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Apartment – Faro, Portugal

700,000 €
7,216 € /m²
£593,000
£6,113 /m²
  • Total area
    97 m²
  • Land area
    119 m²
  • Bedrooms
    2
  • Bathrooms
    2
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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
  • Balcony or terrace
  • Garden
  • Car parks

1+1 Bedroom apartment fully equipped and furnished in Luxury Resort with swimming pool and garden, ready to inhabit/ turnkey. All apartments have sea or estuary views, which can be enjoyed from individual private terraces. Embracing the colors and textures of the natural environment, the one, two and three bedroom apartments are fully furnished and equipped by an interior designer and prepared for rent with all the necessary furniture, utensils and equipment. Set in a block of 37 apartments with 24-hour security, all units have a standard layout with 1 or 2 bedrooms plus 1 or 2 additional spaces that can be used as extra rooms. All units have 2 parking spaces + storage room. The information referred to is not binding and does not require consultation of the property documentation. Kitchens — Designed with waterproof lacquered satin finish. — Kitchen countertop and backsplash in 'Silestone' — Stainless steel sink with brushed nickel mixer tap. — Integrated'AEG' devices: — Refrigerator combined — Extractor with carbon filter — Electric oven — Induction plate and microwave — Dishwasher — Independent washing/dryer in separate area. BATHROOMS — Bench and washbasin built in Silestone with countertop with satin lacquered finish. — Wall shower system with a rsostatic mixer. — Porcelain shower walls and shower base in Natural Stone. — Wall-mounted toilet with soft-close cover and double flush plate. — Pre-installation of washer/ dryer. ELECTRICAL ACCESSORIES AND AIR CONDITIONING — LED lighting system for indoor and outdoor. — Electric blackout blinds and blinds. — USB chargers. — Class B energy certification. — Parking space equipped with 3.7 kVA single-phase socket for charging electric vehicles (1 per apartment). — Integrated thermal energy production system. — Production of thermal energy by means of a heat pump for Air conditioning and heating systems. — Hot water heating with storage tank.

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

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

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    Inna Shchukina
    Inna Shchukina,
    Senior property selection advisor
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    Safe haven: Portuguese residency by investment
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      Ekaterina Maslova
      Ekaterina Maslova,
      Senior Residence and Citizenship Advisor
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      Properties for residence permit

      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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        Head of Sales
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