Buy Now pay later PAY ONLY 10% deposit with Promissory Contract and have IMMEDIATE access to the apartment; Completion deed in ONE year;
Guaranteed rental 3,5% guaranteed rental agreement for 1st two years, with 8 weeks usage for owner (4 weeks during November to March; 2 weeks in April, May or October; 2 weeks in June or September);
Pay less 1st year rental income deducted from the sale price at the time of the completion deed (i.e. 238.000 * 3,5% = 8330 Euros);
Monthly income 2nd year rental guarantee paid monthly with a Portuguese bank account;
NO condominium fees for 1st year;
NO utilities bills for 1st year;
NO rates for 1st year;
Financing available with Barclays with a LTV of 70%.
terça-feira, 29 de janeiro de 2008
UNIQUE SPECIAL OFFER
1st floor 1 bed – 238.000 Euros
Ground floor 1 bed – 231.000 Euros (Direct access to the pool)
RESERVE TODAY and START USING your NEW APARTMENT IMMEDIATELY
NO COSTS for 1st YEAR
segunda-feira, 21 de janeiro de 2008
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. www.casasdobarlavento.com 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
In the real estate market the term “dream house” is much bandied about, but the real dream has always been the holiday home. With primary residences you have to bear in mind commuting distance, school district, storage space, resale value. However, people feel freed from such practical constrains when looking at a holiday home for a different set of needs, such a recreation, retreat and reunions.
Luis Ledo, Managing Director of the real estate agency Casas do Barlavento, warns that the factors one looks for in a primary residence must also come into play when searching for a holiday home. “Buying an overseas property means different things to different people. Some want a straightforward financial investment and, however distant, it can seem a safer bet these days than stocks and shares or pension plans.
“Others buy for a total change of lifestyle and plan to spend the rest of their lives in sunnier climes. Some opt for a combination of personal use and to be able to let their asset to cover the running costs.Today British purchasers are much more aware of the overseas market, but some do get carried away with the ‘dream’. Even if you plan to buy a property for your family to use for years to come, you still want to know you’ve made a wise investment.”
He continues: “With much more competition from emerging and cheaper markets, such as Croatia and Bulgaria, the western Algarve is still looking good as an investment proposition. It can’t compete on price but it competes on any other factors. The quality of build is far superior to many other European destinations and our old rival, Spain, has had some terrible publicity lately.
“Portugal is also attractive because of the crime rate is low. Ease of travel is another factor, with so many regular and reasonable flights to and from the UK and such a short flight time in comparison to other destinations.
“Portugal’s infrastructures and road systems are now very good, cutting travel times to and from the airport and making the whole of Portugal easier to explore. We are also attracting high profile events with everything from major concerts to golf, tennis, sailing and motor biking events that attract a diverse range of people. Communication is simple as the majority of us speak English. It’s all makes for an enjoyable, easy experience.
“The region from Lagos to Sagres continues to offer excellent capital growth and returns. Within the last five years capital growth has been in excess of 10 %. Aljezur on the west coast is a great option on the moment. You can still pick up plots of land at reasonable prices and new developments are starting to take shape. When choosing a property for investment, consider all the key factors such as the right location, quality of build and amenities – but make sure you have an exit strategy.”
All agents have off plan properties on their books but Luis explains the difference of this newly launched website, http://www.algarve-offplan.com
“We have a dedicated team looking for projects specifically to suit the investor and we simplify the process for them. We perform due diligence checks to ensure all the necessary licenses and paperwork is in place. Our network of contacts with local developers and builders enables us direct access to early off plan opportunities before they come to the general market, ensure a more attractive price. Off plan purchase is still the best way of maximizing return.”
With offices in Lagos, Aljezur and Praia da Luz, Casas do Barlavento as established itself working exclusively in the western Algarve.
Quote: Algarve Property Magazine
The Algarve is best known for its luxurious resorts. But for those not attracted to a resort lifestyle but who want a second home within a community, there are plenty of alternatives, such as the pretty fishing port of Lagos.
This town, with a population of 27,000, lies at the west end of this unspoilt stretch of coastline and in the past 18 months it has undergone massive redevelopment.“The last phase of the big marina project is being built out of an old brick factory and European Union money is going into a new town centre park, a two-storey underground car park and cafes on the seafront”, says local agent Luís Ledo of Casas do BarlaventoOther plans include building a new footbridge so that visitors can cross over the river to the beach, and creating a man-made lake in the main seafront square and a beachside center with clubs and bars.
You can buy a new two-bedroom apartment at the marina just for under £200,000, according to Ledo, which rents for nearly £700 a week for 10 to 12 weeks of the year.
Ledo is also selling 86 apartments at A Muralha next to the old town walls. Two bed apartments with balconies, parking and a communal pool start at £152,000 and can be let at £575 a week.“
The bonus of being in the center is you don’t need a car as you can walk to most places in five to ten minutes”, say Ledo.
Alvin and Pat Robinson, in their early 60s, are typical of Lagos town dwellers.
Three years ago, the couple from Bromsgrove, Worcestershire, bought a £115,000, two-bedroom, two-bathroom ground floor flat with a patio overlooking a communal garden and children’s playground on the marina.
They spent a further £17,000 in legal and agent’s fees, taxes and to furnish their new home.
“We don’t bother hiring a car”, says Pat, a secretary at an accountancy firm.
“The center is a 15 minute walk away, the supermarket is close and Palmares golf course is five-minute taxi ride away.
“In England we live 20 minutes from Birmingham airport, the Monarch flights cost about £140 each return and the drive from Faro airport to Lagos is about an hour”, says Pat.
Ledo, who sold the Robinsons their flat and manages it as well, rents it out for £600 a week for four weeks in high season. Liz Hollen, from Winkworth in Lagos, believes the new A22 motorway that reduces a former two-hour journey from Faro airport to an hour has put the town on the map.
“Young couples are buying in the town. You can surf, sail, play golf – another course is planned next to the beach – and enjoy meals in good restaurants and bars”, she says.Older two bedroom apartments cost about £95,000. A two-bedroom flat is £166,000, and a three-bedroom with views of the Bay of Lagos is £305,000.
Quote: Cheryl Markosky, The Mail on Sunday, 21 October 2007
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With offices in Lagos and Aljezur, Casas do Barlavento has established itself as a pro-active professional force in real estate, working exclusively in the Western Algarve. Today the company launched its third office at a prime location in Praia da Luz.
Although a relatively young company Casas do Barlavento have secured and established an excellent reputation during their 4 years of operation due to their highly qualified sales staff. Led by Sales Manager Sally Moore, they pride themselves on their customer centric approach providing a comprehensive and consistent before, during and after sales service for purchasers or vendors. Their standard of service has been the benchmark for others to follow and is making them the first choice in the Western Algarve.
Managing Director Luís Ledo, who set up the company in partnership with João Prieto, comments, “We’re launching our new office at a very exciting point in our growth and the continued growth of the West as a whole. We have established our credibility on best practices by focusing on providing clients with a friendly, responsive and committed service. We believe in utilising appropriate market driven technology and ensure all our properties are on all the leading property portals such as Primelocation.com, Propertyfinder.com, Rightmove.co.uk, Europeanproperty.com, Themovechannel.com, Propertiesabroad.com, Propertyworld.com, Algarveweb.com and Prestigeproperty.co.uk to name a selection.”
"Our new office is in a prime location right in the heart of Luz and allows us access to an even wider audience than before. From here we can fulfil the requirements for our residential, corporate and investor clients so this puts us in a very strong position in the market place.”
The office will be managed by Isabel Tavares, who has been the local bank manager for 15 years at Caixa Agrícola’s branch in Luz, consequently she knows the area, residents and locals exceptionally well.
Isabel comments, “I am delighted to be joining Casa do Barlavento, their experience in real estate, property management, rentals and project management is second to none. I believe them to be the best in the region or I wouldn’t be giving up my career at the bank for the opportunity to work for them. I know my knowledge of financial institutions will ensure we can offer a unique and truly personalised service to our clients. In addition to our real estate listings we will also offer sound advice on mortgages, finance and the legal aspects of buying a property in Portugal.”
The impressive portfolio of properties includes apartments starting from 89,500 €, to luxury villas up to 4.5million €. Their area of operation goes from Carvoeiro to Sagres and including the upcoming Aljezur area.
An example from their property portfolio is an attractive five bedroom villa set in a 677m2 plot, located near to much sought after area of Porto Mós beach. The accommodation is arranged over 3 storeys with roof terrace and sea views. The ground floor comprises of fully fitted kitchen with pantry and laundry, open plan living & dining area, plus a small office and the master bedroom suite with an additional shower room.The First floor boasts a spacious living area complete with bathroom, 2 bedrooms and an office (9m2) with a workshop. In the basement, there is 100 m2 garage. The garden with a covered BBQ area, has plenty of space to add a pool. There is also the additional benefit of a garden/pool room with games area and shower room, this could easily be converted into extra self contained living accommodation along with the garage. (Reference M/01037 - Villa – Lagos) The property is priced at £ 379,100.00.
For people who are not familiar with the language, procedures and customs in Portugal, buying a home, moving in and taking care of it afterwards can be a complicated and even costly undertaking so Casas do Barlavento offer additional support with services such as project management, property management & holiday rentals giving their clients complete peace of mind.
The price boom seen in the Algarve during the last 10 years has ensured excellent growth and meant that properties have on average appreciated by some 12%. Recently undertaken analysis by Casa do Barlavento shows that during their 4 years of operation they have seen examples of properties, especially plots, that have doubled in value.
The future of Casa do Barlavento looks set to flourish as they continue to build a reputation for quality products and tailor made service. They promise prompt feedback, fast accurate valuations, excellent marketing materials and personalised customer service.