Search
Historic Building for Rehabilitation in Faro
Faro, Faro, Portugal, 8000-286
REF: 973529
€790,000
Description
We present a unique opportunity in the heart of the historic center of Faro. An emblematic, classified building, with an approved project for rehabilitation and great potential for appreciation. Location: Historic Center of Faro Total Area: 707 m Composition: 3 floors, patio with garden Approved Project: For urban building with 5 exclusive autonomous units, which are based on a collective condominium housing program, with the following distribution: - Ground floor: a 1 bedroom apartment; a 2 bedroom apartment; a 2 bedroom 1 duplex apartment - 1st Floor: a T2 duplex apartment; a 2 bedroom apartment 1 Flexible Potential: meets the requirements to be converted into tourist apartments Property Classified and Inserted in an Urban Rehabilitation Area (ARU): allows high benefits and tax and council exemptions Rapid Development: The construction permit can be issued immediately Historic Property: It was, for around two decades, the headquarters of the Faro District Archive, keeping the documentary memory of the region. It was also the official residence for 5 years of the memorable Franciscan priest Frei António Marques Crispin, remembered for his dedication to the community, and work developed while teaching at Colégio Algarve de Faro. 💡 Ideal for investors, promoters or tour operators looking for an exclusive asset in one of the most charming and valued areas of the Algarve. Get in touch today and discover this soulful rehabilitation project, ready to transform into a unique space in the center of Faro!
We present a unique opportunity in the heart of the historic center of Faro. An emblematic, classified building, with an approved project for rehabilitation and great potential for appreciation. Location: Historic Center of Faro Total Area: 707 m Composition: 3 floors, patio with garden Approved Project: For urban building with 5 exclusive autonomous units, which are based on a collective condominium housing program, with the following distribution: - Ground floor: a 1 bedroom apartment; a 2 bedroom apartment; a 2 bedroom 1 duplex apartment - 1st Floor: a T2 duplex apartment; a 2 bedroom apartment 1 Flexible Potential: meets the requirements to be converted into tourist apartments Property Classified and Inserted in an Urban Rehabilitation Area (ARU): allows high benefits and tax and council exemptions Rapid Development: The construction permit can be issued immediately Historic Property: It was, for around two decades, the headquarters of the Faro District Archive, keeping the documentary memory of the region. It was also the official residence for 5 years of the memorable Franciscan priest Frei António Marques Crispin, remembered for his dedication to the community, and work developed while teaching at Colégio Algarve de Faro. 💡 Ideal for investors, promoters or tour operators looking for an exclusive asset in one of the most charming and valued areas of the Algarve. Get in touch today and discover this soulful rehabilitation project, ready to transform into a unique space in the center of Faro!
Read More
Property on Map
Currency Exchange
Faro, Faro, Portugal, 8000-286
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 €790,000 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 |
|---|---|---|---|
| €790,000 | £650,881 | £685,791 | £34,910 |
| Property Price € | €790,000 |
| Minimum cost in the last six months | £650,881 |
| Maximum cost in the last six months | £685,791 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £34,910 |
Faro, Faro, Portugal, 8000-286
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 €790,000 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 |
|---|---|---|---|
| €790,000 | £650,881 | £685,791 | £34,910 |
| Property Price € | €790,000 |
| Minimum cost in the last six months | £650,881 |
| Maximum cost in the last six months | £685,791 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £34,910 |
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 £34,910 more.
Search popular regions
Useful links
Hi {{firstName}},
Enquire about this property
Make an Enquiry on this property
No Yes
No Yes
I agree to be connected with a trusted property agent who will receive
these details.
We handle your data with care and only ever as outlined in our
Privacy Policy
Thank you for your
enquiry!
Our partner agent will be in touch with you shortly.
Our partner agent will be in touch with you shortly.
Enquire about this property
No
Yes
No
Yes
I agree to be connected with the property agent for more detail on this
listing.
We handle your data with care and only ever as outlined in our
Privacy Policy
