LUXURY APARTMENTS FACING THE GOLF COURSE
Pine Cliffs Residence 2-bedroom ground floor apartment with a return on investment of 5% in the first five years (total of 25%) and includes 26 weeks of owners usage yearly. Fully furnished. Pine Cliffs Residence expresses its very own lifestyle while benefiting from services it provides through the facility Casa Pine Cliffs, home to the development’s reception.
Pine Cliffs Residence comprises 154 luxury apartments, in two and three-bedroom formats, located in the middle of a pine grove of immense scenic beauty suspended above the sea and next to the Pine Cliffs Resort golf course.
A natural paradise of luxury and exclusivity for you and your family to enjoy. Pine Cliffs Residence is an investment in a branded The Luxury Collection holiday home. Owners benefit from a guaranteed rental return during the first five years.
A place that offers everything you have ever dreamed of, created to fulfil your heart’s desires and designed to satisfy your dreams of owning a home in a unique place in the world. A place where every detail has been attended to. As a property owner of the Pine Cliffs Residences, you are entitled to special discounts within the resort such as restaurants and bars, Pine Cliffs Golf Course, the beauty salon, Porto Pirata – Children’s Village, tennis, boutiques, among others.
When you purchase a freehold property at Pine Cliffs Residences/suites you own the property outright. However, you engage in a 10-year mandatory rental agreement as these are commercial units and will be subject to Touristic Exploration. During those 10 years the owner has a number of weeks to use (26 weeks in the Residences & Suites) with his/her family and friends for personal time (please see below) and the rest is placed into a rental pool along with all the other owners and rented on the owners’ behalf. For the first 5 years of your 10-year agreement, we will guarantee a minimum 5% return on your investment. Meaning that whatever is generated within the rental pool after all costs have been taken out, but pre-tax, if it is lower than 5% the company will top up and give you 5% if it is more then you get more. After the 5 years the guarantee ceases to exist and whatever is generated in the rental pool is what the owner will get after costs.
Pine Cliffs distribute the income daily between all the owners that have their unit available each day for rental, in other words not using their apartment. However, as long as the owner has their unit available in the rental pool (even if it does not get rented) they still get a return. Meaning that the less number of nights you use you will potentially get more income. For example, if you use 4 weeks per annum and someone else uses 26 weeks then they will get proportionally less income, as opposed to someone that is using less amount of nights/weeks.
Usage period Pine Cliffs Residences
Each year the owner is entitled to 26 weeks private usage of the apartment:
– High season: Restriction of 2 weeks (July or August)
– 24 weeks to be used in the rest of the year.
Privileges of owners.
All owners of Pine Cliffs will be entitled to the following discounts at the resort:
· 25% on Food & Beverage
· 10% in the Resort’s Jewelers Shop
· 10% in the Resort’s Boutique
· 10% in the Resort’s Wellness Experience
· 15% on Porto Pirata – Children’s Village
· 15% on Tennis
· 25% on Laundry
· 25% on Mini Golf
· 30% on Hotel & Golf Suites Rack Rates
· 20% on Townhouses & Residence apartments Rack Rates
- Bedrooms: 2
- Bathrooms: 3
- Type: Commercial property
- Location: Albufeira
- Built area: 167 ㎡
- Energy rating: N/D
- Ownership: Privado
- Ref: A1333MT
- 24h security within resort
- Air conditioning
- Alarm system
- Communal pool
- Fully fitted kitchen
- Fully furnished
- Garden views
- Good internet performance