A61788: a super “bargain” property investment opportunity – 4 bedroom apartment in Santa Ponsa, Southwest Mallorca

April 16, 2009 // Posted in Apartments for sale in Mallorca, Price reductions and bargains  

This is an obvious bargain opportunity and will not hang around for long. Please email us is for further photos and details if you are interested.

Santa Ponsa 4 bedroom apartment.jpg

The property is a 4 bedroom apartment in a small community in Santa Ponsa. It is a good quality community with just 4 units. The current owner bought the property four years ago with a view to renovating it but, unfortunately, his circumstances have changed and this has become a genuine “distress sale”.

This is a very spacious apartment with 160 m2 of living space. It is all in good order and only requires superficial renovation – bathrooms, kitchen, sockets and so on.

The area is quiet, the community costs are low, it has nice walk-out terraces and there are nice private gardens around it.

Prices in this area average around 3,000€ per m2, and this property has 160 m2 of constructed living space.

This equates to around Euro 480.000 for this property. In the current market it would probably fetch less … around Euro 400.000. However, the asking price here is a remarkable 270,000€ for a quick sale.

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