St Jean de Luz (Pyrenees Atlantiques) - RESIDENCE IRATZIA |
From 160,250€ |
Region: Basque Coast
Department: Pyrénées Atlantiques
Type: one to three bedroom apartments
Projected delivery date: June 2010
Lease length: 11 years
Yield: up to 4.4 % without occupancy
Price: from 160 250 euros to 322 250 euros
Prices include parking and furnishings; exclude VAT which is financed by the developer.
Personal occupancy: Flexible options from none to 23 weeks per year
Nearest airports: Biarritz (15 km) – San Sebastian, Spain (17 km)
Additional features: Outdoor swimming pool – paddling pool – tennis courts – restaurant – sun lounge – parking – kids’ club – laundry service – web access, TV…
The property:
This private domain will sit in a beautifully landscaped park, 200m from the sandy beach, and will comprise 14 small buildings, each of them offering 4 to 21 well-appointed one to three bedroom apartments with terrace or balcony and parking.
Whitewashed with dark red shutters in the traditional Basque style, the buildings will not be more than three storeys high and all the apartments will be fully furnished and equipped to a high standard of comfort.
The management company, Odalys (Nbr
- A 4.4% net yield with no personal occupancy and the possibility of benefiting from a 10% discount on the public prices in all the Odalys properties (over
- A 2% min guaranteed rental income plus a share of any additional earnings when you do not use your property: with this tailor-made ‘a la carte’ contract you can use your property for up to 6 months per annum.
- A ‘cash-back’ investment option: instead of receiving a regular rental income over 11 years, the 11 years worth of rent is reimbursed along with the VAT, representing a 30% cash-back on the price of the acquisition, while offering the same advantages as a traditional leaseback contract. This option also includes 6 weeks of personal use,
The location
The Basque country designates the area around the western foothills of the Pyrenean Mountains as they slope down into the Bay of Biscay. The area, which straddles France and Spain, is fiercely independent and a land apart from the nation-states to which it belongs. The traditional architecture, original cuisine and local drinks (there is even a Basque Coca-Cola!), the “frontons” in every village square where you will be able to enjoy a game of “Pelote Basque” - a most unusual game - the glamorous resort of Biarritz, the picturesque fishing harbour of Saint Jean de Luz and the more tranquil mountain villages, all combine to create a totally unique atmosphere. Not to forget the Basque people’s love of festivities as every village organises many traditional events, the most famous of which are “Les Fetes de Bayonne” that take place over several days every year in August.
The Basque country is a world capital of surfing, boasts several world-class golf courses, a pleasant climate all year round and an exceptionally beautiful and well-preserved environment coupled with a rich and diverse local history connected to the Basque culture, making this wonderful region one of the most up-market and sought after destinations for visitors and part-time residents. Property prices here are comparable to those on the French Riviera or Paris, but the area does not have the same built-up feel, probably due to the wide open expanses offered by the mountain scenery, long sandy beaches and open ocean views.
Our opinion:
An up-market destination and one of the most sought after areas in France, the Basque coast has a lot to offer. This property is extremely well-located in one of the smartest beach resort towns in France.