Beautiful 2 bedroom Apartment for sale in Praia da Luz, Algarve
Enjoying a lovely outlook over the resort gardens, the 110m2 apartment offers a wonderful sense of privacy while remaining conveniently close to all the resorts excellent amenities.
The spacious and well-appointed property is complemented by a dedicated parking space in the secure basement garage and a good-sized private storage room, providing valuable additional convenience and practicality.
Residents and guests at Baia da Luz benefit from an impressive range of shared facilities, including a large adults-only swimming pool, a separate childrens pool, tennis cour...
Enjoying a lovely outlook over the resort gardens, the 110m2 apartment offers a wonderful sense of privacy while remaining conveniently close to all the resorts excellent amenities.
The spacious and well-appointed property is complemented by a dedicated parking space in the secure basement garage and a good-sized private storage room, providing valuable additional convenience and practicality.
Residents and guests at Baia da Luz benefit from an impressive range of shared facilities, including a large adults-only swimming pool, a separate childrens pool, tennis courts, and the popular Alloro Italian Restaurant, all located within the resort.
The beautifully maintained surroundings create a peaceful and welcoming environment in which to relax and enjoy the Algarve lifestyle.
The location is equally appealing. The golden sandy beach is just a short stroll away, while a wide selection of restaurants, cafes, shops and everyday amenities can be easily reached.
The historic harbour town of Lagos is only a few minutes drive, offering a vibrant marina, charming old town, excellent dining and a wealth of cultural attractions.
For golf enthusiasts, there are numerous prestigious golf courses within easy reach throughout the Algarve, while Faro International Airport is less than an hour away, making the property exceptionally convenient for both holidaymakers and international owners.
This is a luxurious permanent home, a stylish Algarve retreat or an attractive investment opportunity, this freehold apartment offers exceptional flexibility.
The resort provides a full management and rental service for owners who wish to generate an income from their property, while those seeking a permanent residence can enjoy the apartment and its superb location year-round.
A rare opportunity to own a private and beautifully located apartment within one of the Algarves most sought-after resorts combining resort amenities, beachside living, investment potential and the freedom of a permanent home.
Air conditioning
Tennis court
Heated floor
Elevator
Garage
Swimming pool
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This Apartment is located in Praia da Luz 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.