This historic 2-story building, dating back to the early 1920s as Carvoeiro’s first hotel, has been fully renovated to create four en-suite studio apartments. Perfectly suited for touristic rentals, the property is currently generating strong rental income and is turnkey, ready for new owners to continue producing excellent returns. Prime Location Situated literally less than 100 meters from the ocean and the centre of Carvoeiro, the property combines convenience with the charm of the Algarve, offering easy access to beaches, shops, and local amenities. Interior & Layout The main house features a single-level layout, ideal for everyday living or rental use: Main living room plus a second living space (suitable as a lounge, office, TV room, or 4th bedroom) 3 bedrooms Fully equipped kitchen Bathroom Connecting hallway The dual living rooms provide flexibility, allowing one space to be used as a formal dining area, study, or additional suite. Outdoor Space A traditional Algarve quintal (yard) of 32.67 m2 provides space for outdoor dining, gardening, or leisure. The ground-floor apartments enjoy private decked areas, while the upper studios boast stunning sea and beach views. Property Size Total area: 135.56 m2 Covered interior: 102.89 m2 Outdoor uncovered area: 32.67 m2 This property offers a rare combination of historic charm, modern renovation, flexible layout, sunny outdoor spaces, and unbeatable coastal location. Whether as a family home, a renovation project with upside, or a turnkey rental investment, this is truly a jewel in the crown of Carvoeiro. Rentals Once the property-renovations were completed, in July 2023, the 4 studios of the property were put into rentals, via the various channels. The results have been extremely promising, both from the perspective of client-satisfaction (reviews on booking.com), as well as from the perspective of financial returns. Only 2 months after the rental activity started, the monthly returns already exceeded the internal projections which were set. Considering that the property was introduced to the rental market in a last-minute fashion, those results are very impressive. Design considerations All decisions regarding aesthetics and design were taken with one goal in mind, to optimise the rental potential of the studios. This means it was imperative to avoid any polarising styles, instead, a design concept was followed that all rental guests would immediately feel comfortable with. Considering the location of the property and its views, the decision was easy: Beach-style. This is clearly demonstrated in the mood-board prepared by the interior decorator. The colour-scheme as well as the look & feel is a bohemian beach-style, focussing on clean whites, vibrant blues and soothing cream (to replicate sand). Equipment & materials Choosing appropriate equipment & materials for rental properties should always be focussed on one thing; Efficiency. Here are some of the key considerations that were made in this context: Air Conditioning – Each studio has an independent AC-unit, all from the brand Daikin. It is the most premium brand of ACs in Portugal, and was chosen as they provide reliable service & because the units themselves are energy-efficient, thereby reducing future electricity bills. Equipment & materials Water boiler – Electric water boilers were chosen, rather than solar water heaters, due to the comparative simplicity, as they require far less servicing & upkeep. Considering the seasonality of the Algarve’s rental market, this is key. Electric water boilers are better suited to remain inactive for longer periods, and they do not cause any expenses if there is no use. Meaning that the water boilers only cause costs when there are rental guests, so a more linear relation between costs and income. Wall-mounted WC-units – All WC-units in the bathrooms are wall-mounted, as this is more hygienic and saves a considerable amount of cleaning time for the housekeeping team. Ceramic sinks – The WC-sinks all have ceramic tops, as these are easiest to clean, and will not stain as other materials do, especially crucial when considering the high concentrations of calcium & magnesium in the Algarve’s tap-water; Kitchenettes – Each studio has its own (brand new) kitchenette-unit, including a fridge, microwave and other essentials. Whereas, there is no hob, oven, or extractor, due to space issues and also due to problems with hygiene, smells & condensation when cooking in a sleeping-&-living-area. The absence of a full kitchen is justifiable in a studio, especially considering the abundance of restaurants in easy walking distance. It also bears financial benefits as investment- and operation-costs (electricity and cleaning) are kept considerably lower. Ventilation ducts – One of the great advantages of the property are its extremely thick walls (up to 100cm in diameter), which act as great insulation from the intense Algarve weather. However, what it can bring as a consequence are temperature differences between the outside of the wall and the inside, which could result in condensation building. In order to prevent this ventilation-ducts were installed into each of the studios, which increase the natural air-circulation; Paint – All chosen paints are textured, meaning they contain participles of sand. The reason for this is both aesthetic as well as functional. The textured paint gives a textured look & feel to the walls. Furthermore it makes scratches and imperfections farless noticeable, and with a rental property such imperfections are inevitable.
