Buying this approved aparthotel development site near Albufeira offers access to a 60,125 m² tourism opportunity priced at €13,900,000. The plot includes consent for a four-star aparthotel with up to 150 units, supporting a potential rental-led business model. Its location near Olhos de Água combines proximity to the coast, golf and established Algarve visitor destinations. The approved development allows buildings of up to two storeys. Approximately 19,800 m² of construction area is permitted. A further 4,800 m² of basement area forms part of the approved project. The asking price covers the land and project, while construction remains the purchaser’s responsibility. This structure may appeal to experienced developers wanting control over the delivery and investment strategy. The nearest beach is around 2 kilometres away. Guests could also reach a golf course within approximately 3 kilometres. Olhos de Água is roughly 2.5 kilometres from the site and provides access to local amenities. Albufeira is approximately 7 kilometres away, broadening the potential appeal to holidaymakers. Faro Airport is about 32 kilometres from the plot. The Algarve’s established tourism profile can support demand for professionally operated accommodation, subject to market conditions. Aparthotel units may appeal to visitors seeking self-catering flexibility alongside resort-style services. The scale of the approved scheme creates the possibility of operating multiple accommodation categories or targeting different visitor segments. Investors can assess long-term rental, seasonal holiday and potential hospitality management strategies during the feasibility stage. No guaranteed rental income or ROI is stated, so financial projections should be independently prepared. Planning, licensing, construction, funding and operational due diligence will be essential before exchange. Contact us to discuss the opportunity and schedule a viewing of the development site.
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
