Lake Como – Italy

posted on 20 April 2010

Fantastic Investment Opportunity
Lake Como, Italy

Prestigious 1 and 2 bed luxury apartments from £137,000

A Great Opportunity to purchase in the first phase of just 20 luxury apartments in a development of 74 Huge potential for capital appreciation (over 50% expected in 5 years)

Significantly below market value – wholesale prices available to individual clients

All apartments have commanding views of Lake Como

5000 euros to reserve, plus only 25% deposit required to exchange

The area should be visited to appreciate its natural beauty Expected to be sold within next 60 days

Each apartment has a private balcony, garaged parking and communal swimming pool

Up to 80% LTV mortgages available now

Rental income of over €15,000 pa – Work is scheduled to complete March 2007

Typical Return On Investment

  • Purchase price – £137,000
  • Deposit & fees* – £55,000
  • 7.2% equity growth off-plan – £7,759
  • 7.2% equity growth year 1 – £10,574
  • 7.2% equity growth year 2 – £11,336
  • 7.2% equity growth year 3 – £12,152
  • 7.2% equity growth year 4 – £13,027
  • 7.2% equity growth year 5 – £13,965
  • Example Net Rental profit over 5 years** – £7,758
  • Return on investment = 142% – £78,675

*The €5000 reservation has been included in this figure. Taxes, notary fees, legal fees and mortgage cost are included at 13% of the purchase price

**Assumes €15,000 income, 25% management charges, mortgage at 4.2% over 30 years Capital & Interest repayment.

Benefits:

  • Incredible views of Lake Como
  • From 500 to over 900 sq ft living area
  • Private balcony or ground floor garden
  • Ground floor apartments have gardens from 500 to 2000 sq ft
  • Garaged Car Parking
  • Fitted kitchen with all white goods
  • Tiled flooring throughout

Varenna is in an excellent position and a very popular location for both investors and tourists. The town receives 48,000 to 50,000 requests for accommodation per annum, but there are only 250 beds per night in Varenna. This is naturally a very healthy situation for an investor, with little scope for further development of property. Expected rentals for one beds are €500 pw off-season, and €700 pw high season with expected annual income in excess of €15,000.

The location of these apartments on a hillside with unobstructed views are guaranteed for life as there is no possibility to build in front of them. The development is also very close to the centre of Varenna with access to its restaurants, harbour and regular ferries to Bellagio and Menaggio. This makes it an ideal candidate for capital growth and rental demand – but at very affordable prices as a result of us securing the units at wholesale value (much lower than comparable new builds in the area).

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