Investing in a residential development with rental units in the Algarve is a fantastic opportunity with this project in Ferragudo. This property comprises two buildings with a total of 14 apartments, including 10 three-bedroom units, 2 two-bedroom, and 2 one-bedroom apartments. The plot, measuring 4690 m², includes a planned basement for underground parking and storage, which adds tremendous value to the project. Ideal for buyers looking to develop a small resort, this site is in the final stages of obtaining a rural tourism license, making it a promising investment.
Located just 1.5 kilometres from the sea and 2.4 kilometres from stunning beaches, this development benefits from its proximity to Ferragudo, ensuring easy access to various amenities and attractions. The site is designed with entertainment in mind, featuring a planned front desk area, recreation room, swimming pool, bar, and lush green areas. Additionally, the nearby golf courses and restaurants enhance the lifestyle appeal for future tenants.
The potential for high rental yields is significant, with the growing tourism market in the Algarve. This area is not only picturesque but also offers a flourishing atmosphere ideal for holiday rentals and longer-term rentals alike. You can also adapt the original building plans prior to construction, allowing for more flexibility in layout and additional accommodations.
At an asking price of €1,100,000, this property represents a strategic investment opportunity with the potential for a solid return on investment. Don't miss your chance to capitalise on this early opportunity in a sought-after location. Contact us today to discuss further details and schedule a viewing!
• Plot area 4690 m²
• Construction area 2000 m²
• Two floors
• 15 houses
• Rural tourism license awaiting approval
• The price includes the plot only, not the construction costs
• Nearest beach 2.4km
With a partial view of Gramacho golf, this plot of land with 4. 690 m² has a construction project in the context of "Tourism in Rural Areas". The plan is to construct 2 two story buildings comprising of 14 rental units. 10 x 3 bedroom, 2 x 2 bedroom and 2 x 1 bedroom. Front desk, commercial area, swimming pool, bar, laundry, recreation room, green areas and an underground car park with lockable storage areas.
Subject to final approval but has pre-guidance, this will be approved and will be at the time of sale or before. Awaiting documentation.
Ideally located only 5 minutes’ drive from two of the Algarve's best golf courses, good quality restaurants and shops, 5 minutes from the center of the popular fishing town of Ferragudo. Opportunity to change plans before construction.
Amenities
• Underground garage for 10 vehicles
• Outdoor parking for 25 vehicles
• Lockable storage areas
• Option to change plans and add extra rooms
Location
• Distance to the sea – 1.5km
• Nearest town 1.4km
• Nearest beach 2.4km
• Nearest school 1km
• Nearest golf 2.5km
• Distance to airport 66km
