Unique Investment Opportunity in the Heart of Portimão with Rehabilitation Potential

Unique Investment Opportunity in the Heart of Portimão with Rehabilitation Potential

Property located in the very centre of the city, with a total area of 100 m², currently comprising a residential unit with an associated commercial space, inserted in a building requiring complete refurbishment, making it ideal for an urban rehabilitation project or investment.
In accordance with the Legal Regime of Urbanisation and Building (RJUE – Decree‑Law No. 555/99) and current urban planning practice, there is the possibility of changing the use of the commercial space to residential, subject to verification of the Municipal Master Plan (PDM) parameters and municipal licensing. The conversion into parking space may also be considered, providing the property with a high level of versatility.
Its location is one of its main highlights: situated within short walking distance of Manuel Teixeira Gomes Square, with pedestrian access to banks, restaurants, shops, services and the iconic Riverside Area, one of the most valued and sought‑after areas of the city.
The property is located within an Urban Rehabilitation Area (ARU) and benefits from the corresponding tax incentives provided for under the Legal Regime of Urban Rehabilitation (Decree‑Law No. 307/2009), namely:

Reduced or exempt Municipal Property Tax (IMI) after rehabilitation works
Reduced or exempt Property Transfer Tax (IMT) when acquired for rehabilitation
Reduced VAT rate (6%) on urban rehabilitation works
Potential access to other municipal incentives currently in force

There is also the possibility of creating a rooftop terrace, subject to technical feasibility and municipal approval, with potential views over the Arade River, adding a strong differentiating factor and future value appreciation.
Excellent opportunity for investment, owner‑occupation or rehabilitation project with favourable tax framework, in one of the most central and authentic areas of the city.