East Coast Residence Apartments, Bogaz, Famagusta

Property Type

Apartment

Bedrooms

Three

Location

Bogaz

Area

Famagusta

Ownership

TRNC Freehold

Pools

14 Communal

Double Glazing

Included

Air-Conditioning

Included

Price

£54,950

 Description

5% fixed rate mortgage over 20 years     6% guaranteed rental income scheme     No vat or stamp duty to pay until end of mortgage term   

This is an exciting investment opportunity in the popular East Coast area of Cyprus. The East Coast Residence development is situated between Famagusta and the picturesque fishing village of Bogaz and is surrounded beautiful beaches and protected forestry land. Onsite facilities include seven full size swimming pools and seven children’s pools, shops, bars, a hairdressers, tennis courts and a gymnasium. The local sandy beaches are less than five minutes walk.

Choose from stage payments or a developer mortgage fixed at 5% over a twenty year term. The non-status mortgage is offered for 70% of the property value and can be settled early without penalty, you are free to re-sell the property at any time.

These spacious three bedroom freehold properties represent excellent value for money with capital growth estimated to be up to 50% within the next three years, in addition to this the developer is offering a guaranteed rental income of 6% per annum for three years. The properties consist of an open plan living are comprising lounge, kitchen and dining area, there are three well proportioned bedrooms with fitted wardrobes, a family bathroom, an en-suite bathroom to the master bedroom and private garden patios or terraces. Included as standard in the price is private BBQ, a fully fitted kitchen with appliances, ceramic flooring, air-conditioning, double glazing and a traditional Cypriot fireplace in the lounge.

Ercan airport is only thirty minutes drive, and Larnaca airport forty five minutes.
 

Specifications

Mortgage Details

Open to all TRNC and foreign Nationalities

Developer funded, non-status (no credit check necessary)

Up to 70% of property value (LTV)

Up to 20 years fixed term

Fixed rate 5% mortgage

No penalty for early settlement

No additional security required (not secured against your UK property)

No restrictions on the number of properties purchased

You are free to re-sell the property at any time (via the assignable contract)

Finance illustration

All monthly mortgage, insurance and management payments commence only on completion which is 24 months from the contract date. The buildings insurance is mandatory and the site management fees cover the maintenance of the communal pools, landscaped gardens and 24 hour site security. VAT (KDV), stamp duty and other government taxes are payable only on completion of the mortgage term.

Staged payment plan

£16,485.00 - Deposit - on the date of signing the contract

£6,500.00 - 4 months after the date of signing the contract

£6,500.00 - 8 months after the date of signing the contract

£6,500.00 - 12 months after the date of signing the contract

£6,500.00 - 16 months after the date of signing the contract

£6,500.00 - 20 months after the date of signing the contract

£5,965.00 - 24 months on completion

Images

 

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These particulars are believed to be correct but their accuracy is not guaranteed, they do not constitute an offer or contract. Intending purchasers should not rely on them as statements of representation of fact and must satisfy themselves by inspection or otherwise as to their accuracy. No person in the employ of this company has the authority grant any representation or warranty in respect of the property. View our full legal statement here.