Prados del Golf

Capital outlay starting from 20,000 EUR, with unique finance options available allowing for realistic rental profits after finance commitments in today's market.

Prados del Golf Overview

An investment opportunity within a golf development in Mijas Costa on Spain’s Costa del Sol. The development is ideally located in a highly sought after location where returns from long and short term rentals are strong.

• Initial capital outlay starting from 20,000 EUR only
• Multi-currency loans available with low monthly repayments
• Purchase 20% below market value
• High capital growth projected aided by future infrastructure investment
• High demand for rentals in the area
• Apartments sold completed, fully furnished and equipped ready for immediate rental
• Frontline golf apartments available

A rare opportunity to purchase a property with built in equity and low capital commitment.  This investment offers the investor the opportunity to cover mortgage costs and achieve rental gains taking advantage of current market conditions.

The Investment

The Costa del Sol generates a large volume of holidaymakers and is a popular retirement, second home or even re-location destination for many Europeans, giving the units long term as well as short term rental potential.

Low season rentals can also be generated as the apartments are situated next to a major Costa del Sol golf course, La Cala Golf Resort, the biggest golf complex in Spain.

The Rental Strategy

The area of La Cala in Mijas Costa has a strong rental demand for both long and short term tenants. Attainable rental income for this market at the present time for long term rental is as follows:

• 2 bedroom, 2 bathroom garden apartment: 850 EUR approx per month
• 2 bedroom, 2 bathroom 1st and 2nd floor apartments: 750 EUR approx per month
• 2 bedroom, 2 bathroom penthouses: 900 EUR approx per month
  

Opting for short-term lets during the summer period can increase rental income.

Prados del Golf units are expected to appreciate steadily.  The area of La Cala remains one of the most highly sought after locations by both locals and holiday makers on the Costa del Sol.

The Security

IPIN has carried out due diligence for this project and is satisfied that it complies with all necessary legal requirements.

• All planning permission and licenses are in place

The development is now completed with all habitation licences in place

The Financial Partner

Rapide Finance is the financial partner facilitating finance for Prados del Golf, the company is based on the Costa del Sol and was founded to provide financial services for second residence buyers in the region.  The company was founded by a team with extensive experience in the financial world and real estate industries and understands the special requirements of the foreign national sourcing a purchase in Spain.

Rapìde Finance utilise their extensive experience to offer off-shore currency loans in addition to standard mortgage products.  It is by using these new and advanced financial vehicles that they're able to offer highly favourable lending terms to applicants who qualify.

Advantages offered by off-shore currency loans:

• Standard interest rates for a mortgage in Spain - 5.5% *
• Off-shore interest rate based on HKD loan - 3.2% *
  

* Rates given above are approximate, for example purposes only and is subject to fluctuation

The main objectives of Rapide Finance are:

• Building strong relationships with the world’s leading banks and financial institutions
• Providing the most competitive, reliable and robust rates and financial products to its customers
• Offering full attention to individual cases and requirements

If you are not an IPIN member, please join now for free!

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Further Details

Prados del Golf is located in the popular seaside resort of La Cala de Mijas and set on the 'La Noria Golf' complex, on the Costa del Sol.

The development features include communal gardens, swimming pools and tennis court in a secure gated community.

The Facilities

• 3 swimming pools
• Paddle tennis court

The Units

• 2 bedroom 2 bathroom units
• Fully furnished and equipped
• Finished to a high standard
• Fantastic sea, golf or mountain views
• Hot and cold air-conditioning
• Marble floors
• Fully fitted kitchens
• Gated community
• Frontline golf location

Comparables

Comparisons have been made with apartments for sales in the La Cala area, within 1km of the Prados del Golf development. These sales prices are excluding IVA and furniture. The typical purchase procedure would also include a 30% down-payment and mortgage financing at 5.5% per annum.

Type	Beds	Baths	Plot	Build	Terrace	Pool	Garden	Parking	Price
Apartment	2	2	145	88	32	communal	Private	underground	320,000
Penthouse	2	2	0	70	110	communal	communal	underground	325,000
Penthouse	2	2	204	70	134	communal	communal	underground	359,000
Apartment	2	2	0	81		communal	communal	underground	302,000
Apartment	2	2	160	80	80	communal	communal	underground	289,950
Apartment	3	3	120	90		no	no	no	444,000
Apartment	2	2	124	85		communal	communal	yes	263,000
Apartment	4	2	112		communal	no	no	yes	457,000
Apartment	2	2		100		communal	communal	communal	318,500

Further comparisons have been made with units within the Prados del Golf development currently for re-sale

Type	Beds	Baths	Plot	Build	Terrace	Pool	Garden	Parking	Price
Penthouse	2	2		70	110	communal	communal	underground	325,000
Penthouse	2	2	204	70	134	communal	communal	underground	359,000
Apartment	2	2		81		communal	communal	underground	302,000

As there is a strong demand for long and short term rental sin the La Cala area, further comparables have been made to show examples of rental income currently being requested from property owners in the area

Long Term rental – Cala Nova Sea Golf development

Type	Beds	Baths	Pool	Garden	Beach	Price per month
Penthouse	2	2	communal	communal	6km	900 €

Short term rental currently being advertised in the Prados del Golf development

Type	Beds	Baths	Pool	Garden	Parking	Beach	Price per week
Apartment	2	2	communal	communal	underground	1km	300 - 400€

The above comparables have been taken from properties advertised with Star La Cala, Andalucian Dream Homes and Home Finders Network.

 

TO VIEW A VIDEO OF THE PRADOS DEL GOLF DEVELOPMENT, PLEASE CLICK ON THIS LINK: http://gpsrv.net/video/prados/

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