Property ownership at Monte Carvoeiro

Share experience regarding ownership of property and/or living in Portugal.
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johnhughes
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Property ownership at Monte Carvoeiro

Post by johnhughes »

We are interested in buying a house on the Monte Carvoeiro development, and using the management company (Carvoeiro Clube) to look after rental etc. Does anyone have any experience of this company and what they are like to work with etc ?

Does anyone have any comments in general on property ownership at Monte Carvoeiro?

Any comments / info would be appreciated.

Thanks
widge
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Re: Property ownership at Monte Carvoeiro

Post by widge »

Don't expect to turn a profit on your purchase! Owning property here is expensive and the rental market is currently depressed. If you love the area and intend to spend quality time here then go for it and expect it to break even at best .
johnhughes
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Re: Property ownership at Monte Carvoeiro

Post by johnhughes »

Thanks Widge for taking the time to reply to my post. My plan has never been to make a profit - I am funding the purchase myself, but hope that rentals will cover all of the other running costs, and perhaps pay towards our own flights. Do you rent and, if so, what are your bookings looking like for 2009?

Out of interest, what is your view of the price at Monte Carvoeiro? - 2 bed town house €199,000.

Thanks again
Bruce Wallis
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Re: Property ownership at Monte Carvoeiro

Post by Bruce Wallis »

To get a realistic view on that one you need to either find someone close to you, with a similar spec house and find out from them.
Failing that, contact a reputable lettings and management agency and ask them for a realistic assessment.

As a rule of thumb, lettings is about location, location, location, and what an estate agent will tell you about that and lettings potential is slewed towards him making the sale. Ask for evidence to support what he maybe telling you about rental potential.
You must also realise that if you intend to make the place pay for itself, you probably need about 12+ weeks rental a season, and that may well preclude your own use in July and August in order for you to tap the most effective rental market.

If you want an honest assessment of your place and the potential lettings market, I can recommend my manager Kate at Elite - link on the rentals section http://www.rent.carvoeiro.com/
e-richard
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Re: Property ownership at Monte Carvoeiro

Post by e-richard »

A few months ago, I would have thought that was a sensible price. Today ?????????????

Also see this post by Martin.
SJ & RE
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Re: Property ownership at Monte Carvoeiro

Post by SJ & RE »

Have a chat with Maureen in the office and Christine up at MCVO, they will assist you well .
If over in the UK, contact Maureen on the website for MCVO/QDP etc
Milo
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Re: Property ownership at Monte Carvoeiro

Post by Milo »

Is there a web site address for elite rentals as i am considering changing my current property agent.

Thank you
Bruce Wallis
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Re: Property ownership at Monte Carvoeiro

Post by Bruce Wallis »

Milo wrote:Is there a web site address for elite rentals as i am considering changing my current property agent.

Thank you
I've pmd you with it
Milo
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Re: Property ownership at Monte Carvoeiro

Post by Milo »

Many thanks for info.

milo
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