Historic Building with Approved Project in Alfama

€980,000

Lisboa, Lisboa, Portugal

7 bed
8 bath
354 m²
SingleFamilyResidence

The Habio take

AI summary

This remarkable building in the heart of Alfama presents a unique investment opportunity with an approved project for five apartments. Located in Lisbon's beautiful historical centre, it boasts extraordinary potential for both residential and rental income.

historic
investment
city

Highlights

Seven bedrooms, eight bathrooms
Approved project for five apartments
Includes stunning penthouse with river views
Renowned architectural design
Located in a desirable, vibrant area

Worth knowing

Requires renovation before apartments can be occupied
Higher initial investment compared to basic properties

Good fit for: Ideal for investors looking for a historic renovation project in a vibrant area.

Lifestyle scores

Beach: 40
Walkable: 90
Remote work: 70
Family: 60
Retirement: 65
Airport access: 75
Investment: 85
Luxury: 70
Value: 55

About this place

Great investment opportunity. The building is located in the beautiful historical center of Alfama with an approved project carried out by renowned architects. The project consists of 5 apartments with a total living area of 344sqm. Three studios, a studio with a garden and a three-room penthouse with a balcony and fantastic river views. A nice project in a great location.

Buying property in Portugal

Full guide →

Portugal is open to foreign buyers with no restrictions on ownership. A NIF (tax number) and Portuguese bank account are required, and most buyers engage an independent lawyer to handle searches, contracts, and the public deed.

The buying process

1
Get a NIF
Apply for a Portuguese tax number (Número de Identificação Fiscal). Non-EU residents need a fiscal representative.
2
Open a bank account
Open a local account to handle the deposit, taxes, and ongoing utility payments.
3
Engage a lawyer
Hire an independent lawyer (not the seller's) to run title and planning searches.
4
Sign the CPCV
Promissory contract (Contrato de Promessa de Compra e Venda) with a deposit, typically 10–30%.
5
Final searches & funds
Lawyer confirms clean title; you transfer the balance and pay IMT and stamp duty before completion.
6
Escritura (deed)
Sign the public deed at a notary or via online platform Casa Pronta. Keys handed over.
7
Register the property
Lawyer registers the new ownership at the Land Registry (Conservatória do Registo Predial).

NIF (tax number)
Portuguese bank account
Passport / ID
Fiscal representative(optional)
Required for non-EU/EEA residents

The Golden Visa programme no longer accepts residential real estate as a qualifying investment (changed 2023). Mortgages are available to non-residents, typically up to 60–70% LTV.

General guidance only — confirm specifics with a qualified local lawyer or tax adviser. Reference