Apartment (Flat) in City Area, Algarve for Sale

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Web Reference: #30811

Property Features

Furnished
Kitchen
Swimming Pool
Fire Place
Heating
Air Condition
Alarm
Satellite
Mountain View

Property Description

65 one-and two-bedroom freehold apartments integrated into a 5-star hotel overlooking an 18-hole golf course.

All residences are fully furnished and equipped according to 5-star standards.

Owners can use their apartment up to 70 days a year (ad aeternum), a maximum of 14 days in the high season (July and August) and a maximum of 21 days in the middle season (April, May, June, September, October).

When using their apartments, the owners have access to all the services and amenities of the hotel, and also have several privileges and discounts of the owners.

When the owners do not use the apartment, that is, for a minimum of 295 days a year or more (if they use less than 70 days a year), the apartment is automatically available for rent to guests in a rental pool system managed by the hotel, which ensures that the owner will receive a potential high rental income for as long as he owns the apartment, that is, until he decides to sell it.

Owners receive a guaranteed minimum net rental income of 5% per year for the first 5 years. This 5% is calculated from the cost of the apartment (excluding furniture) and is deducted from all condominium fees and operating costs, but before taxes.

Completion of the work is planned for the 2nd quarter of 2022.

Current availability: 30% of apartments have been sold/reserved

Prices:

One-bedroom apartments: from 368,050 to 463,050 euros (including furniture package) | Total internal area from 74 to 78 sq. m.

One-bedroom apartments: from 495 350 to 630 350 euros (including furniture package) | Total Internal area from 104 to 110 sq. m. m

apartment with two bedrooms: 689 979 950 to 950 euros (including furniture package) | Total Internal area from 145 to 173 sq. m.

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