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Apartment For Sale in Albufeira, Algarve Portugal Forte Do Vale, 1 Bed Apartments - Only 1,100 Euros Required! Ref:PF3070 Asking Price: 236,000 € (Financing Available) This is an excellent opportunity to invest in a brand new apart-hotel which is already fully operational and complete and located in the unofficial tourist capital of Portugal, Albufeira. Being offered at 20% discount from current value, investors will be able to purchase with a 100% mortgage.
The hotel, set over 3 floors has a selection of Studio, 1 and 2 bedroom apartments for you to choose from, and with rental returns taken from the entire hotel pool you can be sure of a good yield no matter which option you pick. Clients are required to only pay the bank and accountant fees which will equate to approximately €1,100, then upon the signing of your deed the developer will refund your costs, plus give you an immediate 9% cash-back and then a further 2% in year two meaning that you should be able to look forward to a cash-flow positive investment from the signing of your contract, through the lifetime of your mortgage.
With up to 6 weeks free usage per year and a free furniture pack included, this could be the ultimate hands free holiday home investment.
In addition to the exceptional purchase deal, Forte Do Vale also offers excellent long term income through the hotel operation. Yields of around 8% are expected based on current occupancy levels and room rates.
With the Algarve being Portugal’s favourite top–end tourist destination, the property market here has not been affected to the same extent as the rest of Portugal or indeed the rest of Western Europe. According to the Instituto Nacional de Estatistica (INE) house prices had only dropped 4.4% during the year to September 2008, as it continued to be Portugal’s most resilient housing market.
Leading developers in the Algarve believe prices are down 10% from their peak – a dramatic difference to Portugal’s Spanish neighbours. In Huelva sales are down 40% from their peak! Unlike in Spain, the Portuguese have limited building which has preserved demand for what housing stock is available.
The golf facilities in the Algarve cannot be ignored and it’s world class courses and academies, will continue to draw golfers from all over the world whilst the area’s award winning beaches cater for summer family holidays and those seeking some winter sun.
With Portuguese spoken by 250 million people worldwide and cheap flights available from all major European destinations tourism continues year round and remains a popular choice of the retiring baby boomer generation.
Built in 2008, Forte Do Vale has 125 properties including studios and 1 and 2 bedroom apartments, all of which have opulent modern decor and are fully equipped to the highest standards. The hotel facilities include bar, games room and restaurant. The air–conditioned hotel features a lobby with 24–hour reception and check-out service, a hotel safe, lift access, a cafe and bar.
 | | About This Property | |
| Category: | | Apartments | | Address: | | 0
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Albufeira
Algarve 0
Portugal | | For Sale By: | | Agent | | Construction Year: | | n/a | | Area: | | n/a | | | Bedrooms: | | 1 | | Bathrooms: | | 1 | | Sleeps: | | 0 | | Stories: | | 0 | | Parking Spaces: | | 0 | |
| | Features - Amenities | |
| - Furnished
- Appliances
- Pool
- Gym/Spa
- Only €1,100 Required To Purchase An Apartment To Be Refunded Upon Signing Of Deeds
- 100% Finance
| | - 20% Below Current Market Value
- All Closing Costs Paid For By Developer – This Amounts To Around 9.6%
- 11% Cash Back Gives A Saving Of Over €107,000 On A €310,000 Apartment
- Total Savings Nearly 30%
- 8% Expected Yields
- Studio, 1 & 2 Bedroom Apartments Available In Modern Fully Operation And Completed Hotel
| | - Free Furniture Pack
- This Luxury 4* Apart-Hotel Is Located In Albufeira – Tourist Capital Of The Algarve
- 6 Weeks Free Use Per Year
- Renowned And Experienced Developer - 30 Years Of Experience In Portugal
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| | Contact - More Information | |
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