Income Producing 3 bedroom Villa for sale with panoramic and countryside views in Olhao, Algarve
This impeccably refurbished 3-bedroom luxury villa includes a large heated pool, sauna, Jacuzzi, workshop, and greenhouses and much more.
Refurbished to perfection in 2021, the villa features state-of-the-art amenities, including:
Photovoltaic and solar energy systems for reduced environmental impact
Fully upgraded plumbing, electrical systems, and double glazing
Premium kitchen appliances
Efficient air conditioning and central heating throughout.
Location :<...
This impeccably refurbished 3-bedroom luxury villa includes a large heated pool, sauna, Jacuzzi, workshop, and greenhouses and much more.
Refurbished to perfection in 2021, the villa features state-of-the-art amenities, including:
Photovoltaic and solar energy systems for reduced environmental impact
Fully upgraded plumbing, electrical systems, and double glazing
Premium kitchen appliances
Efficient air conditioning and central heating throughout.
Location :
Situated on the crest of a gentle hill, the villa enjoys a coveted south-facing orientation with sweeping views of picturesque olive orchards and the vast Atlantic Ocean.
Hidden within the olive grove lies a 187m2 historic ruin, ideal for conversion into a charming guesthouse.
Adjacent to the ruin is a large, original water tank perfect for transforming into a private guest pool.
The property spans over 7 hectares, including:
- 6 hectares of mature olive trees producing high-quality Picual, Frantoia, and Mecanilla olives
- Automatic irrigation and fertilization systems for efficient maintenance.
- 1 hectare of private grounds encompassing beautifully landscaped gardens, a long olive and rosemary lined cobblestone driveway, and leisure spaces.
The interior of 236m2 comes with a spacious entrance hall featuring a guest wc and storage.
Key interior highlights include:
Two inviting sitting rooms, perfect for relaxation
A fully fitted, modern kitchen with an adjacent laundry room
A formal dining room with garden and pool terrace access
The first floor offers:
A large open space leading to an expansive terrace with stunning views.
Three bedrooms, including a lavish master suite with a private dressing room and en-suite facilities
A centrally positioned guest bathroom.
The versatile outdoor space includes:
- A garage currently used as a workshop, plus a small store room
- Three additional rooms for technical equipment
-Sauna, double carport with EV charging station, and a large water storage tank.
Greenhouses & Olive Business Potential:
Among the olive groves, approximately 3,000 m2 of greenhouses and a fully operational packing area with wc available.
This well-established property meets the high demand for premium-quality Portuguese olives, with Portugal ranking as the fourth-largest exporter of olive oil globally.
This rare property offers an unparalleled blend of luxury living, investment potential, and sustainability in the heart of the Algarve.
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This Villa 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.