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Investment Opportunity in the Algarve - Land with Potential for Tourism Development
Altura, Faro, Portugal
REF: 980261
€11,500,000
Description
Investment Opportunity in the Algarve - Land with Potential for Tourism Development. We present a unique property with a total area of 178,198sqm, comprising three independent plots, each with over 50,000sqm, formerly home to a water park (now deactivated). This land offers strong potential for tourism development, supported by positive feedback from Preliminary Information Requests (PIP) issued by the local municipality, allowing for: The construction of a hotel, A caravan park, And a bungalow resort. Prime Location Ideally situated next to the main national road and with direct access to the A22 motorway, this property benefits from excellent visibility and accessibility, located by a key roundabout. Surrounding Area Set in the heart of the Eastern Algarve (Sotavento), this location is within close proximity to some of the region's most stunning beaches: Manta Rota Beach, Praia Verde, Altura Beach. The Eastern Algarve is known for its natural beauty, year-round mild climate, and growing appeal to both national and international tourists, making it one of the most promising areas in southern Portugal for real estate investment. A rare opportunity to develop a tourism project in one of the Algarve's most sought-after regions. Contact us for more information or to schedule a visit.
Investment Opportunity in the Algarve - Land with Potential for Tourism Development. We present a unique property with a total area of 178,198sqm, comprising three independent plots, each with over 50,000sqm, formerly home to a water park (now deactivated). This land offers strong potential for tourism development, supported by positive feedback from Preliminary Information Requests (PIP) issued by the local municipality, allowing for: The construction of a hotel, A caravan park, And a bungalow resort. Prime Location Ideally situated next to the main national road and with direct access to the A22 motorway, this property benefits from excellent visibility and accessibility, located by a key roundabout. Surrounding Area Set in the heart of the Eastern Algarve (Sotavento), this location is within close proximity to some of the region's most stunning beaches: Manta Rota Beach, Praia Verde, Altura Beach. The Eastern Algarve is known for its natural beauty, year-round mild climate, and growing appeal to both national and international tourists, making it one of the most promising areas in southern Portugal for real estate investment. A rare opportunity to develop a tourism project in one of the Algarve's most sought-after regions. Contact us for more information or to schedule a visit.
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Currency Exchange
Altura, 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 €11,500,000 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 |
|---|---|---|---|
| €11,500,000 | £9,491,640 | £9,983,035 | £491,395 |
| Property Price € | €11,500,000 |
| Minimum cost in the last six months | £9,491,640 |
| Maximum cost in the last six months | £9,983,035 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £491,395 |
Altura, 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 €11,500,000 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 |
|---|---|---|---|
| €11,500,000 | £9,491,640 | £9,983,035 | £491,395 |
| Property Price € | €11,500,000 |
| Minimum cost in the last six months | £9,491,640 |
| Maximum cost in the last six months | £9,983,035 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £491,395 |
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 £491,395 more.
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