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What is the cost of investing in a property project in Parchal with 20 apartments?

Plot in Parchal

ref. LE1316
1.100.000€
  • NA
  • 2.880m2
  • 1.499m2
  • Building Plot

The cost for investing in a residential project in Parchal featuring 20 apartments is set at €1,100,000. This price encompasses six plots of land, each with permits for creating five apartment blocks consisting of T2 and T3 apartments, along with a beautiful two-storey detached villa. This scope offers a diverse investment opportunity ideal for a developer aiming to expand their portfolio in the Algarve region.

Each apartment block can host two two-bedroom apartments and two three-bedroom apartments, highlighting the potential for attractive rental income. Given the location’s appeal, just a short drive from scenic beaches and local conveniences, these apartments are poised to attract a wide range of buyers or renters.

The modern urbanisation ensures that residents have easy access to shopping and leisure activities in the nearby town of Ferragudo and Portimão. Parchal is known for its tranquillity, making it a desirable location for families and individuals seeking a peaceful lifestyle yet want to stay close to city amenities. Investment in this project promises an appealing ROI, particularly with the growing popularity of the Algarve for tourism and relocation.

Take action now and seize this unique opportunity to invest in a well-planned project that fits the current market demand. Contact us for more information and get started on your investment journey!

Usage
Residential
Type
Plot
Town
Parchal
Parish
Estômbar e Parchal
Municipality
Lagoa, Faro
Region
Algarve (Central)
Living Area
2.880 m²
Plot Area
1.499 m²
Tarmac
Countryside View
Building Plots
• Total area: 1472 m²
• 6 plots with projects
• 1 villa
• 5 apartment blocks, 20 apartments
• The price includes the plot only, not the construction costs
• Nearest beach 2.5km

6 plots of land located a mere 300m from the Arade River. This is a quiet urbanization in the small village of Parchal which is located just behind the popular fishing town of Ferragudo. Away from hustle and bustle of the big city, and away from the confusion of the summer tourists at high season. Within walking distance of a major supermarket and a short drive to many beautiful beaches and a selection of golf courses. The big city of Portimão is also a short drive where you can find major shopping centres and other amenities.

This is a fantastic opportunity to purchase 6 neighbouring plots all with projects. The original plan was to construct and sell in phases, assuring a low initial outlay and opportunity to attain returns ready to reinvest in the following phases.

Overview of individual plots:
1. Total area 235m² with living area 280m² to construct a detached villa.
2. Total area 243m² living area 520m² over two floors, 2 x two bedroom apartments and 2 x 3 bedroom apartments.
3. Total area 243m² living area 520m² over two floors, 2 x two bedroom apartments and 2 x 3 bedroom apartments.
4. Total area 243m² living area 520m² over two floors, 2 x two bedroom apartments and 2 x 3 bedroom apartments.
5. Total area 243m² living area 520m² over two floors, 2 x two bedroom apartments and 2 x 3 bedroom apartments.
6. Total area 243m² living area 520m² over two floors, 2 x two bedroom apartments and 2 x 3 bedroom apartments.

Amenities

• Possibility to change plans
• Close to all amenities

Location

• Distance to the sea – 2km
• Nearest town 0km
• Nearest beach 2.5km
• Nearest school 500m
• Nearest golf 3km
• Distance to airport 65km
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