Rare opportunity in Loule Centre - Approved rebuilding project

Villa in Loule, Central Algarve
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Quick Summary

Reference:
DFF-PG
Region:
Central Algarve
Location:
Loule
Price:
€235 000
Property Type:
Villa
Built Area:
157 m2
Plot Size:
83 m2
Bedrooms:
3
Bathrooms:
4
Pool:
No
Airport:
18 km
Golf:
10 km
Beach:
15 km

Property Description

Unique opportunity to acquire a traditional Portuguese townhouse with an approved project for rebuilding. The project consists in total of 3 bedrooms, with a large sunny roof terrace in quiet location in the historic centre of Loulé and in very short distance to all amenities. The project consists of a large garage on the ground floor and a small self-contained flat with separate entrance including a wooden mezzanine. On the upper floor is planned a living-dining room with open plan kitchen solution and a mezzanine ( can be used as an extra bedroom with small bath room and storage), furthermore one bedroom ensuite. Please note: The reduced VAT rate of 6% applies to urban renovation works on properties in urban regeneration areas. In addition, the purchase of municipal buildings for the purpose of urban regeneration is also exempt from IMT tax, provided that the purchaser starts the work within three years of the purchase. Municipal buildings undergoing refurbishment can be exempt from IMI for a period of five years from the year in which the refurbishment is completed. Note: The municipality must still certify that the property is located in a redevelopment area. Energy certificate class N.A..

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