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Investment Opportunity in the Heart of Faro: Profitable Guest House Nestled in the picturesque Baixa de Faro, this charming guest house offers a unique and highly profitable investment opportunity
Faro, Faro, Portugal
REF: 805821
€360,000
Description
Investment Opportunity in the Heart of Faro: Profitable Guest House Nestled in the picturesque Baixa de Faro, this charming guest house offers a unique and highly profitable investment opportunity. With an annual net income exceeding 100,000, this property is ideal for those seeking a solid and thriving business. Property Features: 4 spacious rooms, including 2 equipped with kitchenettes. Modern bathrooms with suspended toilets and bidets. Illuminated stairs for enhanced safety at night. Lease Details: The lease agreement is actually a commercial lease in Portugal. Typically lasting 1 to 3 years, this lease has an initial duration of 10 years, with the possibility of automatic renewal for an additional 8 years. The rent is very affordable, only 1050 per month, subject to annual reassessment based on the prevailing index. It's possible to negotiate with the landlord to spread the costs over 10 years, although this may result in a rent increase. Fees and Taxes: Transfer fees primarily include taxes, which will be clarified with the lawyer and estimated between 10,000 and 15,000. There is no existing staff to take over, and no alternative sale or lease options are provided. Financial Information (2023 Accounting): Booking revenue: 122,718. Net revenue after commissions: 102,279. Fixed expenses, including rent, electricity, water, and others: approximately 16,000 per year. Variable expenses, including cleaning and laundry: approximately 12,000 per year. Operating Authorization: The authorization to operate this business is already in place and will be transferred to the new owner during the transfer process. This is an opportunity not to be missed for investors interested in acquiring a profitable guest house in a prime location. Contact me Sylvia Quelhas for more information and to arrange a viewing! #ref: 115064
Investment Opportunity in the Heart of Faro: Profitable Guest House Nestled in the picturesque Baixa de Faro, this charming guest house offers a unique and highly profitable investment opportunity. With an annual net income exceeding 100,000, this property is ideal for those seeking a solid and thriving business. Property Features: 4 spacious rooms, including 2 equipped with kitchenettes. Modern bathrooms with suspended toilets and bidets. Illuminated stairs for enhanced safety at night. Lease Details: The lease agreement is actually a commercial lease in Portugal. Typically lasting 1 to 3 years, this lease has an initial duration of 10 years, with the possibility of automatic renewal for an additional 8 years. The rent is very affordable, only 1050 per month, subject to annual reassessment based on the prevailing index. It's possible to negotiate with the landlord to spread the costs over 10 years, although this may result in a rent increase. Fees and Taxes: Transfer fees primarily include taxes, which will be clarified with the lawyer and estimated between 10,000 and 15,000. There is no existing staff to take over, and no alternative sale or lease options are provided. Financial Information (2023 Accounting): Booking revenue: 122,718. Net revenue after commissions: 102,279. Fixed expenses, including rent, electricity, water, and others: approximately 16,000 per year. Variable expenses, including cleaning and laundry: approximately 12,000 per year. Operating Authorization: The authorization to operate this business is already in place and will be transferred to the new owner during the transfer process. This is an opportunity not to be missed for investors interested in acquiring a profitable guest house in a prime location. Contact me Sylvia Quelhas for more information and to arrange a viewing! #ref: 115064
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Currency Exchange
Faro, 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 €360,000 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 |
|---|---|---|---|
| €360,000 | £306,248 | £315,554 | £9,306 |
| Property Price € | €360,000 |
| Minimum cost in the last six months | £306,248 |
| Maximum cost in the last six months | £315,554 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £9,306 |
Faro, 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 €360,000 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 |
|---|---|---|---|
| €360,000 | £306,248 | £315,554 | £9,306 |
| Property Price € | €360,000 |
| Minimum cost in the last six months | £306,248 |
| Maximum cost in the last six months | £315,554 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £9,306 |
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 £9,306 more.
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