segunda-feira, 21 de janeiro de 2008

Algarve real estate agency identifies off plan niche

BUYING a home before constructing has even started may sound like a risky business but more and more people are queuing up to invest in this way, due mainly to the strength of the returns.

With an artist’s impression, computer graphics and a detailed set of plans many agree that off plan purchase is the best way to buy a price below the finished value of a property and buy into an emerging or expanding market.

So what is the average return on investment ? Sales Manager Paul Cotterell comments: “It varies from project to project. Successful real estate investors say you make your money on the purchase, not on the sale.”

He adds: “If you continue to wait to purchase then when will you have something you can sell ? Historically we’ve seen units double in value purchasing in this way but I’d say on average, you should expect to see at least 12 per cent per year.

“As an example we sold a property at 300,000 euros. The client paid the deposit of 30 per cent witch equals the investment as the rest is paid on completion. If that property is sold in two years at 390,000 euros, you’ve made 55 per cent or 27,5 per cent a year. is our leading marketing tool and most quoted when we ask clients, looking to buy or rent, how they heard of us. The introduction of a site for investors was the next logical step forward for us”, said Cotterell.

Mar da Luz is a Casas do Barlavento recommended investor development at the private Porto Dona Maria resort near Praia da Luz. The Portuguese former President Dr. Jorge Sampaio is a regular visitor and property owner there. Porto Dona Maria is set in a total area of 285,000 m2 of ecological natural land with fantastic views to Luz Bay and the entire Lagos coast line.

Luxury villas, town houses and apartments are built in a traditional style and facilities include a small café, restaurant, swimming pool with terraces, tennis courts, plus pitch and putt golf and driving range. Casas do Barlavento is selling a private condominium within the resort, comprising 43 luxury two and three bedroom apartments.

Construction has just started. Ground floor units offer private gardens with optional benefits of private swimming pools or Jacuzzis and top floor apartments boast a mezzanine floor with access to a large private roof terrace boasting amazing views. Prices for two bedroom apartments start at 293,000 euros.

Quote: Cutting Algarve Residence, 20 July 2007

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