Historic Building in Alfama with Approved Renovation Project

€980,000

Lisboa, Lisboa, Portugal

7 bed
8 bath
354 m²
SingleFamilyResidence

The Habio take

AI summary

This charming building in the heart of Alfama offers a prime investment opportunity with an approved project for five stylish apartments. Located in one of Lisbon's oldest and most picturesque districts, it provides easy access to the city's vibrant culture and river views.

investment
historic
city

Highlights

7 bedrooms, 8 bathrooms
Approved project for 5 apartments
Total living area of 344 sqm
Prime location in historic Alfama
Potential for high rental income

Worth knowing

Requires renovation work to complete the project
Uncertainty regarding construction timeline

Good fit for: Ideal for investors looking for a renovation project in a prime location.

Lifestyle scores

Beach: 40
Walkable: 90
Remote work: 70
Family: 60
Retirement: 50
Airport access: 80
Investment: 85
Luxury: 60
Value: 70

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