LOT 44 - T2A+ - FLOOR 1 WITH PARKING The Nomad Bay property is located just a few minutes outside of Carvoeiro, one of the Algarves most desirable locations

Lagoa (Algarve), Faro, Portugal

For Sale

€620,000

REF: 626043 €620,000


2

2


122 m2

Description

LOT 44 - T2A+ - FLOOR 1 WITH PARKING The Nomad Bay property is located just a few minutes outside of Carvoeiro, one of the Algarves most desirable locations. Carvoeiro is a charming and traditional resort town in Western Algarve which is best known for its whitewashed cottages and breath-taking beaches.

Surrounded by the cliffs, Carvoeiro offers a vibrant yet peaceful atmosphere. When walking the cobbled narrow streets of Carvoeiro, you will find a broad selection of outstanding restaurants and bars where you can admire the beautiful sea views. Since Carvoeiro is close to the Atlantic, you can travel by boat to many destinations such as the famous Benagil cave, up the Arade river to the castle town of Silves or to Praia da Rocha in vibrant Portimão.

The Nomad Bay property is located just a few minutes outside of downtown Carvoeiro, on a hill which offers stunning sea views. From the property, you are just a short drive away to several beautiful beaches such as Praia do Carvalho or Praia do Vale de Centeanes, as well as many golf courses such as the Vale de Milho golf.

Given the amazing location of this property and its proximity with a wide arrow of tourist attractions, this property is sold as an investment property. The project has been structured as a hotel chain and is being managed as such i.e. Nomad Bay will handle all the property management and rental of the apartments for a complete turnkey solution.

Inventors are free to occupy their apartment seasonally or year-around but when the property is not occupied by its owners, the property will generate revenues through rentals. This project also qualifies for the reduced EUR 400,000 Golden visa. The Nomad Bay property will be a luxury holiday resort consisting of 4 two story buildings and 74 apartments, with 1 to 3 bedrooms.

T1 units asking prices start at EUR 450,000. The T2 units asking price starts at EUR 550,000. All apartments will have floor to ceiling windows creating a bright and comfortable environment. Units all include a large outdoor space and many units have ocean views. All the kitchens will be fully fitted with top of the range appliances such as Smeg or Bosh and will include dishwasher, washing machine, fridge, hob extractor, oven and coffee machine.

All units will have wooden flooring throughout the entire floor. Property amenities include a pool, gym, spa, restaurant and bar. The T2A+ units (122,50m2) have a large open space of 28,10m2 which consist of a living room and a kitchen. The master bedroom (14,80 m2) has an ensuite bathroom with a shower and two sinks.

The second bedroom (12,10m2) is also ensuite with a bathroom equipped with a shower. The units have a huge terrace of 40,20m2 which can be accessed by both the living room and the bedrooms. The construction of the resort is already on its way and the grand opening is scheduled for the second quarter of 2024. For more information, email me at [email protected] or whatsapp +351 912 222 159 #ref: 85456
LOT 44 - T2A+ - FLOOR 1 WITH PARKING The Nomad Bay property is located just a few minutes outside of Carvoeiro, one of the Algarves most desirable locations. Carvoeiro is a charming and traditional resort town in Western Algarve which is best known for its whitewashed cottages and breath-taking beaches.

Surrounded by the cliffs, Carvoeiro offers a vibrant yet peaceful atmosphere. When walking the cobbled narrow streets of Carvoeiro, you will find a broad selection of outstanding restaurants and bars where you can admire the beautiful sea views. Since Carvoeiro is close to the Atlantic, you can travel by boat to many destinations such as the famous Benagil cave, up the Arade river to the castle town of Silves or to Praia da Rocha in vibrant Portimão.

The Nomad Bay property is located just a few minutes outside of downtown Carvoeiro, on a hill which offers stunning sea views. From the property, you are just a short drive away to several beautiful beaches such as Praia do Carvalho or Praia do Vale de Centeanes, as well as many golf courses such as the Vale de Milho golf.

Given the amazing location of this property and its proximity with a wide arrow of tourist attractions, this property is sold as an investment property. The project has been structured as a hotel chain and is being managed as such i.e. Nomad Bay will handle all the property management and rental of the apartments for a complete turnkey solution.

Inventors are free to occupy their apartment seasonally or year-around but when the property is not occupied by its owners, the property will generate revenues through rentals. This project also qualifies for the reduced EUR 400,000 Golden visa. The Nomad Bay property will be a luxury holiday resort consisting of 4 two story buildings and 74 apartments, with 1 to 3 bedrooms.

T1 units asking prices start at EUR 450,000. The T2 units asking price starts at EUR 550,000. All apartments will have floor to ceiling windows creating a bright and comfortable environment. Units all include a large outdoor space and many units have ocean views. All the kitchens will be fully fitted with top of the range appliances such as Smeg or Bosh and will include dishwasher, washing machine, fridge, hob extractor, oven and coffee machine.

All units will have wooden flooring throughout the entire floor. Property amenities include a pool, gym, spa, restaurant and bar. The T2A+ units (122,50m2) have a large open space of 28,10m2 which consist of a living room and a kitchen. The master bedroom (14,80 m2) has an ensuite bathroom with a shower and two sinks.

The second bedroom (12,10m2) is also ensuite with a bathroom equipped with a shower. The units have a huge terrace of 40,20m2 which can be accessed by both the living room and the bedrooms. The construction of the resort is already on its way and the grand opening is scheduled for the second quarter of 2024. For more information, email me at [email protected] or whatsapp +351 912 222 159 #ref: 85456
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Property on Map

#85456

Currency Exchange

Lagoa (Algarve), 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 €620,000 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
€620,000 £527,428 £543,455 £16,027
Property Price € €620,000
Minimum cost in the last six months £527,428
Maximum cost in the last six months £543,455
Fluctuating exchange rates over the last six months could have increased the cost of this property by £16,027

Lagoa (Algarve), 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 €620,000 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
€620,000 £527,428 £543,455 £16,027
Property Price € €620,000
Minimum cost in the last six months £527,428
Maximum cost in the last six months £543,455
Fluctuating exchange rates over the last six months could have increased the cost of this property by £16,027

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 £16,027 more.

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