More and more people buy holiday homes, but few are fortunate enough to be able to spend more than a short time each year enjoying them.
Tourist Apartments the match the opportunity of spending time in your home, plus excellent investment and rental returns.
A second home, fully furnished and equipped, professionally managed by a specialised management company

What are "Tourist Apartments"?
"Tourist Apartment" is the term given in Portuguese Law to apartment properties destined for holiday use.
By this method individuals buy a property as an investment, and , benefit from the profits they make from renting the purchased property out to tourists.

What are the main benefits of owning "tourist apartments"?
Individuals buy a professionally managed investment property, which combines income derived from tourism with the benefit from their right to use their apartment for personal use, for a predetermined period every year.

Laguna Golf Tourist Apartments
Laguna Golf is a holiday apartment development comprising 47 one, two and three-bedroom apartments distributed by 13 story building and 13 townhouses in Vilamoura, Algarve.

What am I really buying?
The owner is buying a complete property for investment, which has the potential to generate an income, above the market’s competitive average capital gains. Essentially, the owner is buying an apartment in a four-star resort, renowned for its characteristic and excellent location.

What is included in the "package"?
The owner has ownership of a particular apartment, together with the content of the apartment, including its goods, decorative apparel and equipment.
The owner concedes the exclusive right to manage and operate the apartment as a "Tourist Apartment", for a determined period, by a specialised management company, which will manage and run the apartment and provide income for the owner.

What contracts are involved?
The owner celebrates a purchase contract with Tecniger, and a compulsory tourism contract with the management company.

How will my apartment generate an income?
The owner will receive his share of the income of the net tourism revenue, in accordance with the terms of signed Tourism Transaction Contract, that is to say the proportional share of the income of the net tourism revenue applicable to his apartment.

How is the income calculated?
The owner’s income will be dependent of net tourism revenue calculated in accordance with the foreseen in the Tourism Transaction Contract, which establishes, essentially, that the owner has the right to proportionally calculated revenue, based on the property owned, the size of the property and the periods in which the property was available and took part in the network of the tourism system, in all operational costs, expenses, condominium costs, management costs, reserve funds/operating funds and any other costs as foresee in the Tourism Transaction Contract.

Will my apartment increase in value?
Portugal has enjoyed continued, stable growth in property investment, with average annual growth of 10% in the Algarve. It is clear that the Algarve.
The Algarve offers a sustainable and safe holiday destination, easily accessible from the majority of European countries, by plane or car.
Every indication and forecast points to the Algarve continuing in this vein, and, at least, benefiting from the same levels of growth of the last ten years, under normal conditions and a stable economic environment.

Do different owners receive different revenue levels?
Each owner of the same kind of apartment receives the same level of return during the first two years, a fixed guaranteed return of 5% per year on your investment.
From the third year onwards there is no guaranteed return and income is subject to normal market conditions, and can vary from owner to owner, depending on the fact the owner is using his apartment during his period of use, or not.

How is the tourist apartment revenue distributed?
The total revenue generated by the tourist apartments is distributed in the account belonging to the Tourism System, deduced of every operational costs, costs and payments to the management company, condominium and reserve fund, as foreseen in the Tourism Transaction Contract, identified as Tourism Net Income, which is subsequently periodically distributed to every owner, and calculated according to the formula determined in the contract.

What happens during the periods of owner use when I use my apartment?
In the periods in which the owner uses the apartment during the period of use reserved for owners, the property is removed from the Tourism System and the owner receives no revenue, nor is he responsible for any operational costs during the period in which the apartment is removed from the Tourism System.
The owner is only responsible for the payment of the effective cost of operation expenses during his period of occupation, based on utility costs incurred and expenses relative to service provision.

What happens if my apartment is never let for tourism purposes?
If the apartment is available within the Tourism System and is not being used by the owner or by guests of the owner, the owner will not be effected as to whether the apartment is being let or not to paying guests, since the Total Net Tourism Income of every available apartment is distributed into the Tourism System and distributed in accordance with the provisions of the contract.

How often do I receive my revenue payments?
Tourism Network revenue payments will be made in full to owners every six months.

In which currency is the payment made?
Owners will be paid in Euros (€).

Are the apartments furnished?
Tourist apartments are furnished in accordance with four-star standards and matching design quality of this development. FFF&E is included in the purchase price.

Who takes care of repairs and maintenance?
The management company will be responsible for apartment repair and maintenance issues, including FFF&E within the apartments. Costs related to repairs and maintenance will be considered operation costs and will be paid by the revenue generated by the apartments.

Who owns the furniture?
The FFF&E in the apartments belongs to the owner, although the owner grants the exclusive right and control of these FFF&E to the management company as a compulsory element of the Tourism Transaction Contract which came into effect at the same time as the purchase of the property.

Can I take the television home with me?
No. A FFF&E should remain in the apartment, and always at the disposal of the management company, to manage and run the apartment as a unit with a brand image.

Are there restrictions on resale of my apartment?
Owners are obliged to notify the management company of their intention to sell as soon as they make this decision and before putting the property up for sale.

The owners or agents designated by the owners cannot advertise or place any kind of advertisement on the property, and/or in the resort concerning the sale of the property.

Additionally, the owner and/or the agents designated by the owners, should coordinate their actions with the management company when providing access to potential buyers to their property.

Any resale is subject to the signing on the part of the buyer of the tourism agreement.

How can I sell my apartment?
Given the nature of the product, the management company encourages the owner to designate a Real Estate Mediation company credible and experienced on selling this kind of product.