1 Bed Apartment for sale in Monchique Region, Algarve, Portugal

This 5 Star Resort in the mountains of the Monchique region of The Algarve, just 15 minutes from the coastline and nearest town of Portimao.

It officially opened July 2010 and has continued to receive excellent reviews and press.

Due to the sell out success of the 30 units we had on this development, the developer has now given us another and the last 10 units.

It really is unique to Portugal, it has been designed as a luxury Spa resort offering everything from just somewhere to go and relax by its pools, to having a full ‘health-check' and daily treatments including massages.

Oustanding 5 STAR Apartments. Beautiful mountainside resort with mountain and sea views.

5% discount from valuation with a 75% mortgage from just £195,625 sterling (based on a price from €313,000).

Gives 30% INSTANT EQUITY

Where else can you get your own apartment within a 5 star $50 millon resort for this money and deal below???

This resort in Monchique is a unique $ 50 million development

The 195 unit development ,nine acre condo resort hotel is located in a lush area with 83% of the property marked as protected natural reserve.

The confirmed deal structure is -
- 30% instant equity based on valuation from £75,000/ €90,000
- 75% mortgage from just £195,625 sterling (based on Prices from €313k )
- Fully furnished 1 x bed, 2 x bath apartments (€15,000 furniture pack INCLUDED)
- Upfront commitment fee of £2550 (this includes a £550 non refundable admin fee)
- 3 Year mortgage paid
- Amazing TOTAL interest rate of around 2.05% (bank spread of 1.15% + Euribor roughly 0.9%)
- 4% guaranteed return in the first 3 years of €9,280 a year, thus giving a cash positive figure of €4,241 per annum / 3 x yearly total of €12,723
- Year 4- 50/50 split of income with management company to achieve rental income to cover mortgage/costs, and receive a great profit.
- Developer projecting a 6.5-7.5% income year 4 onwards based at 65% occupancy - see attached projections
- 3 years condo fees paid
- 4 weeks a year personal usage.
- Part of ‘Interval International' worldwide network group - trade personal usage for weeks away elsewhere globally

Now that we have had properties the bank is offering us an even better rate. Based on the bank offering a rate of 1.15% spread + euribor of around 0.9% (totalling around an amazing rate of 2.05% IN TOTAL).

Using a 75% loan/mortgage figure of €232,000 (£195,000 £ sterling) the interest only monthly payment will be €5,039 a year versus the 4% guaranteed return in the first 3 years of €9,280 a year, thus giving a cash positive figure of €4,241 per annum / 3 x yearly total of €12,723

If rates were to stay the same Year 4 onwards, the capital and repayment figure would be €11,334 a year. The projections at a conservative 50% occupancy (please refer back to page 9 of the Executive Summary you rcvd) show a net rental income of €15,095, again a cash positive figure of some €3,761 per annum.

On completion the customer will also have €78,000 of instant equity (25%).

COMPARABLES -
Comparables below, With our 25% INSTANT EQUITY, mortgage 75% loan to value, on mortgage amount it works out at only €4,000 per sq metre for a 5 Star Apartment on a $50 millon resort, there is capital growth & rental projections......
- Monte da Quinta Resort / Quinta do Lago: 8,796 € / sqm. - 4 star
- The Lake Resort / Vilamoura: 8,000 € / sqm.
- Pine Cliffs Resort / Albufeira: 6,575 € / sqm.
- The Residences / Vilamoura: 5,573 € / sqm.
- Tróia Design Hotel / Tróia: 5,020 € / sqm. part of blue & green group
- This resort in Monchique: 5.032 € / sqm.

This resort is one of the first truly international projects to be built to such a high specification in the Monchique area and its investment potential is outstanding.

The area of Monchique is a national park and 83% of the area is protected.

Therefore, construction is at an absolute minimum enhancing real estate values and rental opportunities.

Surrounded by a majestic mountain range and marvelous varieties of exotic flora and fauna, the tranquil region of Monchique is located in an unspoiled natural reserve.

Here one can experience a charming and relaxing lifestyle with spectacular mountain views over the Algarve Coast.

Let yourself enjoy the idyllic sceneries that invite contemplation or exercise thorugh the countless outdoor activities.

Located on the southern coast of Portugal, The Algarve region is a world renowned tourist destination and undoubtedly a place of choice for sun-lovers and for all those seeking well being in its most diverse possibilities.

Nestled in the green hills of Monchique amid very low density development, this

Resort is a luxurious Eco-Friendly Resort with a unique Wellness approach, combinging state of the art engineering and architecture perfectl y fitted into the exceptional landscape.

Within the most beautiful sea and mountain range enclosures, you are sure to find the ideal setting to enjoy moments of unique and revitalising pleasure.

This resort is located in an area where nearly 80% of the territory is officially classified as Natural Reserve. Therefore, every detail was thought through from scratch in order to offer a superior quality of life in complete harmony with nature.
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