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 25 m² • from €6,020 m²
Portugal, Algarve
from 25 m²
1 bed
1 bathroom
ID PRT54187
Cost
| Property cost | €280,000 – €295,000 |
| Price for m2 | €6,020 – €11,200 |
| Purchase taxes | IMT - 6,5%; IMI - 0,3-0,8% |
| State fees | 0,8% |
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Distances
Ocean 19km
Airport 79km
Infrastructure 200m
Yield and management
| Yield | 3—4% |
| Property management | Yes |
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 25 to 49 sqm from €280,000 to €295,000 in a 4-storey building of the complex. Reconstruction of the building started 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 | 25 m² – 49 m² |
| Number of storeys | 4 |
| Bedrooms | 1 |
| Baths | 1 |
| 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 25 m² • from €6,020 m²
This property has been sold but we can help you find another one.
Zlata Erlach investmentprograms 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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