Apartment/flat for Sale in Bogaz

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£2,007,500 GBP

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Ref 2222205 | Bogaz, Famagusta | Apartment

Currency services provided by Excel Currencies £2,007,500 GBP  |  €2,331,320 EUR (Approx)  |  Approx. US$2,494,979 USD
  • Type: Apartment/Flat
  • Location: Bogaz
  • Province: Famagusta
  • Country: Cyprus
  • Bedrooms: 0
  • Bathrooms: 0

Busy Bees are proud to present this golden opportunity to buy luxurious apartments and studios 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

Ref HP1526 I

£2,007,500

PAY 25% NOW, NOTHING UNTIL COMPLETION IN DECEMBER 2019. WE WILL DEMONSTRATE HOW RENTAL YIELDS WILL COVER THE REMAINING 75%, AND MORE!

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. As of November 2017 some studio and apartment prices have already risen in line with this strategy due to the massive early demand thus providing an investment return to date of 10% with more to come for those early investors. Many more great opportunities remain but please act quickly.

Key Features
•Price saving cost advantages. •15 year mortgages available. •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.

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 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. November 2017 The developer behind this exciting project has 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.

In addition to meeting the preferences of buyers seeking just one apartment or studio flat, this system has the added benefit of allowing perhaps a large family or buy to let investor to occupy a floor to themselves with a suitable combination of apartments and/or studio flats to meet their ideal needs.

Projected rental for short term lets. This is based on what is currently received in the area plus a small percentage for the forecast for 2020 and for the standard of this new project are in our opinion very achievable and if anything, lower than what will actually be asked for a project of such a high spec and design. 1 bedroom£400 per week x 25 weeks = £10,000x 10 units = £100,000 2 bedroom£600 per week x 25 weeks = £15,000 x 10 units = £150,000 3 bedroom£750 per week x 25 weeks = £18,750 x 5 units = £93,750 TOTAL INCOME FOR 1 YEAR = £343,750 MORTGAGE FOR 25 UNITS PER ANNUM = £209,778 £343,750 MINUS £209,778 = £133,973 PROFIT PER ANNUM (GROSS) A further discount of 8% can be given by the developer and has not been in the above figures. This discount is given against not taking a guaranteed rental from the Developer of 7.5%, which is advised against given the rental potential yields for short term lets.
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 £800 PER UNIT Stamp Duty is 0.5% Electric and water connection £2,000 per apartment. Mortgage arrangement fee of 2% of the property price.

THE NEXT STEP
If this serious offer is of interest, we would invite you to come and visit the site yourself, as part of a 3 day inspection trip courtesy of our Company. We will introduce you to the builder, with a guided tour around the complex and the builders head offices where any questions you have can be answered. We will also show you previous projects all completed by the same builder. Register your interest today.





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