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Palacette style property in Silves for Sale
Silves, Portugal
REF: 882355
€2,200,000
Description
This unique centenary building located in the centre of Silves offers potential for various business opportunities as well as luxury residential home. The property is composed of two levels. On the ground level, there is a commercial area, currently used as a restaurant with a terrace and Internal patio, a fully equipped kitchen, large pantry and refrigerators, 3 bathrooms for customers, Staff area with cabinets and toilet and office. This area is equipped with underfloor heating, surround system, both Interior and exterior and solar panels for hot water. The first floor, is a mantion of 4 bedrooms (one of them en-suite), a large living room, kitchen, 2 Terraces, and balconies overlooking the town of silves. Some of the most unique features of this historical building are the double-height ceilings, the detailed ceiling work, ancient doors, windows, stair railings and other relics that make this property a true historial gem. The property is in the final stages of restoration, which include maintaining the historic characteristics of the building, whilst including ventilation system throughout, central vaccuum system, solar panels and underfloor heating in the bathrooms. There is also an attic, and potential for additional bedrooms for potential use as a b&b or boutique hotel.
This unique centenary building located in the centre of Silves offers potential for various business opportunities as well as luxury residential home. The property is composed of two levels. On the ground level, there is a commercial area, currently used as a restaurant with a terrace and Internal patio, a fully equipped kitchen, large pantry and refrigerators, 3 bathrooms for customers, Staff area with cabinets and toilet and office. This area is equipped with underfloor heating, surround system, both Interior and exterior and solar panels for hot water. The first floor, is a mantion of 4 bedrooms (one of them en-suite), a large living room, kitchen, 2 Terraces, and balconies overlooking the town of silves. Some of the most unique features of this historical building are the double-height ceilings, the detailed ceiling work, ancient doors, windows, stair railings and other relics that make this property a true historial gem. The property is in the final stages of restoration, which include maintaining the historic characteristics of the building, whilst including ventilation system throughout, central vaccuum system, solar panels and underfloor heating in the bathrooms. There is also an attic, and potential for additional bedrooms for potential use as a b&b or boutique hotel.
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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 €2,200,000 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 |
|---|---|---|---|
| €2,200,000 | £1,822,282 | £1,890,790 | £68,508 |
| Property Price € | €2,200,000 |
| Minimum cost in the last six months | £1,822,282 |
| Maximum cost in the last six months | £1,890,790 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £68,508 |
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 €2,200,000 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 |
|---|---|---|---|
| €2,200,000 | £1,822,282 | £1,890,790 | £68,508 |
| Property Price € | €2,200,000 |
| Minimum cost in the last six months | £1,822,282 |
| Maximum cost in the last six months | £1,890,790 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £68,508 |
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 £68,508 more.
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