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Palace with sea view located in the centre of the town of PÊRA
Silves, Faro, Portugal, 8365-201
REF: 410034
€550,000
Description
Palace consisting of 2 floors with sea view in need of works, located in the center of the town of Pêra, 3 kilometers from the beaches of Armação de Pêra and Salgados.
This manor house will be an ideal investment to create a hostel or a boutique hotel, taking into account "the cachet" of this building where there are 6 compartments on the ground floor with a fantastic main entrance with access stairs to the 1st floor where you will find 10 spacious rooms with plenty of ceiling height and wor.. Palace consisting of 2 floors with sea view in need of works, located in the center of the town of Pêra, 3 kilometers from the beaches of Armação de Pêra and Salgados.
This manor house will be an ideal investment to create a hostel or a boutique hotel, taking into account "the cachet" of this building where there are 6 compartments on the ground floor with a fantastic main entrance with access stairs to the 1st floor where you will find 10 spacious rooms with plenty of ceiling height and worked ceilings, in addition to several other alternative entrances that will help divide this building.
We can also count on a backyard with 3 outbuildings in a state of ruin where you will find an old wood oven, which can be rebuilt for garages, bedrooms, outdoor kitchen and swimming pool and etc... Located on a plot of land with 678 m2, with a gross private area of 341 m2 and a
gross construction area of 529 m2, this palace can be converted into a building with horizontal property where shops and apartments can be created.
A coworking center will also be welcome and ideal to bring this old palace to life!
Come and visit this palace, let your imagination work and project yourself into the rehabilitation of this property with character where you can enjoy a reduced VAT rate for the reconstruction!
Palace consisting of 2 floors with sea view in need of works, located in the center of the town of Pêra, 3 kilometers from the beaches of Armação de Pêra and Salgados.
This manor house will be an ideal investment to create a hostel or a boutique hotel, taking into account "the cachet" of this building where there are 6 compartments on the ground floor with a fantastic main entrance with access stairs to the 1st floor where you will find 10 spacious rooms with plenty of ceiling height and wor.. Palace consisting of 2 floors with sea view in need of works, located in the center of the town of Pêra, 3 kilometers from the beaches of Armação de Pêra and Salgados.
This manor house will be an ideal investment to create a hostel or a boutique hotel, taking into account "the cachet" of this building where there are 6 compartments on the ground floor with a fantastic main entrance with access stairs to the 1st floor where you will find 10 spacious rooms with plenty of ceiling height and worked ceilings, in addition to several other alternative entrances that will help divide this building.
We can also count on a backyard with 3 outbuildings in a state of ruin where you will find an old wood oven, which can be rebuilt for garages, bedrooms, outdoor kitchen and swimming pool and etc... Located on a plot of land with 678 m2, with a gross private area of 341 m2 and a
gross construction area of 529 m2, this palace can be converted into a building with horizontal property where shops and apartments can be created.
A coworking center will also be welcome and ideal to bring this old palace to life!
Come and visit this palace, let your imagination work and project yourself into the rehabilitation of this property with character where you can enjoy a reduced VAT rate for the reconstruction!
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Currency Exchange
Silves, Faro, Portugal, 8365-201
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 €550,000 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 |
|---|---|---|---|
| €550,000 | £467,880 | £481,487 | £13,607 |
| Property Price € | €550,000 |
| Minimum cost in the last six months | £467,880 |
| Maximum cost in the last six months | £481,487 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £13,607 |
Silves, Faro, Portugal, 8365-201
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 €550,000 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 |
|---|---|---|---|
| €550,000 | £467,880 | £481,487 | £13,607 |
| Property Price € | €550,000 |
| Minimum cost in the last six months | £467,880 |
| Maximum cost in the last six months | £481,487 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £13,607 |
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 £13,607 more.
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