The total investment required to develop a property comprising 14 apartments in the Algarve is €1,450,000, which includes the plot only and does not cover construction costs. This development is positioned on a plot of 4,690 m², offering ample space for various amenities such as a swimming pool, commercial area, and outdoor recreation zones. Specific to this project, it features a construction area of 2,000 m² over two stories, which includes 10 x three-bedroom apartments, 2 x two-bedroom apartments, and 2 x one-bedroom apartments. The property is strategically located only 5 minutes from the vibrant town of Ferragudo, well-known for its charming atmosphere and proximity to stunning beaches. Investing in this project also means tapping into the lucrative Algarve rental market, especially with tourism on the rise. Each apartment is designed with potential tourists in mind, focusing on comfort and convenience. The area boasts a rich offering of amenities, including local restaurants and shops, making it attractive to visitors year-round. Additionally, situated near excellent golf courses, this project is perfect for investors eager to seize a thriving market. Potential buyers are encouraged to consider this unique opportunity to develop an essential property in the heart of the Algarve. Contact us now to learn more about turning this development vision into reality!
• 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
