Frontline 2 bedroom Apartment for sale with lake or river view in Olhao, Algarve
Situated on the top floor of the exclusive Del Mar Waterfront development, in front of the Marina of Olhao.
With 163.5 m2 of private gross area, this elegant property provides an exceptional experience of living in the Algarve, combining contemporary architecture, high-quality finishes and a privileged location. The large balcony invites you to enjoy the natural light and panoramic views over the Ria Formosa, creating a perfect environment to relax and enjoy ...
Situated on the top floor of the exclusive Del Mar Waterfront development, in front of the Marina of Olhao.
With 163.5 m2 of private gross area, this elegant property provides an exceptional experience of living in the Algarve, combining contemporary architecture, high-quality finishes and a privileged location. The large balcony invites you to enjoy the natural light and panoramic views over the Ria Formosa, creating a perfect environment to relax and enjoy the surrounding landscape.
The apartment has two en-suite bedrooms, both with private balconies and open views over the Ria, providing comfort, privacy and a permanent connection with nature. It also has a guest bathroom for visitors.
The interiors are modern and bright, with underfloor heating in the bathrooms, linen-clad walls and air conditioning. The spacious living room in open space concept, integrated with a fully equipped kitchen, creates a sophisticated and welcoming environment to live and receive, with direct access to the balcony.
Please be advised that the penthouse is sold without furniture. The images presented include virtual home staging created using artificial intelligence, just to illustrate the potential of the property.
The property also includes two parking spaces in a private garage, ensuring comfort and security.
Del Mar Waterfront is a private condominium designed to provide an exclusive lifestyle by the sea, with excellent amenities for residents. The development has four outdoor pools, including one for children, and two rooftop pools with panoramic views over the Ria Formosa.
It also has a heated indoor pool and a modern gym, both with direct views of the Ria, creating a unique environment to relax and take care of your well-being.
The location is truly privileged. The emblematic Olhao Market, the marina and the city's excellent restaurants are just a few minutes' walk away. The paradisiacal beaches of the Ria Formosa and several golf courses are less than 10 minutes away by car, while Faro and the International Airport are just 15 km away.
An exceptional opportunity to acquire a new penthouse with spectacular views over the Ria Formosa, in one of the most beautiful settings in the Algarve.
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This Apartment is located in Olhao in Portugal
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Buying a Property in Portugal
1. Signing a Letter of Intent
On finding a property you wish to purchase, your agent will draw up a 'Letter of Intent, this will be signed by both parties, vendor and buyer. Copies of this will be given to the legal representatives of both parties and will be used in preparing the Promissory Contract. Included in this letter will be the price, what is included in the sale, furnishings etc. and any conditions of the sale plus the dates for both exchange and completion.
2. Exchange of Promissary Contract (Contrato Promessa de Compra e Venda)
The buyers lawyers are responsible for drawing up the promissory contract (Contrato Promessa de Compra e Venda) and as part of the process they will have carried out the legal searches and made sure that there are no charges, e.g. utilities, property tax etc. against the property. The contract will contain details of both parties and include clear title of ownership, when payments are due to be made, the completion date and an inventory, if required. The Promissory Contract is legally binding and will generally be signed by both parties and witnessed by a notary/lawyer. The contract will include penalty clauses in case either party does not fulfill the terms of the contract. A 10%, non-refundable deposit is required at this point, this will be paid to the vendor, through the lawyer's client account. Once the contract has been signed, if the vendor pulls out of the contract, they will be obliged to pay back double the deposit to the purchaser. If the purchaser pulls out, they will lose their deposit.
3. On Completion
The amount of time between signing the Promissary Contract and Completion will vary and will have been agreed in the contract. Before Completion your lawyer will need to arrange with a fiscal representative for you to obtain a Portuguese Fiscal Number. The official Deed of Transfer of ownership (the Escritura) will be signed by you (or someone representing you with your Power of Attorney), this is signed at the Notary and they will retain the document. The Deed will be read aloud by the Notary before all participants sign it. Your lawyer will need to check to ensure that you understand what is being said if you do not understand Portugese. The Escritura, once it has been signed, will officially give you ownership of the property, but will still need to be registered in your name on the Land Registry (Registo Predial) by your lawyer. Your lawyer should obtain a copy of this for your records. Once you have completed, the new utility contracts can be transferred into your name by your lawyer.