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Property for sale in the centre of Monchique for development of offices, residential or tourism
Monchique, Portugal
REF: 789768
€690,000
Description
This three-storey building with a large exterior space is located right in the center of Monchique. The building dates from the beginning of XX century with a solid construction and very large rooms, high ceilings, and high windows. The second level is accessed from the back road and is used as an office and living area. The garden is accessible from the first and second floors and it is bordered with a stone wall which extends for almost 100 metres along the main street of the town and has an elevation of 3m from the street. As the entire land can be developed, a project can be designed for additional construction, further enhancing this architectural and cultural heritage of Monchique. The garage, which is on the ground floor of the building, has high ceilings which could also be suitable for a commercial space in addition to an existing commercial establishment belonging to this building, both accessed from the main street. On the first floor, numerous rooms could be used as offices or bedrooms, a hall, a large meeting room, a kitchen, and a bathroom. The property is perfect for both commercial and residential use. The excellent location is suitable for both tourism and office space. The building is excellent for hotel or touristic apartment rentals. This building is a rare find, and a landmark of the village, offering excellent potential for a unique project.
This three-storey building with a large exterior space is located right in the center of Monchique. The building dates from the beginning of XX century with a solid construction and very large rooms, high ceilings, and high windows. The second level is accessed from the back road and is used as an office and living area. The garden is accessible from the first and second floors and it is bordered with a stone wall which extends for almost 100 metres along the main street of the town and has an elevation of 3m from the street. As the entire land can be developed, a project can be designed for additional construction, further enhancing this architectural and cultural heritage of Monchique. The garage, which is on the ground floor of the building, has high ceilings which could also be suitable for a commercial space in addition to an existing commercial establishment belonging to this building, both accessed from the main street. On the first floor, numerous rooms could be used as offices or bedrooms, a hall, a large meeting room, a kitchen, and a bathroom. The property is perfect for both commercial and residential use. The excellent location is suitable for both tourism and office space. The building is excellent for hotel or touristic apartment rentals. This building is a rare find, and a landmark of the village, offering excellent potential for a unique project.
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Currency Exchange
Monchique, 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 €690,000 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 |
|---|---|---|---|
| €690,000 | £586,976 | £604,813 | £17,837 |
| Property Price € | €690,000 |
| Minimum cost in the last six months | £586,976 |
| Maximum cost in the last six months | £604,813 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £17,837 |
Monchique, 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 €690,000 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 |
|---|---|---|---|
| €690,000 | £586,976 | £604,813 | £17,837 |
| Property Price € | €690,000 |
| Minimum cost in the last six months | £586,976 |
| Maximum cost in the last six months | £604,813 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £17,837 |
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 £17,837 more.
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