Portuguese Property (With Spanish Views) Facts and Prices

This exclusive quality build riverfront Portuguese property on the northern border with Spain is available for sale;

Property with 9000 sqm of Urbano title land and long riverfront border

Offers invited in excess of €800,000 Euros

Option 1 - Additional 1500 sqm of (agricultural / horticultural) land + €40,000
1500 sqm of land on a separate title deed / number that guarantees privacy along the property's southern border. This land is higher than and alongside the entrance drive to this property. Therefore anyone standing on it looks down onto the property grounds. This additional land is already fenced and treed off along its own southern border, providing both a further private garden / grounds area and privacy for the main property itself.

Option 2 - A further 3200 sqm of (mixed zone) land + €90,000
Please see: Extra Building Land - Available separately for €90,000 this parcel of land combined with the main property's grounds and the other above extra land option would increase the total footprint to 13,700 square meters. Perfect for building a fairly substantial house or for use as grazing with stables.

There are some property land purchase taxes in Portugal; please see below.

Notes / Interesting Facts:

1) All existing quality wood and leather furniture (retail circa 37,000 Euros) available for €20,000 Euros.

2) The main / original 9000 sqm of land is Urbano title and possibly two additional houses could be built where there are currently grape vines and a fruit orchard. The buyer could therefore possible lessen their investment by separating and selling this land off to a builder / developer, or they could possibly build additional properties themselves to use, sell, lease or rent.

3) Because of the location very close to the Vigo Dry Port (Vigo port expansion) and a station on the Iberian high speed rail link both due for completion in 2013-2014, certain local real estate prices are expected to rise steadily even dramatically over the next 10 years. Exclusive properties such as this one are likely to do very well because of the creation and influx of wealth; the rise in senior commercial management looking for special homes.

4) In 2007 the current owners had a valuation of this property (with 10,500 sqm of land) of €1.4 million Euros. This admittedly was a speculative price and before the global recession, but it does give you an idea of the mid to long-term investment potential of the property as prices generally have not changed that much in this area.

To Make An Inquiry:

Contact the present owners directly: requires Javascript to be enabled - if you can not see / click the email link, type out

Other;

There is a tax "IMT or Imposto Municipal sobre Transamissões" and "Stamp Duty" on all property purchases in Portugal. The IMT for our property we understand is 6%, the stamp duty is 0.8%. The IMT for building land is 6.5%, stamp duty 0.8%

Be aware many sellers / agents under-quote IMT on the basis they expect the buyer to agree to declaring a lower than actual purchase price. Although this practice benefits the seller (less capital gains tax if they are down-sizing or are a developer) and buyer (slightly less annual property tax / rates), there is a risk; the government has the right to compulsory buy a property within 6 months for the declared purchase price if they suspect such fraud (and the buyer is unable to substantiate what they paid). The current owners of this property do not expect a buyer to agree to a lower declared purchase price; the offered selling priced is based upon declaring the full purchase price.

Please note: land sizes are estimations based on aerial photography and on the grounds within the walls / fencing (the private grounds); this does not include the river bank area itself of course.

Adjoining woodland (7,200 sqm) just out of view to the left of the above photo was recently offered to the present property owners for €100,000, if any buyer is interested Although the woodland can never be built upon, just adding it to the existing land parcel should see its value immediately double. The local council / camara have plans to compulsory purchase part of this woodland at some stage to use as grounds for the camp site they are building nearby (see map on extra building land page). This is actually a very good thing for this property and likely increase its value. It is therefore probably wise to wait before buying the section woodland actually next to this property and not destined for acquisition by the council / camara, not least as the price per square meter may actually come down. The IMT for rustic land is 5% plus stamp duty again at 0.8%

The owner of the riverfront agricultural land west of this property has also said he would sell if the price was right. No building rights / permits would go with this land but it would allow expansion and an overall increase in the value of this property.

Property Facts:

Set out over three floors, the lower floor is part built into the ground, the upper floor is within the roof.
Recently installed oil fired central heating (it gets cold in winter) and fully insulated roof (insulates against heat in summer and cold in winter).
Air conditioned lower floor TV lounge and dining room, with adjacent large fully fitted kitchen which itself leads out onto an outdoor granite dining area with spectacular river / mountain views.
Long private "kubos" granite laid driveway leading from video / door entry system controlled front electronic gates (both double vehicle and single person gates), goes down all the way around our house and down to our river gate (manual).
Large gate house which doubles as a dog pen.
Large separate garages for 3 vehicles plus adjacent large dog pound.
Full sized (11.8 m x 5.8 m - exluding steps and children's pool) swimming pool with children's section, fenced and gated for child safety. The concrete pool was built by one of the leading Spanish companies with strong foundations and a 20 year guarantee.
Large water fountain next to house and family garden area, again fenced and gated for child safety and to prevent dogs from entering the area; family garden with large stone bbq has big established cork oak tree in it which is a perfect shade tree.
Five bedrooms, one with en suite bathroom and large balcony overlooking private grounds and river. Two of these bedrooms are on the top floor and are perfect guest rooms, with the other three on the middle family floor and benefiting from a large family bathroom.
Telephone line (with broadband), mains electricity and mains water, plus very good mobile (with data) cover from both Spain and Portugal (useful for phone and Internet backup), and a large parabola satellite TV dish which currently feeds two British SKY TV boxes (very good signal) in different areas of the house.
Large duck pond / irrigation tank which is fed by a small natural water spring and / or a river water pump (licensed); this tank feeds the ground's irrigation systems including sprinklers and drip emitters.
Extensive mostly granite pathways around the grounds, including 3 sets of steps down the bank section of our grounds to the lower perimeter fence / conifer hedge screen.
Grounds completely walled / fenced to height of 2 meters. We have a burglar / intruder alarm with mobile phone connection also. Although this is a virtually crime free area, our security (including dogs) make us a very unattractive proposition for what criminal activity there is or one day may be.
Large chicken house and coop away from the house (can barely hear them) near the river gate, allows us to have free range chickens which are protected from wildlife, etc. Plum and other trees / bushes help screen this out of house view.
Large vineyard (255 vines) with wine and several types of eating / table grapes, plus 6 kiwi fruit vines.
Fruit orchard (cherry, peach, plum, apple, pear, apricot, nectarine, lemon, lime, mandarin, navel orange) with adjacent greenhouse.
Large rock garden runs alongside large part of driveway down to river.
Large bank / hill section of grounds planted with many fruit and nut trees (mostly cherry plus hazelnut, almond, strawberry and pineapple guava, cooking and eating apple, Asian pear, pomegranate, walnut, nispero and quince used to make marmalade) plus flowering and erosion control bushes / plants (yellow jasmine, etc.).
Large circular flower garden outside the lower floor TV lounge.
Flower garden and summer house next to the duck pond; fence around pond has passion fruit, clematis and other vines growing on it.
Vegetable and second fruit tree (red / black and white figs, persimmon, arbutus, apple, pear, guava, pomegranate, Asian pear) garden area near to the river / lower perimeter fence. Granite slab and Nerium Oleander flowering bush walkway runs alongside the perimeter fence which is also planted with a cypress bush / tree screen.

Original architect plan below: perimeter wall / fence, garages and pool have since been added, plus extra land bought / added.