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Algarve, Monchique, Portugal

€690,000
Portugal Sotheby's International Realty, Carvoeiro
PROPERTY TYPE

Plot

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Description

Property spanning about 10 hectares (24.7 acres) on the Algarve's highest point, Pico de Fóia, at an altitude of 902 meters above sea level. The extent of the sights depends on the cloudiness, and on some days the horizon stretches all the way to Cabo de São Vicente and Serra da Arrábida. There is a water spring (Fonte Santa - Holy Spring) on the edge of the property, as well as archaeological finds that confirm the historical importance of the site during the Knight Templars era, making this location an important tourist attraction and a must-see site for those on the Monchique-Fóia route.
The property includes eight ruins, so permission has been granted to build a 4 star tourist resort with up to 60 rooms, pool, as well as restaurant infrastructure to operate the tourist attraction, including terraces and panoramic bridges with a total construction area of 4.635 square meters, currently under approval with all project costs by the owner.
The project will be built with the least possible visual impact, along the property's slight slope, on an area spanning almost 30,000 square meters worth of urban potential.
Monchique is a municipality with an important tourism tradition, not only because of the historical significance of its hot springs, but also due to the beauty of sites like Miradouro de Fóia and its unique forest and mountain microclimate with more than 2 million tourist every year.
Tourism thus has a significant role in the municipality's economy, especially in terms of restaurants, handicraft, and shops in general. The land will be sold with a borehole and electricity.

Algarve, Monchique, Portugal

Approximate location

NEAREST AIRPORTS

Distances are straight line measurements
  • Faro(International)
    39.3 miles
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About the agent

Portugal Sotheby's International Realty, Carvoeiro

Rua do Povo do Burro, n.º 3 8400-502 Carvoeiro

Portugal Sotheby's International Realty, Carvoeiro

Artfully uniting extraordinary homes with extraordinary lives

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Notes

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This is a property advertisement provided and maintained by Portugal Sotheby's International Realty, Carvoeiro (reference 106180031) and does not constitute property particulars. Whilst we require advertisers to act with best practice and provide accurate information, we can only publish advertisements in good faith and have not verified any claims or statements or inspected any of the properties, locations or opportunities promoted. Rightmove does not own or control and is not responsible for the properties, opportunities, website content, products or services provided or promoted by third parties and makes no warranties or representations as to the accuracy, completeness, legality, performance or suitability of any of the foregoing. We therefore accept no liability arising from any reliance made by any reader or person to whom this information is made available to. You must perform your own research and seek independent professional advice before making any decision to purchase or invest in overseas property.

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