Renovated 5 bedroom House for sale in Olhao, Algarve
Dating back to the 1920's, this house was originally a fishermans' warehouse where fisherman came to repair their broken nets with living quarters on the firstt floor. It is said that the family who lived there once owned one of the canning factories and that they used to play the piano (which in those days was very rare in Olhao
The house was exquisitely renovated in 2019 by the current owners. During the renovation, they put special care into the thermal and acoustic insulation and more generally in ensuring the comfort of year round living. ...
Dating back to the 1920's, this house was originally a fishermans' warehouse where fisherman came to repair their broken nets with living quarters on the firstt floor. It is said that the family who lived there once owned one of the canning factories and that they used to play the piano (which in those days was very rare in Olhao
The house was exquisitely renovated in 2019 by the current owners. During the renovation, they put special care into the thermal and acoustic insulation and more generally in ensuring the comfort of year round living.
While the house has been a very successful guesthouse since then, this stunning residence is equally suited as a private home, perfect for those who seek a sophisticated and serene lifestyle. With its carefully curated interiors, rich history, and an unbeatable location, this property presents a rare opportunity to own a piece of Portuguese heritage.
Situated in the heart of Olhao, the house enjoys a prime location that allows you to fully immerse yourself in the town's authentic character. The bustling markets, charming streets, and picturesque waterfront are all within easy reach, providing a vibrant yet peaceful environment.
The design of the house is a true masterpiece, where traditional Portuguese architecture harmonizes with modern elegance. The property features beautifully restored stone walls, arched doorways, and intricate tile work, all thoughtfully complemented by contemporary furnishings and luxurious finishes.
Inside, the 259m2 of living space, living areas are flooded with natural light, thanks to high ceilings and large windows that create a sense of openness and tranquility.
The open-plan layout seamlessly connects the living, dining, and kitchen spaces, offering a harmonious flow that is ideal for both everyday living and entertaining.
A winding staircase leads to the underground wine cellar.
At the back of the house there is a large storage space.
The house boasts 5 well-appointed en-suite bedrooms, each thoughtfully designed with comfort and style in mind. The first floor also hides a small terrace.
One of the most captivating features of the property is its expansive rooftop terrace, which offers breathtaking panoramic views of the town and the Ria Formosa. This rooftop oasis is the perfect place to entertain, relax in the sun, or simply take in the stunning sunsets that the Algarve is known for.
The rooftop is equipped with an outdoor kitchen, just perfect for preparing al fresco dinners. There is even a dumbwaiter connecting the rooftop from the ground floor.
While the house is steeped in history, it is also equipped with all modern amenities. Air conditioning, solar panels and a state-of-the-art kitchen are just a few of the features that ensure comfort and convenience in this beautiful home.
This charming town is known for its traditional whitewashed houses, Moorish influences, and lively markets. Here, you can explore narrow streets, savor local cuisine, and experience the warm community spirit.
Additionally, the property is just minutes away from the Ria Formosa Natural Park, a protected coastal lagoon system that is home to diverse wildlife and offers a range of outdoor activities, from boating to birdwatching. The Ria Formosa is also home to Ilha da Culatra and Ilha de Armona, with some of the prettiest beaches in the Algarve.
Conveniently located just a short drive from Faro International Airport, the house is easily accessible, making it an ideal home for both permanent residents and those looking for a luxurious holiday retreat.
This is much more than just a property; it is a unique blend of history, elegance, and modern living in one of the Algarveas most enchanting towns.
Whether you are seeking a primary residence, a luxurious second home, or an investment property, this property offers an unparalleled lifestyle opportunity.
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This House is located in Olhao in Portugal
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Buying a Property in Portugal
1. Signing a Letter of Intent
On finding a property you wish to purchase, your agent will draw up a 'Letter of Intent, this will be signed by both parties, vendor and buyer. Copies of this will be given to the legal representatives of both parties and will be used in preparing the Promissory Contract. Included in this letter will be the price, what is included in the sale, furnishings etc. and any conditions of the sale plus the dates for both exchange and completion.
2. Exchange of Promissary Contract (Contrato Promessa de Compra e Venda)
The buyers lawyers are responsible for drawing up the promissory contract (Contrato Promessa de Compra e Venda) and as part of the process they will have carried out the legal searches and made sure that there are no charges, e.g. utilities, property tax etc. against the property. The contract will contain details of both parties and include clear title of ownership, when payments are due to be made, the completion date and an inventory, if required. The Promissory Contract is legally binding and will generally be signed by both parties and witnessed by a notary/lawyer. The contract will include penalty clauses in case either party does not fulfill the terms of the contract. A 10%, non-refundable deposit is required at this point, this will be paid to the vendor, through the lawyer's client account. Once the contract has been signed, if the vendor pulls out of the contract, they will be obliged to pay back double the deposit to the purchaser. If the purchaser pulls out, they will lose their deposit.
3. On Completion
The amount of time between signing the Promissary Contract and Completion will vary and will have been agreed in the contract. Before Completion your lawyer will need to arrange with a fiscal representative for you to obtain a Portuguese Fiscal Number. The official Deed of Transfer of ownership (the Escritura) will be signed by you (or someone representing you with your Power of Attorney), this is signed at the Notary and they will retain the document. The Deed will be read aloud by the Notary before all participants sign it. Your lawyer will need to check to ensure that you understand what is being said if you do not understand Portugese. The Escritura, once it has been signed, will officially give you ownership of the property, but will still need to be registered in your name on the Land Registry (Registo Predial) by your lawyer. Your lawyer should obtain a copy of this for your records. Once you have completed, the new utility contracts can be transferred into your name by your lawyer.