Apartments with 5% yield - Pine Cliffs Suites - Algarve
Quarteira, Faro Portugal
$1,129,564
Price
5%
Cap Rate
3
Units
Overview
Description
Equipped in the vanguard of design & comfort, the new refurbished Pine Cliffs Suites are the ultimate luxury accommodation option for a family holiday or an intimate retreat, at Pine Cliffs Resort.
With its forefront location overlooking the unmatchable Pine Cliffs Golf Course and featuring in-room state of art amenities, guests are indulged with spacious apartments with independent room options. Doorstep with Pine Cliffs Resort luxury services, all units feature a fully equipped kitchen and laundry, Wi-fi internet, and LCD televisions in all rooms with the latest generation technology.
SERVICES & AMENITIES:
- Air Conditioning;
- 24 hour Security;
- Swimming-pool;
- Concierge Service;
- Premium TV channel;
- Voice mail;
- Wake up calls;
- Complimentary toiletries;
- Hairdryer;
- Iron / ironing board (on request);
- Golf & Tennis;
- Serenity Spa;
- 13 Restaurants and Bars;
- Children's Village;
INVESTMENT MODEL:
Mandatory 10-year tourism exploration contract, expenses & generated income shared proportionately by all owners in each rental pool.
YIELD:
Guaranteed return on investment of a minimum of 5% per annum for the first 5 years or 3% during 10 years.
OWNERS USAGE:
Up to 183 days/year, with a maximum restriction of 14 nights in July / August.
PROPERTY MANAGEMENT:
The Luxury Collection by Starwood/Marriott International
ADDITIONAL INFORMATION:
Once the 10 years have reached an end you have several options such as:
The contract is automatically renewed for another period of time;
You may renegotiate the agreement;
You pull out, no longer rent and use it for 52 weeks in the year, however, you are obliged to pay your personal and shared monthly/yearly running costs, i.e. condominium fee, utilities, insurance, etc.
Highlights
- Golf & Tennis
- Serenity Spa
- Concierge Service
- Swimming-pool
- 24 hour Security
- 5% Guaranteed Return