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Cerro Grande is a tourist development located next to the Marina and the harbor of Albufeira, in the Cerro da Piedade and near the hermitage of Nossa Senhora da Orada
Albufeira, Faro, Portugal
REF: 429202
€17,500,000
Description
Cerro Grande is a tourist development located next to the Marina and the harbor of Albufeira, in the Cerro da Piedade and near the hermitage of Nossa Senhora da Orada. This resort, so to say is composed by 3 elements which extend over an area of approximately 6.5 ha still unfinished. The construction permit must be renewed because it has expired already in 2012. It includes a 5-star hotel unit, set in a plot of 12,120 sqm and with a construction index of around 68%. The Hotel is structured in 111 rooms distributed over 6 floors, SPA, Conference Center, restaurants and shops, with a deployment area of 3,390 sqm and a Gross Construction Area of 13,557.77 sqm. In a land with 31.702 sqm, is located a tourist village with 50 townhouses, of which 24 are type V2 and 26 type V3. They are only 28% finished, but represent 11,314 sqm of Gross Construction Area (GCA), overall and after the finishing of the work, and there is also the Club House with 662 q. m of GCA. The third component corresponds to the Sports Center, still under design, on a plot of 21,095 sqm Its planned GCA is 3,180 sqm in a deployment area of 1,500 sqm.
Cerro Grande is a tourist development located next to the Marina and the harbor of Albufeira, in the Cerro da Piedade and near the hermitage of Nossa Senhora da Orada. This resort, so to say is composed by 3 elements which extend over an area of approximately 6.5 ha still unfinished. The construction permit must be renewed because it has expired already in 2012. It includes a 5-star hotel unit, set in a plot of 12,120 sqm and with a construction index of around 68%. The Hotel is structured in 111 rooms distributed over 6 floors, SPA, Conference Center, restaurants and shops, with a deployment area of 3,390 sqm and a Gross Construction Area of 13,557.77 sqm. In a land with 31.702 sqm, is located a tourist village with 50 townhouses, of which 24 are type V2 and 26 type V3. They are only 28% finished, but represent 11,314 sqm of Gross Construction Area (GCA), overall and after the finishing of the work, and there is also the Club House with 662 q. m of GCA. The third component corresponds to the Sports Center, still under design, on a plot of 21,095 sqm Its planned GCA is 3,180 sqm in a deployment area of 1,500 sqm.
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Currency Exchange
Albufeira, Faro, Portugal
Interested in this property? Don't lose out to currency fluctuations changing the price you pay...
Many overseas buyers in Portugal do not realise they can lose thousands of pounds through adverse currency exchange rate movements.
The property buying process in Portugal takes time; it could be up to six months between seeing the property of your dreams and actually taking ownership. So how much would this €17,500,000 property cost you?
| Property Price € | Minimum cost in the last six months | Maximum cost in the last six months | Fluctuating exchange rates over the last six months could have increased the cost of this property by |
|---|---|---|---|
| €17,500,000 | £14,495,425 | £15,040,375 | £544,950 |
| Property Price € | €17,500,000 |
| Minimum cost in the last six months | £14,495,425 |
| Maximum cost in the last six months | £15,040,375 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £544,950 |
Albufeira, Faro, Portugal
Interested in this property? Don't lose out to currency fluctuations changing the price you pay...
Many overseas buyers in Portugal do not realise they can lose thousands of pounds through adverse currency exchange rate movements.
The property buying process in Portugal takes time; it could be up to six months between seeing the property of your dreams and actually taking ownership. So how much would this €17,500,000 property cost you?
| Property Price € | Minimum cost in the last six months | Maximum cost in the last six months | Fluctuating exchange rates over the last six months could have increased the cost of this property by |
|---|---|---|---|
| €17,500,000 | £14,495,425 | £15,040,375 | £544,950 |
| Property Price € | €17,500,000 |
| Minimum cost in the last six months | £14,495,425 |
| Maximum cost in the last six months | £15,040,375 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £544,950 |
The exchange rate on the day you make an offer on your property in Portugal will not be the same as the rate you pay when you complete on your purchase, as currency markets move constantly. Any large rate movements may take it beyond your price range as the chart above illustrates the fluctuation and how much extra your property could have cost you.
The best way to avoid this significant risk is to plan your budget and currency strategy with an experienced currency specialist. They have been known to save you up to 4% compared to many high street banks, £4,000 for every £100,000, which soon adds up. They will also keep you up to date on market movements, help you set a rate in advance with a product called a Forward Contract - so you know exactly what you will pay for your property in sterling.
This is why we recommend Smart Currency Exchange Ltd. If exchange rate movements continue to be as unpredictable and as significant as they have been in the past then by not using Smart Currency Exchange Ltd your property could cost you £544,950 more.
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