Description:
Situated just 400m back from the wide sandy beach the development consists of 108 well proportioned apartments set around a large free form swimming pool. The remaining one bedroom apartments are priced at 790 Euros per square metre for a finished apartment or an additional 4,500 Euros ensures a fully furnished ready to rent apartment.
Sunny Holiday currently operates under contract to a large international tour operator that markets the property primarily to the Scandinavian market.
As at the end of June 2007, the season occupancy rates were as follows -
72% in May and September
77% in June
86% in July and August.
At the current rental rates this is translates to a 3,000 Euro income for a one bedroom apartment for the season or an expected return of 5.2% on investment.
The management company has already signed a contract with the same operator for the 2008 season with a 7% increase in rental rates. They are also in the process of agreeing contr |
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