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89 Hectare plot for development of a tourist resort for sale in North Algarve
Silves, Portugal
REF: 593651
€15,000,000
Description
This large plot of land is near the Dam of Funcho, in Silves, has various mountains, lakes, electricity, and fantastic country views. It has viability for construction of a touristic resort, hotel, or other nature tourism type of development. It has various lakes, electricity and great accesses from either the IC1 from Lisbon, Messines or Silves. The current Project is for a hotel with swimming pool, restaurante/bar with terrace, a group of bungalows of various sizes, and a leisure rea along the water for sport activities and leisure, plantation and farming reas for the consumption of the hotel guests. The hotel is in two blocks. One of them has the reception, backoffice, meeting and conference rooms, and 19 suites. The second block, the restaurant, kitchen, Bar, gym, SPA, change rooms, swimming pool, and leisure rea with panoramic views. There is two types of bungalows, both in wooden structure. One group of one bedroom units, with kitchenette, bathroom and one bedroom, with corten steal exterior. The rest are one bedrooms, 1+ mezzaninne, and two bedroom units with a unique roof inclination and balconies. The entire complex has leisure reas, trails, lakes, swimming pool and green reas.
This large plot of land is near the Dam of Funcho, in Silves, has various mountains, lakes, electricity, and fantastic country views. It has viability for construction of a touristic resort, hotel, or other nature tourism type of development. It has various lakes, electricity and great accesses from either the IC1 from Lisbon, Messines or Silves. The current Project is for a hotel with swimming pool, restaurante/bar with terrace, a group of bungalows of various sizes, and a leisure rea along the water for sport activities and leisure, plantation and farming reas for the consumption of the hotel guests. The hotel is in two blocks. One of them has the reception, backoffice, meeting and conference rooms, and 19 suites. The second block, the restaurant, kitchen, Bar, gym, SPA, change rooms, swimming pool, and leisure rea with panoramic views. There is two types of bungalows, both in wooden structure. One group of one bedroom units, with kitchenette, bathroom and one bedroom, with corten steal exterior. The rest are one bedrooms, 1+ mezzaninne, and two bedroom units with a unique roof inclination and balconies. The entire complex has leisure reas, trails, lakes, swimming pool and green reas.
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Currency Exchange
Silves, 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 €15,000,000 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 |
|---|---|---|---|
| €15,000,000 | £12,424,650 | £12,891,750 | £467,100 |
| Property Price € | €15,000,000 |
| Minimum cost in the last six months | £12,424,650 |
| Maximum cost in the last six months | £12,891,750 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £467,100 |
Silves, 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 €15,000,000 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 |
|---|---|---|---|
| €15,000,000 | £12,424,650 | £12,891,750 | £467,100 |
| Property Price € | €15,000,000 |
| Minimum cost in the last six months | £12,424,650 |
| Maximum cost in the last six months | £12,891,750 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £467,100 |
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 £467,100 more.
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