Prunty’s Overseas Properties, a family owned business and one of Ireland’s leading experts in the overseas property market with offices based in Dublin and Cork have announced the launch of The Sesimbra Bay Beach Resort in Portugal. Prunty’s will host an exhibition in the Burlington Hotel, Dublin and Hayfield Manor Hotel in Cork from Friday 30^th March to Sunday 1^st April 2007.

Sesimbra Bay Resort is situated overlooking a picturesque Portuguese Bay with stunning sea views. The location is truly sensational, one of the last sites available in the town that offers such a privileged view of the Bay. The development will be built into the hillside sloping down towards the beach with 180-degree views of the coast. These magnificent unspoilt views and dramatic hillside backdrop are the key elements behind the central design concept of the project.

Prices begin from €177,000 for this development which will consist of 204 luxury apartments, all with uninterrupted sea views situated in 3 condominiums of 3 levels each with private adults and a children’s pool. The main feature in the development will be a five star spa centre (400m2) with other facilities including and a bar and restaurant. Apartments come fully furnished and fitted to a five star finish.

Each apartment comes with a dramatic floor to ceiling glass wall, which opens out onto a spacious terrace to maximize the light and take full advantage of the amazing views. The terrace or balcony area has a glass and stainless steel balustrade providing an ideal suntrap for residents.

Kitchens come finished with high gloss cabinets, stainless steel counters and ceramic flooring giving a very contemporary and modern appeal. The kitchen is equipped with Zanussi dishwasher, fridge freezer, washing machine and microwave. Each apartment comes complete with wooden flooring throughout.

Paulo Zagallo, Managing Director of Lisop had the following to say about their latest product: “Sesimbra Bay is a truly magnificent project set on the hillside overlooking the tranquil Bay. Combining this unrivalled beach view with our design concept and carefully chosen landscaping with 5 star onsite spa and facilities we believe our product will be extremely popular with the overseas investor as it is priced very competitively.”

The International Hotel Management group ‘Kasamia’ will manage all apartments. Owners can sign a contract with the management company for a six-year period during which they can benefit from a rental income and six week use of the property per year. Each owner becomes a shareholder of all onsite facilities and all revenue the residence generates such as sales from the bar/restaurant etc.

With this new system, owners become part of the hotel management company. This concept is new to Europe and has proved to be an enormous success across the US. Owners have complete access to the bank statements of the company and allow online access to view how their investment property is performing. They can review the sales income and expenses from the running of the resort. They can also make online reservations for their own holidays. A call centre further supports the online system. 

The developers have arranged 90% mortgages subject to status on an interest only basis for the first five years. Purchasers invest 15% now when signing the reservation contract and another 5% upon completion to cover purchase tax.

The rental income during the first two years of ownership is guaranteed at a fixed 5% net of all charges, after these two years owners will be in a rental pool and can expect more.

This region in Portugal has become increasingly popular with golfers and holidaymakers due to the variety of championship courses, beautiful beaches, breathtaking natural beauty and all of the attractions on the stunning city of Lisbon. Owners will benefit from a 25% discount on green fees at the nearby championship Golf Course and special life membership packages also.

In 2006 the Channel Four programme, ‘A Place in the Sun’ ranked Portugal as one of the top 3 overseas property destinations. The programme ranked all the EU countries, plus the four nations that had applied to join and the research took into account the economic growth of the countries, property price rises and how much rental income a buyer can make.

Sesimbra town is situated only 30 minutes south of Lisbon City on the Blue Coast of Portugal. Aer Lingus operate regular flights to Lisbon throughout the year. The development company ‘Lisop’ was founded in 1981 and has a portfolio of high quality projects for the middle to upper market with commitment to excellence.

Prunty’s Overseas Properties will launch this in the Burlington Hotel, Dublin and the Hayfield Manor Hotel, Cork from Friday 30^th from 1pm to 7pm and Saturday 31^st and Sunday 1^st   from 12noon to 6pm. Reservation deposits of €5,000 will be taken on the day.

For all sales enquiries please contact Michelle Prunty on 01 4983733 or email: michelle@pruntys.com