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This is the best investment we have in Spain in terms of capital appreciation!
These properties are in an area currently undergoing a 2 phase 45 million euro regeneration scheme!! This will provide over a Kilometre of golden sandy beaches in the existing secluded bay which is in a picturesque location on the Mediterranean sea surrounded by hilly natural park yet in a town with only 800 local permanent residents. The regeneration is under way and fully budgeted. It includes 2 beach bars ( Chiringuitos) A new promenade and a marina with 300 Moorings.
We are offering 1 bed 1bathroom, 2 bed, 2 bathroom and 3 bed 3 bathroom Apartments on either ground floor with terrace or 1st floor with terrace and solarium just 200m from the beach. Although these are newly built properties all required full refurbishment as have been standing for a while due to the global property crash. (These properties were previously priced far in excess of the negotiated price today.) The developers were reluctant to reduce the prices initially but now have agreed to sell at investor prices and have further included white kitchen goods. Pre-installation for air conditioning, new kitchen and bathrooms. The apartments are 59M2 for 1 bed, 83 M2 for the 2 bed and 121 M2 for the large 3 bed which also has a huge terrace area. All properties include a parking garage under the building. The urbanisation has a beautiful communal area featuring swimming pools, gardens and a children’s playground.
Portman is only a 4 min drive to the world's famous La Manga Club and is well connected by motorway to the main cities of Cartagena and Murcia. Portman is located on the Mediterranean coast and close to the Mar Menor, it has all the services and facilities anyone could need, such as supermarkets, shops, restaurants, chemist, doctor surgery & banks. San Javier airport is just a short 25 min drive and Alicante is around 75 minutes. The new and fully built International Airport in Murcia city is nearing its opening and will significantly add to property prices as only 35 minutes away. As the most successful seller for La Manga Club owned property assets in recent years (52 properties on Las Lomas Spa resort alone) RBH are better placed than anyone to understand the huge potential here for investors on individual or wholesale investment sales.
Properties this close to the beach with similar sizes are on the market today for around double the price of our offer price. The average unit size for a 2 bed 2 bath for example is 60 M2 and prices are circa €120,000 making a M2 average of around 2000. There is no real comparison in terms of location as this is a unique bay position in a town not densely populated and not saturated with low quality build units aimed purely at the holiday market.
Therefore, the interest from clients for this location once regeneration works are complete in 3 years’ time will outweigh supply availability resulting in prices rising again, there is no reason why our properties in Portman should not reach similar prices to for example Cabo de Palos which is the most expensive coastal area in Murcia to buy property right now.
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