Condominio Panorama - Luxury Apartments in Lagos – Algarve – Portugal

2 Bedroom Apartments from 273,600 Euros

Below Market Value - Property prices are discounted by 10% from the bank valuation price of the unit.

37 Completed luxury apartments. In a quiet established residential suburb, on one of the highest points of Lagos, a city rich in its history & hertige. These hill top apartments have exhilarating panoramic views, across the Bay of Lagos and the mountainous area of Monchique.

Located near the city centre, 1km from the Marina , 5 minutes from both Palmares and Boavista Golf and promimity of a variety of Beaches such as Meia Praia, which boasts 4km of white sandy beach as well as smaller beaches sheltered within the bay of Lagos. Many outdoor activities can be enjoyed and are close by including a windsurfing club, the Lagos tennis club just 5 min from the apartments, cycling within the surrounds of Lagos, and off road mountain biking in the hilly outskirts of the city. Lagos attracts much tourism throughout the year, due to many cultural festivals and it history.

Why invest in Panorama

• The apartments are below market value
• The project is completed and turn-key
• Exquisite finishing
• The Algarve has a stable property market
• No over development ensured by strict planning & building regulations
• Hugely popular tourist market to tap into for rentals
• No.1 Golf destination in the world (over 1 million rounds of golf played every year)
• Over 320 days of sunshine per annum
• Significant investment in the region including the Aerodrome and numerous sporting academies
• Close the Faro airport (50 minutes by car along relatively new motorway)
• A short drive from the new international motor racing circuit at Portimao
• The deal has been packaged so that investors can buy with as little as a 10% cash invested - please contact for details
• 80% LTV mortgages still available in Portugal demonstrating how strong the property market is
   

Apartment details

• Luxurious 2 and 3 bedroom including duplexes
• Outdoor adult swimming pool and out door children’s pool
• Furnished children’s games/playroom
• Spa area with: Gym, heated indoor pool, Turkish bath, Sauna
• Beauty treatment area
• Pool loungers
• Elevators

Specific to top floor penthouses:-

• Private roof top terrace
• 6 person Hydro pool
• Loungers

Area Facilities

Beach: 5 min
Town centre: 5 min
Marina: 5 min
Shopping: 2 min
Golf: 5 min
Hospital: 5 min
Faro Airport: 50 min

Rental Income

Property management specialists have predicted weekly rental figure for these apartments:

• Peak Season (July & Aug) – 2 bed 850 euros / 3 bed 1000 euros
• High Season (June & Sept) – 2 bed 725 euros / 3 bed 875 euros
• Mid Season (April, May & Oct) 2 bed 600 euros / 3 bed 750 euros
• Low Season (Jan, Feb, Mar, Nov & Dec) 2 bed 475 euros / 3 bed 625 euros

By using 2 proactive agents occupancy can be as high as 60%. Assuming this 60% occupancy, and using average weekly rentals of 700 euros for the 2 bedroom apartments and 900 euros for the 3 bedroom, this will generate:

• 2 beds: 21,840 euros per annum
• 3 beds: 28,080 euros per annum

Finance

The developers have structured a package that enables our clients to buy this property with a 10% cash invested. Portugese banks will loan up to 80% of the value of the property. We have secured a discount and cashback option allowing buyers to effectively secure a 90% finance option. Please register your details for full information.

The buying costs
Legal fees and purchase taxes are approx 7% of the purchase price.

Lagos - Area Information

Lagos, a mere 80km from the district capital Faro, a city which is centuries old with seafaring tradition dating back to 15th century, rich in its history being the department port of the great navigators, before they set out in voyages of discovery. Much of the ancient walls with history are still untouched, including an ancient Fortress which still stands guard over the harbour entrance. Lagos has grown to be a youthful town with a delightful charm of its own. The ancient maze of cobbled streets co-exists happily with the likes of the elegant new marina, vast amounts of restaurants and bars, pavement cafes and shops.

Over and above the many water sports that can be practiced along the western Algarve, many other activities are available in Lagos including parachuting, micro lighting, bike tours, horseback riding, dolphin viewing and much more.