Investing in PortugalTwo and three-bedroom apartments in The Residences at Victoria Clube de Golfe in Vilamoura on the Algarve, Portugal, are being offered for sale off plans from €425,000 and €495,000.
A total of 145 apartments spread over 10 four-storey blocks are available, on Vilamoura's most recently built golf course. The Residences is being developed by Constantino Jordan, son of André Jordan, who developed the Quinta do Lago resort.
They will be sold this Friday and Saturday in the Westbury Hotel, Dublin 2, through agent Hamilton Osborne King's international department. Two-bedroom apartments will range in size from 112-121sq m (1,200-1,300sq ft) and three-beds are 149sq m (1,600sq ft).
They will have large living areas and terraces or balconies, with views of the golf course and/or the garden. They will come with underground parking and lifts to all apartments.
Owners (and their guests) will have reserved tee times on the Arnold Palmer-designed golf course, and 50 per cent reductions on the €150-per-round green fees (as well as reductions at Vilamoura's four other golf courses). A rental service will be offered to owners. Annual maintenance fees will be €4,200 for two-beds and around €5,050 for three-beds. Work will start early next year on the apartments, due to be ready for occupation by the end of 2008/searly 2009. The initial payment is a 10 per cent deposit.
