A traditional Portuguese four bedroom villa for sale in Armação de Pêra, a parish in the municipality of Silves. Located within a quiet residential area, this property is within a closed and private condominium that is home to eight villas in total with this one being the biggest in size. Constructed in a circular design, this villa comprises a reception area, living room, dining room with a feature fireplace, a fitted kitchen, four bedrooms — all of which come with their own en-suite bathrooms — along with a private swimming pool and annex flat. Downstairs there is a large garage which is basically the same size as the home thus providing plenty of storage space if needed, or you could even convert some of the space into an additional room or a home cinema if desired. Additionally, as this property has been built in a circular style, the middle section or courtyard comes with a fountain. From this area there are stairs that will lead you onto the large roof — a great space to soak up the Algarvian sunshine, watch a sunset or even enjoy the ocean views while partaking in some al-fresco dining. Private gardens are well kept and surround the property, the swimming pool is generously sized and at the back of the grounds is where you will find the separate annex. This could potentially be rented out short or long term, with the correct permissions, enabling you to generate an additional income. Spread over 198,70 m², this villa is very spacious and would provide a great base if you are thinking about relocating to the Algarve, purchasing a holiday home or even thinking about making a rental based investment. Silves is one of the oldest towns in central Algarve, with its rich history, built on the banks of the River Arade. The river represented an important historic time, being the main link between the hinterland and the coast. The famous Castle, which is built on top of one of the largest underground aquifers in the Algarve, dates way back to the 12th century, the prime time of Moorish occupation. Rental Simulation Spring (01 April — 31 May) — € 2,000.00 Early Summer (01 – 30 June) — € 2,100.00 Summer (01 July — 15 September) — € 3,000.00 Late Summer (15 – 30 September) — € 2,500.00 Autumn (01 – 31 October) — € 2,100.00 Winter (01 Nov — 31 March) — € 1,500.00 Mortgage simulation: Purchase Price — 560,000€ Purchase Price — 560,000€ Deposit/ Down Payment — 112,000€ (20%) Deposit/ Down Payment — 112,000€ (20%) Finance Amount — 448,000€ Finance Amount — 448,000€ Interest Rate — 0.873% Interest Rate — 0.873% Term/ Period — 30 years/,360 months Term/ Period — 40 years/,480 months Monthly Payments — 1414.96 € Monthly Payments — 1106.09€
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.