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Property Description: Perfect for investors! Architectural project approved by the City Council for the construction of a tourist residence, in a countryside area, but 10 minutes from the beaches
Loulé, Faro, Portugal
REF: 664980
€500,000
Description
Property Description: Perfect for investors! Architectural project approved by the City Council for the construction of a tourist residence, in a countryside area, but 10 minutes from the beaches. The complex will consist of: - 5 suites (without kitchen), with terrace and private garden; - 2 studios with kitchenette, terrace and private garden; - 1 house with 1 bedroom and private garden; - the home of the owners; - common areas for breakfast, library, fireplace... - pool; - brazier; - parking; The protector develops more than 700 m2 of construction in a modern architectural style that respects traditions. The property has 1.3 ha of land that goes down to the river and leaves beautiful living spaces in the middle of nature for all customers. Important note for investors => there is a project to expand the residence which includes 2 more studio-type villas with gardens and 2 villas with 2 bedrooms (the project has been prepared but has not been submitted to the City Council). The land has water and electricity. The large Falésia beach is just 5 km away and all shops are 2 km away. The famous Vilamoura Marina and several golf courses are also nearby. #ref: 91396
Property Description: Perfect for investors! Architectural project approved by the City Council for the construction of a tourist residence, in a countryside area, but 10 minutes from the beaches. The complex will consist of: - 5 suites (without kitchen), with terrace and private garden; - 2 studios with kitchenette, terrace and private garden; - 1 house with 1 bedroom and private garden; - the home of the owners; - common areas for breakfast, library, fireplace... - pool; - brazier; - parking; The protector develops more than 700 m2 of construction in a modern architectural style that respects traditions. The property has 1.3 ha of land that goes down to the river and leaves beautiful living spaces in the middle of nature for all customers. Important note for investors => there is a project to expand the residence which includes 2 more studio-type villas with gardens and 2 villas with 2 bedrooms (the project has been prepared but has not been submitted to the City Council). The land has water and electricity. The large Falésia beach is just 5 km away and all shops are 2 km away. The famous Vilamoura Marina and several golf courses are also nearby. #ref: 91396
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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 €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 |
|---|---|---|---|
| €500,000 | £415,825 | £430,310 | £14,485 |
| Property Price € | €500,000 |
| Minimum cost in the last six months | £415,825 |
| Maximum cost in the last six months | £430,310 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £14,485 |
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 €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 |
|---|---|---|---|
| €500,000 | £415,825 | £430,310 | £14,485 |
| Property Price € | €500,000 |
| Minimum cost in the last six months | £415,825 |
| Maximum cost in the last six months | £430,310 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £14,485 |
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 £14,485 more.
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