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Property with 8800sqm and 3 houses in Monchique
Monchique, Faro, Portugal, 8550-216
REF: 757566
€125,000
Description
Possibly one of the most interesting properties on the property market in Monchique: - 8.800sqm property; - 3 contiguous urban units, with a total build area of 370 sqm. The first urban article belongs to the "mixed" building, and the other two urban articles are independent, which is a very interesting flexibility in terms of investing in this property. As you can see from the photographs, the walls of the houses are solid stone. The sun exposure is excellent, practically facing south. It has incredible views of both Fóia and Picota (in the distance). It's less than 10 minutes by car from the village of Monchique, always on a tarmac road. There is an electricity supply to the area around the houses. A licence application has been paid to the APA (Portuguese Environment Agency) for a borehole to collect water. We are waiting the final permit.
Possibly one of the most interesting properties on the property market in Monchique: - 8.800sqm property; - 3 contiguous urban units, with a total build area of 370 sqm. The first urban article belongs to the "mixed" building, and the other two urban articles are independent, which is a very interesting flexibility in terms of investing in this property. As you can see from the photographs, the walls of the houses are solid stone. The sun exposure is excellent, practically facing south. It has incredible views of both Fóia and Picota (in the distance). It's less than 10 minutes by car from the village of Monchique, always on a tarmac road. There is an electricity supply to the area around the houses. A licence application has been paid to the APA (Portuguese Environment Agency) for a borehole to collect water. We are waiting the final permit.
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Currency Exchange
Monchique, Faro, Portugal, 8550-216
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 €125,000 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 |
|---|---|---|---|
| €125,000 | £106,336 | £109,568 | £3,231 |
| Property Price € | €125,000 |
| Minimum cost in the last six months | £106,336 |
| Maximum cost in the last six months | £109,568 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £3,231 |
Monchique, Faro, Portugal, 8550-216
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 €125,000 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 |
|---|---|---|---|
| €125,000 | £106,336 | £109,568 | £3,231 |
| Property Price € | €125,000 |
| Minimum cost in the last six months | £106,336 |
| Maximum cost in the last six months | £109,568 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £3,231 |
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 £3,231 more.
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