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Key selling points
- An area with many future plans for extensive leisure facilities.
- Capital growth forecast for 2006 at 15%.
- Low deposit payment terms.
- Two new golf courses planned, one just 1 km away.
- Arrecife airport just 33km away.
- Thriving rental market.
As a result of marketing the Teguise Greens project in Costa Teguise we have been asked by many clients to find a development to offer in Playa Blanca. We have spent many hours looking at just about every project in the Playa Blanca area. As planning restrictions in Lanzarote are now very tight and rightly so, many of the developments when examined closely have planning issues and for various reasons we have been at a loss to find a suitable resort until now. We were introduced to this Playa Blanca development by the bank manager of Caja Canarias and after several meetings with the owner and bank manager we are now happy to promote this project as it fulfils our criteria and we are now confident to offer this to our clients. The site is in an elevated privileged position just behind the Marina with stunning views to the sea, Los Lobos Island and Fuerteventura in the distance.
Development description and location - Residencial Sol Platino is located on a prime plot of 12019m2 of land within easy walking distance of the new marina Puerto Rubicon. This development will include 4 three bedroom villas and 44 two bedroom villas, each villa having its own private swimming pool and garden. The reason we particularly liked this development is that is it located within easy walking distance to the new port of Playa Blanca where you will find many facilities and, as this is a new area, there are many plans for the future to increase on the leisure facilities. Also the planned golf course in Playa Blanca will be located to the rear of this development just 1km away.
Investment potential, our opinion - Why Lanzarote? In a European survey Lanzarote was judged to have been the best holiday property investment over the past 10 years in the whole of Europe. Being a small island, the amount of land able to be built upon is very limited (90% of all land in Lanzarote is protected and can not be built on). This short supply combined with a demand that is fuelled by the attributes mentioned below make the Island a great place for not only investing but also purchasing a home in the sun, whether it be for part-time or fulltime residence. A combination of a fabulous climate, proximity to all major European Airports, a modern infrastructure, EU membership, a buoyant tourist economy, an open banking system and a finite amount of land have provided the vehicle for great property returns over the last ten years. The Island has seen average annual capital appreciation of over 10% for the past ten years. The all year sunshine and hence extended tourist season has provided and excellent background for both rental returns and for those seeking to buy either a holiday home or permanent residence. Having full EU membership has encouraged many residents from other EU states to relocate to Lanzarote and make it their permanent home. Such moves have further increased the demand for property over recent years and created good fundamentals for future appreciation. To summarise, demand will continue to outstrip supply, the entry prices are amongst the lowest in Spain and the deposit / payment structure allows for maximum growth on invested capital.
Payment schedule
Reservation Fee 3000.00 Euros
Deposit on purchase contract 10% of purchase price plus 5% sales tax
A second payment of 10% of purchase price plus 5% sales tax due in January 07
The balance of 80% to be paid on completion. A pre arranged mortgage is available with low set up fees and low interest rates.
Anticipated rental income - We have spoken to a few property rental agencies and each have mentioned that there is a demand for rental villas in this area. The rate at the moment is around 650.00 to 950.00 euros per week.
Mortgage - The bank financing this project is Caja Canarias and the manager here is a very helpful and obliging person and will be happy to talk to clients with regards to mortgage requirements. Guarantees and indemnities - All bank guarantees will be in place.
Completion costs - When completed you will have to pay Notary fees and land registry fees which in most cases can be included in the mortgage. In addition you will have to pay legal fees and we have negotiated a special rate with a leading local Solicitor. Predicted project completion date - September 2007
Location report profile - From where ever you are in Playa Blanca the views are breathtaking. If you are looking out across the blue sea you have spectacular panoramic views of Fuerteventura and the tiny inhabited island of Lobos just in front of it. There is a ferry that runs several times a day so you can take a day trip, or longer, to Fuerteventura. Inland you have mountainous views of Red Mountain to the west and to the east the mountain range of Ajache Grande and Ajache Chico that lead down to natures beaches at Papagayo. This development is located on prime land being situated behind Puerto Rubicon which is a newly constructed marina that has been developed in a way to resemble a typical Canarian Village. Puerto Rubicon is also home to the 5 star premium class hotel the Gran Melia Volcan. This stunning marina provides more than 400 berths for expensive yachts and catamarans and is one of the most beautiful marinas in Spain. The facilities on offer at Puerto Rubicon includes sailing lessons, a trip on a luxury catamaran the Rubicat, Rubicon Diving to see some of the islands best dive spots, swimming in the freshwater pool surrounded by a large private sun deck, tennis, La Ermit Art Gallery, shopping, market on Wednesday and Saturday and not forgetting the bars and restaurants offering the very best local and international cuisine. Playa Blanca comes under the administrative municipality of Yaiza and Yaiza local government are responsible for the development of Playa Blanca. There are tight plans in place to control the rate of development in this area and the emphasis here remains on providing high quality facilities in this beautiful environment. In fact the town of Yaiza has been voted twice as Most Beautiful Village in the Whole of Spain!!
Airport Access - Arrecife airport is just a 30 minute drive away, 33 km distance.
Nearest beach - What is so spectacular about Playa Blanca is that its bay stretches a staggering 9 km from the old lighthouse at Pechiguera in the west of the bay to Papagayo in the east, which in turn is then made up of smaller bays that include various beautiful blue flag beaches. All of the beaches are within easy reach from this development and no more than a 5 or 10 minute car drive away. This is a natural area and no building is allowed here.
Golf courses available locally - Currently there is just one golf course on the island located in Costa Teguise. Two further golf courses have planning permission in Playa Blanca which will include 5 Star hotels and other leisure facilities. We were delighted to hear that one of these golf courses is to be located just 1 km from this development. Costa Teguise Golf Course is situated at the foot of the old volcano and is currently the only golf course on the island. The golf course at Costa Teguise is an extremely well established golf course constructed in 1978 by John Harris. It is a 72 par course and fairways range in length from 4938 metres to 6041 metres at their longest.
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