This spacious first-floor property is offered onto the market for…
Buy with a sitting tenant in one of two unique possibilities.
The apartment is a charming home in a pleasant area, in the Mar Menor vicinity, Spain.
Here you have shops, good restaurants, beaches, and a long, lovely promenade. Clients enjoy the cosy cafes just around the corner!
The apartment is situated 1500 metres from the beach. The apartment has been totally renovated including, new air conditioning, a new oven and a hot water boiler. The bathroom is fitted with a walk in Electrical power rain shower.
The entrance room has been fully double glazed including new PVC windows and door. The living room has a new pellet burning stove. All interior walls have been fully insulated, thus the temperature is warm in winter and cool in summer.
Los Alcázares, Mar Menor, Spain.
The apartment is located in Los Alcazares, a coastal spa town just 25 minutes from the Corvera international airport.
The Mar Menor which belongs to three other municipalities, San Pedro, San Javier and Cartagena attracts tens of thousands of visitors every year. They flock here to dip in the therapeutic waters (and mud!) of the area.
This is after all Europe's largest saltwater lagoon. Connected to the adjacent Mediterranean sea by several smaller channels and canals, it is a very popular destination for sailing, windsurfing, kiteboarding and other water sports enthusiasts. The water in the Mar Menor tends to be 3 degrees warmer than the "regular" Mediterranean waters, a bonus for year-round swimmers.
Los Alcazares plays host to numerous fiestas and festivals throughout the year. the most famous being a large medieval market at the end of every March. Another famous festival is 'La Huerta'; an international folklore festival in celebration of the region's status as the market garden of Spain.
The investment deal is as follows.
Purchase the property for 27,000 euros, less than half of its market value. If you'd like to talk to us about the second option; i.e. buying this apartment but keeping the current owner as a tenant we can help with this too.
The owner will continue to live there until such time as he moves back to the UK or into state care. He is currently 67. As an investor, you do not have to worry about maintenance, upkeep, rental arrangements or any of these headaches normally associated with buy to let property.
Better still you have no income tax liability as you are not earning an income. The owner reserves a Usufruct, a legal right, that cannot be taken away, to live there for the rest of his days or until he chooses to move out.
You can always sell the deal, giving you an easy exit strategy. In ten years, we estimate the value will have more than doubled. Our lawyers will structure th conveyancing so that the next buyer is aware of, and honours this agreement with the owner/tenant. You are the 100% recognised, legal owner and the deal is registered in the Land Registry of Spain.
Are you thinking of retirement in Spain in the next ten years? This might be your perfect stepping stone. Ask us how we can protect your assets and get you ready for the move over here. We have in-house tax experts on hand to help you.
If you'd like more details or a viewing, please just get in touch
Owning a home is a keystone of wealth… both financial affluence and emotional security.Suze Orman