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Guaranteed rental income of 7% for 3 years

The hotel operating company will provide a7% guaranteed rent for 3 years on all Residences. Projections suggest the average rental yield for Residences under management will be in excess of 5% per annum. The properties are a freehold purchase. Contracts are available in Portuguese and English. A mortgage pack is available offering purchaser’s 80% loan to value.

Purchase Process

Reservation Agreement signed and €6,000 paid to reserve a Residence.
Promissory Contract signed and the agreed deposit paid.
Fiscal number obtained from the local tax office, completed by your legal representative.

• 6.5% MT tax (stamp duty) based on the purchase price of the property excluding the value of fixtures and fittings.
• IMI (local) tax is payable at a rate of 0.8% P.A.
• Legal fees are paid at a rate of between 1% to 1.5%, a more favorable rate will be made available to Residence purchasers.
• Typical land registration fees are circa €400.

Payment terms:

 €6,000 to reserve your Residence
 25% on signing promissory contracts
 The remaining balance on signing the deed, which happens on delivery of the finished apartment.

Structure

Property Owner

Grants a 20 year Management agreement to the operating company.
Has 2 weeks free usage annually.

Hotel Operating Company

Owned by Barry Harte Holdings Limited i.e. Harte Holdings.
Grants a 20 year management agreement to Radisson Hotels to manage the hotel and apartments.
Hotel operating company guarantees property owners a 7% rental income for 3 years.
Radisson will manage and market the apartments to maximize income for owners.

Kindly we would like to inform you of the following:
Projections are based on the track establishing itself during years 1-3 (growth rate of 8% P.A. projected), with accelerated appreciation thereafter due to high profile track activities.

Taxes, laws, prices and regulations might be different on the moment of purchase, please verify your personal (tax) situation with your lawyer.

The information on this website is for informational purposes. The information was correct on the moment of publishing however can be different on the moment of purchase. Exclusive Living Mediação Imobiliaria Lda always advises to use independent lawyers, mortgage brokers and other legal advisors. Our company is licensed under AMI -7516