Kaimar Luxury Residences
Wednesday, February 20th, 2008KAIMAR CONSULTING LTD OFFER LUXURY RESIDENCES
BUY TODAY! ONLY 5% DEPOSIT. VALID UNTIL MARCH 31ST 2008
WHY KAIMAR CONSULTING LTD CHOSE THIS DEAL
Optimum Location
Well located, top quality investment properties in Larnaca are in short supply, yet demand is high – this is an ideal supply/demand ratio and will support future capital growth.
Within the next few years Larnaca town will benefit from the extension of the International Airport, the extension of the Promenade, the new marina, improved infrastructure, a new golf course and the relocation of the nearby petrol and gas depots. These changes can only enhance an economic climate already attracting property investors. Property prices in Larnaca have been increasing slightly below the national average of Cyprus over the last three years due to the other faster development of the islands other main towns. However what makes Larnaca an interesting investment opportunity for the future is the planned developments, which will not only realign Larnaca with the rest of Cyprus but will result in greater % increases on today’s prices.
Financing
80% finance is available for all clients and this is arranged by our associates EasyLife Alliance who are regulated and authorised by the Financial Services Authority. With an exclusive 15% gifted deposit from us and your contribution of 5% the bank will finance the remaining 80%. Deals like this are virtually unheard of in this market.
Affordable Entry Prices
With an average purchase price of €205.500, initial deposit is just €10.275. It is highly unusual to get into the Cyprus property market at this low entry level, with nothing more to pay for at least 1 year until the first draw down takes place from your mortgage account for the financing of the build.
Long Completion Times
The project is due for completion in summer 2010. This means you’ll benefit from capital growth on the full purchase price for more than two years
The Apartments
All the spacious apartments and maisonettes offer outstanding design, top quality construction, high level specification and excellent value in a very friendly environment. All apartments have their own parking space on the ground level.
Features of the internal finishing include:
• Air Condition & Heating throughout
• Fully fitted wardrobes in all bedrooms
• Italian kitchen, complete with oven, hob & hood
• Combination of ceramic and laminate flooring
Price
Market Value - €205.500 (CY£120.273,81)
Gifted Deposit (10%) - €30.825 (CY£18.041,07)
Client Deposit (10%) - €10.275 (CY£6.013,69)
Mortgage (80%) - €164.400 (CY£96.219,05)
Number of Units – 84
Covered Area (m2) – 92
Price per m2 Gross - €2.010 (CY£1.176,40)
All prices above are quoted in €uro and include VAT
PAYMENT TIMETABLE
Immediate Reservation
€3.500 Reservation Fee
€850 Mortgage Application Fee
Deposit on exchange
10% of purchase price gifted by Easy Life Alliance
10% of purchase price (less €3.500) paid by buyer
Additional fees to be considered:
Payable at exchange of contract:
Solicitor Fees (inc. local search) €1.300
Land Registry 0.15%
Payable by completion:
0.50% arrangement fee
1.00% mortgage security fee
0.15% stamps on mortgage amount (0.20% for amounts over €170.000)
0.15% stamps on loan amount
0.40% Exchange commission (if applicable)
All prices above are quoted in €uros and include VAT
THE PROJECT
Kaimar Consulting Ltd are proud to present details of a beautiful development that exudes quality. This development of apartments offers a fantastic investment opportunity due to its close proximity to the beaches of Meneou and Larnaca town centre.
The development offers exceptional value against normal market prices with a unique cash back offer from the listed price, which enables the investor to secure the property with a low deposit and then enjoy the high capital growth potential during the construction phase.
Rotos Residences, Meneou
The project is located in the coastal village of Meneou, and is a mere five minutes from the golden beaches of Western Larnaca and the tranquil Mediterranean Sea. The development is within walking distance to all the local amenities, and tourist facilities of the neighbouring Kiti and Pervolia villages with a huge variety of restaurants and cafes. The project consists of 84 luxurious and contemporary 2 bedroom apartments and 2 and 3 bedroom maisonettes divided over 9 blocks. Owners in this complex can enjoy the use of a very large communal swimming pool and Jacuzzi which is surrounded by landscaped gardens of over 1000m², access to a gym and sauna to add to the luxury and serenity of the environment.
Additional features of the complex include:
• Electric gates at the entrance of the complex
• 18.5m x 7.5m swimming pool & separate 12 seat Jacuzzi
• 150m Gym & Sauna room
• Central satellite system servicing all apartments
• Children’s play area
PROFIT FORECAST
The value of any property is normally based on its yield, that is, a measure of the ratio between the cash flow produced by the property and its original price. However the yield expected by a potential buyer will vary depending on the perceived market risk associated with the property.
Emerging markets typically carry more risk, thus yields are higher and prices are lower, but as a market matures over time, the yields compress and prices rise. So as with most property investments, it is a risk versus reward relationship.
Your potential profit will come from entering into the Cyprus property market at this optimum point in its cycle where high yields are still commanded but where the risk – politically, economically and commercially has stabilised.
The information below demonstrates how the growth in the value of the units (as calculated using the typical pricing example above) combined with the leverage provided by the 80% mortgage.
Profit Forecast
Purchase Price - €205.500 (CY£120.273,81)
Potential Market Value in 5 Years* - €288.500 (CY£168.851,55)
Equity on Sale - €124.500 (CY£72.866,61)
Rental Income ** - €12.500 (CY£7.315,93)
Total Capital on Sale - €136.500 (CY£79.889,90)
Initial Deposit paid - €10.275 (CY£6.013,69)
Mortgage Investment (4 Years) - € 23.300 (CY£13.695,41)
Net Profit on Sale - €92.650 (CY£54.225,64)
Return on Initial Deposit - 901%
*Based on a conservatively forecasted open market yield of 7% growth per annum
**Based on 4% per annum for the 2 years from completion
For more information please email: enquiries@kaimarconsulting.com
Or call us:
Kaimar Head Office in Limassol: +357 25 318712
Kaimar Larnaca Office: +357 24 622203
Kaimar Ayia Napa Office: +357 23 724830
For a printable version of this blog, please visit Cyprus Investments
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