Property for sale in Boghaz - 34759677 - Advertised on propertyO by Busy Bees Estate Agents

Condo for sale

£150,900

Famagusta, Boghaz, Cyprus Property ID: 34759677


Property description

3 BEDROOM DUPLEX APARTMENTS FROM £136,900

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.

Key Features

  • 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

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.

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.

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 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.

 

The facilities that will be offered on site:-

Airport transfers

Taxi service

Car rentals

Classy fitted out restaurant area and outside seating area

Bar and snack services to your sun lounger

Fiber optic Internet connection

Ducted air conditioning units (No messy boxes on the exterior walls)

Laundry and dry cleaning

Pool concierge and life guard

Indoor pool

Outdoor pool with bar area

24 hour manned gated entrance

Casino trips

Golf 

Tours of the Island

Bowling

Go Karting

Hot air balloon rides

Boat trips

Traditional Cypriot nights out

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

Weddings on the beach (Huge for rentals)

Fishing trips

Camping trips on the Karpaz Peninsula

Beach bar 

Water sports

 

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.

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

 

You then have options for the balance:-

Cash or 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% over 2 years GUARANTEED RENTAL , 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.

 

 

3 BED DULUXE DUPLEX (ON 2 LEVELS)

£150,900 x 3% = £146,373  x 25% down payment (£36,593.25) = £109,779.75 on  mortgage.

15 year  if approved                        = £11,840.76 per year for 15 years ((£986.73 month)

10 year if not approved                 = £18,900.24 per year for 10 years (£1,575.02 month)

Projected rental               MINIMUM  £900 per week x 25 weeks = £22,500

With 15 year mortgage you will cover your mortgage and gross £10,659.24

With 10 year mortgage you will cover your mortgage and gross £3,599.76

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