Land zoned for residential development in the Paranhos area

We present a plot of land zoned for residential development in the Paranhos area, which was previously covered by an architectural project approved by the Porto City Council.

Although the project is no longer active, the land area and urban planning parameters were approved by the Porto City Council, allowing the buyer to resubmit the project and choose to either revive the previous one or present a new architectural solution, depending on their investment strategy.

The previously approved project called for 21 residential units, distributed as follows:

6 studio apartments

4 one-bedroom apartments

11 two-bedroom apartments

11 parking spaces

The estimated cost of the building permits was €164,000.00, equivalent to approximately €7,800 per unit.

The location offers:

Well-established accessibility

Good public transportation connections

Proximity to the city’s main thoroughfares

A diverse range of shops and restaurants

Stable rental demand from students and young professionals

Appreciation potential associated with ongoing urban development projects in the parish

The property also has the potential to qualify for the 6% VAT rate, provided that the new project meets the criteria currently defined by the government, making it a significant opportunity for investors seeking to optimize construction costs.

All technical and historical documentation for the project is available upon request; an informational meeting can be scheduled with the architect in charge to review previously approved solutions and the possibilities for reactivating the project.

Schedule your meeting and join us in evaluating the potential of this strategic asset in the city of Invicta.


BIS3 Imo
www.bis3imo.pt
AMI20902