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Traditional villa with adjacent plot for modern sea view villa, Praia da Luz
Lagos, Faro, Portugal, 8600-109 Luz
REF: 682520
€990,000
Description
Traditional villa in the centre of Praia da Luz with approved project for a modern villa with sea views. A rare opportunity to acquire an existing villa in the centre of Praia da Luz, with additional planning permission to build a luxury villa with sea views on the adjacent plot, with the full project included in the sale price.
Properties this central rarely come up for sale in Praia da Luz, especially not with the potential to build an additional villa. Only two minutes walk to the centre and five minutes to the beach, this property is ideally located close to all amenities, with two supermarkets and various restaurants at your doorstep.
The total area of the property is over 1,200 m2, with the existing, linked villa ready to live in. This traditional villa was built in 1983 and has undergone various improvements over the years, with a new kitchen and bathroom recently fitted. The single storey villa has three bedrooms, two bathrooms, a living room, and a kitchen, as well as a small interior courtyard. The villa enjoys plenty of outdoor space and has lots of authentic Algarvian character. There is a garage with an additional space above, though this is provisioned to be demolished for the construction of the modern villa.
The plot for the future villa is 909 m2, an approved Mario Martins Atelier design, ready to build. The project has a total construction area of 440 m2 over two stories, plus a basement garage with space for three cars. The stunning modern design maximises the stunning views over beach and the iconic Rocha Negra or Black Rock of Praia da Luz and will be an iconic landmark, one of the few modern villas this close to the centre of town. On the ground floor, the project has one spacious en-suite bedroom, a spacious multi-purpose room adjacent to the pool area, a laundry room, an additional bathroom, and outdoor kitchen area. The main living area is on the first floor, to make the most of the stunning sea views. There are two ample bedrooms, both with en suite bathrooms, an ample open plan kitchen and a spacious living and dining area. The whole living area boasts floor to ceiling window and wrap-around terraces to maximise the outdoor space.
Floorplans available on request.
At this stage in the project, a future owner can still make alterations to the plans, should they need to.
Contact us today for more information on this unique opportunity!
Traditional villa in the centre of Praia da Luz with approved project for a modern villa with sea views. A rare opportunity to acquire an existing villa in the centre of Praia da Luz, with additional planning permission to build a luxury villa with sea views on the adjacent plot, with the full project included in the sale price.
Properties this central rarely come up for sale in Praia da Luz, especially not with the potential to build an additional villa. Only two minutes walk to the centre and five minutes to the beach, this property is ideally located close to all amenities, with two supermarkets and various restaurants at your doorstep.
The total area of the property is over 1,200 m2, with the existing, linked villa ready to live in. This traditional villa was built in 1983 and has undergone various improvements over the years, with a new kitchen and bathroom recently fitted. The single storey villa has three bedrooms, two bathrooms, a living room, and a kitchen, as well as a small interior courtyard. The villa enjoys plenty of outdoor space and has lots of authentic Algarvian character. There is a garage with an additional space above, though this is provisioned to be demolished for the construction of the modern villa.
The plot for the future villa is 909 m2, an approved Mario Martins Atelier design, ready to build. The project has a total construction area of 440 m2 over two stories, plus a basement garage with space for three cars. The stunning modern design maximises the stunning views over beach and the iconic Rocha Negra or Black Rock of Praia da Luz and will be an iconic landmark, one of the few modern villas this close to the centre of town. On the ground floor, the project has one spacious en-suite bedroom, a spacious multi-purpose room adjacent to the pool area, a laundry room, an additional bathroom, and outdoor kitchen area. The main living area is on the first floor, to make the most of the stunning sea views. There are two ample bedrooms, both with en suite bathrooms, an ample open plan kitchen and a spacious living and dining area. The whole living area boasts floor to ceiling window and wrap-around terraces to maximise the outdoor space.
Floorplans available on request.
At this stage in the project, a future owner can still make alterations to the plans, should they need to.
Contact us today for more information on this unique opportunity!
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Property on Map
Currency Exchange
Lagos, Faro, Portugal, 8600-109 Luz
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 €990,000 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 |
|---|---|---|---|
| €990,000 | £842,183 | £867,775 | £25,592 |
| Property Price € | €990,000 |
| Minimum cost in the last six months | £842,183 |
| Maximum cost in the last six months | £867,775 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £25,592 |
Lagos, Faro, Portugal, 8600-109 Luz
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 €990,000 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 |
|---|---|---|---|
| €990,000 | £842,183 | £867,775 | £25,592 |
| Property Price € | €990,000 |
| Minimum cost in the last six months | £842,183 |
| Maximum cost in the last six months | £867,775 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £25,592 |
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 £25,592 more.
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