Located in the heart of Faro, the Algarve’s largest and most historical city is this fantastic new riverside hotel development. The building is located just 7km away from Faro international airport and is surrounded by some of the city’s best restaurants and tourist attractions.
The 133 room hotel is set to be managed by a globally recognised hotel brand and is being built by a renowned developer with a strong track record. Designed under a distinct concept, the hotel will have a vibrant and modern palette and will be abundant with natural light.
Shares are priced at €280,000 and the developer is also offering a guaranteed buy-back after six years.
- Purchase a share in the project for €280,000 (plus fees);
- Enjoy seven days free stay per year;
- Managed by a global hotel brand;
- Developed by an international development company with a strong track record;
- Developer offers a guaranteed buy-back after 6 years;
- Save €11,375 – IMT Paid by the developer;
- Save €24,150 – VAT Paid by the developer;
- IMI exemption during the construction period;
- Expected start of operation: Q3 2024.
HOTEL FACILITIES INCLUDE:
- 133 Rooms
- Swimming Pool
- Bar & Restaurant
For more details on the project please contact our specialist consultants.
This project qualifies as a touristic commercial project and therefore qualifies under Portugal’s new Golden Visa legislation for 2022. Investors can apply for a Portuguese residency visa by purchasing a share in this property at just €280,000 as opposed to €500,000. After five years it is possible for residency holders to then apply for Portuguese Citizenship.