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This building in need of refurbishment in the heart of Palma offers an interesting investment opportunity in a sought after location
Palma, Mallorca, Spain
REF: 694121
€1,100,000
Description
This building in need of refurbishment in the heart of Palma offers an interesting investment opportunity in a sought after location. Just a stone's throw from the famous Mercat Olivar and the historic city centre, the building comprises four floors and a roof terrace. On a constructed area of 311m2 we find a generous storage room on the ground floor, a flat with 67m2 living space on each of the three floors and on top of that a roof terrace with storage rooms, which measures 47m2. The upper flats have individual air-conditioning split units, which have been positioned on the roof terrace. Each flat also has its own electricity, gas and water meter on the ground floor. The building is not grandfathered and can be rebuilt in this respect. DISTRIBUTION: Ground floor - 62m2 Entrance area, storage room 1st floor - 67m2 Living room, 2x bedroom, 1x bathroom, kitchen, guest toilet First floor2 - 67m2 living room, 3x bedroom, 1x bathroom, kitchen, guest toilet OG3 - 67m2 Living room, 3x bedroom, 1x bathroom, living room, kitchen, guest WC, 1st floor4 - 47m2 Roof terrace with two storage rooms - Storage room - 3 living floors - air conditioners - roof terrace - storerooms IBI: 615 Basura: 126
This building in need of refurbishment in the heart of Palma offers an interesting investment opportunity in a sought after location. Just a stone's throw from the famous Mercat Olivar and the historic city centre, the building comprises four floors and a roof terrace. On a constructed area of 311m2 we find a generous storage room on the ground floor, a flat with 67m2 living space on each of the three floors and on top of that a roof terrace with storage rooms, which measures 47m2. The upper flats have individual air-conditioning split units, which have been positioned on the roof terrace. Each flat also has its own electricity, gas and water meter on the ground floor. The building is not grandfathered and can be rebuilt in this respect. DISTRIBUTION: Ground floor - 62m2 Entrance area, storage room 1st floor - 67m2 Living room, 2x bedroom, 1x bathroom, kitchen, guest toilet First floor2 - 67m2 living room, 3x bedroom, 1x bathroom, kitchen, guest toilet OG3 - 67m2 Living room, 3x bedroom, 1x bathroom, living room, kitchen, guest WC, 1st floor4 - 47m2 Roof terrace with two storage rooms - Storage room - 3 living floors - air conditioners - roof terrace - storerooms IBI: 615 Basura: 126
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Currency Exchange
Palma, Mallorca, Spain
Interested in this property? Don't lose out to currency fluctuations changing the price you pay...
Many overseas buyers in Spain do not realise they can lose thousands of pounds through adverse currency exchange rate movements.
The property buying process in Spain takes time; it could be up to six months between seeing the property of your dreams and actually taking ownership. So how much would this €1,100,000 property cost you?
| Property Price € | Minimum cost in the last six months | Maximum cost in the last six months | Fluctuating exchange rates over the last six months could have increased the cost of this property by |
|---|---|---|---|
| €1,100,000 | £915,068 | £946,682 | £31,614 |
| Property Price € | €1,100,000 |
| Minimum cost in the last six months | £915,068 |
| Maximum cost in the last six months | £946,682 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £31,614 |
Palma, Mallorca, Spain
Interested in this property? Don't lose out to currency fluctuations changing the price you pay...
Many overseas buyers in Spain do not realise they can lose thousands of pounds through adverse currency exchange rate movements.
The property buying process in Spain takes time; it could be up to six months between seeing the property of your dreams and actually taking ownership. So how much would this €1,100,000 property cost you?
| Property Price € | Minimum cost in the last six months | Maximum cost in the last six months | Fluctuating exchange rates over the last six months could have increased the cost of this property by |
|---|---|---|---|
| €1,100,000 | £915,068 | £946,682 | £31,614 |
| Property Price € | €1,100,000 |
| Minimum cost in the last six months | £915,068 |
| Maximum cost in the last six months | £946,682 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £31,614 |
The exchange rate on the day you make an offer on your property in Spain will not be the same as the rate you pay when you complete on your purchase, as currency markets move constantly. Any large rate movements may take it beyond your price range as the chart above illustrates the fluctuation and how much extra your property could have cost you.
The best way to avoid this significant risk is to plan your budget and currency strategy with an experienced currency specialist. They have been known to save you up to 4% compared to many high street banks, £4,000 for every £100,000, which soon adds up. They will also keep you up to date on market movements, help you set a rate in advance with a product called a Forward Contract - so you know exactly what you will pay for your property in sterling.
This is why we recommend Smart Currency Exchange Ltd. If exchange rate movements continue to be as unpredictable and as significant as they have been in the past then by not using Smart Currency Exchange Ltd your property could cost you £31,614 more.
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