House T4 in Centro Faro with virtual tour

House for Renovation with Approved Plans | 320 m² Lot | Downtown Faro

Discover an excellent investment opportunity or home for yourself in the heart of Faro.

Set on a 320 m² lot, this single-family home enjoys a prime location, just a few minutes’ walk from the Municipal Market, schools, supermarkets, restaurants, shops, and services. Faro International Airport is only 10 minutes away.

The property is being sold with an approved renovation plan, allowing reconstruction to begin immediately.

As this is a listed property, the future owner may benefit from significant tax incentives associated with heritage restoration, namely:

• The possibility of requesting a refund of the Property Transfer Tax (IMT) after completion of the work, in accordance with applicable legislation;

• Exemption from Property Tax (IMI) for a period ranging from 3 to 5 years, subject to approval by the relevant authorities;

• Application of a reduced VAT rate of 6% on eligible renovation work.

Proposed Floor Plan

Basement

• Laundry room

• Gym with the potential to convert into an additional bedroom

• Storage area

Ground Floor

• Functional kitchen

• Living room and dining room

• 3 bedrooms, one of which is an en suite

• Full bathroom serving the two bedrooms

• Guest bathroom

• Terrace with storage room

 

Outside, the property features private parking for two cars, including pre-wiring for electric vehicle charging—a feature that is becoming increasingly valuable.

The design was carefully planned to create a modern, comfortable, and functional home, blending the charm of the original architecture with the demands of contemporary living.

The combination of its central location, the approved design, the tax benefits associated with the renovation, and the high potential for appreciation makes this property a rare opportunity in the Faro market, ideal for both permanent residence and investment.