Furnished one-bedroom apartment in a renovated residence with swimming pools, near the beach, Algarve, Portugal

450,000 €

6,818 € /m²

£400,000

£6,060 /m²

Total area
66 m²
Bedrooms
1
Bathrooms
1

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Price per sqm increase 10.3% over 2019
Location with high rental demand
Residence permit for the entire investor's family
The opportunity to acquire Portuguese citizenship

*According to globalpropertyguide.com

Features

Total rooms: 2
4-floor building
1 floor
Built in 2019
Sea at 700 m
Balcony or terrace
Furnished
Golf course
Swimming pool
Garden
Sea view

We offer a beautiful spacious apartment of 66.95 m² with a view of the surroundings and the pool.

The residence is a hotel with 61 luxury flats and features a children's playground, seven golf courses, green areas, swimming pools.

Renovation start — end of 2018

Completion — summer of 2019

Payment

Reservation fee — 10.000 euros
Promissory contracts — 25% less 10.000 euros
Interim payment — 25% (six months after Promissory contracts)
Balance of 50% with keys

Equipment

Ceramic tiles
Beige lacquered kitchen cabinetry
Built-in appliances and a Nespresso machine

Advantages

Guaranteed annual return of 5% for three years.

During the guaranteed time, buyer can use 15 days per year (except the period between the 15th June and 15th September), subject to reservation done two months before and to availability.

Location and nearby infrastructure

The property is located just a five-minute walk from one of the most beautiful beaches in the Algarve.

Property on the map

Location right down to the building, street or city
Other properties

Other offers nearby

More properties

If this property wasn’t for you, take a look at other new homes for sale in Portugal.

You can see more new homes for sale in Faro (city) elsewhere on our website.

Get a residence permit in Portugal with property purchase from 500,000 EUR.

How to buy property with Tranio

Enquiry

Send us an enquiry with an approximate description of the property or investment project you’re interested in.

Meeting the partners

After clarifying your enquiry, we will introduce you to our partners and/or local agents.

Offer selection

We will help you to select suitable options. Tranio does not charge a commission for this — the property price remains the same as if you contacted our partner directly.

Viewing tour

You then view the property or properties you have chosen. Our partners or agents from Tranio's European offices will meet you in situ.

Transaction closure

Having chosen the best property, you will sign the sales or investment agreement (for development).

FAQs

Can I get a mortgage abroad?

It depends on the country. For example, German banks willingly offer mortgages to foreigners at 1.5-2 % per annum with LTV up to 70%. Spain offers less favourable terms: the minimum rate for foreigners is 2.5% per annum. The situation is different in Greece: although the law does not prohibit banks from issuing loans, in practice, Greek banks don’t issue loans to local nor foreign property buyers. You can learn about the mortgage terms in your preferred country by contacting Tranio’s local agents.

How does the purchase procedure work?

The purchase procedure depends on the country where you buy property. Generally, after choosing a property you need to sign a preliminary agreement with the seller and carry out a due diligence of the property by checking the relevant documents and the property's technical condition. After that, all parties sign the sales agreement and the notary registers the transaction. As a rule, the purchase registration costs amount to approximately 10% of the property price.

Can a residence permit be obtained by buying property?

In some countries it is possible. Residence-for-property purchase programmes are known as Golden Visas programmes. Greece, Spain, Latvia, and Portugal offer the most popular Golden Visas in Europe. The Greek residence permit is the cheapest and can be obtained by buying a property worth at least €250,000, while organising all of the documents costs about €19,000. Certain countries offer citizenship to property buyers — for example, an investor can get their hands on a Cypriot passport by buying a property worth at least €2M.

Can I obtain income from a seaside apartment?

Yes. You can use the purchased property yourself for holidays and lease it to tourists for the rest of the time. To avoid the hassle of finding tenants and cleaning the property, it’s a wise idea to hire a management company to do all the work – these services usually cost about 20% of the rent. Take into account the length of the tourist season in the location you choose: in certain regions it will be easy to rent apartments out all year round, while in others it might only be possible to do so during the high season.

How does Tranio make money if your service is free for the clients?

We share the commission, which the buyer or the seller (depending on the country) pays to our partners — foreign real estate agencies. The price of this service is the same as if you contacted the agency directly — this is an important condition and applies to all of our partnership agreements.

Who guarantees the transaction security?

The transaction security is guaranteed by the notary who draws up the sales agreement and checks the information on the previous and current owners of the property, any outstanding restrictions, mortgage, and third-party encumbrances. Tranio is not responsible for the parties involved in the transaction.