Buying a plot with an approved project for an aparthotel offers numerous benefits, especially when located in a high-demand area like Olhos de Água. This specific plot, priced at €13,900,000, comes with full approvals for a 4-star development which simplifies the path to generating income. The site covers 60,125m² and allows for the construction of an impressive 150 units over two storeys, making it ideal for attracting tourists. Knowing that the project has already been greenlit takes away the uncertainty that often accompanies property development, allowing you to begin construction without delay. The strategic location, just 2km from the beach and close to vibrant town amenities, ensures a steady influx of guests looking for quality accommodation. The Algarve is one of Europe's prime tourist destinations with year-round appeal, making this investment highly desirable. Additionally, the potential for rental income in this bustling sector can provide a significant return on investment. Don’t hesitate—capitalise on this unique opportunity to establish a successful business in a sought-after location by contacting us today!
Usage
Commercial
Type
Plot
Town
Olhos de Água
Parish
Albufeira e Olhos de Água
Municipality
Albufeira, Faro
Region
Algarve (Central)
Plot Area
60.125 m²
● Distance to the nearest beach 2 km
● The price includes the plot and the approved project but not the construction of the building
This plot has an approved project proposing the implantation of a 4 Star aparthotel for touristic use.
The total plot area has 60,125m² with a construction area of 19.800m² plus 4.800m² of basement area.
The approved construction of the buildings permits a maximum of 2 storeys and 150 units.
Location
• Distance to the nearest beach - 2 kms
• Distance to Faro airport - 32 kms
• Distance to Golf - 3 kms
• Distance to Olhos de Água - 2,5 kms
• Distance to Albufeira - 7 kms
