Ferragudo, Faro

Typical old Algarvian house, dating from before 1951, for complete renovation, located on Travessa Joo de Deus in Ferragudo.The current single-storey house, with a floor area of 45 m2 and a traditional tiled roof, has previously undergone renovations for a corrected implantation area of 61 m2, where on the ground floor there are 5 rooms, and access to a 6m2 roof terrace that offers magnificent views of the river, canal and mountains.You can personalise this property to your liking! Here's the tip:En-suite bedrooms: Two spacious en-suite bedrooms, designed to offer privacy and comfort, guaranteeing a cosy atmosphere for residents.Additional Bathroom: In addition to the two suites, the house has an additional bathroom, extra comfort for residents and guests.Open Space Kitchen: The open space kitchen is an invitation to culinary creativity, allowing perfect integration with the living area. Equipped with modern equipment, it is the ideal place to prepare delicious meals.The property is located in the so-called urban rehabilitation area (ARU) of Ferragudo.The Urban Rehabilitation Area (ARU) is a territorially delimited area characterised by buildings, infrastructures, equipment for collective use and urban and green spaces for collective use that are in a situation of insufficiency, degradation or obsolescence, jeopardising the conditions of use, solidity, safety, aesthetics or salubrity, and which justifies an integrated intervention through an urban rehabilitation operation.Tax incentives:-On purchaseExemption from IMT on the purchase of property for refurbishment, where work begins within 3 years of purchase.-During the refurbishmentReduction of the VAT rate to 17%. Taxation at a rate of 6% for works involving the improvement, remodelling, renovation, restoration, repair or conservation of real estate or autonomous parts thereof used for residential purposes, (...) The reduced rate does not cover the materials incorporated, unless their value does not exceed 20% of the overall value of the services provided.IRS deduction up to a limit of 500 of the costs incurred with the refurbishment.-For housing or permanent rentalExemption from IMI for 3 years from the year of completion of the works, renewable by decision of the Municipal Assembly for a further 5 years.-For non-permanent rentalsTaxation of property income resulting from the lease at a rate of 5 per cent.Located in the stunning Algarve region of Portugal, Ferragudo is a charming and authentic coastal village that attracts with its picturesque beauty and unrivalled charm. Its narrow streets and whitewashed houses, adorned with colourful flowers, reveal a peaceful and welcoming atmosphere, perfect for those seeking quality of life and authenticity.This community offers a variety of housing, from traditional houses to elegant seafront flats with breathtaking views. In addition, the village has an excellent infrastructure with essential amenities such as supermarkets, shops, restaurants serving local cuisine and easy access to quality health and education services.The stunning beaches, secluded coves and picturesque cliffs are ideal destinations for relaxing in the sun or enjoying water activities. For those who appreciate history, the Castle of So Joo do Arade, dating back to the 15th century, offers a fascinating insight into the rich local cultural heritage.With a lively nightlife, diverse leisure activities and excellent gastronomic options, Ferragudo offers a lifestyle balanced between coastal serenity and urban conveniences. Its strategic location, access to nearby airports and good transport network make it an attractive destination for both residence and investment.