Ciudad Patricia - Alicante Province - Costa Blanca
The Location
This already established development is situated within a quiet residential area set on a rise on the outskirts of Benidorm giving it a central and one of the most sorts after positions on the Costa Blanca. It is within forty minutes of Alicante City and the Airport, and a short distance to the coastal cities of Denia and Gandia where one can pick up a ferry to the popular Balearic Islands. The complex is a 5 minutes drive into the town centre, and a 15 minute walk to the coastal area of Old Benidorm town with its wonderful shops, restaurants and beautiful beaches. Benidorm also boasts a local train service.
The Development Itself
Ciudad Patricia first opened its doors in 1985 and has integrated well with the local community. Residents enjoy the benefits of security and the social life is active but unobtrusive. The village is close to local beaches, clubs, golf courses, bowling and shops. Pets are allowed on the complex providing they do not cause themselves to be a nuisance to the other residents.
The tastefully designed large apartments, all with balcony and some with private garden, share panoramic views over the countryside and towards the mountains. They are built in small groups of no more than 3 story high, and are well spaced by tended gardens. There are 3 outdoor swimming pools, and there is to be a new covered heated pool soon. An exclusive complex for active persons of generally 55 years and over, consisting of 175 one and two bedroom "Maisonettes� with ancillary facilities, and incorporating a 50 bed nursing home for 24hr care. Set in a secure and quiet environment with a beautiful outlook, Ciudad Patricia is well established and is all complemented with several amenities including a mini supermarket. The complex is within easy access to the coastal road N332, the E7 motorway link and the nearby seaside resort of Albir with wonderful open views to the countryside, sea and wonderful mountain scenery in the background. There are 2 golf courses nearby.
Facilities & Amenities
The site contains at present several facilities including 24hr emergency cover (plus off and onsite care support), 24hr security, nursing home, restaurant and bar, reception area, outdoor swimming pools, hobbies room, big lounge, library, cinema and mini supermarket etc. There is also a sports area with tennis, mini golf and petang.
Purchase Options
Whilst there are some properties for sale freehold starting from 175,000€, most properties are sold on Life Right of Use Option which includes a reducing percentage return upon death/departure within 10 years. These properties at present are still available with prices from 117,000€. (2-bedroomed apartment). N.B: Prices are set at a persons age being 65. A premium of 3,500€ is applied per year for the youngest person under this age down to 55 years.
On the other hand, a reduction of 3,500€ is applied for each year the person is above the age of 65 making this a very economic proposition. ALSO, THERE IS NO IVA (VAT) TO PAY WITH THIS OPTION. The life right of use plan gives one the right to live independently on the development.
The private contract issued will enable the purchaser to have exclusive rights to a property of their choosing for as long as they so require, i.e. their lifetime. With this if residents will also have the right to a refund on their departure on a sliding scale of up to 10 years from the original purchase. Upon their death, the refund will be passed over to their heirs. (Based upon approval by the company).
Payment Terms
Quite flexible dependent on your situation. Normally 5-10% on signing the contract and final payment upon completion. (A 2,500€ holding fee is also retained until departure)
Service charges
Service charges are payable per dwelling at 298€ per month.