Las Canas Beach Resort For Sale in Dominican Republic
| €185.000 (approx £128.471) | |||||||||||||
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Project Name: Las Canas Location Ideally located on the north coast of the Dominican Republic only 30 minutes from Puerto Plata airport just outside the town of Cabarete will stand Las Canas Beach Resort, a luxury five star “boutique” hotel resort. Consisting of approximately 100 units, all units will be fully furnished and set amongst land directly on the beach and will be built within the lush, tropical landscape surrounded by many hundreds of palm trees. The privileged location of this development with its close proximity to the airport and its beach front location make Las Canas Beach Resort a fantastic opportunity to own a luxury, fully managed property in the Caribbean. The development will include private swimming pool and spa etc and a beach restaurant and bar. Rental Program Rental Income is guaranteed at 10% of your purchase Price for the initial 2 years followed by 50% of the room share. All units come fully furnished. Payment Schedule
NO FURTHER FUNDS DOWN 20% - completion of footings
Typical Purchase Example
Day 1: Holding Fee (£1,000) NO FURTHER FUNDS DOWN Apply for bank guarantee finance through First Caribbean International Bank or RBTT Bank (subject to status) for the remaining 70%. The bank guarantee will finance the remaining 70% of the build releasing funds in stages. At each release of funds the bank will instruct a surveyor to inspect the construction site to ensure the build is satisfactory before releasing client’s funds. Investors must pay the interest on the released funds until completion at which stage the client can enter into a traditional mortgage over a fixed term generally of 15 years.
Second quarter 2008 More reasons to invest in Las Canas The payment structure for Las Canas Boutique Beach Resort means you have to pay just 30% before you can take a bank guarantee (subject to status). The development is strategically location on the popular North coast of Dominican Republic only 30 minutes drive from the Airport in Puerto Plata, to which there are daily flights direct from the UK and Europe. A year round popular holiday destination with great weather and very little rainfall. The Las Canas development offers a fantastic opportunity to purchase a luxury residence under current market value. The northern coast of Dominican Republic is relatively untouched by commercial property developers unlike the east coast i.e. Punta Cana, Punta Perla, Cap Cana etc. There are several active buying and holiday markets in the Dominican Republic. In particular Americans because of its close proximity to the USA. Others include, British, Mexicans and Columbians. Dominican Republic remains the most cost effective way of holidaying in the Caribbean for this reason it is particularly popular with British. Highly promoted on British travel channels as an ideal “all inclusive” holiday resort. There is guaranteed income paid to investors of 10% per annum for 2 years from completion followed by a 50/50 chare of the room rate giving immediate positive cash flow to investors. Expected growth of 20% to 25% per annum for the next 4 to 5 years. Buyers could choose to sell on the unit before completion with the ability to more than double their initial deposit. In close proximity to some of the islands most beautiful beaches as well as having its own beach front location. Cabarete is a surfer’s paradise. Mortgage finance up to 70% LTV can be arranged. The bank guarantee offers added security to the investors as at ease release of funds the bank instruct a surveyor to inspect the construction site. No mortgages payments to make for 2 years during construction with immediate positive cash flow through the guaranteed rental paid to investors for 2 years followed by 50% share of the room rate. The island is a “tax haven” with is no purchase taxes, minimal annual taxes and no Capital Gains Tax (CGT) payable by investors.
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