1 Bed Apartment for sale

Quinta do Lago, Algarve, Portugal

£220,206

 [€250,000]

Property Details

  • Bedrooms: 1
  • Bathrooms: 1
  • Habitable space: 67 m2

Features

  • DoubleGlass
  • Energy performance certificate – In progress

Full Description

The renowned Formosa Park Hotel Apartments, nestling in the protected Ria Formosa Natural Park overlooking the Atlantic ocean, are being totally renovated and refurbished to provide an incredible investment opportunity for freehold ownership with limited usage rights and rental guarantee.
Just 15 minutes from Faro Airport, the luxury hotel apartments are set in prime coastal real estate in the heart of the prestigious Golden Triangle, near award-winning golf courses, within walking distance of stunning Blue Flag Ancao beach and a short drive to shops and restaurants.
Work will begin at the end of 2018 (completion expected by summer 2019) to modernise 61 luxury one- and two-bedroom apartments and prime penthouse suites, with pool, garden or sea views, floor space of 67m2, start from 250.000€ up to 500.000€.
Already acknowledged as a quality resort in the region, the Formosa Park renovations will take the resort to new levels of luxury and the elegant, contemporary architecture and decor will blend seamlessly with the breathtaking natural environment. Resort facilities include a spa, restaurant and bar, pools, children's playground, tropical garden, 24hr reception, golf shuttle and privileged access to San Lorenzo and Pinheiros Altos courses.
Buyers are ensured an annual minimum return on investment of 5% of the sale price for the first three years, with a right to use the apartment up to 15 days a year (excluding June 15 – December 15).
Energy Rating: In progress
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This property listing (ref: FCFPH1GT) is an advertisement supplied by Fine and Country Algarve and does not constitute property particulars. While aplaceinthesun.com (APITS Ltd.) requests all advertisers supply correct details, it does not carry out checks on the information supplied and cannot be held responsible for any inaccuracies. Aplaceinthesun.com recommends seeking independent legal advice prior to any overseas property purchase.

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