Andalucian Homes is launching an innovative new way to own a sumptuous holiday home as a virtually risk-free investment, for a fraction of the cost, on the Costa del Sol.
‘Spanish Quarters’ is quarter share freehold ownership, and combines the principles of fractional ownership, now widespread in the USA and spreading quickly throughout Europe, with the option of a Guaranteed Income to offset the cost of your purchase. This unique new concept offers the opportunity to own a quarter share in a superb holiday home with a virtually risk-free investment in extremely high quality property in Southern Spain.
Clients can purchase one or more quarter shares in a selection of outstanding developments, which entitles them to 13 weeks annual usage per share, and has the choice of a Guaranteed Income or Unlimited Usage. A Guaranteed Income has the option of three weeks personal use, or no usage for pure investors, and provides a fixed annual yield. The Unlimited Usage option entitles owners to use all 13 weeks, and Andalucian Homes offers to rent the property out on any available weeks if desired. It is also possible to switch from one option to another every two years.
Unlike other shared ownership schemes, the entry cost is minimal, from just £3,500. The balance of your purchase can be covered by a mortgage and you have the choice of financing this either through equity release on your UK home, or if you prefer, on the property you are buying a quarter share in. Alternatively, you may choose to pay cash.
Running costs and management fees, which can be a concern when unknown, are capped at £95 per person for the first four years, to make ownership easily affordable.
Spanish Quarters properties are all extremely luxurious, either on or near golf courses, and close to the beach and local amenities. All are air-conditioned, with high quality fitted kitchens, outstanding build specifications, spacious terraces, and many have sea and golf views. On-site facilities include large communal pools, scenic landscaped gardens, and some homes even have indoor gym and spa facilities.
Bryn Thompson, Andalucian Homes’ Managing Director, commented ‘Spanish Quarters unlocks the key to buying a holiday home abroad for many more people. By offering very low deposits, guaranteed income and 100% finance options, we are making it much easier for clients to own a sumptuous home in Spain.
The new concept is designed to appeal to those who may only want to use their luxury home a few times a year, and don’t want to have to think about renting or managing it themselves. It should also suit investors who may have been attracted to ‘emerging markets’ due to low entry costs, but who have concerns about the legal system, rental potential and re-saleability in those countries.
Spanish Quarters takes the risk out of property investment abroad. By providing luxurious freehold home ownership at an affordable price, underpinned by the option of a Guaranteed Income to offset mortgage costs, we feel we are giving our clients the best of both worlds.’
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About Andalucian Homes
Andalucian Homes is Southern Spain’s leading independent home finder, covering off-plan investments and resale properties in the Costa del Sol, Costa Blanca, Granada, Costa Tropical, Almeria, Murcia, and Lakes and Mountains regions.
Launched in January 2003, Andalucian Homes has sold over 250 properties to customers across the UK. The company’s success is based on its commitment to providing impartial, professional advice on finding, buying and owning a property in Spain.
For investors, Andalucian Homes offers Spanish Quarters, a quarter share ownership scheme enabling the purchase of a home in Spain for the fraction of the cost, as well as a guaranteed rental scheme, with up to 10 years guaranteed rental income.
For further information visit www.andalucian-
