House For Sale Heraklion Ad:54686

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Greece > Crete > Nomos Irakleiou > Dimos Heraklion > Bendevis

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€116,641

(GBP 100,492)

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House 2 bedrooms
For Sale
Bendevis
Greece

100% Finance Option Only �6,000 Required -
Highly Desirable Rental Property

`Olive Grove` is a beautifully designed complex of stone finished houses with private pathways and roads giving access to a large, shared swimming pool and sun terrace serviced by a small cafeteria and shop, above which are two apartments

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Detailed information

A truly stunning development of 32 stone finished houses and 2 stone finished apartments with views down over the surrounding countryside to the sea, only 10 minutes drive away.

The development, which will be completely finished in stone to a very good standard, will have it s own roads, a large shared pool and terrace area, mini-market and small cafeteria by the poolside.

Interior Living Space Apartment (first floor)- 55 & 57 square metres plus balconies from the bedroom.

Apartments have an open-plan living/kitchen/dining area with 1 large bedroom and bathroom.

Some interior walls are also finished in stone with apposing walls having a smooth painted finish.

Outside Area

Private garden area, large shared swimming pool, terrace and outside parking spaces at each property.

Utilities

Electric and water connected, points for telephone in living area and all bedrooms.

Prices and Finance

100% Finance Option

Usual Payment Process:

Reservation �6,000

20% paid at Contract Signature with in 30 days of Reservation

30% paid once the concrete structure is in place

50% paid upon completion.

(80% of the Purchase price of the property can be mortgaged. If there is to be a mortgage the bank will release the additional 30% prior to completion.)

100% Finance Option:

Reservation �6,000 (Subject to Mortgage approval 100% refundable.)

On mortgage approval the �6,000 is used to pay legal fees, Notary Fees, Taxes etc., as the Taxes exceed �6,000 the balance can be included in the Mortgage.

Purchase Costs Of 2 Bedroom Appartment:

Property Valued at �126,500 with a 19% tax Liability

Reservation �6,000

Purchase Price: �126,500

Estimated VPR 70% * � 16,825

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Final Price �143,325

Legal & Transfer Fees ** � 2,000

Total Purchase Cost �145,325

Total Mortgage (Less Reservation) �139,325

Total Monthly Mortgage Repayment �670

(First Two Years)

�481 per �100,000 borrowed over 30 Years.

(First Two Years After two years �600 per �100,000)

* Taxes - Tax is only paid on the Notary s Calculated Value, this is usualy around 50-55% of the Commercial Value Paid For this Estimate 70% has been used. Please Refer to Our Buying Property in Crete Guide.

** This should be the maximum Costs Incurred c. �2,000

The tourism industry in Crete is very strong, with Greece being amongst the top 10 worldwide tourist destinations year on year. Crete collects the largest amount of tourists from the islands, with daily chartered and scheduled flights from Europe. As with most resort destinations, villa and appartment rentals play a major part in accommodation. However, as the development and holiday home market is still in its infancy, availability for villa rentals is limited. A quick check on s such as holidaylettings shows that there are a total of just over 100 rental properties available over all of Crete. The availabilities for these properties is limited, as they all have numerous weeks booked out months in advance pare this to a similar island like Cyprus. The same shows over 1000 properties. And these are islands with similar sizes, population, and tourism figures.

Please contact us as soon as possible to avoid disappointment

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