The cost of this promising 14-apartment development in the Algarve is €1,450,000. This attractive investment comprises two buildings, each two storeys high, offering a combination of 10 three-bedroom, 2 two-bedroom, and 2 one-bedroom units. Set on a generous plot size of 4,690 m², the site boasts a construction area of 2,000 m². Located on the outskirts of Ferragudo, the project has an ideal position to cater to the increasing demand for tourist accommodations in the Algarve region. With planning permission awaiting approval, this development is poised to generate significant rental income. Additional amenities include an underground parking garage, outdoor parking for 25 vehicles, and ample green entertainment areas, perfect for creating a welcoming atmosphere for guests. As the nearest beaches and golf courses are only a short drive away, it underscores the allure for holidaymakers. Given the anticipated return in the vibrant rental market of the Algarve, this project represents a sound investment for serious buyers. Don’t hesitate to inquire about this exceptional opportunity and take the first step towards owning a piece of paradise!
• 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
