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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 and private buyers seeking a very special deal. Do not delay as this project is already 45% sold in just a few months. . Great investments still remaining.
From just £32,900 with only 25% down payment. Nothing more until completion.
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.
•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 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.
•A glorious open pool
•An indoor pool (for year round use)
•A children’s pool (To keep them safe and happy)
•A classy café
•A fitness centre
•Indoor children’s play area
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, 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. December 2017 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.
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.
For all apartments 25% is paid now, along with 0.5% stamp duty and £1,400 solicitors fees.
£1,000 of this amount is paid as reservation and contracts are drawn up and completion takes place on the 25% minus the £1,000 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)
•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 following figures are given for all types of aparments, and are averages for rental expectations and are based on what is being received in the area currently with a small amount of inflation for the year 2020. Currently there are not enough short term lets on quality complexes, so the amount of weeks is also conservative. It is our belief that this new complex willl have a higher demand than others in the area as it is directly opposite the sea and will offer far more facilities. These figures do not make any part of your sales contract, and are intended for guide purposes only. Prices given are base line and increase on higher floors. Individual quotes can be given for which floor you prefer. Rentals are averaged.
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 8% discount given when the rental guarantee is not taken, this is because short term lets will earn you far higher earnings.
£31,900 x 8% = £29,348 x 25% downpayment = (£7,337) = £22,011 on mortgage
15 year if approved = £2,374.08 every year (£197.84 a month)
10 years if not approved = £3,789.48 every year ( £315.79 month)
Projected rental MINIMUM £250 PER WEEK X 25 WEEKS = £6250
Wıth 15 year mortgage you will cover your mortgage and gross £3,875.92
With 10 year mortgage you will cover your mortgage and gross £2,460.52
£56,900 x 8% = £52,348 x 25% down payment (£13,087) = £39,261 on mortgage
You will be lending against £39,261
15 year if approved = £4324.68 every year (£352.89)
10 years if not approved = £6,759.36 every year
Projected rental MINIMUM £350 PER WEEK X 25 WEEKS = £8750
Wıth 15 year mortgage you will cover your morgage and gross £4425.32
With the 10 year mortgage you will cover your mortgage and gross £1990.64
£77,900 x 8% = £71,668 x 25% down payment (£17,917) = £53,751 on mortgage.
15 year mortgage if approved = £5,797.56 every year (£483.10 month)
10 year mortgage if not approved = £9254.04 every year (£771.17 month)
Projected rental MINIMUM £600 per week x 25 weeks = £15,000
With the 15 year mortgage you will cover your mortgage and gross £9,202.44
With the 10 year mortgage you will cover your mortgage and gross £5,745.96
£115,900 x 8% = £106,628 x 25% down payment (£26,657) = £79,971 on mortgage.
15 year if approved = £8,625.60 per year for 15 years (£718.80 month)
10 year if not approved = £13,768.20 per year for 10 years (£1147.35 month)
Projected rental MINIMUM £800 per week x 25 weeks = £20,000
Wıth the 15 year mortgage you will cover your mortgage and gross £11,843.24
Wıth the 10 year mortgage you will cover your mortgage and gross £6,231.80
2 BED DULUXE DUPLEX (ON 2 LEVELS)
£130,900 x 8% = £120,428 x 25% down payment (£30,107) = £90,321 on mortgage.
15 year if approved = £9741.96 per year for 15 years ((£810.83 month)
10 year if not approved = £15,550.08 per year for 10 years (£1295.84 month)
Projected rental MINIMUM £900 per week x 25 weeks = £22,500
With 15 year mortgage you will cover your mortgage and gross £12,758.04
With 10 year mortgage you will cover your mortgage and gross £6,949.92.93
There is also £2,000 for electric and water connection, payable in December 2019. When the mortgage has finished, or if you pay cash, you will pay 5% VAT and 3% to transfer the title deeds into your name.
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.
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