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Urban plot with 1120m² - Ideal for building a villa, apartments or commercial projects
Faro, Faro, Portugal
REF: 936566
€235,000
Description
Urban plot with 1120m² - Ideal for building a villa, apartments or commercial projects. We present this excellent urban plot of 1120m², located in the prestigious Montenegro area of Faro, just a 10-minute walk from Faro Airport and a 5-minute drive from Faro Beach. This privileged location offers great upside potential for investors, real estate professionals or for private clients wishing to build their dream villa or apartment project. Land features: - Total area: 1120m² - Entrance: Direct access from the street, with all the necessary infrastructure. - Area: Inserted in an urban area of the PDM, in an area with strong potential for development. Privileged location: - Faro Airport: Just a 10-minute walk away, making this plot an excellent option for projects linked to tourism or mobility. - Faro Beach: 5 minutes away by car, with easy access to the beaches and all the amenities of the city of Faro. Zoning and Construction Potential: This land is in the urban zone of Faro's Municipal Master Plan (PDM), with characteristics that make different types of projects possible, whether residential or commercial. The zone is defined as: - Structuring Urbanization IB: With a maximum gross utilization index of 0.6, allowing the construction of denser projects, with a maximum density of 60 dwellings/ha. - Expansion Urbanization IB: With a maximum gross use index of 0.4, allowing the construction of projects with a maximum density of 40 dwellings/ha. The land also has a project approved for a single-family house in 2021, which has expired but can be renewed or adapted to new projects. For more information on the regulations, articles 48, 49 and 51 apply for structuring urban areas IB, and articles 59, 60 and 62 for expansion urbanization areas IB. Advantages for Investors and Builders: - Versatility of projects: Ideal for building single-family homes, apartments or even commercial projects such as a rental-car, with the possibility of submitting a new project to Faro Town Hall to check viability. - Great potential for development: The strategic location and proximity to areas of high demand make this land an excellent opportunity for a successful project, both for construction and for profitability. Don't miss the chance to invest in this plot of land with great potential for development and return. Get in touch for more information or to schedule a visit. #ref: 136011
Urban plot with 1120m² - Ideal for building a villa, apartments or commercial projects. We present this excellent urban plot of 1120m², located in the prestigious Montenegro area of Faro, just a 10-minute walk from Faro Airport and a 5-minute drive from Faro Beach. This privileged location offers great upside potential for investors, real estate professionals or for private clients wishing to build their dream villa or apartment project. Land features: - Total area: 1120m² - Entrance: Direct access from the street, with all the necessary infrastructure. - Area: Inserted in an urban area of the PDM, in an area with strong potential for development. Privileged location: - Faro Airport: Just a 10-minute walk away, making this plot an excellent option for projects linked to tourism or mobility. - Faro Beach: 5 minutes away by car, with easy access to the beaches and all the amenities of the city of Faro. Zoning and Construction Potential: This land is in the urban zone of Faro's Municipal Master Plan (PDM), with characteristics that make different types of projects possible, whether residential or commercial. The zone is defined as: - Structuring Urbanization IB: With a maximum gross utilization index of 0.6, allowing the construction of denser projects, with a maximum density of 60 dwellings/ha. - Expansion Urbanization IB: With a maximum gross use index of 0.4, allowing the construction of projects with a maximum density of 40 dwellings/ha. The land also has a project approved for a single-family house in 2021, which has expired but can be renewed or adapted to new projects. For more information on the regulations, articles 48, 49 and 51 apply for structuring urban areas IB, and articles 59, 60 and 62 for expansion urbanization areas IB. Advantages for Investors and Builders: - Versatility of projects: Ideal for building single-family homes, apartments or even commercial projects such as a rental-car, with the possibility of submitting a new project to Faro Town Hall to check viability. - Great potential for development: The strategic location and proximity to areas of high demand make this land an excellent opportunity for a successful project, both for construction and for profitability. Don't miss the chance to invest in this plot of land with great potential for development and return. Get in touch for more information or to schedule a visit. #ref: 136011
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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 €235,000 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 |
|---|---|---|---|
| €235,000 | £193,617 | £204,001 | £10,385 |
| Property Price € | €235,000 |
| Minimum cost in the last six months | £193,617 |
| Maximum cost in the last six months | £204,001 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £10,385 |
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 €235,000 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 |
|---|---|---|---|
| €235,000 | £193,617 | £204,001 | £10,385 |
| Property Price € | €235,000 |
| Minimum cost in the last six months | £193,617 |
| Maximum cost in the last six months | £204,001 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £10,385 |
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 £10,385 more.
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