Monchique | Faro | Portugal One Bed Apartment For Sale
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Apartment/Flat Description
Longevity Wellness resort Monchique/Algarve is a unique $ 50 million condo hotel development
***** 5 STAR *****
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 –
• 20% instant equity
• 80% mortgage is just £170,000 sterling (based on Prices of €255k )
• 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)
• 2 Years Mortgage Guarantee on completion
• 20% Instant Equity of €51,000 - €59,000 – Up to 80% loans available on availability attached above.
• Year 3 – 50/50 split of income (see attached rental projection income detail)
• Developer projecting a 6.5-7.5% income year 3 onwards based at 65% occupancy (see attached projections)
• 4 weeks a year personal usage (personal usage is not totally free, the client will be required pay just 10% of the room rate charge for the period they choose to visit, but there are no additional fees to pay when they stay – i.e. maid/turndown/weekly check out clean etc)
• Part of ‘Interval International’ worldwide network group – trade personal usage for weeks away elsewhere globally
• You’ll see from the spreadsheet that the mortgage figures (based on a conservative 3% rate) show the following –
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Approximate price of this 1-Bed Apartment
€212,420 EUR |
£170,000 GBP |
US$266,503 USD |
(Currency and Foreign Exchange services supplied by  )
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| Type |
Apartment |
| Bedrooms |
1 |
| Category |
Re-Sale |
| Listed |
142 days ago |
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Map of Monchique, Faro, Portugal
Real Estate Agent Listing this Property
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Price: £170,000
Latest Property News in Portugal
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Price of Property in Monchique, Portugal
| (All prices in EUR) |
Monchique |
Monchique |
Monchique |
| Apartment/Flat |
170,000 |
1 |
1,390,000 |
17,500,000 |
255,000 |
132,000 |
| House/Villa |
130,000 |
49 |
1,595,000 |
17,500,000 |
165,000 |
315,000 |
| Land/Ruins |
800,000 |
7,500 |
800,000 |
9,000,000 |
800,000 |
87,500 |
| Other |
295,000 |
29,000 |
845,000 |
17,500,000 |
250,000 |
225,000 |
| Bungalow |
325,000 |
132,000 |
325,000 |
875,000 |
- |
- |
| Commercial |
1,390,000 |
50,000 |
1,390,000 |
9,000,000 |
- |
152,500 |
| Bed and Breakfast |
990,000 |
199,000 |
990,000 |
1,495,000 |
- |
- |
* Calculations based on 44 properties for sale in Monchique and 14643 properties for sale in Portugal |
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Looking to buy property in Monchique, Faro, Portugal?
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