€20,000 Discount Available on Four–Star Portugal Property from the Oceânico Group
Upmarket property developer the Oceânico Group is offering discounts of €20,000 – or alternative incentives – on its last remaining properties in the western Algarve
05/03/08
Investors can save €20,000 on a luxury Portugal property, with the Oceânico Group offering the discount on its last remaining properties at the Vila Baia, Estrela da Luz and Jardim da Meia Praia resorts in the western Algarve.
Prices now start from €155,000 for a four–star studio apartment at Estrela da Luz, with the discount available on a range of studios and one, two and three–bedroom apartments at the various resorts. Investors will also receive 10,000 points credited to their Oceânico Rewards owners loyalty card – one point has the value of one euro, and points can be redeemed against a wide range of products and services offered across Oceânico’s golf and leisure operations.
Alternatively, instead of the discount and rewards points, investors can choose to take advantage of no condominium fees, golf membership of seven Algarve golf courses, and a rental guarantee on the property – all for two years from the purchase date.
Nikki Loker, sales and marketing director of the Oceânico Group, said: "All of the developments have proved very popular, so we only have a limited number of properties left. With Portugal continuing to be one of the best locations for property investment, with steady growth and an upmarket reputation, investors can choose between these two new incentive packages, depending which option suits their requirements best."
Portugal’s property market continues to show strong capital appreciation, with four and five star resorts, such as those offered by the Oceânico Group, showing an annual 10–15% capital growth rate. It also offers a stable rental market, returning around 4 - 5% of the purchase price per annum.
The brand new Vila Baia resort features luxury apartments with state–of–the–art appliances, two large swimming pools, an Italian restaurant, tennis court and children’s playground, and is set just 200m from the beach. Prices now start from €210,000 for a one–bedroom apartment, including the discount. These incentives are applicable to outright purchases only and are not available on purchases of the Stepping Stones fractional ownership properties at this resort.
The Estrela da Luz resort offers four–star studios and apartments less than 200m from the beach in Praia da Luz, with facilities including two outdoor pools, a children’s pool, an indoor pool, a gym, the Hugo Beaty Bar & Café, the Calabaza restaurant, and Estrela Health & Beauty. Prices here now start from €155,000 for a studio apartment, including the discount.
Jardim da Meia Praia is a stylish resort near Lagos, where one three–bedroom townhouse is available, now priced at €350,000. Facilities include the renowned Destino restaurant, a large outdoor swimming pool, tennis court and landscaped gardens.
Oceânico Group is the market leader in luxury golf, beach and leisure resorts in Portugal, and owns seven golf courses in the Algarve – five in Vilamoura (Oceânico Victoria Course where the Portugal Masters is held, The Oceânico Old Course, Oceânico Pinhal, Oceânico Laguna and Oceânico Millennium) and two new courses at its Amendoeira Golf Resort near Silves due to open later this year (one designed by Nick Faldo and one by Christy O’Connor Jnr).
For full information on the savings visit www.oceanicogroup.com