Convent Conversion & Bank Repossession

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Read about the real estate market in the Algarve, Lisbon and Portugal. As the leading estate agents on the Algarve and in Portugal we can help you find property for sale in Portugal and find a mortgage.

November 21, 2017

Miracles still happen and this beautiful, historic convent bank repossession may just be the answer to your sun loving prayers....Take a peak....

Been wishing, praying and working for what seems an eternity for sunshine to save your soul from gray and gloomy skies? If so, we may have just found the answer to your prayers...

This 15th Century Cistercian Convent is not only a very special property loaded with Portuguese history, but it's also a bank repossession, with up to 90% financing and interest rates as low as 1%.

Situated in East Algarve, the region's most unspoiled area, The Convento das Bernadas, overlooks the salt plains of Tavira and the Ria Formosa, a UN heritage protected zone. This remarkable property offers buyers a combination of modern design with historic charm, along with priceless peace and tranquility. The exterior facade has been renovated respecting the convent’s original design, while the interior provides an array of different and modern layouts. The beauty of this development is no unit is exactly alike providing buyers with the opportunity of having a truly unique property within the development.

Each apartment comes with a private parking space located securely within the walls of the development. There is a dedicated reception area which provides pedestrian access to the development and a centralised security system running throughout. Fitted with fibre optic cabling and installation of AC/heating these units are prepared for modern day living in the sun. A central, private courtyard provides owners with access to 2 saltwater swimming pools and plenty of sunbathing and lounging areas...heavenly!

Conveniently located only a short drive away from central Tavira, a historic fishing village, and ferry rides to some of the countries most unspoiled island beaches, Ilha do Farol, Isla Barreta... This area is also renowned the country over for its fresh food markets and wonderful seafood.

Convent repossession properties available include:

2 bedroom apartments, varying in sizes, from 210,000€ (IDH3345)

Financing:
With 10% deposit buyers can get up to 90% financing for up to 40 years and mortgage rates as low as 1%, depending on individual circumstances.

Mortgage Simulation: 2 Bedroom, 35 years
Purchase price: 210 00€
Deposit: 21 000€
Finance: 189 000€
Interest rate: 1 %
Term: 35 years
Monthly: 533.52€

Values above are approximate to reach a monthly property cost for sample purposes. Buying costs such as taxes, legal fees, etc., will apply and typically range from 6-8% of property value. Individual circumstances may also impact figures noted.

Rental Income Simulation: 2 Bedroom
Winter: 400€ p/week
Spring: 500€ p/week
Early summer: 850€ p/week
High summer: 1200€ p/week
Autumn: 850€ p/week

Rental figures may vary depending on number of guests, exact location, quality fixtures and fittings. Appropriate setup licenses, insurance, etc, required for legal rentals, will apply. Ideal Homes property management and rental services ensures owners retain 90% of rental income.

If a fabulous development in a wonderful location, at a reduced price isn't enough, you may faint in disbelief of what's being added to lighten your dark, weary soul and make you see the light.

Book your viewing trip until Friday November 24th:
2 for 1 viewing trip
No mortgage brokerage fee
Free key ready service
Airport transfer
No rentals management sign up fee
Welcome Pack

Finalise a property purchase until November 24th:
Luxury BBQ
1 week car hire (up to €250)
2 flights (up to €300)

See miracles do still happen, and if the one you've been waiting for is to live or retire overseas in a beautiful, sunny and peaceful destination, then this may be the one you've been waiting for. It won't happen unless you see it yourself, so we recommend you book a viewing trip so you can see it and believe it.

Tailored Viewing Trips
A Viewing Trip tailored to your needs. We introduce you to finance, tax, legal, property management and rental specialists. Our goal is to ensure your questions about buying in Portugal are answered, providing you with the transparency and confidence you need to make your real estate investment.

Competitive Mortgage Rates
Need financing for your real estate investment? A variety of competitive Portuguese Mortgages are available with interest rates as low as 1.75%. Contact us for a free consultation.

Property Management Services
Buying a holiday home or have one and wondering how to manage it while you are away? Worry not, from picking up your mail, to renovations through to full rentals management services we have you covered, learn more!