€ 131,802 | USD $ 144,271
Size: Floor: 130 (m2)
, Estimated Date of completion: 2019
Advert last updated: 9/24/2019
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Mortgages available on these five star apartments opposite the sea
Is this the most exciting property project in the Mediterranean right now?
Busy Bees are proud to present this golden opportunity to buy luxurious apartments in this exciting new holiday and residential village now under construction in the Bogaz /Iskele area of friendly Northern Cyprus. The benefits of early investment are stunning and include savings of up to 20%* plus. With these massive savings, plus other great benefits, this is one for both buy to let and private buyers seeking a very special deal. Do not delay as this project selling out! Great investments still remaining.
2 bedroom apartments from just £101,900 with only 25% down payment. Nothing more until completion. Ref HP1526
The project offers investors, buy to let business people, holiday home or residential buyers, a chance to invest at this early stage of this prestigious development. The rewards for investing now are well worth consideration.
*Note that the developer will increase prices from the discounted list periodically until completion. This means that early investors benefit from a discount of well over 20% from the price list that will apply for the completed apartments. The earlier you reserve the bigger your savings
The planned upward price movements are not increases on the market value but steps towards the finished apartment market value from the discounted off plan base. This provides the built in rewards for early investors Many more great opportunities remain but please act quickly.
• Price saving cost advantages of 20% plus.
• 15 year mortgages available on approval from the Construction Companies bank
• 10 year mortgages GUARANTEED from the construction company
• Rental guarantees (If required)
• Only 25% down payment. (No stage payments before completion.)
• Quality furniture packages available.
• Choice of apartment types. *
• Choice of apartment locations.*
• A five star life style in elegant surroundings.
Accommodation choices designed to accommodate you.
The development is designed around six apartment blocks and an infrastructure that will result in the ambience and atmosphere that you would expect from a five star resort, indeed, the apartments will not be out of keeping with suites in five star hotels.
Life style by design
The upmarket friendly village atmosphere is enhanced by the layout of the village design which is centered upon the magnificent outdoor pool generating a relaxed holiday feel. The planned infrastructure is simply astonishing and adds very substantial value to this investment in a life style choice that will delight both you, your family and guests, or your rental clients. Quite awesome.
Will you ever need to leave the village? Probably not, but you are a short and pleasant drive from many of the attractions that the region has to offer and the local beach is just a few metres away. The best of both worlds beckons.
Reserve early-Save ££££s
The site of this exquisitely designed project, designed and being built by one the biggest and most respected developers in the country, is on the coastal strip at the south facing end of Famagusta Bay. The site, carefully selected, is in the district of Iskele and lies between the thriving village of Iskele, where most amenities such as banks, shops, medical facilities and so on can be found, and the quaint fishing village of Bogaz. The village of Bogaz is now a tourist destination in its own right, famous for the bars and restaurants clustered around the working harbour and the wonderful atmosphere that captivates everyone. Quite magical and a short drive or walk along the beach road from the site of this stunning new complex.
Historic Famagusta, locally known as Gazimagusa, is a short and very pleasant drive along the scenic coastal road. This bustling city, a fascinating mix of ancient and modern, is home to the Eastern Mediterranean University where a large number of lecturers and students add to the pool of prospective rental clients for those interested in this aspect of the investment. Eastwards lies the area of outstanding natural beauty that is the Karpaz Peninsula with some of the world’s finest beaches and the Karpaz Gate Marina being among its many attractions.
What a superb location in which to build a new and ultra-luxurious holiday and residential development!
Stop Press. August 2018 The developer behind this exciting project has just obtained permission to develop the beach area to the front of the complex providing a top class recreational and water sports feature that will add big value to the complex and to your investment. Another good reason to reserve your choice right now.
Site plans, prices and apartment information
The facilities that will be offered on site:-
On offer, either inclusive or at very reasonable costs, will be:-
City tours and excursions
Classy fitted out restaurant area and outside seating area
Asian fusion restaurant by night
Full a la carte restaurant during the day
Special kids menu
Bar and snack services to your sun lounger
Fiber optic Internet connection direct to your apartment
Ducted air conditioning units (No messy boxes on the exterior walls)
Laundry and dry cleaning
Pool concierge and life guard
Outdoor pool with swim to bar area
24 hour manned gated entrance
Tours of the Island
Hot air balloon rides
Boat trips by day and night
Traditional Cypriot nights out with traditional food and belly dancing
Kindergarten and evening babysitting services
Gym and aqua aerobics
Hairdressers salon and hairdresser services to your apartment
Beauty Spa with Turkish Hamam and massage rooms
Themed children’s activities and play area
Outside cinema area
24 hour security
Themed entertainment in the evening
3 day trips to Istanbul with site seeing
Weddings on the beach (Huge for rentals)
Camping trips on the Karpaz Peninsula
The buying options
You may simply choose to buy your choice of apartment/s, pay the low deposit and do your own thing. That is perfectly fine.
Contact us to register your interest without delay.
OTHER COSTS INVOLVED IN THE PURCHASE
All new properties are subject to 5% vat and 3% transfer at the end of the payment programme.
Solicitor’s fees are £1,400
Stamp Duty is 0.5%
Electric and water connection £2,000 per apartment.
Mortgage arrangement fee of 2% of the property price
Mortgages can be applied for in December 2019 for maximum 15 years.
Should the customer be turned down for the mortgage, a GUARANTEED 10 year mortgage will be offered from the construction company.
Our potential rental forecast against loan amounts:-
There is the opportunity to pay 25% down now and then nothing else is due until December 2019 at completion. At this stage your clients can apply for a 15 year loan with the construction companies own bank at 7% and if this is turned down, they AUTOMATICALLY get a 10 year loan from construction company themselves at 12%.
Our Company will in 2020 take the apartments on for short term lets where required.
Please see the figures below:-
For all apartments 25% is paid now, along with 0.5% stamp duty and £1,400 solicitors fees.
£2,000 of this amount is paid as reservation and contracts are drawn up and completion takes place on the 25% minus the £2,000 reservation fee within 4 weeks.
YOU THEN PAY NOTHING UNTIL DECEMBER 2019 AT COMPLETION.
In December 2019 you have options for the balance:-
You can apply to the Developers own bank for a mortgage over 10 or 15 years
If tunred down you will automatically get the 10 year mortgage from the construction Company no matter what your age or circumstance.
The developers own bank the following is required: (@7%)
• %25 down payment will be met by the buyer
• Bank loan will be upto %75 of the sale price of the property
• Security: 1st Legal charge over purchaed property
• min 1 Personal guarantor for overseas borrowers (can be a foreigner)
• Overseas Borrowers to produce documents evidencing permanent overseas adresses. (i.e Bank Statement, electricity / gas bills etc)
• Currecy GBP
• Interest rate : 7%
• Loan term : 10 Years but can be extended to 15 years in some cases
• Arrangement fee : %2 + 0.5% stamp duty
• In case of english speaking buyers, We prefer, all legal documentations to be signed at buyers solicitors Office after independent legal advice given and witnessed by their solicitors. This will be required at court in case of borrower defaults.
• House insurance will be done by the Bank
The Developer is offering a 7.5% GUARANTEED RENTAL for the first two years, but our figures have ignored this and are taking advantange of the 3% discount given when the rental guarantee is not taken, this is because short term lets will earn you far higher earnings.
2 BEDS Start at £101,900
£101,900 x 3% = £98,843 x 25% down payment (£24,710.75) = £74,132.25 on mortgage.
15 year mortgage if approved = £7,995.84 every year (£666.32 a month)
10 year payment plan if not approved = £12,762.96 every year (£1063.58 per month)
Projected rental MINIMUM £600 per week x 25 weeks = £15,000
With the 15 year mortgage you will cover your mortgage and potentially gross £7,004.16
With the 10 year mortgage you will cover your mortgage and potentially gross £2,237.04
THE NEXT STEP
Contact us to register your interest without obligation. If you have one or more specific apartments in mind let us have the block number and flat number/s and we will check current availability and get back to you promptly. Busy Bees, your friendly North Cyprus estate agents most local to this project, look forward to helping you secure your preferred apartments on this fabulous new holiday and residential village complex.
Nearest Airports: larnaca, 50 km