Ribera Beach |
Development Report:
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Description
The “Ribera Beach” development
enjoys an exceptional location in the South-
East of Spain at the South of the Mar Menor (Murcia).
Murcia
region sits between two seas, the Mediterranean
Sea and The Mar Menor which is the largest
salt water lake in Europe, famous for Therapeutic
Properties. Likewise benefits arrive from a
superlative climate, boasting over 300 days of
sunshine a year, imbuing the area with a personality
which is hard to find anywhere else.
The idea for
this Development is that you may enjoy your
relaxation without wasting anytime, in a private
paradise combining peace and quiet within the
environment, enabling you to experience to the
full the pleasures of a lake that is unique in
Europe. Hence we are surrounded by a unique complex
that consists of a marina, tennis and sailing
schools, and 3 golf courses at only 3 kilometres
away.
This Residential Complex is located a few
minutes from the most luxurious sports complex
of Europe, “La
Manga Club”,
one of the best golf resorts in the European
Community.
In addition to the many benefits
offered by this area of the Mar Menor, there
are communications with any point in Spain
and Europe.
By air, Ribera Beach Urbanization
is 20 minutes away from San Javier Airport
and 50 minutes from Altet Airport in Alicante.
One
more charming attraction within this environment
is that it is only a few minutes away from
the Calblanque National Park, besides a number
of traditional fishing villages, where you
can taste the rich and varied cuisine of Murcia
region.
Points to note |
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Location |
Map |
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Apartments |
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| Prices From: | €164,500 | Prices To: |
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| Reservation Fee: |
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Build Size: | Various | |
| Mortgage Available: Yes - Please Enquire regarding mortgage options | ||||
| Investment potential: Really good | ||||
| Completion Projections: Finishing 2006. | ||||
Building specifications:
Reinforced concrete structure according to seismic
law, HA-25Characteristic and Steel type B-400-S
Double external closing with hollow bricks, thermo
insulation and cavity wall. Interior bricks 7 cms thick.
Façade of the house with “Cotegran”to provide maintenance
free.
Dividing walls among houses with double bricks
and thermo insulation.
Sloping roof develop with a brick
platform, compression gap and finished with curved
roof tiles.
Floor in roof solarium with inclination,
thermic insulation, waterproof, concrete floor and
non-slipped ceramic floor tiles.
Metal entrance door
lacquered in white with security lock.
Inside carpentry
in Tea-Mobila wood in its natural colour with brass
iron fittings and door handles.
Built-in wardrobes
in all bedrooms with one whole piece sliding door and
interior suitcase division.
White aluminium rolling
blinds placed into a compact P.V.C.box. Outside frames
in white aluminiun.
Double-glazing in all windows,patio
doors and kitchen door with air chamber:4+6+4.
Iron
grilles in all the windows ground floor.
Furnished kitchen
with extractor fan and electric boiler (75l in 2 bedrooms
and 100 l in 3 bedrooms).Granite counter.
Wiring according
to R.E.B.T., built in semi-rigid tube and Simon 31
in white for the switches and power points.
Plumbing
installation with 1 mm. thick copper pipes.
Bathroom
fittings model Victoria from ROCA in white colour and
taps ROCA or similar.
First quality wall and floor
ceramic tiles.
Rustic outside floor tiles in Gres,
first quality.
Buena Vista plaster in the entire house.
Coving
on the ceilings.
Mat plastic paint on walls and ceilings.
Built-in wardrobes
in all the bedrooms.
TV aerial, TV sockets and F.M.
in all bedrooms, telephone points in the living room
and in the master bedroom and wired in all bedrooms.
Vanity
unit and fitted mirror in the bathroom.
Preinstallation
of Air Conditioning.
Individual parking space for ground
floor teenants and optional underground parking spaces
for the other teenants.
Communal Swimming Pool.
Images & Plans:
(Click on any of the images to enlarge)
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2 bedrooms apartment |
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2 bedrooms ground floor |
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3 bedrooms apartment |
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3 bedrooms groundfloor |
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3 bedrooms penthouse |
Financials
Reservation Fee: €3,000.00 - Required immediately to reserve unit and freeze price
Deposit:30 % one month after the initial reservation on signing of PPC (Private purchase Contract).
Completion:70%
* All prices are subject to IVA @ 7%. See case study.
Mortgage Example
On a Santa Ana Golf unit at a cost of €98,900 after paying the required 50% initial deposit investors will look to mortgage the remaining 50%. This results in a total mortgage value of €49,450 + 7% IVA = €52,911’5.
Interest Only Mortgage Option (30 years)
€123,210’5 could be placed (Subject to status) on an interest only mortgage at an example rate of 3.68% resulting in monthly payments of €377,85.
Capital Repayment Mortgage
Alternatively the remaining €123,210’50 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 €565,72.
* 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 Ribera
Beach resort a good investment?
* 2 Bed apartment from only €164,500
* Only 30% Required on Private Purchase Contract.
* Close to Golf Courses.
* Many facilities in the nearer surroundings.
* Near to the 2 international airports.
* 500n distance to the Mar Menor.
With potential rental from Golf, beach and
tipycal Spanish living 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.
Investor Protection:
* Building license in position
* Bank guarantee in position
Example Case Study:
- Investor X decides to purchase a 2 bed apartment on the Ribera Beach development for €164,500.
- 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 30% of the value of the property. This amounts to €46,350(€49,350 - €3000 deposit already paid).
- The investor is also required
to pay 7% IVA on the €49,350 (which amounts
to €3454,50) making a total required payment
of €52,804’5.
- 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.
- 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
More information:
