St. Julians, Malta
Dragonara Business Centre, Office 506, Dragonara Road,
Paceville, St Julian’s, STJ 3141 Malta
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Vienna, Austria
Doblhoffgasse 9, 1010
+43 (650) 540-49-79
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Main / Property / Португалия /

Apartments in the hotel of the thermal spa resort

Portugal, Algarve
ID PRT54187
Object sold
Apartments in the hotel of the thermal spa resort
from €280,000

from 38 m² • from €2,288 m²

Portugal, Algarve
from 38 m²
1 bed
1–2 bathrooms
ID PRT54187

Cost

Property cost €280,000 – €350,000
Price for m2 €2,288 – €7,368
Purchase taxes IMT - 6,5%; IMI - 0,3-0,8%
State fees 0,8%
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Distances

19km to the ocean
79km to the airport
Infrastructure within a radius 200m

Description

The project is represented by a resort spa complex in the Algarve, which is located in the Serra de Monchique natural reserve. This hotel complex is famous for its thermal springs, which were once in great demand among the ancient Romans. The complex consists of 4 hotels, which are located in the buildings of the 19th century.

There are 1-bedroom apartments ranging from 38 to 62 sqm from €280,000 and 1-bedroom penthouses from 49 to 153 sqm costing from €310,000 to €350,000 in a 4-storey building of the complex. Reconstruction of the building will start in November 2022 and will be finished in summer 2023.

Property management contract will be for a period of 5 years with the possibility of extension with a guaranteed annual return of 3% to 4%. The owner has the opportunity to spend 15 days per year in the apartment between October and the end of June. Also, the owner of the apartment is provided with a credit of €1,500 for use in any hotel of this chain.

Income payment starts 1 year after purchase.

Reconstruction of the entire complex will be carried out for about 5 years, the hotel will not interrupt its work. Each building is planned to be renovated.

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Real estate

Object type Hotel complex, Apartments, Penthouse
Object category Reconstruction
Object stage Construction
Permits On hand
Construction start date November 2022
Object completion date summer 2023
Design features Ownership
Possibility of stay 15 days a year
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Characteristics

Total area 38 m² – 153 m²
Number of storeys 4
Floor 1, 2, 3, 4
Bedrooms 1
Baths 1–2
Parking type
Number of parking spaces
View forest
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Equipment

Properties

Balcony
Public pool
Concierge desk
SPA
Garden on the plot
Security
Internet
TV

Location

Object sold
from €280,000

from 38 m² • from €2,288 m²

Zlata Erlach investment
programs expert
Portugal Golden Visa

Real estate is eligible for participation in the program and obtaining a residence permit in Portugal.

Immigrant Invest is the official representative of the program.

€250,000+ Investment amount
2-6 months Obtaining period
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Let’s discuss the details

Schedule a meeting at one of the offices or online. A lawyer will analyze the situation, calculate the cost and help you find a solution based on your goals.

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