself and close friends, the informal network outgrew the kitchen table. A proper company was inevitable.
Na Luz de Portugal Unipessoal Lda is a Portuguese limited company, part of the Kashmir Limited group headquartered in Larnaca, Cyprus. The Kashmir group also owns publishing, distribution and media companies across five European markets. The cross-border discipline matters: we operate with the reporting standards of an institutional investor, and the responsiveness of a family office.
On the ground in Lisbon, Natalia coordinates day-to-day operations. She speaks fluent Portuguese, navigates the Câmara Municipal without flinching, and has opinions about tile suppliers. Between Warsaw, Lisbon and Larnaca, we built a team that is small on purpose.
Why Portugal
300 days of sun. Stable EU legal framework. Three of the best-performing rental markets in southern Europe. A capital that every year sits near the top of the global liveability indices. For Northern Europeans who spent the last decade squinting through November, the appeal is not subtle.
The market has changed. The Golden Visa real-estate route closed in late 2023, the NHR regime was reformed in 2024, and short-term rental licences are now issued under tighter rules. The easy-money phase ended. The interesting phase began.
Prices have softened in the secondary market, speculative buyers have largely withdrawn, and inventory has expanded. This is the moment when discipline, local knowledge, and a patient buyer can assemble a portfolio that was not possible three years ago. Post-Golden Visa Portugal rewards owners who actually use, rent, and care for their properties. That is precisely who we serve.
Values
Personal attention
Every owner has a named contact. That contact replies in hours, not days. No call centres, no ticket numbers, no escalation chains.
No mass market
We cap our portfolio at 150 properties. Beyond that, quality degrades and the founder stops recognising the guests. We would rather decline a mandate than dilute the service.
Transparency
Monthly statements with every euro accounted for. Supplier invoices passed through at cost. No hidden margins, no referral fees you do not know about.
Boutique scale
A team of six, built to stay that size. Each person carries real responsibility and knows every property we manage by name.
The Team
Radek Kotarski, Founder
Based between Warsaw and Lisbon. Sets strategy, underwrites every acquisition, and replies to owner emails himself when the subject line demands it.
Natalia, Country Coordinator
Lisbon-based. Fluent Portuguese, Polish and English. Runs operations, supplier relationships, guest arrivals. If a boiler fails on a Sunday, she is the reason it is fixed by Monday.
Acquisition & Legal
Portuguese solicitor on retainer, independent notary network, chartered surveyor for structural reports. Full due-diligence coverage before you sign anything.
Design & Works
Lisbon architect studio and a vetted contractor network covering the full country. We do not self-build. We do project-manage.
Guest Operations
Multilingual concierge handling check-ins, guest support, housekeeping oversight, and the small disasters that define hospitality. EN, PT, PL and ES on call.
A holding company discipline, a boutique service standard, and a founder who still remembers the name of the tile supplier in Sintra. That is the combination we are built on.