€24,115 Apartment / Flat Chayofa

€24,115

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Apartment / Flat 3 bedrooms
For Sale
Cabo Blanco
Spain

Joint Freehold � an investment opportunity not to be missed! Investment in property in Tenerife is on the upturn and with projected capital growth of around 10% per annum, there has never been a better time to invest in bricks and mortar on an island which has a wonderful year-round climate and which is currently undergoing a re-birth with investment into the high-end luxury accommodation market.
A new concept in both property investment and holidays is now available at Chayofa, in the south of Tenerife - the island of eternal spring.
Joint Freehold � the latest concept in property investment in Tenerife is now available and is the new buzz-word in affordable property tment in property in Tenerife is on the upturn and with projected capital growth of around 10% per annum, there has never been a better time to invest in bricks and mortar on an island which has a wonderful year-round climate and which is currently undergoing a re-birth with investment into the high-end luxury accommodation market.
A new concept in both property investment and holidays is shortly to be launched at Chayofa Country Club, which is located, just a short drive away from the bustling town of Los Cristianos, in the South of Tenerife. The project is Joint Freehold. What is this?
Joint Freehold at Chayofa Country Club will be available in studios, one bedroom and two bedroom apartments and 3 bedroom villas with private pools. The newly refurbished apartments and villas will be furnished to a very luxurious standard which will provide every possible amenity for the owner or the guests of the owner. These facilities will include air-conditioning and Wi-Fi access and the staff at Chayofa will be available to cater for your every need. On-site at Chayofa Country Club is a swimming pool, restaurant, bar and concierge service, thus providing a home from home of which you can be proud.
Each apartment or Villa will be divided into 13 shares of 4 weeks. A prospective owner can purchase as many shares in a unit or units as they wish.
Usage of the 4 purchased weeks per share will be on a rotational basis that will change annually and a rotational calendar will be provided to each owner to clarify this.
E.g. In 2012 an owner may enjoy the use of the first two weeks of January and the first two weeks of July which changes in 2013 to the second two weeks of January and the second two weeks of July, and so on. The rotation continues onwards until the whole year has been allocated whereby it will start over again.
The individual shareholders of each apartment or villa, numbering as many as 13, may privately arrange to vary their usage times through their `Comunidad de Bienes` (community of owners) without reference to any outside party. Due to the many advantages of rental income it is envisaged that most purchasers will own in excess of 8 weeks, which, as an example, would provide 4 two holidays of 4 weeks duration each in total.
Each Comunidad de Bienes will be responsible for the charges levied on the apartment and each shareholder will be pay their annual quota of the cost depending on their shareholding to the Club Administrator through their individual Comunidad account.
Costs for electricity, water, and cleaning the apartment and any other costs incurred locally will be paid to the Club Administrator in advance, and each set of accounts will be totally transparent i.e. each owner will have access to these accounts. At the end of Year One, any surplus charged for the above will be given as a discount to each Community of Owners relating to a particular accommodation unit.
On completion of the purchase the individual shareholder will receive an Escritura de Compraventa (Title Deed) for the share or shares he owns in the apartment or villa exactly as if buying the total freehold. Detailed documentation is available at Chayofa Country Club for the perusal of each individual prospective purchaser and this documentation also includes information regarding the conditions of usage of each unit.
At the expiration of ten years from the formation of the Comunidad de Bienes, should the majority of the shareholders wish to realise the gain on their asset, the apartment would be sold on the open market and the proceeds divided. Any individual owner wishing to sell prior to the expiration of 10 years will be able to do so. Added advantages within this new scheme is a Golf Programme which will allow golfers to play rounds of golf at 15 euro per round. These significant savings will prove extremely cost effective and whilst not all Joint Freehold owners will actually play golf themselves, they will realize the large rental appeal to those who do, as the savings on green fees for players would be as much as 1200 euros per week, (4 people playing golf 5 times per week). The savings available to keen golfers will ensure the easy rental potential and thus rental returns, to the owner.
One week Inspection visits to Chayofa Country Club may be arranged for prospective purchasers, and on-site there is a team of investment and property advisors to answer any questions you may have and to explain how this new project is not only an investment in monetary terms, but also an opportunity to own a piece of Tenerife at a fraction of the outright purchase price.
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