All photos

Villa – Faro (city), Faro, Portugal

560,000 €
£479,000
  • Total area
    2,416 m²
  • Land area
    2,416 m²
  • Bathrooms
    5
Check availability of the property
Send the listing to yourself
  • Icon

    Price per sqm increase 7.28% over 2020*

  • Icon

    Location with high rental demand

  • Icon

    Residence permit for the entire investor's family

  • Icon

    The opportunity to acquire Portuguese citizenship

*According to globalpropertyguide.com

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: 4
  • Balcony or terrace
  • Furnished
  • Swimming pool
  • Garden
  • Car parks

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€

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.

Request details
  • Property on the map
    Location right down to the building, street or city
  • Other properties
    Other offers nearby
Learn more about this property
Ask the Destination Manager your questions
Learn more
    I confirm that I have read and accept the Privacy Policy and Personal Data Processing Guidelines.
    Inna Shchukina
    Inna Shchukina,
    Senior property selection advisor
    Learn more

    Similar listings

    We select ads that may interest you.

    Safe haven: Portuguese residency by investment
    Learn more on Portugal's residence-by-investment programme
    Ask a question
      I confirm that I have read and accept the Privacy Policy and Personal Data Processing Guidelines.
      Ekaterina Maslova
      Ekaterina Maslova,
      Senior Residence and Citizenship Advisor
      Ask a question

      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.

      • 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.

      Not sure what to start with? Send an advice request
      Our expert will contact you to help with selecting real estate.
      Ask a question
        I confirm that I have read and accept the Privacy Policy and Personal Data Processing Guidelines.
        Andrei Burak,
        investment specialist
        Send a request