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Some vendors offer a rental contract that
provides you with a guaranteed annual income, this is ideal if you require a
property as an investment that “pays for itself” and only wish to use it for
one month a year. Usually there are no running costs to pay as these are
paid by the rental company. Below is an example of such a property located
close to the sand dunes, protected parkland and beaches of the tourist area
of Corralejo with its many facilities, such as restaurants, bars, markets,
supermarkets and the new Water Park.
The property is situated in a very well maintained complex popular with holidaymakers; it has a large communal pool and many other amenities. Purchase Example Sale Price 138.830 Euros (£95,745) Rental Income per year 8,640 euros (£5,958) This represents 6.2% return on capital + 15% - 20% Capital Growth Mortgages Available of 80% i.e. 80% of £95,745 = £76,596 20% Deposit Required = £19,149 Repayment of mortgage, 20years @ 3% interest = £290 per month or 424.80euros, which is amply covered by the guaranteed rental of 720euros per month
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