Praia del Rey, Obidos, Silver Coast, Portugal - 1 Bedroom Apartment Property for Sale

Property Description

Apartment property. For the last few units remaining on this development there is an outstanding offer to have all purchase costs (generally as much as 7% in total) paid - this includes purchase taxes, legal fees up to €2,500 and the first two years of your mortgage interest!

Only 10 minutes away from Obidos, one of the gems of The Silver Coast, this development includes a 5-star Marriot hotel with all the trimmings – spa, gym, pools and haute cuisine restaurants – an 18-hole golf course and comparatively low-density buildings comprising villas, houses and apartments.   It boasts all the facilities one would expect from a 5-star resort and is set right on the beach at Praia del Rey.  All the villas, houses and apartments have been built to the highest standards and the resort is surrounded by mature woodlands.

The development will also have a commercial centre and is right on the beach.  There are around 350 units remaining from the total of 1,250 units.  150 of the remaining units will be built in the village, the balance of 200 on the resort.  In addition there are to be 53 managed units under the Marriot management – for rental only.

The site has 400 direct employees covering maintenance and other services.

The developer of this site will shortly also commence building on a further site 2km further north, again on the beach.  

We pay all your purchase costs, including IMT tax (Stamp Duty), notary, registration expenses and up to €2.500 in Legal Fees. These costs usually represent circa 7% of the sales price. We also pay your mortgage interest for the first 2 years, on a mortgage arranged by Praia D’El Rey (subject to status):

• Maximum term up to 30 years, or up to 75th birthday

• Mortgage of up to 80% of the sale value

• First 2 years of mortgage are interest-only and are fully paid for; thereafter, mortgage is a normal capital plus interest, with interest from 0,6% over 6 months Euribor

• No life insurance necessary

• Early repayment penalty: 0,5%

• Minimum loan: £75,000 or €100.000

This offer is available on a range of the last few two-, three- and four-bedroom apartments and townhouses in our beachfront village Vila da Praia, or at Aldeia das Caravelas, with prices from €257.500 (aprox. £200,000)

Come and experience life at Praia D’El Rey and the unspoilt Silver Coast before you buy.

If your would like to know more about these or other properties in Portugal then please dont hestitate to contact us now. More information is available on our knowledge base on Portugal.

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