International buyers are able to secure finance for a one-bedroom apartment with a deposit of just €46 500 in this complex, making this is an ideal opportunity for someone looking to enter the prosperous property market of the Algarve, with the added benefit of being in such a unique location.

This development offers a fantastic financial opportunity, with a number of units already generating income.


Top quality apartments without the price tag


This complex was previously a bank repossession meaning the vendor is in the unusual position of being able to offer these units at around 30% below market value. Despite this lower price tag, buyers are still able to benefit from properties that have been finished to a high standard with features such as air conditioning and double glazing, as well as parking, storage and the use of the complex´s swimming pool.

For now, the development´s one-bedroom units start at €155 000, the two-bedroom apartments at €189 000 and those with three bedrooms at €215 000. Around a €3000 deposit is needed to reserve an apartment and foreign investors are required to put down just a 30% deposit, which will give access to mortgage rates of around 3.5% with a five-year term or longer.

Angela Worrall from Ideal Homes shared: “We don’t see high-quality apartments at low prices like this anymore, which is why we were so keen to bring this deal to our clients.”

She added “It’s a terrific opportunity for buyers who want to get their first foothold in the Algarve property market. Buying at such a low entry price means you have the chance to holiday – or live – in the Algarve for significantly less than you’d normally pay.”

Beyond the price, Angela also spoke about the different benefits offered by this development “ It’s also a really unique location – of course, there’s the Racetrack and all its attractions, but you’re also in beautiful countryside for nature enthusiasts – and only 20 minutes from the beach too!”


A world-renowned racetrack


The AIA racetrack is a world-class international racing unit and brings a lot of visitors in itself. It´s been approved by both the FIA and FIM to host competitions of the highest levels. The AIA is a regular venue for the MotoGP championship; it also hosted the Portuguese F1 Grand Prix in 2021 and 2022.

As expected, these high-profile events make this area extremely popular with visitors but the racetrack is still open for corporate events, testing for racing teams, and the public can also book sessions at the driving school.

The complex is located in Mexilhoeira Grande, a wonderfully rural setting with the Monchique mountains in the background. Despite the tranquil location, there is plenty to do close by including horse riding, mountain biking, and hiking. The towns and cities of Portimᾶo, Lagos, and Carvoeiro are close by offering a range of services and amenities, and there are plenty of beaches in the vicinity.


No AL license application required


The complex will operate alongside the five-star Algarve Race Resort, which is situated next door. This means that individual owners won´t be required to apply for AL licenses to rent out their apartments as holiday lets since the whole development has a permit to operate as a tourist business.

Residents of the Algarve Race Apartments will also have access to the hotel´s facilities which includes a restaurant, two bars, a large terrace, a spa and gym, indoor and outdoor pools, a games room and a Kids club, as well as corporate facilities.

The apartments can be managed on-site throughout the year, and these properties have fantastic potential to obtain a good rental yield.