Carvoeiro Terraces offers 9,346 sq.m. of land for an aparthotel with 120 units, serviced apartments, or senior living project.
The plot is located in Carvoeiro—voted 'Best Beach in Europe' by European Best Destinations and one of the best-preserved areas of the Algarve —1 km from the coast and just 40 mins away from Faro’s international airport.
Development license (“alvará de loteamento”) approved for a maximum of 120 one-bedroom apartments and 8,284 m2 of GCA above ground;
Infrastructure works completed;
Good accessibility; restaurants, bars and other amenities nearby;
Surrounded by quality, low-rise resorts and residential areas (and rural land to the north);
Several golf courses nearby;
Sea views to the south from all floors and rural land to the north;
Portuguese legislation allows aparthotel developers to sell all units and owners to occupy their units throughout the year. Rentals and bookings must be managed by the aparthotel operator;
Portugal’s Tourism Board also allows a hotel here (as an alternative to an aparthotel)—pending official approval from the Municipality.
Carvoeiro is a popular upmarket tourist destination, preserving much of the charm of its origins as a fishing village.