2-bed Apartment For Sale in Faro

For Sale

€1,250,000 $1,415,060 | £1,070,677 | ¥9,506,654 *

Type Apartment
Status For Sale
Bedrooms 2
Bathrooms 2
Area Size 1,442 ft2  (134m2)
City Ancao

This magnificent apartment is situated just a 5-minute walk from one of the most beautiful beaches in the Algarve, and benefits of ample indoor and outdoor spaces. Housed in a hotel consisting of 61 luxurious apartments of types T1 and T2, this 2 bedroom apartment has an interior area of 134.94 m ² and a soothing view over the luxuriant surroundings and to the sea. The renovation works will start at the end of 2018, so that everything is operational for the summer 2019. The interiors will match the lush surroundings, being that the guiding line of this project is to modernize all apartments. The pavement will be replaced by modern and uniform ceramic tiles, the kitchenette will have beige lacquered cabinets with built-in appliances and a Nespresso machine. The bathrooms will be coated in smooth ceramic and natural tiles, and the whole bathroom will have a contemporary design, for a perfect integration with the rest of the space. These apartments ensure a return on investment of 5% in the first three years, free of any other charges to the owner, other than IMI / yearly Municipal Tax. This means that the costs of condominium, insurance, cleaning and maintenance of the apartments, will be borne by the developers. The owners have the right to stay in their apartments up to 15 days a year. However, there is some flexibility in this period. Should the owners wish to occupy the apartment for a longer period (a maximum of 6 months a year), they will have obviously the respective penalty on the income. These magnificent apartments are a great investment, both for obtaining a Golden Visa, or for obtaining the tax regime of Non-Resident (NHR), as a holiday home or a Plan B, considering future valuation. The apartments will be sold fully refurbished, furnished and equipped.

Print Date 24-Mar-2019
Updated 23-Mar-2019
Property Ref. WWPC-59707
Department Sales :: Residential

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