Long term rental

[blue]

Nice.

[EMM]

Remember, you are " not where you come from " you are in Portugal where the market is very very different.

Monte Santo is a 5 star holiday resort hardly I would think that anyone looking for somewhere to live ( assume on a budget ) would choose.

But good luck anyway ( going rate seems from other forums to be around 500- 600 E/month ( 1200 ? )

[juliecu]

Not EVERONE lives on a budget! thank goodness!. The price is targetted to reflect the quality of the accommodation, maybe 500 euros for a one bed flat above a chip shop, but thank you for your imput!

[fmm]

I assume the prices includes management fees, council charges etc?

[tricky]

Last time i passed Monte Santo, the grounds were becoming overgrown and badly needed weeding.
If I owned at Monte Santo I would be taking that up with the management.

[EMM]

I have not seen many apartments over chip shops or off liscences in Sesmarais or surounding areas .
We are talking about Portugal not the UK.
Someone needs to do a bit of market research

[blue]

Personally for that money I'd expect something more than accommodation on a holiday complex that reminds me of a prison camp (albeit an upmarket one) in a not so good part of town. But I suppose what one person thinks of as luxury another thinks of as nouveau riche vulgarity. Each to their own.

[ken]

Think someone needs to have a reality check on what the market value for a long term is before taking some 'high ground' and biting people heads off.

We are not talking about the UK, a point you bizarrely seem to not understand. With the Portguese economy being closely linked to UK, and also having a recession of its own, not surprisingly property values/rental incomes in Portugal have come down (admitedly some were unrealistic anyway). Just have a look in any estate agency in Carvoeiro....probably get a villa with private pool for 1200 a month.

[joanne]

I really do not think any one could afford to rent out their Villa for 1200 a month with pool, unless they wanted to rent at a loss..............................I am sure anyone who has a Villa like we do will tell you it def costs more than 1200 a month, once all the bills, pool man, morg, etc are paid.

Example my Parents at the moment are renting a 2 Bed apartment in the Village, no pool, parking on the Road, it is costing the 200 Euros a week, not a month and they are staying a while, so what has been quoted is not bad as it is all brand new, and it is the nicest looking prison camp I have ever seen.

[ken]

I am sure most villas with pools do cost more than 1200E a month, but there are some out there that can be got for this. However my point is that in todays market many people are having to rent out at a loss. The cost to owner has little relation at all in the equation.

Its simply supply and demand and an apartment is only worth what someone is prepared to pay rental. Over supply and lower demand has driven down rental yields so alot of owners are having to make a choice of its better to cover some costs than none at all.

I know what my 2 bedrooom apartment costs me per month in Carvoeiro, and although the tourist short term rate would be higher, the long term rental rate would probably not cover mortgage, service charges etc. The days of being able to take a mortgage and get an easy rental profit are gone for the time being. Same applies in the UK, at present you can generally rent a better quality place for less than comparable mortgage, even though morgage rates are so low.

[juliecu]

Thanks for all imput and comments everybody, have managed to rent out the appartment (prison camp) long term to a young professional couple.

[blue]

Well done you! I did say upmarket. Just goes to show one man's poison is a another man's meat

[ken]

Sarcasim always comes across so well in written communication

[EMM]

Lets give them credit for finding some one with such excellent taste .
The rest of us must have got it wrong all these years.
I for one have doubled my rates and expect a deluge of bookings ( holiday in the seychelles planned ).

As they say " there is one born every minute ".

[joanne]

Sorry to keep going on about this but what is the point of renting out at a LOSS, it is better to just not rent, we do not rent out, but there would be no point in renting at a loss.

So glad that your apartment has been rented out I think it is very nice, have some friends who stayed there last year and they said it was very nice and worth the money.