€250,000

House for sale Silves
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Overview

SUMMARY: Discover an opportunity with this Silves house for sale and available for €250,000. This could be your next ideal home or a smart investment. More details await.

Discover an Exceptional project in the Heart of Historic Silves! This character-filled building, boasting 240 sqm of gross floor area, is a true testament to the refinement of traditional Portuguese architecture. Its generous volumes and noble structure offer

a rare blank canvas for the discerning buyer. The property is sold with a pre-approved architectural project, freeing you from administrative constraints and allowing you to begin renovations immediately. A Versatile Project with 3 different visions: Premium Investment:The current approved project allows for two high-end independent apartments. A 103 sqm two-bedroom unit on the ground floor, and a stunning 130 sqm two-bedroom unit on the first floor featuring an interior patio and private access to a spectacular 72 sqm Rooftop with a swimming pool, offering panoramic views over the city rooftops and the surrounding hills. A Prestigious Private Residence: For those dreaming of a unique family home, a second project has been designed to merge both levels into a single, majestic manor house, blending historic charm with contemporary luxury. Live/Work Opportunity: A third option can be explored by dedicating the ground floor to a commercial space with a private residence on the first floor. Located within a Urban Rehabilitation Zone (ARU), this property represents a rare heritage opportunity. The buyer can benefit from major tax incentives under Portuguese law, including a significant VAT reduction on renovation works, as well as exemptions or reductions in IMT (Property Transfer Tax) and IMI (Annual Municipal Property Tax). In a historic center where parking is a premium, this property offers the option to purchase a 40 sqm private closed garage nearby, providing secure space for two vehicles. Silves, a city of history and character, captivates with its cobblestone streets, peaceful atmosphere, and iconic red-walled castle. Experience a rare quality of life just 20 minutes from Algarve's finest beaches and 45 minutes from Faro International Airport. Note: The sale price does not include the renovation costs. Contact us: For further information or to receive the complete project file. Energy Rating: A #ref:PALC 211 - PALC 211 - PORTUGAL A LA CARTE

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Details

  • Beds: 4
  • Baths: 4
  • Price: €250,000
  • Reference No.: 174382181

Location

Marketed by:

  • PORTUGAL A LA CARTE
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