Unique Investment Opportunity in Olhão – Approved Project for a 9-Bedroom Villa with Pool

€495,000

~178 m² Total surface
~18,000 m² Plot surface

Description

Discover the unmatched potential of this property, located in the serene area of Olhão, featuring a recently approved project for the construction of a 9-bedroom detached villa with a pool. Set on a vast 18,000 m² agricultural plot, this property is distinguished by its peaceful surroundings, low neighbour density, and charming traditional features. Key Features: Approved Project: The property includes a building license for 1,500 m², featuring nine en-suite bedrooms, rooftop terraces, and a basement garage. Existing Structures: Includes an old farmhouse in ruins, which can be renovated or expanded, maintaining the traditional Algarve architecture. Extensive Agricultural Land: The land is home to a variety of mature fruit trees, such as fig, olive, carob, citrus, and almond trees, along with orchards and wooded areas. Traditional Features: The property includes a well, a waterwheel, and a cistern that can be converted into a pool, preserving its rustic charm. Location and Access: Situated at the highest point of the plot, the property offers stunning views of the Algarve's rural landscape. Accessible via a shared path just 50 meters from a tarmac road, with an additional private access path at the opposite end of the property. The gently sloping land and terraced layout provide a unique and versatile setting for a variety of uses. Perfect for: Family Residence: Ideal for those seeking a private rural retreat with ample space and tranquility. Agro-Tourism or Holiday Rentals: With the approved project and agricultural features, this property is perfect for a sustainable tourism project in the Algarve. Agricultural Use: The fertile land is ideal for farming or maintaining the existing fruit-bearing trees. This property is a true hidden gem, blending history, natural beauty, and development potential. Contact the Engel & Völkers Faro-Tavira team today for more information or to schedule a private viewing.

Features

Open view

Engel & Völkers Faro-Tavira

+351 938 533 413

Your advisor: Marta Jesus

Property ID: W-02XWQI

Location: Quelfes, Faro District

This property is located in Quelfes, Olhão, Algarve. Olhão is a municipality with a strong fishing tradition and a deep emotional connection to the Ria Formosa, Olhão boasts a newly inaugurated seaside promenade, marina, and recreational port. Here, you can dock your boat or take one of the ferries or water taxis that make daily crossings to the magnificent islands of Armona, Culatra, and Farol. This is a region of shellfish gatherers and high-quality fresh seafood, resulting in a proliferation of fine-dining restaurants in the city. Olhão is also famous for its fresh fish market and open-air markets selling local products. It is in this municipality that Quinta de Marim is located, known for its work in preserving species of the Ria Formosa Natural Park. In recent years, Olhão has been discovered by many foreigners and chosen by numerous artists to establish their studios. The municipality comprises the parishes of Olhão, Pechão, Quelfes, Moncarapacho, and Fuseta. With a history closely tied to the canning industry, Fuseta is now highly sought after by water sports enthusiasts, including sailing, windsurfing, and kitesurfing. Olhão has easy access to the A22 highway (Via do Infante) and is located approximately 20 minutes from Faro International Airport. In addition to restaurants, this city offers a wide range of services and amenities, such as both public and private schools, the International Clinic of Olhão, Ria Shopping mall, pharmacies, police, banks, bus and train stations, and public swimming pools.