Exclusive 5 bedroom Villa for sale with sea view and panoramic view views in Loule, Algarve

4,750,000 EUR 4,085,000 GBP 5,130,000 USD

Reference: 246047

Bedrooms: 5
Bathrooms: 8
Floor Size: 822 m2

Features

Terrace
Garden
Land
Private Pool
Sea View
Panoramic View
Outstanding View
Quiet Area
Parking
Ultramodern Style
Turnkey
New Build or Off Plan

Details

Excellent opportunity to purchase an exclusive turnkey 5 bedroom luxury villa, which is situated in a prime location and has stunning sea views, located on the outskirts of the most renowned resorts of Central Algarve, with guaranteed privacy yet within easy access to all amenities and only 25 minutes to the Faro International Aeroport.

Built using high-end materials and equipment, this superb villa is framed on a singular and large plot of 37,000m2 on the south side of a hill located between Vilamoura and Loule, offering unique and unobstructed views over the coast and the Atlantic Ocean.

The project is fully licensed, building works can start immediately. Privileging privacy in all areas of the property is one of the main features of this project.

Despite the proximity of some neighbours, the location of the house was strategically designed to make the most of the panoramic view but mainly to allow an elevated position over other properties, thus guaranteeing maximum discretion and tranquility not only inside, but, above all, in the exterior areas of the property.

Exclusivity was the main point of inspiration for this project, offering the owners all the luxury and comfort that a property in this segment should provide. Maximum quality is thus ensured in every detail. Should the new owners wish to make changes to their liking, the project allows for a wide variety of alterations to the interior layout without compromising the construction work schedule, as these changes can be submitted for approval even with construction already underway. If necessary, it is also possible to change the general structure of the property, provided that the approved construction area is not exceeded.

CHARACTERISTICS:
Plot Area: 37,000 m2 | 398,265 sq ft
Area: 822 m2 | 8,848 sq ft
Useful area: 567 m2 | 6,103 sq ft
Building Area: 822 m2 | 8,848 sq ft
Bedrooms: 5
Bathrooms: 8
Garage: 4
Energy efficiency: A

FEATURES:
Plot of land with 37,000m2
Luxury villa
Project approved
5 bedroom suites
Sea views

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Portugal Property Buying Guide

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.