Full Description

This front line beach development of single story bungalows and apartments will be built in the municipality of Vila do Maio on the island of Maio on a plot of land covering approx. 12,000 sq m. directly overlooking the sea at Morro beach. Areas within the “Villa Maris Village” will be divided into parts designated for the exclusive use of each property and those areas for common use. The common areas will be landscaped and have communal paths. Morro is a totally unexploited beach which is located 5km from the main town of Vila do Maio and 3km from the airport. Vila do Maio is located right next to the sea with an extensive golden sand beach. The local architecture shows marks of the colonial era and of the British presence in the island.

FINANCE:

Bungalow Type ‘A' 1,2,3,4,5,6,7 ........................€153,010

Bungalow Type ‘B' 8,9,10,11 .............................€108,070

Bungalow Type 'B' 12,13,14,15 .........................€99,510

Bungalow Type 'B' 16,17,18,19,20,21,22,23,24 ...€84,530

Apartment 25,26,27,28 37,38,39,40 ...................€61,258

Apartment 29,30,31,32 33,34,35,36 .................. € 59,118

Studio 41,42,43,44,45,56,57,58,59,60..............€ 44,940

Studio 46,47,48,49,50,51,52,53,54,55 ..............€40,660

PAYMENT PROFILE €3000 (£2000) reservation fee 40% on Contract 60% on Completion (est. Nov 2007)

MAINTENANCE: Type ‘A’ €80/mth Type ‘B’ €60/mth Apt €40/mth Studio €40/mth

RENTALS: There is a rental company on Maio who will offer a minimum rental income of 5% net per year of the house value.