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150 000 €
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150 000 €
| Sale price | 150 000 € |
| Price per square meter | 2 500 € |
| Floor area | 60 sq.m |
| Floor | 1 |
| Number of storeys | 2 |
| Total number of rooms | 2 |
| Number of bedrooms | 1 |
| Number of bathrooms | 1 |
| Construction phase | New building |
| Address | Portugal, Algarve |
| Type | Two-room Apartment |
The wellness complex is located in Faro, Algarve, near the ocean coast. All 38 apartments are located in the 5-star Resort & SPA Hotel with high-quality finishes, well decorated, in excellent condition. Hotel
provides a large number of VIP-level services and services for its guests.
Type T1 apartments consist of a hall, a living room with an equipped kitchenette, a toilet and a balcony or terrace. 38 T1 apartments are located in different blocks and floors. Each apartment has a signed contract with the management company and a tourist license for short-term rental.
The price of the apartment includes furniture and appliances.
The hotel offers its guests such services as a restaurant, a bar with a terrace,
swimming pool, spa, game room, shop, dining room, doctor's office and others…
The cost of apartments starts from 150,000 euros . The average price per night, out of season, starts from 130 euros per day. Accordingly, the net rental income, minus the services of the Criminal Code and taxes, will amount to 2,000 euros per month.
I recommend using a mortgage with a 30% interest rate for foreigners.
Having a permanent income that is several times higher than the loan payment (a mortgage loan can be taken for up to 30 years at 2.8- 3.5% per annum and have a payment of up to 500 euros per month), you can count on obtaining a residence permit for 3 months and citizenship after 5 years.
Since the price of real estate is growing by 10% per year, the benefits are obvious.
