01. Are the apartments new?
The apartments were originally built in 1957 and the regeneration project by MESPIL will commence February 2020
No.9
Property for sale in Faro, Portugal
from€ 370 000
Introducing No.9, Faro in the Capital of the Algarve. A mixed development of 3 buildings each with 6 large apartments in a 1950’s building, perfectly located in this prime city location brought to market turn-key. With a build area of 400m2 in each of the buildings, this project offers a number of different 2 Bedroom options – ground floor coming with private garden, and first and second floor units all with terraces and access to a private rooftop garden.
- Rua Dr José De Matos Nº 9,
Faro, Portugal
No.9 Faro Apartments For Sale
Faro, the Capital of the Algarve; Beautifully designed two-bedroom apartments; 350K Golden Visa Eligible; Building 1 of 3; Furniture included; 4% NET Rental Yields; 360 Management of your property investment; All units with private terrace also have access to a private rooftop garden.
T2 from € 370 000
Beautifully designed two-bedroom apartments for sale; All units with private terrace also have access to a private rooftop garden.
Floorplan - A, ground floor, left Floorplan - B, ground floor, right Floorplan - C & E, left Floorplan - D & F, rightLast number of units released
| Unit | Floor | Type | Area | Price | Status |
|---|---|---|---|---|---|
| A | Ground Floor | T2 | 99.20 m2 | € 370 000 | Available |
| C | First Floor | T2 | 114.20 m2 | € 370 000 | Available |
| D | First Floor | T2 | 114.20 m2 | € 370 000 | Available |
List of Sold Out Apartments in No.9 Faro
| Unit | Floor | Type | Area | Status |
|---|---|---|---|---|
| B | Ground Floor | T2 | 114.80 m2 | Sold Out |
| E | Second Floor | T2 | 114.20 m2 | Sold Out |
| F | Second Floor | T2 | 114.20 m2 | Sold Out |
Faro Real Estate Location Guide
Faro is one of the most attractive property investment locations, with a great range of natural parks, beautiful attractions, preserved lagoons and entertainment opportunities. Many options to keep everyone excited!
Read the guideCheck out a virtual tour on No.9 Faro with MESPIL
Join us to safely view No.9 Faro from the comfort of home, you will find individual videos created on the building itself, the apartments and a short introduction to the surrounding area and Faro in general. Enjoy!
No.9 Faro, Building Intro
2 Bedroom Ground Floor Apartment
2 Bedroom First Floor Apartment
2 Bedroom Second Floor Apartment
Private Rooftop Garden
Introduction to Faro
No.9 Faro Fast Facts
No.9 Faro is brought to market as a full turn-key Portugal Golden Visa property investment ideal for buyers looking for a home in an exciting European city, or for property investors looking for strong capital appreciation investments and guaranteed rental yields.
Golden VisaEligible
4%NET Rental Yields
FurnitureIncluded
No.9 Faro FAQ
02. When does the renovation start and when is it finished?
February 2020 and will take approximately 3 months to finish with occupants taking residence around May this year.
03. Are the units sold furnished?
Yes, all apartments are brought to market turn key. The properties have been designed and fit out by a local interior designer.
04. Is there parking included?
There are no designated parking spaces with the building however there is plenty of parking on the street and immediate area both free and paid options.
05. Is the rooftop terrace private?
Yes, the rooftop in No.9 Faro is a completely private space and it has been divided so that each apartment on the first and second floors has been allocated a private space for their personal use.
06. Is there security or alarm installation?
The building will be accessed via keyless/touch pad. The management company will discuss with all owners the level of security required however Portugal is number 3 in the world for safest countries.
07. If I choose to sign up for a rental contract can I use the apartment myself and if so for how long?
No, the rental contracts for Faro will focus on long term rentals ie: 12 months. However should you wish to visit for a number of weeks there are plenty of options locally to rent which might be an option.
08. What are the condominium cost and what is included?
The Condominium fees will be set between the management company and the property owners however an approximate figure of €100 per month to cover cleaning of the entrance hall way, common areas, communal lights and building insurance is a good estimate.
09. What is the yearly IMI tax?
Taking comparable properties as a guestimate, you should expect to pay around €150 per year.
10. What tax do I need to pay for the purchase?
The purchase tax is around 6% of the purchase price. Eg: a purchase price of €320.000 (€50.000 of this the renovation cost) you would pay IMT tax of €14.564.75 and stamp duty 0.8% €2560 which is a total purchase tax of €17124.75
11. What is the heating system?
The building has a brand new aircon heating and cooling system.
12. Is there a tumble dryer included?
Yes, each apartment will be fitted with a washer/tumble dryer.