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Land with project to build 47 apartments in Faro, Algarve
Faro, Faro, Portugal
REF: 711327
€2,000,000
Description
Land with an approved project for the construction of 47 apartments in Gambelas, Faro, Algarve.This land has an area of 13460 m2, with the project approved for the following construction:4 Lots with 47 apartments and 1 commercial establishment. Each lot is made up of 4 blocks of 3 floors - A, B, C and D with 3 apartments each, with the exception of block A of lot 1 which has a shop for commerce on the ground floor;The implantation area of each block is 180 m2, with a maximum construction area above ground of 315 m2, of which 105 m2 are for the ground floor and 210 m2 for the remaining floors.Garage with 64 parking spaces, plus 46 public parking spaces, total 112 spaces.It has an area of 2628 m2 for the construction of green spaces, swimming pools, a playground and a sports or multipurpose field for the private use of the lots.It has a public utility area for collective equipment, green spaces, streets, sidewalks and parking lots of 4561 m2 (Application of Ordinance 216-B/08 of 03/03).This land is located in Gambelas, 1 km from the University of the Algarve (Gambelas campus) and the Hospital Particular do Algarve; 3 km from Faro airport; 5 km from Praia de Faro and 6 km from the center of Faro.Come and see this investment opportunity in an area where you can have all the basic services: education, health, commerce, public transport, green spaces, sports and leisure spaces.
Land with an approved project for the construction of 47 apartments in Gambelas, Faro, Algarve.This land has an area of 13460 m2, with the project approved for the following construction:4 Lots with 47 apartments and 1 commercial establishment. Each lot is made up of 4 blocks of 3 floors - A, B, C and D with 3 apartments each, with the exception of block A of lot 1 which has a shop for commerce on the ground floor;The implantation area of each block is 180 m2, with a maximum construction area above ground of 315 m2, of which 105 m2 are for the ground floor and 210 m2 for the remaining floors.Garage with 64 parking spaces, plus 46 public parking spaces, total 112 spaces.It has an area of 2628 m2 for the construction of green spaces, swimming pools, a playground and a sports or multipurpose field for the private use of the lots.It has a public utility area for collective equipment, green spaces, streets, sidewalks and parking lots of 4561 m2 (Application of Ordinance 216-B/08 of 03/03).This land is located in Gambelas, 1 km from the University of the Algarve (Gambelas campus) and the Hospital Particular do Algarve; 3 km from Faro airport; 5 km from Praia de Faro and 6 km from the center of Faro.Come and see this investment opportunity in an area where you can have all the basic services: education, health, commerce, public transport, green spaces, sports and leisure spaces.
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Currency Exchange
Faro, 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 €2,000,000 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 |
|---|---|---|---|
| €2,000,000 | £1,656,620 | £1,718,900 | £62,280 |
| Property Price € | €2,000,000 |
| Minimum cost in the last six months | £1,656,620 |
| Maximum cost in the last six months | £1,718,900 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £62,280 |
Faro, 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 €2,000,000 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 |
|---|---|---|---|
| €2,000,000 | £1,656,620 | £1,718,900 | £62,280 |
| Property Price € | €2,000,000 |
| Minimum cost in the last six months | £1,656,620 |
| Maximum cost in the last six months | £1,718,900 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £62,280 |
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 £62,280 more.
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