Prime Investment Opportunity in Portimão's Historic Heart

€179,900

2 Bedrooms
1 Bathroom
245 m² Total surface
245 m² Living area

Description

Situated on Rua Infante D. Henrique, named after the visionary prince who ushered in the Age of Discovery, this property is a beacon of promise in Portimão's historic heart. Nestled within the city's ARU (Áreas de Reabilitação Urbana), a historic enclave marked for urban regeneration, this property not only opens the door to significant renovation and tax incentives, it also provides the potential for exceptional returns for the astute investor. Priced at an extremely competitive €775 per square meter, covering an official expanse of 245 square meters, this could very well be the historic center's most compelling investment proposition. With tremendous architectural flexibility as its hallmark, it offers three existing floors and the enticing potential of a fourth. Imagine a rooftop patio with sweeping river views, multiple entrances paving the way for diverse configurations — from several flats to a majestic single-family residence or a fusion of the two. The property stands out not only for its architectural promise but also for its outstanding location. A short walk away lies the active marina, parks, diverse restaurants, and the grand Arade River. Located centrally in Portimão, this property has direct access to all vital services and amenities including top schools, leading health facilities, and a wide range of excellent shopping options. Also at its doorstep, the city offers everything from top-notch beaches and a vibrant boating scene to excellent golf courses, numerous dining options, lively nightlife, cultural festivals, and easy access to the stunning beauty of the Algarve region. For the savvy investor, this opportunity is golden: a chance to intertwine history, potential, and an unbeatable location into a formidable asset. Your vision, coupled with Portimão's charm, is set to yield unparalleled returns. Don't miss out on this distinctive investment opportunity. Reach out to us today!

Engel & Völkers Portimao

+351 282 071 131

Your advisor: Christel Artaud

Property ID: W-02T79O

Location: Portimão, Faro District

Portimão is the largest city in the Western Algarve with around 60,000 inhabitants and was once a place where boat building, sardine fishing and fish processing were the cities main activities. However, over the passing of the year’s most of this industry has been replaced by tourism, entertainment and services, making it a large residential city, in perfect harmony with its historic pedestrian center and riverside areas. This evolution has transformed the city into an attractive place to shop and admire its history and proximity to the river and the sea. The old and busy fishing docks have also been transformed into a long sidewalk integrated with the wooded squares of the old city where there is no lack of cafés, bars and restaurants to enjoy the excellent gastronomy and traditional pastries, with a clear view. Just 7 minutes from the city center is the iconic Praia da Rocha with its vast beach, crystal clear water and majestic cliffs that extend to the beaches of Amado and Vau. Complementing this postcard are numerous restaurants and beach bars and a nightlife that attract thousands of tourists and curious people every year. Its hub with public transport to various destinations in Portugal and Spain make this city a must-see for travelers and the surrounding population. At a short distance you can also visit the fishing villages of Alvor, Ferragudo and Carvoeiro, the spas of Monchique, Lagos (the city of the discoveries) and also Sagres. Faro airport is only 45 minutes away. Lisbon and Seville are roughly the same distance from Portimão (2H30).