Property for sale on Spa Resort, Monchique, Portugal - 100% Financed

Prices from €255,000, A commitment Fee of £2,550 is required, the 80% Mortgage means an instant equity of 20% on all prices, mortgage payments guaranteed for 2 years. 50/50 Rental share thereafter.

What Makes this resort special?

The first integrated 5 star wellness resort in the Algarve - all elements are organized to provide a memorable experience in Wellness and Healthy living.

A mountain and nature retreat protected from big crowds and mass tourism but only 15 minutes from two main cities in the Algarve (Portimão and Silves). Nestled in the green hills of Monchique with breathtaking views of the hills and the Algarve coast.

The first medical spa in Portugal, in a resort environment, in an exclusive partnership with La Clinique de Paris/ Dr. Claude Chauchard, world leading expert in Preventive Medicine and Ageing Management and nationally coordinated by renowned Dr. António Boavida. The Longevity Medical Spa includes three different areas: Wellness and Relaxation, Beauty and Rejuvenation and Health and Longevity. State-of-the-Art programmes range from Slimming and Detox to Beauty and Health Optimization.

Healthy gourmet cuisine offering sophisticated ambience, phenomenal views, local ingredients and the creativity of Chef Olivier, combined with the Vitality Nutrition programmes of Dr. Chauchard.

First class accommodation based on spacious, elegant and fully fitted suites (one-bedroom apartments) and not hotel rooms - offering more space, privacy, equipment and superior customer service.

An environmentally friendly architectural and engineering project, maximising the use of solar energy and rain water and leveraging the utilization of environmentally sensitive features across the resort.

How the Finance works

Prices vary from €255k-€295k depending on size/view (sizes are 60-90 sq metres), 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 – Mortgage 80% of all prices!!

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

The spreadsheet shows that the mortgage figures (based on a conservative 3% rate) show the following –

Years 1-3 on interest only €6,120 a year (€510/£425 a month)

Year 4 on interest and repayment - €11,033 a year (€919/£766 a month)

More Information

If you have any questions or would like more information please enquire quoting Ref: AHM