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Plot of land in Quarteira (next to the Continente)
Loulé, Faro, Portugal
REF: 568619
€3,800,000
Description
Located at the main entrance to Quarteira, in a tourist area par excellence, between Vilamoura and Quinta doLago, 10 minutes from Faro airport, next to the most beautiful beaches and golf courses in the Algarve. It is a plot that allows the development of a hotel. This plot has an area of 1,230.99 m2 and allows the construction, on six floors plus basement, of 6,673.60 m2 of construction, providing a maximum number of accommodation units of 140 with the 4-star category. It is part of the Quarteira Norte Nordeste Urbanization Plan and the adjacent lands allow thedevelopment of any project or type of investment. The Lot is identified as Lot 2, has 1,230m2 of implantation and provides for 6,673.60 m2 of construction area in 6 Floors + Basement. The Subdivision foresees that it is for a Hotel Establishment, however the area allows housing (requires an addition to the Permit).
Located at the main entrance to Quarteira, in a tourist area par excellence, between Vilamoura and Quinta doLago, 10 minutes from Faro airport, next to the most beautiful beaches and golf courses in the Algarve. It is a plot that allows the development of a hotel. This plot has an area of 1,230.99 m2 and allows the construction, on six floors plus basement, of 6,673.60 m2 of construction, providing a maximum number of accommodation units of 140 with the 4-star category. It is part of the Quarteira Norte Nordeste Urbanization Plan and the adjacent lands allow thedevelopment of any project or type of investment. The Lot is identified as Lot 2, has 1,230m2 of implantation and provides for 6,673.60 m2 of construction area in 6 Floors + Basement. The Subdivision foresees that it is for a Hotel Establishment, however the area allows housing (requires an addition to the Permit).
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Currency Exchange
Loulé, 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 €3,800,000 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 |
|---|---|---|---|
| €3,800,000 | £3,147,578 | £3,265,910 | £118,332 |
| Property Price € | €3,800,000 |
| Minimum cost in the last six months | £3,147,578 |
| Maximum cost in the last six months | £3,265,910 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £118,332 |
Loulé, 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 €3,800,000 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 |
|---|---|---|---|
| €3,800,000 | £3,147,578 | £3,265,910 | £118,332 |
| Property Price € | €3,800,000 |
| Minimum cost in the last six months | £3,147,578 |
| Maximum cost in the last six months | £3,265,910 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £118,332 |
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 £118,332 more.
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