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Investment project with the yield of 14.5%, Athens, Greece

99,000 €
1,596 € /m²
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Total area: 62 m²
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Features
  • Yield: 14.5%
  • Operating Incomе: 14,306 €
  • 1 floor
  • Notary (state registration): 1.5%
  • Acquisition tax: 3.09%

Direct Tranio product.

The essence of the project is the purchase and renovation of the apartment for a short-term lease.

Description

The area of the apartment is 62 m².

The apartment is located on the ground floor of the building and includes 2 rooms, a kitchen, and a bathroom.

The cost of repairs is included in the price of the apartment.

The price is valid until September 30, 2018.

From October 1, the price of the apartment will rise to 109,000 euros.

Benefits 

A fully legal rental business — a project is sold with a short-term lease license. 

The Possibility to obtain a residence permit for a group of investors and their families (spouses, their parents, and children) for the whole period of their tenure when buying one or more properties worth more than 250 thousand euros. 

Turnkey project — complete transaction support, consulting, professional management of the rental business.

Financial performance

With an average occupancy rate of 65% and an average daily rent of 60 €, the projected annual income is 14,306 €.

The projected yield of 14.5%.

Transaction costs

Notary — 1,5%.

Acquisition tax is 3,09%.

Legal services — 1.5% + 24% VAT.

The cost of ownership

According to preliminary calculations, the annual utility payments are 1,300 euros.

The cost of the management company services is 25% of the annual rental revenue.

Location and nearby objects

The property is located in a quiet and safe area of Neos Kosmos, in a ten-minute walk from the metro station and in a two-minute walk from the tram stop that connects the center and the coast. The address is Baknana 5.

There are supermarkets, a pharmacy, cafes, and shops in a walking distance from the building.

The nearest metro station Neos Kosmos is 800 meters away, and the Acropolis is 2.5 km away.

We can help you get a Gold Visa (permit without tax residence) when buying a property worth €250,000 or more.

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Enquire about this buy-to-let apartment
Inna Klimaeva
Inna Klimaeva
Real Estate Expert Tranio in Athens
+44 20 3608 1267
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    When you submit a request, you agree to our terms and conditions
    • Residence permit support
    • Mortgage rates from 3.5%