The Residences at The Westin Resort, Costa Navarino is a collection of fully-furnished, freehold resort apartments for sale at the heart of The Westin Resort, Costa Navarino. Apartments’ owners are entitled to a certain free usage period per annum along with a rental income for the remaining time of the year.
Each apartment is formed by a Family Suite and an interconnecting Deluxe Room, part of The Westin’s existing collection of rooms and suites. Laid out on a 120sqm single floor area, all apartments consist of two bedrooms with en suite bathrooms, a living/dining room, a wc and spacious covered verandas. While all apartments are similar in size, layout and interior design, different options are available in terms of leveling and views. A limited number of apartments feature a private infinity-edge swimming pool.
Owners may use their apartment for eight weeks every year*, enjoying access to all resort facilities, amenities and experiences, including Costa Navarino’s 18-hole signature golf courses, The Dunes Course & The Bay Course. At the same time, they receive an annual income by placing their apartment in the resort’s rental pool, when not in use, through a fully managed, mandatory 18-year rental program.
The rental program provides, for the first 5 years, a fixed annual income equal to 4% of the purchase value (net-of-expenses, pre-tax). For the remaining 13 years of the lease contract, income is based on a 50/50 split system between the owner and the operator.
* specific restrictions apply