West Cliffs Resort
THE TOURISTIC DEVELOPMENT
West Cliffs Resort was carefully designed to include multiple residential, leisure and wellness offerings to suit your every day need. The Resort, properties and golf course were designed to be integrated in the landscape, in harmony with the natural environment and maintaining the eco system sustainability. It seems as if it was always here, waiting for you.
The Resort is committed to reducing the impact of its activities on the environment, serving as an example of good environmental and social practices, and as a means of dissemination to its associates, clients and guests. For this reason, in 2022 it was awarded the Green Key Award, an international award that promotes sustainable tourism in Portugal, sponsored by the Foundation for Environmental Education (FEE).
West Cliffs Resort started its project in 2015, opening the Golf Course and the Club House restaurant in 2017. Since then, the construction of numerous properties began, and the tourist operation of these properties took place in 2020.
The Resort is currently under construction and the final project of the development foresees the construction of 469 accommodation units, two 5-star hotels and several spaces for complementary services and leisure.
INVESTMENT MODEL
Through its rental programme, property owners can gain passive income while not at the property. The West Cliffs team will take care of property management and managing guest stays. The owner keeps 70% of the daily rate revenue, while deducting a daily fee for cleaning services and amenities maintenance.
Estimated Average Gross Rate of Return is 3,5%. The rental programme is an option for owners to take full advantage of their property investment.
For example, a property investment of €602,000, the gross estimated profit per year is €21,386, equivalent to a 3,5% yield.
For a final yield calculation, other expenses must be taken into account. These expenses are:
- Condominium:
Periodic contribution for condo cost varies per property, covering:- Operational Costs
- Services (reception, concierge, security, garbage collection, gardening)
- Maintenance (street maintenance, water piping, etc.)
- Equipments (pools, children’s playgrounds)
- Other Administration Costs
- Contingencies
- Fees and Commissions
- Reserve Fund – 4% of Total
- Management Fee – 20% of Total Expenses
- Utilities & Other:
Estimated costs for a T3 Twin Villa:- Garden maintenance – €120/month
- TV & Internet – €30/month
- Maintenance – €190/month
- Insurance – €30/month
- Property Tax – 0,36% of property value per year
- Water and Energy – €130/month
- IMT and IS (taxes related to property acquisition)
The final estimated profit per year, when taking these estimated variable expenses into account, is equal to 13,099€. This represents a yield of 2,2% (includes IMT and IS costs. The owner still has to take into account rental taxes or personal income taxes, which are individual. Special statuses may apply to foreign residents).
THE LOCATION
