This property is leased under a lifetime contract! Whoever purchases the apartment must respect the lease agreement

Olhão, Faro, Portugal

For Sale

€120,000

REF: 924408 €120,000


3

2

75 m2

Description

This property is leased under a lifetime contract! Whoever purchases the apartment must respect the lease agreement. This apartment, located on Av. João VI near Ria Shopping and in need of renovation, has been rented since 1970. It is situated on the ground floor of a building constructed in 1967, with three floors and a total of six units.

The sun exposure is east/south, and it features two bathrooms (one converted into a laundry room), three bedrooms, a living room, and a kitchen with an exterior door. It is important to emphasize that whoever purchases the apartment must comply with the existing lease agreement. Contact me for more information or to schedule your visit! About Olhão: The municipality of Olhão has been growing steadily due to its central location in the Algarve, close to Gago Coutinho International Airport and Faro District Hospital.

Here, you can enjoy the finest restaurants along the Algarve coast with views of the famous islands of Armona, Culatra, and Farol. Additionally, the Ria Formosa Natural Park offers nature enthusiasts the opportunity to enjoy cycling or walking with their family while experiencing the best nature has to offer.

About iad Portugal: Founded in France in 2008 and established in Portugal in 2015, iad emerged from an innovative model that expands the traditional real estate agency concept, fostering a close relationship between the consultant and the client. The success of the iad group is reflected in thousands of consultants, online properties, and successful transactions.

iad is a network of independent real estate consultants based on a fully innovative model that breaks away from the traditional real estate agency concept. What does the 21st-century client look for when buying, renting, or selling a property? They seek a comprehensive, straightforward, and competitive service.

That’s exactly what we offer at iad. Our consultants come to you, equipped with the latest industry training and exclusive tools to provide you with the best service wherever you are. We offer our consultants the flexibility and autonomy needed to guarantee personalized support throughout every stage of your project, whether it’s buying, renting, or selling a property.

At iad, you’ll find a real estate consultant tailored to your needs. iad is a dynamic digital real estate agency built on professionalism and transparency. As an independent real estate consultant, I have the autonomy to manage my schedule, ensuring personalized support at every stage of the process and delivering quality service at the best price. At iad, we share 50/50 with all agencies. #ref: 132603
This property is leased under a lifetime contract! Whoever purchases the apartment must respect the lease agreement. This apartment, located on Av. João VI near Ria Shopping and in need of renovation, has been rented since 1970. It is situated on the ground floor of a building constructed in 1967, with three floors and a total of six units.

The sun exposure is east/south, and it features two bathrooms (one converted into a laundry room), three bedrooms, a living room, and a kitchen with an exterior door. It is important to emphasize that whoever purchases the apartment must comply with the existing lease agreement. Contact me for more information or to schedule your visit! About Olhão: The municipality of Olhão has been growing steadily due to its central location in the Algarve, close to Gago Coutinho International Airport and Faro District Hospital.

Here, you can enjoy the finest restaurants along the Algarve coast with views of the famous islands of Armona, Culatra, and Farol. Additionally, the Ria Formosa Natural Park offers nature enthusiasts the opportunity to enjoy cycling or walking with their family while experiencing the best nature has to offer.

About iad Portugal: Founded in France in 2008 and established in Portugal in 2015, iad emerged from an innovative model that expands the traditional real estate agency concept, fostering a close relationship between the consultant and the client. The success of the iad group is reflected in thousands of consultants, online properties, and successful transactions.

iad is a network of independent real estate consultants based on a fully innovative model that breaks away from the traditional real estate agency concept. What does the 21st-century client look for when buying, renting, or selling a property? They seek a comprehensive, straightforward, and competitive service.

That’s exactly what we offer at iad. Our consultants come to you, equipped with the latest industry training and exclusive tools to provide you with the best service wherever you are. We offer our consultants the flexibility and autonomy needed to guarantee personalized support throughout every stage of your project, whether it’s buying, renting, or selling a property.

At iad, you’ll find a real estate consultant tailored to your needs. iad is a dynamic digital real estate agency built on professionalism and transparency. As an independent real estate consultant, I have the autonomy to manage my schedule, ensuring personalized support at every stage of the process and delivering quality service at the best price. At iad, we share 50/50 with all agencies. #ref: 132603
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Property on Map

#132603

Currency Exchange

Olhão, 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 €120,000 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
€120,000 £98,868 £101,633 £2,765
Property Price € €120,000
Minimum cost in the last six months £98,868
Maximum cost in the last six months £101,633
Fluctuating exchange rates over the last six months could have increased the cost of this property by £2,765

Olhão, 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 €120,000 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
€120,000 £98,868 £101,633 £2,765
Property Price € €120,000
Minimum cost in the last six months £98,868
Maximum cost in the last six months £101,633
Fluctuating exchange rates over the last six months could have increased the cost of this property by £2,765

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 £2,765 more.

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