2+ bedroom apartment, located on the 1st level of a character building in Chiado , next to a new 5-star hotel and just a few steps from the São Pedro Alcântara Belvedere in Principe Real, where you can get the funicular directly to Avenida da Liberdade. This new hotel will add great value to the already AAA-rate location.
This apartment requires complete renovation, but the advantage with this property is that there is a “developer“ involved, so it can be rolled out as a turn-key solution that makes it eligible for the Golden Visa 350K program. The renovation works (including licensing) should cost around 50.000 € depending on the finishings and layout. However, as per our conversation we can package the renovation project to include furnishings, so that the minimum threshold is reached for the GV program.
In terms of location on rental potential this is a “no-brainer”. If you consider just 140,00 € as the average daily rate and a conservative occupancy rate of 85,00%, the gross rental yield is 12,41%.
Considering 30,00% for management and rental costs, you would net 8,69% per annum, which means that you would claw back your investment in just over 10 years!
Unquestionably a “cash-cow” investment which would also lock in at least 100.000 € of equity, as this property can be resold on completion for at least 450.000 €
- Turn key option