Serena Court, El Vergel, Spain

Serena Court, El Vergel, Spain

The whole building is attractive in Spanish style and is only about 2 km from the beach. A new by-pass is currently under construction which will significantly reduce traffic in the area and is due for completion within the next few months.

All apartments are sold with a garage space (value 9,000€) and also will come with a trastero (storage) which are to be built on the first floor,the ground floor will be shops.

The roof will house the aircon units (pre-instalation in all apartments) in a covered area,and there is to be a roof top swimming pool with decking surround.This offers much more privacy than a pool in the garden of an urban block and the views are pectacular to the mountains.

Much of the views to the back and side are campo and mountains, and there are distant sea views of Els Poblets.

Rental Market
Spanish property in the Costa Blanca North is underpinned by three solid pillars of profit:

1. Euro interest rates are low (yes the euro rate will rise a little this year but will remain low in historic terms)
2. Immigration is still rising.
3. Demand for property from International buyers is still strong, especially in the Costa Blanca North.

Of course the rate of growth is likely to slow down but there are a good few years of growth ahead of us yet.

There is a strong long term rental market in the area with 1 bed apartment achieving 400 - 450€ per month and 2 bed 550 - 650€ per month.

Purchase Procedure

1. Secure the apartment for a 3,000€ reservation deposit.
2. Borrow the balance of 20% deposit on an interest only personal loan at 7% pa.(dont forget this is for only 9 months)
3. Convert the total borrowings to a mortgage on completion at 80% of bank valuation (constructors facility) representing a possible 100% mortgage. OR Use the services of our financial associates to provide total funding.

Key facts

• Prices from €96,000
• Completion June 2007
• Unit types 1-2 bed apartments

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