Description

Corvera Golf & Country Club is a residential complex located in the municipal area of Corvera, 22 kms from Murcia, the region's capital.

Set in a picturesque valley and surrounded by mountain ranges, this really is a stunning location. The complex is integrated into a beautiful natural setting, where residents' safety, the quality of the homes and the peace and quiet it offers are all paramount.

Imagine an 18-hole, par 72 golf course, designed by Jose Maria Olazabal, where you can live with a wide variety of exclusive services that will match all your requirements for comfort and safety.

ARE YOU LIVING IT OR DREAMING ABOUT IT?

Points to note 2.000.000 metre square plot 1800 properties between apartments, townhouses and villas 91 % of land dedicated to green areas. 18 hole Par 72 course designed by Jose María Olazabal including his characteristic features of 3 lakes and a river. The Club captain will be Sam Torrance. Both the Hotel and the Golf Course will be run by the De Vere chain (responsible for other such prestigeous courses as The Belfrey), making this their 1st endeavour outside the UK De Vere will run and control 100% of the Golf Course so shares will not be available. Residents will enjoy substantial discounts on green fees and golf rights, with membership options for various lengths of time. Corvera Golf Resort has signed an agreement with De Vere Hotels Group. Given De Vere’s extensive experience in golf hotels management, the De Vere agreement will include the management of Corvera Golf’s golf course. This is a clear indication of the De Vere belief in the Corvera Golf project. Private sports centre for residents and hotel guests with tennis, paddle tennis, and basketball courts as well as a five aside football pitch. Small boutique style shopping centre with carefully selected businesses to cover all basic needs of residents. Fully enclosed with 24 hour security(both active and CCTV) In-house management company. Designed by the same architects as La Alzambra, Bahia del Velerin (Archiplan)
Location Corvera, Murcia region – Costa Cálida 35km to the beaches of the Mar Menor 30 km from San Javier International airport 5km to the new Corvera International Airport	Map
Apartments 2 and 3 bedroom apartments and penthouses in blocks of 6 apartments. Ground floor will have sole use of garden areas in front. Maintenance in charge of the Community. Penthouses will enjoy sole use of solariums Block will be elevated so golf views are usual (always depending on apartment location). Underground garage and storage included in price. Communal gardens and pool areas	Townhouses 2 and 3 bedroom townhouses Communal garden and pool areas Underground garages	Villas 2, 3 and 4 bedroom villas Plots from 400m2 to 600m2 Landscaped gardens

Prices From:	€189,000 - 1st Floor Apartment	Prices To:	€550,000 - Villas
Reservation Fee:	€3,000.00	Build Size:	Various
Mortgage Available: Yes - Please Enquire regarding mortgage options
Investment potential: Excellent
Completion Projections : Development due for completion June 2006

Apartment & Villa model types:

Apartments Menta 2 & 3 Beds

Prices from 223.000 €

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Apartments Tilo / Laurel 2 & 3 Beds

Prices from 193.000 €

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Villas Canela 2 Beds

Prices from 275.000 €

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Villas Magnolia 2 Beds

Prices from 285.000 €

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Villas Brezo 2 Beds

Prices from 370.000 €

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Villas Olmo 2 Beds

Prices from 430.000 €

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Villas Nogal 2 Beds

Prices from 550.000 €

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Images

(Click on any of the images to enlarge)

	Master plan
	Show house apartment: Livingroom
	Show house apartment: Livingroom
	Show house apartment: Livingroom
	Show house apartment: Bedroom

Financials

Reservation Fee: €3,000.00 - Required immediately to reserve unit and freeze price

Deposit: 15 % one month after the initial reservation on signing of PPC (Private purchase Contract) 15 % is required 12 months after the deposit.

Completion: 70%

* All prices are subject to IVA @ 7%. See case study.

Mortgage Example

On a Corvera Golf unit at a cost of €189,000 after paying the required 15% initial deposit and then second 15% installment investors will look to mortgage the remaining 70%. This results in a total mortgage value of €132,300 + 7% IVA = €141,561.

Interest Only Mortgage Option

€141,561 could be placed (Subject to status) on an interest only mortgage at an example rate of 3.68% resulting in monthly payments of €434.12.

Capital Repayment Mortgage

Alternatively the remaining €141,561 could be placed (Subject to status) on a capital repayment mortgage over 30 years at an example rate of 3.68% resulting in monthly repayments of €649.98.

* Potentially mortgage repayments can be off-set against property rental.
* Repayments shown are monthly
* LTV based on assumption that final valuation on completion will be at least 5% more than the purchase price
* On LTV´s where we have quoted balance due, an amount up to 80% is available
* All loans are subject to status and age at the time of application
* Your home may be repossessed if you do not keep up repayments on your mortgage

** Please note that above information is intended for example purposes. For current accurate mortgage information please contact

Case study

Why is the Corvera Golf and Country Club a good investment?

* Only €3000 and 15% deposit required
* 2 Bed Apartments from only €189,000
* Golf club captain is Sam Torrence and course is managed by the De Vere group
* Many facilities including sports and shopping centres, health centre and hotel.
* High rental demand expected due to above facilities and location
* 24hr security

With potential rental from Golf, and country lovers extending the rental window to much of the year and in addition to the amount of in-house facilities this is sure to be a popular investment, generating good capital growth and rental demand. Investors will be interested in the excellent property prices and only 15% deposit.

Investor Protection:

* Building license in position
* Bank guarantee in position
* On site management and rental office

Example Case Study:

1. Investor X decides to purchase a 2 bed apartment on the Corvera Golf development for €189,000. Initially he pays €3000 to reserve his prefered unit and to freeze the price. After around 30 days he signs the purchase contract (PPC) and is required to pay 15% of the value of the property. This amounts to €25,350 (€28,350 - €3000 deposit already paid). The investor is also required to pay 7% IVA on the €28,350 (which amounts to €1984.50) making a total required payment of €30334.50.
2. Investor X is then required to pay a further 15% + IVA, 12 months after the contract signing. This amounts to €30334.50
3. On completion of the property the remaining 70% + IVA of the value of the property is due and investor X seeks a mortgage over 30 years to repay this.
4. Investor X decides to operate a "buy to let" policy and utilises the on site management company to manage the rental of his property while also advertising at local golf clubs to ensure he enjoys a high occupancy level and corresponding income stream.

* Please note that above information is intended for example purposes only. For more information regarding mortgage options see example in Financials section of this investors report or for current details speak with your IPIN advisor or contact info@propertyshowrooms.com

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