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Development land – Faro, Portugal

1,170,000 €
£1,064,000
  • Land area
    3,874 m²
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Magnificent plot with views to the sea and the Ria de Alvor, located in the prestigious Palmares Beach & Golf Resort development in Lagos, with 2.687 m² and possibility to build a 3 bedroom villa with 340 m² (excluding terraces, balconies, garage or storage room). Palmares Beach & Golf Resort is a development inspired by the philosophy of good living, within an integrated resort of golf, luxury tourism and residential properties supported by 5-star hotel services in an exclusive location. Bordering the estuary of 'Ria de Alvor' and the end of 'Meia Praia' beach, Palmares Resort offers one of the last opportunities in Portugal to build property at a resort within walking distance to the beach. By its location and natural environment, the resort provides an experience of dynamic views. The natural shape of the land is that of an amphitheatre, descending from 70m to sea level, from where you enjoy 180-degree panoramic views. These views take in the estuary, the ocean and the bay of Lagos, in front of which is set the magnificent 27-holes golf course designed by Robert Trent Jones II, the renowned American golf architect. The water and sky create stunning shades of blue and green which change according to the tides of the estuary. Boats, kite-surfers and an immense variety of birds complement this celebration of nature. The planning, construction and operating principles of Palmares are in harmony with the overriding principle of environmental sustainability. Of the total 191 hectares (471 acres) that comprise Palmares Beach & Golf Resort, the density of construction is no more than 5.7 percent. Likewise, the landscape architecture guidelines are focused on preserving the natural environment and safeguarding the unique views.'Alameda Palmares' and 'Via Panorâmica' are the prime locations where the first villas on the resort are being built. The plots benefit from multiple views in different directions; eastwards to 'Ria de Alvor' and west to Lagos bay, and some are golf frontline plots. The land's typography – the shape is that of a large natural amphitheatre descending towards the ocean — is the main element which creates the spectacular views. The masterplan for the resort was made carefully, considering the area's natural beauty: total construction density is just 5.7%; neighbouring plots are positioned to protect ocean views; strict height limits on all plots: 81% of buildings have just 2 floors, while the remaining 19% have 3 floors; strict construction parameters to protect the sea views. Palmares has developed a blue print where clients can choose from different pre-agreed architecture styles. This means that the Resort coordinates the architectural elements and ensures the right balance between individualism and uniformity. This approach helps to preserve and increase the value of the resort. Our architects have different ideas, but they all share our vision for the resort. The teams involved will develop your project reflecting your own preferences, within the resort specifications. Property features: Average plot size 3,430 m² (36.920 ft²); detached villas; construction areas from 340 m² to 500 m² (3.660 ft² to 5.380 ft²) — not including terraces, balconies, garage or storage rooms; 1,2 or 3 floors plus basement; Design styles: V3 (3-bedrooms), V4 (4-bedrooms) and V5 (5-bedrooms); large outdoor areas for garden and pool.

Extra opportunities

We can help you get a Golden Visa (permit without tax residence) when buying a property worth €500,000 or more.

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

You can see more development land for sale in Faro elsewhere on our website.

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      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.

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