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Key selling points
- Monthly income fixed at 6% for 3 years. Index linked thereafter.
- All income net except Spanish IBI Tax and personal income tax.
- Bank Guarantees.
Murcia University Student Apartments are located close to the main campus of Murcia University adjacent to current halls of residence.
The apartments are designed for student occupancy only and are not available for personal use.
This project is primarily for property investment purposes only and carries a 6% index linked rental guarantee paid monthly for a minimum period of 10 years with options to roll on for further 10 year periods.
The developer is a well respected professional company with experience in this type of product and currently has a similar project in Alicante University which has been completed to date and is now fully operational. The company has also released two other projects of the same type in Malaga and Granada provinces.
In most cases the monthly rental return is sufficient to pay a mortgage of up to 50% of the property purchase price and the rental income is paid net of all costs except the annual IBI tax on the property which is a negligible amount. One feature of this type of property investment which makes it unique to normal investments in the Spanish market is the return during the first 2/3 years of the IVA - Spanish VAT. All of the apartments are fully furnished and equipped for student use as well as the development having ample and well equipped communal areas & facilities for students.
This product represents an ideal medium to long term low risk investment in the Spanish Property Market especially as it is situated in the fast growing region of Murcia - Costa Calida which in 2006 - 2007 was showing an average property price rise of 9.4%, making Murcia the third highest region for property price increases in mainland Spain for the same period.
Murcia University Student Apartments ULYSS consists of 4 blocks or phases on five floors with two main types of apartment available (Type 1 14.2 m2 - Type 2 20.9 m2). Sales on this development as very fast moving and at present we have 2 phases available for sale with further phases to be released in the near future.
Freehold property which is fully managed by an experienced professional compay and apartments are delivered furnished and equipped for student usage.
On-site facilities include a reception, 24 hour security, 90 m swimming pool, gymnasium, cafeteria, computer room, library, study room, television lounge, parking and games room.
The monthly income is sufficient to cover a mortgage of up to 50% of the purchase price over 10 to 11 years period.
A full IVA refund is available after the second year of the property rental contract which is transferible and initially for a minimum of 10 years with a roll on option.
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