The Algarvian Coast
In the last 20 years the Algarve coast has been a strongly developing turistic area. While eastern Algarve has been fully developed, the western coast remains unharmed. The Porto do Mòs property is close to the historic harbour town of Lagos, the former capital of the Algarve. This beautiful town is famous for its ancient XV th century buildings, countless typical local restaurants and bars, colorful markets, golf courses and harbour facilities which include a recently built modern marina. Lagos is 1 hour from the Faro International Airport.
The Property
23'800 m2 of prime land on the coastline, 2 km from the center of Lagos and part of the municipality of the city of Lagos. This property has an approved urban development status (i.e. not subject to newly developed building restrtiction laws). The property can be devided into separate lots. Water and electricity are available on site.
The Market
After the 1990-1995 real estate slowdown, the market seems to get back into its tracks, specifically in regards to exclusive luxury developments that have shown little or no slowdown at all in the last 10 years. After the new laws for protection of nature, the Porto do Mòs property is one of the last urbanization sites in the algarvian coastline that retains fully its urbanization status.
The architectural project
The project was developed in conjunction with the local authorities, taking into consideration the legal limitation that rule this area. The OASIS project is a preliminary feasability study and has not been presented for final construction approval. The OASIS architectural Project is property of Portolagos Lda.
Sale of the property
The land is property of Portolagos Lda, a Portuguese Company which, in turn, is owened by two offshore companies. This eliminates a considerable amount of administrative complications involved in a change of ownership, as well a the local resale tax (SISA tax, 12%). The property is for sale as is, architectural project included. Real Estate agency commission to be determined. Asking price: SFr. 2'230'000.-
A partnership for the development of an urbanization project is considered as well. Please contact us for any additional information.