Apartments in the hotel of the thermal spa resort
Portugal, Algarve
Portugal, Algarve
25 m² — 49 m²
1 Bedrooms
1 Baths
ID PRT54187
€280,000 — €295,000
25 m² • €6,020.41+ m²This property is sold, but we will help you find another one
Elena KozyrevaExpert on real estate and residency after d visas by investment in Portugal
Portugal D7 Visa
6+ monthsNot limitedPortugal does not grant residence permits for investments in real estate under the Golden Visa program.
However, property purchase or rental is obligatory when obtaining a residence permit under a D7 visa.
Learn moreCost
Property cost
€280,000 — €295,000
Price for m²
€6,020.41 — €11,200
Purchase taxes
IMT - 6,5%; IMI - 0,3-0,8%
State fees
0,8%
Distances
Ocean 19 km
Infrastructure 200 m
Airport 79 km
Yield and management
Yield
3-4%
Property management
Yes
We will help you sell the object if you decide to exit the investment
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.
Real estate
Object type
Hotel complex, Apartments, Penthouse
Object category
Reconstruction
Object stage
Construction
Permits
Yes
Object completion date
summer 2023
Design features
Ownership
Characteristics
Total area
25 m² — 49 m²
Number of storeys
4
Bedrooms
1
Baths
1
Parking
No
View
Forest
Properties
Balcony
Public pool
Concierge desk
SPA
Garden on the plot
Security
Internet
TV