For Sale, EUR 690,000
Monchique, Faro, Portugal
Property Type : Residential Lot
Property Style : N/A
Build Size : N/A
Land Size : 1,042,806 ft² / 96,880 m² Convert Land Size
Bedroom : 0
Bathroom : 0
Half Bathroom : 0
MLS#: 106180031
Property 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.
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Stand for Sale, Portugal,Faro,Monchique is a Monchique luxury Residential Lot listed for sale EUR 690,000. This high end Monchique Residential Lot is comprised of 0 bedrooms and 0 baths. Find more luxury properties in Monchique or search for luxury properties for sale in Monchique.