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Lucas Fox Madrid presents this exclusive apartment to renovate, ideal as a real estate investment, in the sought-after Recoletos neighbourhood
Madrid, Madrid, Spain, 28001
REF: 966293
€5,490,000
Description
Lucas Fox Madrid presents this exclusive apartment to renovate, ideal as a real estate investment, in the sought-after Recoletos neighbourhood . This coveted neighborhood offers access to high-end amenities , gourmet restaurants, designer boutiques, and art galleries, making it one of the most exclusive and sought-after areas in the Spanish capital. The property is located in an elegant classic building . The apartment boasts exceptional features, such as 3.70-meter-high ceilings and four exterior balconies that provide panoramic views and abundant natural light. It's worth noting that the property is currently demolished and has no load-bearing walls. This feature offers the buyer the unique opportunity to design and distribute the space according to their preferences. Additionally, the buyer is offered an innovative proposal: various renovation options to choose from, offering the opportunity to adapt the property to the specific tastes and needs of the future owner. It has easy access to renowned cultural and tourist attractions such as Retiro Park and the Prado Museum. It is also close to multiple access points and transportation routes.
Lucas Fox Madrid presents this exclusive apartment to renovate, ideal as a real estate investment, in the sought-after Recoletos neighbourhood . This coveted neighborhood offers access to high-end amenities , gourmet restaurants, designer boutiques, and art galleries, making it one of the most exclusive and sought-after areas in the Spanish capital. The property is located in an elegant classic building . The apartment boasts exceptional features, such as 3.70-meter-high ceilings and four exterior balconies that provide panoramic views and abundant natural light. It's worth noting that the property is currently demolished and has no load-bearing walls. This feature offers the buyer the unique opportunity to design and distribute the space according to their preferences. Additionally, the buyer is offered an innovative proposal: various renovation options to choose from, offering the opportunity to adapt the property to the specific tastes and needs of the future owner. It has easy access to renowned cultural and tourist attractions such as Retiro Park and the Prado Museum. It is also close to multiple access points and transportation routes.
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Currency Exchange
Madrid, Madrid, Spain, 28001
Interested in this property? Don't lose out to currency fluctuations changing the price you pay...
Many overseas buyers in Spain do not realise they can lose thousands of pounds through adverse currency exchange rate movements.
The property buying process in Spain takes time; it could be up to six months between seeing the property of your dreams and actually taking ownership. So how much would this €5,490,000 property cost you?
| Property Price € | Minimum cost in the last six months | Maximum cost in the last six months | Fluctuating exchange rates over the last six months could have increased the cost of this property by |
|---|---|---|---|
| €5,490,000 | £4,531,226 | £4,765,814 | £234,588 |
| Property Price € | €5,490,000 |
| Minimum cost in the last six months | £4,531,226 |
| Maximum cost in the last six months | £4,765,814 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £234,588 |
Madrid, Madrid, Spain, 28001
Interested in this property? Don't lose out to currency fluctuations changing the price you pay...
Many overseas buyers in Spain do not realise they can lose thousands of pounds through adverse currency exchange rate movements.
The property buying process in Spain takes time; it could be up to six months between seeing the property of your dreams and actually taking ownership. So how much would this €5,490,000 property cost you?
| Property Price € | Minimum cost in the last six months | Maximum cost in the last six months | Fluctuating exchange rates over the last six months could have increased the cost of this property by |
|---|---|---|---|
| €5,490,000 | £4,531,226 | £4,765,814 | £234,588 |
| Property Price € | €5,490,000 |
| Minimum cost in the last six months | £4,531,226 |
| Maximum cost in the last six months | £4,765,814 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £234,588 |
The exchange rate on the day you make an offer on your property in Spain will not be the same as the rate you pay when you complete on your purchase, as currency markets move constantly. Any large rate movements may take it beyond your price range as the chart above illustrates the fluctuation and how much extra your property could have cost you.
The best way to avoid this significant risk is to plan your budget and currency strategy with an experienced currency specialist. They have been known to save you up to 4% compared to many high street banks, £4,000 for every £100,000, which soon adds up. They will also keep you up to date on market movements, help you set a rate in advance with a product called a Forward Contract - so you know exactly what you will pay for your property in sterling.
This is why we recommend Smart Currency Exchange Ltd. If exchange rate movements continue to be as unpredictable and as significant as they have been in the past then by not using Smart Currency Exchange Ltd your property could cost you £234,588 more.
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