About Project

New and ultra-luxurious holiday and residential development

Bogaz/Iskele area, Agios Ilias,Cyprus


Developed By
Levent Homes

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New and ultra-luxurious holiday and residential development

  • Design By

    leading group 'Levent'

  • Price Range

    128900

  • Project Stage

    Ongoing Development

  • Payment Plan

    101900-128900

Description

New and ultra-luxurious holiday and residential development!
Abelia project,-  Bogaz/Iskele area, Northern Cyprus
Construction by:  leading group 'Levent',

APARTMENT TYPES:
1. 2 bedroom apartments
   £101,900  Ref HP1526
2. 3 BEDROOM APARTMENTS
   FROM  £128,900
3. 3 BEDROOMS APARTMENTS (DUPLEX on 2 levels)
FROM: £150,900   
Reference number: HP1526 3d

25% down payment.  
Nothing more until completion.

    25% DOWN  NOW
    NOTHING UNTIL COMPLETION DEC 2019
    ALL APARTMENTS FACE THE SEA
    UPTO 15 YEAR MORTGAGES
    FACILITIES ON SITE WILL BE SECOND TO NONE
    3 NIGHTS INSPECTION TRIPS
    SHUTTLE BUS TO THE CITY OF FAMAGUSTA
    NO NEED FOR A CAR!!!!!

    RIGHT OPPOSITE THE BEACH
    WALKING DISTANCE TO SUPERMARKET, BARS AND THE HARBOUR
    NO CAR NEEDED
    POTENTIALLY 7 YEARS PAY BACK FROM SHORT TERM HOLIDAY LETS
    EVERYTHING AND MORE YOU WILL NEED FROM AN APARTMENT

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 notincreases on the market value but steps towardsthe 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.
 

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.

 

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.

Life style by design

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.

 Reserve early-Save!


 The Location

 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 residentialdevelopment!
 

 The facilities that will be offered on site:-

On offer, either inclusive or at very reasonable costs, will be:-

Airport transfers

Taxi service

Car rentals

City tours and excursions

Classy fitted out restaurant area and outside seating area

Asian fusion restaurant by night

Full a la carte restaurant during the day

Special kids menu

Bar and snack services to your sun lounger

Fiber optic Internet connection direct to your apartment

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 swim to bar area

24 hour manned gated entrance

Casino trips

Golf

Horse riding

Tours of the Island

Bowling

Go Karting

Hot air balloon rides

Boat trips by day and night

Traditional Cypriot nights out with traditional food and belly dancing

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

Themed entertainment in the evening

3 day trips to Istanbul with site seeing

 Weddings on the beach (Huge for rentals)

Fishing trips

Camping trips on the Karpaz Peninsula

Beach bar

Water sports
 

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.


2 BEDS Start at £101,900

2 bedroom apartments from just £101,900 with only 25% down payment.  Nothing more until completion. Reference number: HP1526

Guaranteed rental of 7.5% for the entire two years

The Developer is offering a 7.5% total 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 far higher earnings.

£101,900 x 3%  = £98,843   x 25% down payment (£24,710.75) = £74,132.25 on mortgage.

15 year mortgage if approved:       = £7,995.84  every year (£666.32 month)

10 year mortgage if not approved: = £12,762.98  every year (£1063.58 per month)

Every year:-

Projected rental:           MINIMUM £600 per week x 25 weeks = £15,000

With the 15 year mortgage you will cover your mortgage and potentially gross £7,004.16

With the 10 year mortgage you will cover your mortgage and potentially  gross £2,237.02



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.


3 BEDS start from £128,900

3 bedroom apartments from just £128,900 with only 25% down payment.  Nothing more until completion. Reference number: HP1526 3

 

£128,900 x 3%  = £125,033  x 25% down payment  (£31,258.25) = £93,774.75 on mortgage.

15 year  if approved:       = £10,109.64 per year for 15 years  (£842.47 month)

10 year if not approved:  = £16,144.80 per year for 10 years (£1,345.40 month)

 

PER YEAR

Projected rental: MINIMUM  £800 per week x 25 weeks = £20,000

Wıth the 15 year mortgage you will cover your mortgage and gross £9,890,36

Wıth the 10 year mortgage you will cover your mortgage and gross £3,855.20


3 BEDS DULUXE DUPLEX (ON 2 LEVELS)

3 bedroom apartments from just £150,900 with only 25% down payment.  Nothing more until completion. Reference number: HP1526 3d

 

£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 per 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


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 partner Busy Bee Company will in 2020 take the apartments on for short term lets where required.

 

Please see the figures below:-

 

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.

 

In December 2019 you have options for the balance:-

 

Cash

You can apply to the Developers own bank for a mortgage over 10 or 15 years

 

If turned 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%)

 

  1.  %25 down payment will be met by the buyer
  2. Bank loan will be upto %75 of the sale price of the property
  3. Security: 1st Legal charge over purchaed property
  4. min 1 Personal guarantor for overseas borrowers (can be a foreigner)
  5. Overseas Borrowers to produce documents evidencing permanent overseas adresses. (i.e Bank Statement, electricity / gas bills etc)
  6. Currency GBP
  7. Interest rate : 7%
  8. Loan term : 10 Years but can be extended to 15 years in some cases
  9. Arrangement fee : %2 + 0.5% stamp duty
  10. 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.
  11. House insurance will be done by the Bank


CAUTION STATEMENT

These particulars do not constitute any part of an offer or contract. None of the statements contained in these particulars are to be relied on as representations of fact. Any intending purchaser should satisfy themselves by inspection or otherwise as to the correctness of the statements contained in these particulars. Busy Bees Estate Agents nor any person in their employment or representing them, has any authority to make or give any representation or warranty whatsoever in relation to this property or transact Busy Bees Estate Agents Ltd are licenced to trade in estate agency and real estate within the TRNC. Government Register No. 066