http://www.laplageportlixus.com
Ive bought into a condo hotel called La Plage where all rentals are pooled and re - distributed.
Here's why:
* Low risk - Government Plan Azure resort
* Hassle free - no lightbulbs to change or utility / local authority bills to deal with. No rental management for me.
* 5* mega resort in a different league to anything in Spain in terms of facilities
* Beachfront - not even a road will spoil the view
* 2 18 hole golf courses on an impressive beach - try and find that in Spain for £71000
* Nine 5 star hotels on one site
*Can resell easily - no hassles with exit routes (there will always be an excessive demand for ocean - front 5 * property)
* Long - term low hassle income, with low entry price
* Yield of 6% guaranteed for 2 years
* Expected yield thereafter between 9 - 13%
* Similar 5* condo ocean - front units in the Caribean or Canaries of this small size can be up to £300000. not to be confused with non 5* low facilties and non golf resorts.
* £29000 down within 1 year, balance on completion in 2 - 3 years, so limit extent of captial loss.
* Limited supply of Government mega resorts
* Close to airport and site of proposed Spain - Morocco tunnel
* Up - market British architects and interior designers appointed
* Short term gains are likely - although this is'nt my interest
* Close to UK & Spain
* Major yatching stop for the serious Atlantic types as a 700 berth marina is being built. They will like the 5* status and boating facilities
A freind purchased a property in inland Spain. The price agreed 2 years ago and which has not increased was £80000. It is a fairly dingy, low spec ground floor appartment with a very poor finish, no rental pool, no golf, no sea and no 5 star facilities. He has to furnish it himself.
His rentals will likely be sporadic and not that easy to manage.
