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Project
Name: Tee 17
Total Investments: 286
Location
Situated only 10 minutes from both the city centre of Granada and also the international airport, it is very easy to reach the snowfields of the Sierra Nevada Ski Resort, which hosted the 1996 Ski World Championships, in only 25 minutes and is Spain’s number one skiing destination. The beaches of the Costa Tropical can be reached in around 40 minutes.
Investment Structure
Freehold
Completion
First quarter 2009
Rental Program
There is an annual guaranteed fixed yield of 5% of the purchase price for up to a 10-year renewable period.
Rental funds are transferred to the owner on a monthly basis in accordance with the owner’s instructions and can be transferred within Spain or to a bank account in any other country. The management company will take care of the property, including all of the maintenance.
Inclusions
Underground car parking
2 free parking spaces per apartment
1 free storage room per apartment
Automatic garage doors
Security entrance door
Double glazed insulated windows
Aluminium shutters
Fully installed air conditioning
Satellite TV and ADSL
Fully fitted kitchen
Terraces with pergola
Fully installed alarm system
Pre-installed intelligent home system
Built in wardrobes
3 large outdoor communal swimming pools
Fully equipped communal gymnasium
Spa are with sauna
Landscaped gardens
Gated community
Payment Structure
Initial deposit of 3.000€
10% at signing of contract within one month less initial 3.000€.
10% within 12 months.
Remainder due on completion.
Typical Purchase Example
Purchase Price: 186.000€
3.000€ initial deposit
15.600€ at sigining of the agreement. (usually within 30 days of the initial deposit)
18.600€ 12 months later
80% remaining at completion.
More reasons to invest in Granada
Granada has enjoyed 14% capital growth for the last 2 years according to the Spanish Ministry of Housing.
A guaranteed rental program with a trusted and established management company means a totally care free investment.
The fact that these Tour Operators and Travel Agents are giving such a strong guarantee indicates already why Medina Elvira is such an amazing investment.
It is situated in a unique location, only 1 hour from the fine beaches of the Costa del Sol, 35 minutes from the beaches on the Costa Tropical (Almu“ecar, Motril). Granada is ideally situated and easily accessible with a good infrastructure and an international airport.
A vibrant city with four major universities, home to Spain’s best ski-resort: Sierra Nevada and to the UNESCO world heritage site THE ALHAMBRA.
Last year tourist numbers were up by 25,88% in the Granada Region, this figure is expected to rise again this year with the increase of international flights landing at Granada Airport. Conveniently Ryanair, Monarch and British Airways fly to Granada.
Also one of the major tour operators in the UK is going to start marketing the Sierra Nevada this year as one of their ski-holidays.
Granada has one of the lowest occupancies in Spain and highlights such need for residential housing.
Granada has a very low cost of living in comparison to other Spanish cities of similar size.
Granada is easily accessible with flights to and from the UK daily via low cost airlines.
Spain is still by far the most popular place to buy for British looking to retire accounting for 25% of all purchases and is the second most popular holiday destination in the world.
Spain has a very stable economy.
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