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
A Tourism Enterprises of Messinia S.A. project. The Residences at The Westin Resort, Costa Navarino are not owned, developed or sold by Starwood Hotels & Resorts Worldwide LLC, Starwood EAME License and Services Company BVBA, or their affiliates. Tourism Enterprises of Messinia S.A uses the Westin trademarks and trade names under a license from Starwood EAME License and Services Company BVBA. The Residences at The Westin resort, Costa Navarino are not offered to individuals who reside in the United States, entities that are organized under the laws of the United States, or to persons or entities located in the United States. The mandatory 18 year fully managed rental program is provided by the developer. First five years fixed rental income equal to 4%, net-of-expenses, pretax, while the next 13 years variable on a net revenue 50/50 split system between owner and the developer.