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Villa – Lagos, Faro, Portugal

595,000 €
£504,000
  • Total area
    78 m²
  • Land area
    78 m²
  • Bathrooms
    4
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These residence permit conditions are effective until the end of 2021. Close a deal by the end of November to get all necessary paperwork for a residence permit done in time.

Features
  • Total rooms: 3
  • Balcony or terrace
  • Golf course

A lovely property located in the popular town of Lagos, a place renowned for holidaymakers or people looking for property for sale in the Algarve. Currently undergoing a full renovation with the owner knocking down the previous property and rebuilding to a modern standard, completion is expected towards the end of 2019. Once completed, this villa will be spread across three floors and will be comprised of three bedrooms, four bathrooms, a large open plan living/dining room and a fully equipped, modern kitchen with another dining area. Two bedrooms, both en-suites, will be found on the first floor and one of the bedrooms will offer a walk-in wardrobe where as the other will have a fitted wardrobe. An additional bedroom will be found on the top floor, this will also have an en-suite and a fitted wardrobe. This is where a terrace can be found where you can enjoy the lovely town and sea views of Maia Praia. Located in the centre of Lagos and is just a short 10 minute walk from its marina, along with all this stunning and historical town has to offer. Hugely popular among people of all ages and attracting tourists from all corners of the world. It is well known for its iconic beaches and coves of Dona Ana and Praia do Camilo. Making it a prime location for anyone looking to buy property in Portugal as a rental investment, holiday home, or somewhere to relocate permanently. Lagos town centre is always bustling with activity; from its wonderful fish, fruit & vegetable markets, shops, bars & restaurants, to its numerous cultural events & activities. Lagos maintains its vibrant energy all year round making this town interesting and so much more than just a popular tourist town! It's wonderful award winning beaches and golf courses are only several minutes drive away, and Faro airport only a 60 minute drive.

Extra opportunities

The investor obtains a Portuguese residence permit by purchase of real estate worth at least €500,000. Our team at Tranio will help to make a deal remotely, collect a set of documents, and make an application.

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    Inna Shchukina
    Inna Shchukina,
    Senior property selection advisor
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      Ekaterina Maslova
      Ekaterina Maslova,
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      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

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      Offer selection

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      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.

      • 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.

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