New Build 4 bedroom Plot of land for sale with sea view in Meia Praia, Lagos, Algarve

1,250,000 EUR 1,075,000 GBP 1,350,000 USD

Reference: 235888

Plot Size: 0.39 hectares / 0.97 acres

Features

Terrace
Golf Resort or Nearby
Sea View
Turn Key Good Condition

Details

Large plot of land covering almost an acre, with building permission for a 4-bedroom villa with living space of 420m2 and with superb views over the beach and Alvor Estuary.

In addition to the generous living space , the plans also come with a swimming pool, basement, and terrace areas.

The land is part of an amazing resort, bordering the Alvor Estuary and Lagos Bay, surrounded by lovely landscapes, fauna, and flora, against a backdrop of blue, green, and golden waters, in an ever-changing scenery according to the tides.
Palmares is undoubtedly one of the last opportunities in Portugal to invest and build a dream villa within a short distance to the beach, an ideal blend of golf, beach, and luxury tourism.

This fascinating resort boasts a magnificent 27-hole golf course designed by Robert Trent Jones II, the famous American golf course architect, and has been awarded the best golf course in Portugal on seven occasions. The planning, construction, and operation principles of this 5-star tourist development are in harmony with the overriding principle of environmental sustainability - its construction density does not exceed 5.7% of the 191 hectares in total.
The resort master plan was carefully prepared having in account the natural beauty of the area, with all plots positioned in such a way to preserve the sea and/or estuary views. Building height limits are also restricted on all plots, and strict construction parameters are in force so that all units, without exception, enjoy sea views.

The residents of this unique resort enjoy the services of a 5-star Boutique Hotel, and of a magnificent Clubhouse.
The construction of a state-of-the-art hotel with 152 rooms is also in the plans.
There are also various other plots available for different sizes and prices.
Please do not hesitate to contact us for further details.

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Portugal Property Buying Guide

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.