Vale Formoso, Algarve, Portugal

€1,050,000
5 5

Key features

  • Residents parking
  • Garage
  • Garden
  • Swimming pool
  • Detached
  • Terraced
  • House

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Ref no: INT240003

Exciting Building Project for an Upscale Villa near the Charming The Village development near Vale do Lobo in the Algarve.
For Sale | Approved Project | 432 sq.m | 2320 sq.m Plot | Swimming pool | Almancil, Loulé (Escanxinas)

New To The Market! Exciting Building Project for an Upscale Villa near the Charming The Village development near Vale do Lobo luxury golf resort in the Algarve – This exceptional land parcel, spanning 2,320m2, is gracefully nestled against a serene pine tree forest and comes with an approved architectural design for a contemporary and stylish villa encompassing 432m2 of luxurious living space. The villa will feature 5 spacious bedroom suites, modern living areas, a splendid swimming pool, and an array of opulent amenities, including a rooftop terrace with captivating sea views.

This visionary project is organized across four levels. On the ground floor, you'll find an inviting entrance hall, a guest cloakroom, an open-plan living area with a lounge that opens up to the poolside, a cozy sitting room complete with a fireplace, an elegant dining room adorned with a double-height ceiling and a gallery-like first-floor area, and a generously proportioned kitchen and breakfast room. Additionally, there's a ground floor bedroom suite that could also serve as a home office. Moving to the first floor, you'll discover a beautifully designed gallery landing, a sun-drenched master suite facing south, comprising a bedroom, a bathroom, a spacious walk-in dressing room, and a private terrace. The guest suite, also enjoying southern exposure, offers a bedroom, a walk-in dressing room, a bathroom, and a private terrace. There's also a third bedroom on this level with its own bedroom and en-suite facilities. Descending to the lower level, you'll encounter a fifth bedroom with an attached bathroom, a practical laundry room, ample storage space, and a double garage. The crowning jewel of this villa is the expansive 50m2 rooftop terrace, affording panoramic vistas that extend from the pine trees to the coastline. Outside, a sweeping driveway provides ample parking, including a covered parking area. The lush gardens will gracefully extend to both the villa's side and rear, seamlessly blending with the enticing swimming pool and covered terraces, all while ensuring utmost privacy. This visionary project has been meticulously crafted by Marcelo Santos of SMS Architects in Almancil.

It has already secured preliminary approval (RAN) and is currently awaiting final approval from the Loule Camara. As a rough estimate, the construction cost is projected to commence at €2,000 per square meter for the 432m2 area, totaling approximately €1.1 Million. At present, there exists a dated yet habitable villa measuring 198m2, featuring an entrance hall, a spacious living and dining area, a well-equipped kitchen, 3 comfortable bedrooms, 2 bathrooms, a practical garage, an inviting swimming pool, and charming gardens.

Project villa:
– reception hall
– guest cloakroom
– living room
– snug lounge area
– dining room with double-height ceiling
– kitchen with breakfast island
– Galleried 1st floor
– 5 bedrooms
– 5 bathrooms
– basement garage for 2 cars
– carport
– swimming pool
– roof terrace with a bar and seating area
– gardens

Current property:
– entrance hall
– living and dining room
– kitchen
– 3 bedrooms
– 2 bathrooms
– garage
– pool
– gardens

Location

Vale do Lobo epitomizes a haven of serenity and balance, nestled amidst the embrace of nature, fortified security, and a welcoming atmosphere. It stands as one of the prominent gems within the Golden Triangle region, known for its opulence and exclusivity in the Algarve. Vale do Lobo is celebrated for its prestigious stature, boasting two world-class golf courses: the Royal Golf Course and the Ocean Golf Course, both offering 18 holes of golfing excellence. Faro International airport is just 20 to 30 minutes away by car.

Floor plan

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Stamp duty calculator

£

Total stamp duty

43,750 £

Please note: These estimates are provided as illustrative figures for guidance only and cover only England and Northern Ireland. Cluttons is not authorised to give financial advice; the above calculator is not intended to be financial advice and should not be relied upon when making financial decisions. Please seek advice from a specialist financial provider.

Mortgage calculator

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Monthly repayments

39,924 £

These results are for a repayment mortgage and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.