Costa del Sol Developments - Front Line golf Aparthotel Development
This project is an off-plan development consisting of 201 apartments and Houses overlooking a private golf course and all with Sea views.
The project will feature:
This project is a new concept in owning and investing in an Overseas property. At this project you can holiday in the privacy of an apartment complex designed in the tradition of the finest Spanish colonial architecture, a privileged location on the Mediterranean coast, whilst offering all the services and comfort associated with a hotel. This apart-hotel offers you freehold title of a property as well as guaranteeing you a minimum Income every year for the next 9 years.
How does it work
The only difference between this project and anything other project on the Coast is that it is aimed specifically at Investors and at Clients wanting a Holiday Home for 4 weeks a Year. You can choose your Ideal property and then hand it over to the hotel management company who will assume all rights and responsibilities of the owner including all costs and maintenance. In return they will give you a guaranteed minimum income of:
1 Bed: €5,000 + IVA 2 Bed: €6,000 + IVA 2 Bed House: €7,800 + IVA
The hotel company will assume all costs and everything associated with the apartment except for IBI (local taxes every year approx. €250) and the mortgage costs. The hotel company will declare all earnings on the complex for the previous year and then will then split that 70/30 and divide the 70% between the owners of the property. If it is anymore than the minimum amounts above it is paid into your nominated accounts. The developers and Hotel hope to achieve within 2 years time an annual return of 6% for all clients.
Payment Terms
Example
1 Bed Property Price: €169,000 30% at private contract 70% at completion: €116,200 Assuming Interest Rates are 4.2% a) 20 Yr Loan: €716.46 per month b) 30 Yr Loan: €568.24 per month Minimum Guarantee for 1 bedroom: €5,000 + IVA / 12 = €483.33 Real Payment= €84.91 per Month. You also receive 4 weeks private use per Annum.
Click Here to view the detailed Frontline Golf Development Plans
