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Amazing Property Deal In The Spanish Algarve

13th November 2009: Costa de la Luz Property news



A developer in Huelva is now offering a fantastic deal to prospective buyers of the few remaining properties on Hoyo 14 – a luxury community of townhouses right by the beach and golf course of Nuevo Portil – an area known for it outstanding natural beauty on the Spanish Algarve.

With prices starting at 190,000 and La Caixa bank offering a 100% mortgage this ‘no money down’ opportunity is also a no brainier. In today’s competitive Spanish property market this is one of the best deals we have seen and the mortgage option completely offsets the current poor EUR exchange rate.

Prices are around 65,000 EUR below 2008 and most importantly the developer is not distressed – the offer is available to move the remaining inventory and makes more sense than buying repossessed property. The developer has 30 years experience and is on-site to provide after sales care, something that is not available from any bank!

The only difficult decision is whether to include the underground parking, kitchen and air con which are optional extras, how to use the additional 2 years free membership on the excellent Nuevo Portil golf course and where to sit on the beach when you get here.

The mortgage with La Caixa, is 100% LTV and repayments are based on a 30 year term at Euribor plus 0.9% (1,000 euros per month approx). Offers in principle are available within 48 hours from the bank’s London head office.

This really is one of those opportunities that is too good to miss and with the market picking up we strongly recommend visiting the wonderful location to see if it is for you. Nuevo Portil properties are nestled amongst protected umbrella pine trees giving the community a peaceful and private atmosphere much like Quinta do Lago on the Algarve but at a fraction of the price. The famous fishing town and marina of El Rompido are only 5 minutes away, golf and beach are walking distance and the area is already a popular destination for discerning European holiday makers.


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