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Development land – Faro, Portugal

990,000 €
£831,000
  • Land area
    4,578 m²
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This 4,578 m² plot of land has building permission for a 4-bedroom villa with 420 m² and enjoys magnificent views over the beach and Alvor Estuary. The swimming pool, basement, and terrace areas are not included in these 420 m² In this amazing resort, bordering the Alvor Estuary and the Lagos Bay, we find ourselves surrounded by a myriad of fascinating landscapes, fauna, and flora, against a backdrop of blue, green, and golden waters, in an ever-changing scenery according to the tides. Palmares is undoubtedly one of the last opportunities in Portugal to invest and build a dream villa within a short distance to the beach, and an ambiance of golf, beach, and luxury tourism. This fascinating resort boasts a magnificent 27-hole golf course designed by Robert Trent Jones II, the famous American golf course architect, and has been seven times awarded the best golf course in Portugal. The planning, construction, and operation principles of this 5-star tourist development are in harmony with the overriding principle of environmental sustainability – its construction density does not exceed 5.7% of the 191 hectares in total. The resort master plan was carefully prepared having in account the natural beauty of the area, with all plots positioned in such a way to preserve the sea and/or estuary views. Building height limits are also restricted on all plots, and strict construction parameters are in force so that all units, without exception, enjoy sea views. The residents of this unique resort enjoy the services of a 5-star Boutique Hotel, and of a magnificent Clubhouse. The construction of a state-of-the-art hotel with 152 rooms will begin very soon. Do not miss this opportunity and call us for a visit. The information provided is not binding and does not dispense the consultation of the property's documentation.

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 development land for sale in Portugal.

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

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    Inna Shchukina
    Inna Shchukina,
    Senior property selection advisor
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      Ekaterina Maslova
      Ekaterina Maslova,
      Senior Residence and Citizenship Advisor
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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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