Solar de Xelb, located in the historic center of Silves, is a palace with old-style façades that is ready to be refurbished. This building has an approved architectural project to turn it into a 4-bedroom villa with unique features.
The details of the architectural project for Xelb Manor are as follows:
Location: Rua Miguel Bombarda, numbers 29 to 31, in Silves.Orientation: South, east and north.Composition:Floor 0:3 en-suite bedrooms with dressing roomsMultipurpose roomPatioParking spaceBalcony1st floor:Open space kitchen and living room with 65m²1 bedroomHammamLaundry room2 bathroomsBalconyPenthouse:Private swimming poolLarge terrace with 360º exposureBathroomSmall kitchen
This building has a rich history, and it is said that the proclamation of the Republic in Silves was made from its balcony. 
Investing in this palace is a unique opportunity to own a villa in the city center, with privacy and panoramic views. 
Silves is a city with a lot of history and authenticity, full of Islamic remains and surrounded by the famous Grés de Silves, a reddish rock used in the construction of its castle
As it is located in the Silves Urban Rehabilitation Area (ARU), there are various tax and financial benefits for rehabilitating this building, namely:
Exemption from IMT on the acquisition of the property;Exemption from IMT on the first transfer of the rehabilitated property when intended exclusively for permanent residence,VAT of 6% on the purchase of materials and labor services in rehabilitation contracts,Exemption from IMI,30% deduction from the taxable amount of the costs incurred for rehabilitation purposes, up to a maximum limit of €500 in the IRS. 50% reduction in the fees due for assessing the state of conservation (art. 45, no. 2 of the EBF)Reduction in the value of various municipal taxes, such as the public road occupation tax,Exemption from the Municipal Urbanization Fee
If you're looking for a different Algarve, with cultural and authentic roots, Silves is the ideal place. 
If you're interested, don't hesitate to get in touch and arrange a visit to this magnificent manor house!