Been looking for an ocean front property and thinking you need a fortune to be able to own one? Think again. We have a special property which has just been released as a bank repossession and it just might be what you've been waiting for.
This development has so much more than just a great view. If you love island's, fantastic, fresh food and seafood, along with being just a ferry ride to some of the most revered and unspoiled island beaches in Portugal, then you may have just found your new home!
This development is situated next to a historic fishing village, minutes walk to a new marina and one of the most famous seafood markets in the country. Centrally located between Faro and Huelva, Spain, and ferry access to stunning island beaches off the UNESCO, World Heritage protected Ria Formosa. This eastern part of the Algarve is being developed with consciousness for the surrounding natural habitat and will be a prize location in the not too distant future.
Properties available from this bankrupt stock include:
1 Bedroom apartments, reduced from €200,000 to €150,000 (IDH8435)
2 Bedroom apartments, reduced from €260,000 to €170,000 (IDH8434)
3 Bedroom apartments, reduced from €290,000 to €193,000 (IDH8436)
The development has a fantastic, heated rooftop pool accessible to all tenants. A number of units come equipped with appliances and all come prepared for heat/AC installation, along with modern media and telecommunications connections. All units have spacious balconies with beautiful views.
Financing:
With 10% deposit buyers can get up to 90% financing for up to 40 years, and mortgage rates as low as 1%, depending on individual circumstances.
Mortgage Simulation (2 Bedroom) 30 Years:
Property value: €170,000
Deposit: 10% = €17,000
Principle: €153,000
Interest rate: 1% (2 year fix option)
Loan term: 30
Approximate Monthly Payment: €492,11
Above amounts are approximate values to reach a monthly value for sample purposes. Buying costs such as taxes, legal fees, etc., will apply and typically range from 6-8% of property value. Individual circumstances may also impact figures noted.
Rental Income Simulation (2 Bedroom):
Approximate bookings based on seasonality.
9 weeks at €1200 p/w
4 weeks at €900 p/w
2 weeks at €600 p/w
Figures may vary depending on number of guests and can vary slightly depending on exact location, quality fixtures and fittings. Appropriate setup licenses, insurance, etc., required for legal rentals will apply. Ideal homes property management and rental services ensures owners retain 90% of rental income.
Property Surroundings:
Closest landmarks:
● Culatra Island 4 km
● Faro Hospital 7.1 km
● Modelo Supermarket 7.4 km
● Lethes Theatre 7.5 km
● Faro downtown 7.5 km
● Carmo Church & Bones Chapel 7.7 km
● Cathedral of Faro 7.8 km
● Arch to the Old Town district of Faro 7.8 km
● Old Town Faro 7.9 km
● Faro Marina 8 km
Most popular landmarks:
● Faro Beach 13.3 km
● Church of São Lourenço 15.7 km
● Island of Tavira 16.8 km
The reductions on this special development make it an excellent option as a holiday home to escape to during cold winter months, or for pure rental investment. Enquire about this hidden jewel and discover a wonderful location and property that is sure to have positive returns well into the future.
Ideal Homes Portugal
IDEIA FABULÁSTICA Mediação Imobiliária Unipessoal LDA Ideal Homes Portugal
General: 00351 289 513 434
Freephone Number : 0800 133 7644
E: enquiries@idealhomesportugal.com
W:www.idealhomesportugal.com
