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Villa – Lagos, Faro, Portugal

595,000 €
£510,000
  • Total area
    1,050 m²
  • Land area
    1,050 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: 5
  • Balcony or terrace
  • Furnished
  • Swimming pool
  • Garden
  • Car parks

A charming and traditional five bedroom villa for sale in Lagos, located in a prime spot within the historic centre, this property is in a quiet area just minutes away from all the amenities of everyday life. Built over two floors including a basement, this fantastic villa is south facing and consists of an entrance hall, a large living room and two bedrooms with built-in wardrobes, all with direct access to the pool area. One of the bedrooms comes with its own en-suite bathroom and there are an additional two bathrooms on this floor. You will also find a fully equipped kitchen, a laundry room and a pantry. On the first floor, which can be separated if desired, there is a second living room with an open-plan kitchen, a terrace including a barbecue area, two bedrooms, one of which has an en-suite bathroom and two more bathrooms. Access to this first floor can either be through the inside staircase or if you wish to rent it out, through an external staircase that has access to the terrace. The basement spans the entire length of this property and is composed of several rooms, all of which are very large and spacious. There is also a bathroom making this space ideal for creating a gym, for example. Outside you have two closed and separate garages, one has been transformed into a guest room with an en-suite bathroom. On the side of the house there is also a huge parking space which is accessed by a gate, thus leaving the cars protected. Furthermore you will find a nice swimming pool, a huge terrace and a barbecue area, all great for entertaining friends and family. This villa offers multiple advantages and is ideal for big families or holiday rentals especially if you are looking to generate an extra income. Located just ten minutes walk from the beautiful marina and everything that Lagos has to offer, this is an ideal property from which to take full advantage of this lovely area. Lagos is a town in the Western Algarve, 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 sandy coves of Dona Ana and Praia do Camilo. The cliff tops of Ponta da Piedade provide a stunning view to the sea and surrounding natural beauty. The centre of town is home to many historic landmarks, including the 18th century church of St. Antonio, castle walls and the Castelo dos Governadores, one of the town’s oldest features. Mortgage simulation: Term/ Period — 30 years/,360 months Purchase Price — 595,000€ Deposit/ Down Payment — 119,000€ Finance Amount — 476,000€ Interest Rate — 0.9% Monthly Payments — 1509.24 € Mortgage simulation: Term/ Period — 40 years/,480 months Purchase Price — 595,000€

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,
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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

      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.

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