Registry number: 5-0666472/001
Two bedroom apartment in Sutomore
Two bedroom apartment in Sutomore next to the sea
Characteristics of the apartment:
- apartment of 63m2 + 20m2 gallery
- the apartment is on the fourth floor without an elevator
- the apartment consists of an entrance hall, a living room, a kitchen, two bedrooms, a bathroom, a spacious terrace
- the apartment is furnished
- partial view of the city and mountains
- distance to the sea 150 meters
- developed infrastructure: supermarkets, market, clinic, school, post office, bus and railway stops
The apartment is ideal for year-round living and for renting out.
Expenses for apartment renovation and furnishing.
Costs for "standard economy repair"
Finishing materials 4,000 euros, construction work 3,000 euros, decor + lighting 3,000 euros, building materials 1,500 euros, design project 1,500 euros Total = 13,000 euros
Furnishing (built-in furniture and kitchen) 12150 euros
Total cost of renovation of the apartment 25150 euros
Purchase and renovation costs = 65,000 + 1,950 (one-time property turnover tax on purchase 3%) + 25,150 = 92,100 euros
Rent 70 euros / day. Maximum occupancy 80 days per season. Profitability per season 5600. Booking expenses 15%
Profitability minus Booking 4760 euros.
Possible monthly rent out of season for 300 euros per month for 8 months. Additional income for the year = 2400 euros. Total for the year: 7160 euros.
Purchase and maintenance costs 92100+400(annual tax+tax)= 92500.
Payback period 92500 euros / 7160 = 12.9 years. Profitability 7160*100/92500 = 7.7%
Calculations are given for 2021-2022.