Country: Portugal
6 May 2009
Azulara, a luxurious five-star off-plan residential resort, located on the largest and most popular of all the Portuguese islands, Madeira, has appointed a new estate agent, in an attempt to boost sales.
The scheme, which will eventually consist of 112 apartments and 61 Villas, had its marketing budget slashed, following poor sales levels, in light of the sluggish global economy.
However, following the sale of 30 off-plan units, the scheme, which will eventually include a spa, gym, swimming pools and exclusive members club, has stepped up its marketing strategy. Estate agent, Property Frontiers, has been awarded exclusive access to 30 individual apartments – one to three-bedrooms – and claims to have negotiated an exclusive deal whereby the developer will provide a 13% gifted deposit along with 85% mortgage financing, leaving investors able to purchase one of these properties with just a 2% deposit. With apartments starting at €251,530 this means investors need to find just €5,031.Although far from immune to the global financial turmoil, the local economy in Madeira, supported by strong year-round tourism levels, is buoyed by mass infrastructure improvements, and relatively strong demand for property in Maderia. The introduction of low-cost airlines, such as My Travel and Easyjet, means the island looks well equipped to whether the storm.
“After conducting thorough research on the Madeiran economy and housing market, Property Frontiers decided to launch the Azulara project to our investors,” says Christopher Chadd of Property Frontiers. “The key reason we believe in this project is one of supply and demand and occupancy rates. Official government statistics point to occupancy levels for five-star tourist apartments on the island at 91.1% for 2008, with some months being as high as 99%.
Chadd adds: “Due to the geography and landscape of the island combined with planning laws and local protection, land availability on the island is at a premium. With Azulara occupying one of the most stunning locations on the island, we believe it presents a very rewarding investment opportunity.
”The island has not had the same exposure to the boom and bust cycles that much of the developed world has, and as a result prices have steadily increased over the past 10 years without getting out of hand. With our prices coming in at 20% below market value, Azulara offers fantastic value for money. Out of 112 apartments - 30 have already sold – we also have exclusive access to another 30 units.”
See Also: Madeira, Portugal
Price: £17,914
Type: Apartments
Bedrooms: 1
The avant-garde hotel occupies a privileged position at the top of panoramic cliffs overlooking both the Atlantic Ocean and the 18th hole of the Sir Nick Faldo designed golf course as well as the clubhouse.
View details | Enquire further
Price: €29,500
Type: House
Bedrooms: 3
This is an ideal restoration project in a perfect area just on the edge of a small village.
Price: €30,000
Type: Land
Wonderful plot to construct a new house in this popular area of Penacova – not far from the rio Mondego.The position is stunning, there are 2 large terraced areas supported by stone walls.
Price: €35,000
Type: Detached House
Bedrooms: 2
A detached house in need of modernizing set in a village location in Central Portugal.It’s within a 10 minute drive to the town of Mortagua with all facilities including a railway link to Coimbra, Lisbon and Porto.220
Price: €43,500
Set in the heart of the forest this property has an outstanding position.At the head of a valley it has unspoiled views which can only be appreciated when you see them.
Price: €39,000
The main attraction with this property is its location, the views are outstanding.The majority of the building will need to be reconstructed but with the potential of its position it would make a lovely home in Central Portugal.220
Price: €45,000
Rustic house to restore in a village setting with views of the river and barrage.It has recently had a new roof and is structurally sound but does require internal restoration.
Price: €46,500
Agricultural land located next to the Vila Sol and 5 minutes from Vilamoura. Is fenced and has pre-connection of water and electricity. Tank with a capacity of 4000 litters of water.Possibility to farming, warehouse or wooden house.
Price: €47,000
An ideal restoration project, it’s a sound building with all main walls and timbers in very good condition – making this property very easy to restore.All interior divisions need to be re-designed to allow the space to be used more efficiently.
Price: €49,000
A Wonderful Property situated in a peaceful village not too far away from the town of Mortagua. Water, electric and telephone are all connected to the property.The house could be lived in, all it really requires in a good tidy!220
Price: £125,600
Bedrooms: 3 Baths: 2 - 1 ensuite
Kitchens with cupboards, hob/oven, fridge/freezer, washing machine, dishwasher. Pool, gardens, tennis courts.
Price: €69,000
Bedrooms: currently 2
Great potential: structurally sound - all walls, floor & roof in good condition. Large barn & courtyard.
Bedrooms: 2/3
Arganil: edge of village, open views. All main walls in good condition. Most of wooden interior still sound.
Price: €90,000
Completely renovated. Re-wired, replumbed & tiled throughout. New ceilings, floors, doors and windows.
Prices from: £147,200
Bedrooms: 2 & 3
Off-plan in Fuseta, Olhao. 30 two-bed, two-bath apartments & 20 three-bed, three-bath semi-detached villas.
Price: €785,000
Funchal: Luxury, comfort and practicality. extensive external terraces. Access to 18-hole Palheiro Golf course.
