T2 flat in Armação de Pêra, Silves
Grade Bapartmentmid-range

T2 flat in Armação de Pêra, Silves

Silves · Central Algarve ·

€440,000

Asking Price (EUR)

4.3%

True Net Yield (Owner, all-in)

3.0%

True Net Yield (Managed, all-in)

6.6%

True Gross Yield

46%

Occupancy

Projections — conservative (data maturing)

Our Airbnb calendar dataset started 1.8 months ago and is currently at 15% maturity. Yields shown apply a conservative calibration (realised-ADR factor 0.75, occupancy cap 67%) that auto-fades to full fidelity by April 2027.

Projected Gross Revenue: €32,754/yr
Average Daily Rate: €195
+3.0% vs area baselineImage quality 8/10 (+3%), Modern/contemporary style (+12%), No pool (-12%)
Payback Period: 16.6 years
5-yr Capital Value: €578,153
10-yr Capital Value: €703,412
Brixfox Score: 64.6 / 100
Comparable Properties: 61
Data Confidence: 94%
Search Radius: 2 km

True Investment Cost

Portuguese transfer tax (IMT) + stamp duty (IS) + notary + registration + legal + renovation + full furnishing & STR launch setup.

€499,250

+13.5% over asking

Asking price€440,000
IMT — Property transfer tax (investment schedule)€23,030
IS — Stamp duty (0.8%)€3,520
Notary (escritura)€1,000
Property registry€250
Legal fees (~1.5%)€6,600
Total acquisition costs€34,400
Renovation€0 — move-in ready
Furnishing & STR launch (2bd × €4500 base, mid-range tier)
Furniture, appliances, electronics, linens, AL licence setup, launch photography.		€24,850
All-in investment (incl. renovation & furnishing)€499,250

Gross yield (asking price)

7.4%

True gross yield (all-in)

6.6%

Estimates use Portugal's investment IMT schedule (non-permanent residence). Actual notary & legal vary; budget +€500–1,000 for surveyor, due-diligence and bank-mortgage fees if financing. Renovation cost is a heuristic on property condition × m² — verify with a site visit. Furnishing uses finish-level-tiered rates covering beds, living, kitchen, electronics, AL licence, linens & professional photography. Working capital (2-3 months operating buffer) not included.

Bedrooms: 2
Building: 98 m²
Style: modern
Condition: new-build

AL Licence Status Unconfirmed

AL licence status unconfirmed — verify before purchase

Design Features

recessed lightingmarble-effect floor tilesbuilt-in shelving unit

Score Breakdown

ROI
17.02
Visual Appeal
12.6
Ownership Security
13
Location
8.4
Land & Space
3.96
Rental Demand
4.6
Payback Speed
2
STR Suitability
3

Description

2 bedroom apartment located in Armação de Pera. 2nd floor. Garage included.

Location

📍 37.1000°N, 8.3580°W

· Silves, Algarve, Portugal

View on Idealista.pt
Idealista.pt
Silves / Central Algarve

T2 flat in Armação de Pêra, Silves

Inventory
2 Beds
Bathrooms
0 Baths
Built Area
98 m²
Land Plot
0 m²
Tenure
Freehold
Yield Curve Status

Grade B investment — short-term rental yields 5.0% net return annually.

Go to Source via Idealista.pt

The Investment

Brixfox Score65
GradeB
Brixfox Intelligence
65BStrong
Score Breakdown
ROI & Yield72%
Capital Growth68%
Risk Profile67%
Market Demand65%

The Brixfox Score is our proprietary AI-powered rating that evaluates rental ROI, capital appreciation potential, risk factors, and local market dynamics to give you a single investment quality metric.

Pro members get full score breakdown with AI recommendations
Average annual ROI over 5 years, combining both rental income and property value growth.
Total
+8.8%
Per Year (5yr avg)
Annualized projected property value change based on historical area appreciation rates (5-year average).
Capital Growth
+3.8%
+$83K in 5yr (+19%)
Estimated monthly net income after deducting management fees, operating costs, and taxes.
ROI Nett Rental Income
5.0%
$1,998/mo
Estimated time for the total investment value (equity + accumulated rent) to double.
100% Profit
11 yr
Combined
Number of years to fully recoup the initial purchase price using only net rental income.
Payback
19.9 yr
Rental only

Property details

Condition: new-build

Description

2 bedroom apartment located in Armação de Pera. 2nd floor. Garage included.

Income Breakdown

Adjust Forecast

Customize your projections
Nightly Rate (ADR)
$284/night
50% ($131)Brixfox estimate($284/night)200% ($523)
Occupancy
46%
10%Brixfox estimate(46%)100%

Short-Term Rental

Yearly income
$23,974
Airbnb data$284/night · 46% occupancy
Rental income
$284/night · 46% occ.
$47,713
Running costs (20%)
Utilities, cleaning, maintenance
-$9,543
Income tax (10%)
Indonesian rental income tax
-$13,360
Property tax
Annual property tax
-$837
Net income
5.0% ROI
$23,974

Long-Term Rental

No long-term rental data available

Not enough comparable rentals in this area

True all-in investment

What the headline asking price actually costs once mandatory taxes, fees, renovation, and furnishing are added. Yields rebased onto this number — closer to what you'll really earn against what you'll really pay.

Asking price$478,261
IMT (transfer tax, investment schedule)$25,033
Imposto de Selo (stamp duty)$3,826
Notary & registration$1,359
Legal / due diligence$7,174
Total acquisition costs$37,391
RenovationMove-in ready
Furnishing & STR launch
2bd × $4,891 base + appliances, electronics, outdoor, licence, photography, linens.		$27,011
All-in investment$542,663

Gross yield (asking)

10.0%

True gross yield (all-in)

8.8%

Estimates use Portugal's standard transfer tax + typical legal/notary defaults. Verify with local counsel before committing — actual fees vary by deal structure.

Growth & Exit Strategy

How your investment grows over time

Freehold — 4%/yr appreciation in Silves.

$2.8M$2.1M$1.4M$712K$0Yr 0Yr 5Yr 10Yr 15Yr 20Yr 25Yr 30Paid back2x ReturnToday: $440K
Capital appreciation
Property value growing at +4%/yr based on Silves market trends.
Rental income
Cumulative net rental earnings collected over time, growing with annual revenue increases.
Total return
Capital value + rental income. Your actual total position if you sold and kept all rent.
Paid back
Year 16: rental income alone has repaid the full purchase price.
2x return
Year 10: total gains (capital + rental) have doubled your initial investment.
Year 5
Capital Value
$535K
+22%
Rental Income
+$117K
Total Position
$652K
+48%
8.2%/yr
Year 10
Capital Value
$651K
+48%
Rental Income
+$253K
Total Position
$904K
+105%
7.5%/yr
Year 20
Capital Value
$964K
+119%
Rental Income
+$593K
Total Position
$1.6M
+254%
6.5%/yr
Year 30
Capital Value
$1.4M
+224%
Rental Income
+$1.0M
Total Position
$2.5M
+463%
5.9%/yr

Location

Silves

Central Algarve, Approximate area

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Airbnb Comp Analysis

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Villa Scorecard

Location
Average
Emerging or secondary location
Rental Yield
Good
5.0% annual return
Occupancy
Average
46% average occupancy
Nightly Rate
Strong
$261 per night
Visual Appeal
Good
7/10 instagrammability
Size & Space
Weak
0 m² land area
Zoning
Average
STR zoning not confirmed
Tenure
Strong
Freehold ownership

Top Highlights

Premium nightly rate of $261 — positioned in the top tier
Freehold ownership — maximum long-term security

Watch Out

Secondary location — rental demand may be lower than premium areas
Occupancy at 46% — factor in seasonal gaps

Consider carefully. Returns are below market average for this price point.

Risks & What-If

What if occupancy changes?

Owner Managed scenario

30% occ.
4.4%
$1,745/mo
40% occ.
5.9%
$2,350/mo
46% occ.
6.8%
$2,714/mo
current
56% occ.
8.3%
$3,319/mo

Data Sources & Methodology

ROI calculations use verified Brixfox Intelligence rental data from a 12-month trailing window. Opex: 20% owner-managed, 45% fully-managed. Includes 10% Indonesian rental tax (PPh) and annual property tax (PBB). Market factors in Portugal may impact actual yields.