7 Best Invest

Introduction

For Sale - Five Luxury Apartments Puerto de Andratx, Majorca

Only 5 Large Apartments from €800,000 to €2,100,000
with Stunning Location and Views of the Bay

€7500 Reservation & Balance of 30% Deposit Required to Exchange Then Nothing More to Pay Until Completion

The Area Should be Visited to Appreciate its Stunning Landscape

(All apartments have views over the bay and covered secure parking)

For more information on this development please fill out the enquiry form below. Alternatively call us on Free phone 0800 085 4125. (Outside UK: Tel: 44 151 237 2783).

The 'Tailormade Investment Village' in Puerto de Andratx is of be-spoke design set into the rock face over 3 levels. The elevated position has the advantage of breathtaking views over the coastline and valley.

Construction is already well advanced; the main structure is in place and on schedule to complete March 2009. The property is flanked by spectacular luxury villas and infinity pools are dotted around the hillside providing a fitting backdrop.

The 4 apartments are spacious and luxurious with 88 m² of living space and large 17 m² terraces. They share a picturesque communal swimming situated to front with elevated views over the bay. The Penthouse is over 130 m² with two terraces totaling an expansive 93 m² a private pool of 26 m² completes this stunning penthouse. All five apartments are finished to a very high specification including marble flooring.

The external facade is finished with a mix of local stone at the ground floor level with a rendered finish to other levels. The central facade is detailed with cut stone around the window apertures.

The entrance from the road is secured via electric pedestrian gate leading up steps dressed in marble, boarded with plants and lighting set into the stone walls.

Only 5 Large Apartments from €800,000 to €2,100,000

For more information on this development please fill out the enquiry form below. Alternatively call us on Free phone 0800 085 4125. (Outside UK: Tel: 44 151 237 2783).

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Investment

7 Best Invest Says

"Great location, stunning town, on a beautiful and accessible island, high quality luxurious finish. What more can we ask for a "Tailormade Investment Village" - all our seven criteria are easily met (see our Web site and video for more information).

Puerto de Andratx benefits from its own micro economic property market due to the exclusive and limited nature of luxury property. The penthouse has the benefit of a private pool & terraces set into the natural hill side. This feature is unbridled in design and affords breathtaking views with privacy.

We recommend these apartments are held for at least 5 years after completion."

Return on Investment Table

Rule of 72

• The "Rule of 72" is a rule of thumb that can help investors compute when their money will double at a given compound interest rate.
• It is called the rule of 72 because at 10% compound interest, money will double every 7.2 years, and at 7.2% money will double every 10 years.
• To find the number of years required to double your money at a given compound interest rate, you just divide the interest rate into 72.
• For example, if you want to know how long it will take to double your money at eight percent compound interest, divide 8 into 72 which gives 9 – hence at 8% compound interest money will double in 9 years.
• You can also run it backwards: if you want to double your money in six years, just divide 6 into 72 to find that it will require a compound interest rate of about 12%.
• The ready-reckoner below gives the number of years money will double at a given compound interest rate using the rule of 72.

Why is this an outstanding investment opportunity?

The location of these apartments on a hillside with unobstructed views of the bay and blue Mediterranean waters makes this a sought after property. The apartments are an ideal candidate for capital growth and rental demand.

Key Points:

• Breathtaking location with spectacular views of the sea and the hilly countryside.
• Limited supply of quality apartments being constructed due to physical constraints and restrictive planning laws.
• Below market value based on comparables, we buy wholesale.
• Puerto de Andratx is a hideaway for the sophisticated and wealthy who choose not to display all to the world. This makes it an exclusive town to own a property, with a micro economic climate.
• We expect very good capital growth over the next 5 years.
• Perfect location for rentals and re-sales.
• Good links to European airports.
• The building is set amongst some of the most prestigious property in the area and is one of the few remaining developments to hold a building licence for an individual low occupancy apartment development.
• Demand for property in Mallorca continued unabated throughout 2007, and UK buyers were at the top of the list for overseas buyers. 54,000 EU residents (of which 19,623 are British) now live in Mallorca permanently, together with an estimated 60,000 second home owners from UK.
• The top end of the market continues to be very strong with the best being snapped up before even making photograph stage.
• "Tailormade Investment Village" in Puerto de Andratx is of be-spoke design set into the rock face over 3 levels. The elevated position has the advantage of breathtaking views over the coastline and valley.
• Construction is already well advanced, the main structure is in place and on schedule to complete March 2009. The property is flanked by spectacular luxury villas and infinity pools are dotted around the hillside providing a fitting backdrop.
• The 4 apartments are spacious and luxurious with 88 m² of living space and large 17 m² terraces. They share a picturesque communal swimming situated to front with elevated views over the bay. The Penthouse is over 130 m² with two terraces totaling an expansive 93 m² & a private pool of 26 m² completes this stunning penthouse. All five apartments are finished to a very high specification including marble flooring.
• The external facade is finished with a mix of local stone at the ground floor level with a rendered finish to other levels. The central facade is detailed with cut stone around the window apertures.
• The entrance from the road is secured via electric pedestrian gate leading up steps dressed in marble, boarded with plants and lighting set into the stone walls.

For more information on this development please fill out the enquiry form below. Alternatively call us on Free phone 0800 085 4125. (Outside UK: Tel: 44 151 237 2783).

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Features

Development

7 Best Invest are offering 5 luxury apartments all with spectacular views of the bay adjacent to Puerto de Andratx. Available are four 2 bedroom apartments spread over the first and second floors, and one superb 3 bedroom penthouse. When complete it will be one of the most sought after apartments in Puerto de Andratx. The development is situated on a hillside on an exclusive yet quiet street. Apartment sizes range from 88 to 131 m² living. The development is scheduled to be completed by March 2009.

Specification

The visual aspect of the facade is a blend of Mediterranean style with the benefit of modern amenity living. The property benefits from two swimming pools, one of which is for the private use of the penthouse apartment.

The pool and terraced areas are elevated for the benefit of privacy. The facade offers a traditional blend of natural stone and soft cream render. Natural marble floor finishes on the terraced areas to compliment the design.

The building has the advantage of secure off road parking with one space allocated to each apartment. The parking area has an automated entrance gate and roller shutter. Security and privacy have been implemented within the design incorporating movement sensors for lighting in the common areas. The parking area is isolated by a glass sliding door which leads to both lift access and staircase to the apartments.

All apartments will be completed to the highest finishes including: marble floor tiles in a soft cream with skirting tiles to match, under floor electric heating, warm and cool air-conditioning ducted to all living areas, electric entry system for communal doors and garage entry, individual alarm system, satellite television system; telephone point; fully designed and fitted kitchens to include electric oven, hob, microwave and fridge/freezer; bathrooms are designed for ease of Mediterranean living incorporated marble wall tiles with wet floor shower areas behind a glass screen. Bedrooms will be fitted with built in wardrobes, all internal doors are of solid wood, painted to give a light and airy feel to each room.

Location

Puerto de Andratx is considered as one of the most beautiful and sophisticated ports in the Mediterranean. The Port with its exclusive harbour, has specialty restaurants, cosy bars and exquisite boutique. The apartments are located on a superb hillside location with stunning views. The main marina-fronted town centre is a 5 minute drive, with Palma a 35 minute drive on the autopista modern expressway.

Getting there

Palma de Mallorca International airport is served by most major European airlines flying from many major cities. There are also plenty of budget airline flights from Stanstead, Luton, Manchester and other UK airports.

For more information on this development please fill out the enquiry form below. Alternatively call us on Free phone 0800 085 4125. (Outside UK: Tel: 44 151 237 2783).

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Finance

Price List and Apartment Types

Currency Converter Below

Mallorca Price List and Apartment Types

Unit	Level	Type	Living Area m2	Terrace m2	Private Pool m2	Price Euro €
1	3rd	Penthouse with parking and private pool and terraces	131	93	22.16	€2,100,000
2	2nd	2 bed apartment with parking,  terrace and communal pool	88	17	-	€850,000
3	2nd	2 bed apartment with parking,  terrace and communal pool	88	17	-	€850,000
4	1st	2 bed apartment with parking,  terrace and communal pool	88	17	-	€800,000
5	1st	2 bed apartment with parking,  terrace and communal pool	88	17	-	€800,000

Currency Converter

Enter the amount in the first box below, then select the currency to convert from then the currency to convert to then click the convert button.

 

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Mortgages

Euro mortgages are available in Puerto De Andratx and are an option we recommend when purchasing in our "Tailormade Investment Village".

Our Client Support Unit and Sotheby's Associates in Andratx can assist with this. We have sourced an excellent mortgage broker. They are able to obtain a decision in principle for you prior to you exchanging contracts. Typical loan to value is 70%.

For more information on this development please fill out the enquiry form below. Alternatively call us on Free phone 0800 085 4125. (Outside UK: Tel: 44 151 237 2783).

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How Do I Buy ?

Introduction

We are aware that purchasing property can often be a daunting and painstaking experience. At 7 Best invest we operate a client relations team that can give you one-to-one personalised service that ensures that your purchasing experience is an enjoyable one. We can give you as much or as little assistance as you require. We operate a hassle free policy which allows you to feel at ease and take your time and digest all the information in your own time before making any decisions.

We know our products are some of the best investments in the world. We are simply here to advise you which one is best suited to your needs.

Step 1: Inquire for more information on our products

Our client relations team will respond to your enquiry by sending you all the relevant documentation you have requested, including brochures, price listings and development information.

Step 2: Request Viewing

Our Client relation team will take care of all of your travel and accommodation needs for you. We can arrange your flights for you and 7 Best Invest will pay for your accommodation for up to 3 days in one of the local 4 star hotels.

Our local operations director will personally meet you from the airport and take you to your hotel. Once you have settled then our operations director will take you to the development site for your viewing where you will be given as much time as you need to look over our properties and the local areas.

We can at this time arrange for meetings with our lettings agent and any of the local banks or solicitors that will help you with your purchase.

NB: We require a 5000 Euro deposit to arrange your viewing trip, which is fully refundable.

Step 3: Agree to Purchase

At this point our client relations team will send you the relevant forms for your signature and a 30% deposit will be put down to ensure the sale. Once the contracts have exchanged within 28 days we can then refund any viewing trip cost that you have incurred, for example flight and excursion costs.

Step 4: Completion

Our local operations director will meet you in person on location for the completion. At this stage you will meet with the notary/Solicitor and the local bank for sign off for the mortgage. All of the final payments will be made, for example notary fees, IVA costs and the balance for the property. Once all the commercials have been agreed, the sale will be completed and the keys will be yours. Once again Our operations director will be with you personally to ensure that everything goes as smooth as possible.

For more information on this development please fill out the enquiry form below. Alternatively call us on Free phone 0800 085 4125. (Outside UK: Tel: 44 151 237 2783).

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About The Area

About Puerto Andratx and Majorca (Mallorca)

Puerto de Andratx

The resort of Port Andratx, which you may also see written as Puerto Andraitx, is part of the municipal district of Andratx, which covers an area of some 82km² in the extreme south west corner of Majorca. Geographically the area is approximately 20 miles or 32km west of the capital Palma and the Son Sant Joan International airport, and encompasses the towns of S'Arracó, Sant Elm and the resort of Camp de Mar.

Puerto Andratx has so far remained almost completely "undiscovered" by many of the major tour operators, and as far as we are aware doesn't as yet feature as a recognised destination in any of their summer or winter sun brochures. As a result most visitors here will be independent travelers who either own holiday homes in the area, or prefer to make their own travel and accommodation arrangements to the resort.

Puerto de Andratx is considered as one of the most beautiful and sophisticated ports in the Mediterranean. The Port with its exclusive harbour, has specialty restaurants, cosy bars and exquisite boutique. With the typical mallorquin village of Andratx to visit and the fine sandy beach of Saint Elm, a typical Majorcan summer get-away, with plenty of good sea food restaurants by the sea, not more than 12 minutes away, offers plenty of activities and exploring opportunities on your doorstep. In just the same amount of time, you can reach the famous golf club and sandy beach at Camp de Mar. Palma is about 35 minutes away.

The original residential town of Andratx was built slightly inland from the port to act as a defence against pirate attacks. Evidence of this can still be seen today around the upper part of the town with its narrow cobbled streets and the almost fortress-like church of Santa Maria. The view back over the old town over towards Puerto Andratx makes the uphill walk well worthwhile, and if you remember to bring your camera along, you should get some very good photographs. During the 13th Century, Andratx was an important centre of the Majorcan culture with the Bishop of Barcelona and King Jaime I both having homes here.

Almost 8 centuries later, Andratx is still a very desirable place to live, and many of the impressive villas in and around the resort are either Spanish or German owned holiday homes. If you are very lucky, you may even catch sight of either Claudia Schiffer, Tom Cruise or Michael Schumacher who all own property in the area. Andratx is certainly no stranger to the rich and famous. Over the years the town has also had a reputation for attracting celebrities of the era, one of which being the wife of Rudolf Valentino who lived in the area during the 1930's.

The latest census carried out on Mallorca shows that that district of Andratx has a resident population of around 8,000 people, however, statistics from the Govern de les Illes Baleares Conselleria de Turisme also shows that during the summer months this figure can increase to around 24,000 illustrating the importance of the area to the islands tourist industry.

Many years ago now Puerto Andratx was the site of a small traditional Mallorcan fishing harbour, and it is around here where most of the tourist development has taken place over the last few years. Although commercial fishing is still carried out here, albeit on a very small scale, without a doubt the major feature of the town is the large new marina with provision for over 300 moorings. However, despite the recent residential development of the rugged headlands that are a feature of the coastline in the south west of Majorca, Puerto Andratx has still somehow managed to retain an authentic Majorcan feel.

Majorca / Mallorca

Majorca (Spanish and Catalan: Mallorca) is the largest island of Spain. It is located in the Mediterranean Sea and part of the Balearic Islands archipelago (Catalan: Illes Balears, Spanish: Islas Baleares). Like the other Balearic Islands, Ibiza (Catalan: Eivissa), Formentera, and Minorca (Catalan/Spanish: Menorca), the island is a popular tourist destination. In Germany and the United Kingdom, where package tourism to the island started in May 1952, Majorca has remained a popular destination. Since the 1960s, it has also become a synonym for mass tourism. The name derives from Latin insula maior, "larger island"; later Maiorica.

The capital of the island, Palma, is also the capital of the autonomous community of the Balearic Islands. The Cabrera archipelago is administratively grouped with Majorca (in the municipality of Palma). The anthem of Majorca is La Balanguera.

Majorca has two mountainous regions each about 70 km in length. These occupy the north-western (Serra de Tramuntana or Tramuntana range) and eastern thirds of the island. The highest peak on Majorca is Puig Major (1,445 m) in the Serra de Tramuntana. As this is a military zone, the neighbouring peak at Puig de Massanella is considered the highest accessible peak (1,364 m). The northeast coast comprises two sweeping bays: the Badia de Pollença and the larger Badia d'Alcúdia. The northern coast is generally rugged and has many cliffs. The central zone extending from Palma is generally flat fertile plain known as Es Pla.

The climate is Mediterranean, with markedly higher precipitation in the Serra de Tramuntana. Summers are hot in the plains and winters mild to cool, getting colder in the Tramuntana range; in this part of the island brief episodes of snow during the winter are not unusual.

The island is surrounded by two uninhabited small islands: Cabrera (southeast of Palma) and Dragonera (west of Palma).

In 2005, there were over 2,400 restaurants on the island of Mallorca according to the Mallorcan Tourist Board. They ranged from small bars to full scale restaurants. Despite Mallorca's location in the Mediterranean, seafood is often imported. Olives and almonds are typical of the Mallorcan diet. The island now has over 4 million almond and olive trees. Among the food items that can be truly stated as being Mallorquin are sobrassada, arros brut, saffron rice cooked with chicken, pork and vegetables and, for the sweet lover, ensaïmada.

In addition, the diversity of the population is reflected by the increasing variety of restaurants.

Helpful Links

• Majorca Travel Guide

For more information on this development please fill out the enquiry form below. Alternatively call us on Free phone 0800 085 4125. (Outside UK: Tel: 44 151 237 2783).

Google Map of the area - Puerto Andratx, Mallorca / Majorca:

Use the +/- symbols on map to zoom in/out - Select 'satellite' to view real images - Select 'hybrid' to see satellite view overlaid with map view. Hold left mouse button down on map and drag map in any direction.

For more information on this development please fill out the enquiry form below. Alternatively call us on Free phone 0800 085 4125. (Outside UK: Tel: 44 151 237 2783).

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Frequently Asked Questions

Q: Freehold ? how does this work in Spain?

A: All apartments are freehold. This means the buyer owns their physical apartment and share of land the building is built upon. All ground title will be proportionality owned by the purchasers in the case of this development.

Q: What is the target completion date of the whole project?

A: March 2009.

Q: Are there swimming pools?

A: There are two swimming pools with stunning views. The communal swimming pool will be finished in blue mosaic tiles, finished flush with the terraced area. A lighting scheme has been designed to compliment these areas through the early hours of darkness as the sun falls. The penthouse has the benefit of a private rooftop swimming pool and terraced area.

Q: What Security is planned for the project?

A: The entrance from the road is secured via electric pedestrian gate leading up steps. Parking area has an automated entrance gate and roller shutter. Security and privacy have been implemented within the design incorporating movement sensors for lighting in the common areas. The parking area is isolated by a glass sliding door which leads to both lift access and staircase to the apartments. Individual alarm systems for each apartment.

Q: What are the likely property /local /council taxes the owner would incur?

A: compared to the UK, annual property taxes are lower; like the UK the figure is geared to the size of the property. Budget a gross amount of approx. €800 to €1200 per annum should be comfortable.

Q: What are the proposed service charges?

A: These will be set after completion. No firm prices have been received, however we estimate the total costs to be circa €150/month for the apartments and €200/month for the penthouse, this would cover gardening, pool cleaning and general maintenance.

Q: Where Exactly is the Development?

A: On Solar 107, Cala Moragues, Puerto de Andratx, south west corner of Mallorca and 35 minutes drive from the capital Palma. It is about 45 minutes from the international airport. It is set in an elevated position and has the advantage of breathtaking views over the coastline and valley.

Q: What is the flight time from the UK? What is the Flight time to Barcelona?

A: London is just over 2 hours by air and Barcelona is around 30 minutes.

Q: Who is the builder?

A: The development team have extensive experience of developing in Mallorca, and have appointed a contractor, a reputable experienced and professional firm. The Developers own team of professionals will oversee the work, and as always 7 Best Invest track the progress of all our developments.

Q: What is the method of construction?

A: The main structure is a concrete frame with insulated cavity walls to exterior. All internal walls are formed using block work and finishing plaster. The external facade is finished with a mix of local stone at the ground floor level with a rendered finish to other levels.

The central facade is detailed with cut stone around the window apertures. All construction detail is carried out to the highest standard and is inspected throughout the build process by independent surveyors and structural architects.

Q: Can I visit the site during construction?

A: Yes, site visits can be arranged so that you can be satisfied as to the construction of the building.

Q: Is there security at the site and how much will it cost?

A: The entrance from the road is secured via electric pedestrian gate. Individual alarm systems are installed. From the parking area, there will be an automated entrance gate and roller shutter. Security and privacy have been implemented within the design incorporating movement sensors for lighting in the common areas. The parking area is isolated by a glass sliding door which leads to both lift access and staircase to the apartments. Your service charge covers this.

Q: Who will maintain the building and grounds?

A: The maintenance managing agent will be responsible for ensuring the building and gardens are thoroughly maintained.

Q: Can I purchase the property with a mortgage?

A: Yes our Client Support Unit and Associates in Andratx can assist with this. Typical loan to value is 70%.

Q: Can you recommend a lawyer on the island and what do they charge?

A: Yes again our Client Support Unit and Associates in Andratx can assist with this. You should budget for 7% of the purchase price for IVA (property tax) and 3% to 4% for all legal and notary costs.

Q: What about Income Tax and Capital Gains Tax

A:.For income tax the flat rate is 25% of the gross rental income.  Beware the Spanish tax authorities, Hacienda, are determined to stop evasion. From 1/1/07 Capital Gains Tax is applied at 18% for  E.U. non-residents and the current 5% retention is reduced to 3%.

 For property owned by non EU individuals or entities, 35% still applies.  For resident property owners of any nationality, CGT will go up from 15% to 18%, and the higher rate of 35% for properties sold within 12 months of purchase disappears.

Q: What is included in the apartment Interiors?

 A: All apartments will be completed to the highest finishes with fitments to include:

• Marble floor tiles in a soft cream with skirting tiles to match. Under floor electric heating.
• Warm and cool air-conditioning ducted to all living areas.
• 200 litre hot water storage units for individual apartments.
• Electric entry system for communal doors and garage entry.
• Individual alarm system. Satellite television system.
• Telephone point. Intercom system for entry doors.
• Fully designed and fitted kitchens to include electric oven, hob, microwave and fridge/freezer.
• Bathrooms are designed for ease of Mediterranean living incorporated marble wall tiles with wet floor shower areas behind a glass screen.

Q: How do I purchase?

A: A reservation deposit of €7500 is required to secure the apartments of your choice. It is refundable for 14 days. As a 7 Best Invest member we will pay for one night's accommodation and our partners in Mallorca, Sotheby's will arrange transfers and show you around the property. You have 5 days after the viewing trip to let us know if you wish to proceed. If not no problem your deposit is refunded, (we will make small deduction for costs incurred).

If you wish to proceed our Client Support Unit will ensure you have all the documents and information to exchange contracts within 28 days whereupon the balance of the 30% deposit is due. We do insist that before you reserve you ensure that you are able to meet this 28 days deadline for paying the 30% deposit. The final balance is due in March 2009 and you may choose to finance this with a mortgage. Our Client Support Unit and partners, Sotheby's will assist with this. Please call 0800 085 4125 to arrange a viewing trip.

For more information on this development please fill out the enquiry form below. Alternatively call us on Free phone 0800 085 4125. (Outside UK: Tel: 44 151 237 2783).

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Mallorca Brochure

Document is in Adobe Reader - PDF format. If you don't have this on your computer you can download it here.

• Luxury Villa Mallorca - Brochure

For more information on this development please fill out the enquiry form below. Alternatively call us on Free phone 0800 085 4125. (Outside UK: Tel: 44 151 237 2783).

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