Buy a beach apartment for £45,000 and in 10 years own a beautiful £145,000 villa for free!
Global property specialists, Worldwide Investments, are offering buyers the chance to invest in a "slice of Caribbean paradise" which comes in the form of the Villa Del Mar development situated in the Samana Bay area of the Dominican Republic.
The company has managed to negotiate a special deal for its clients, and secured twelve, fully-furnished, studio apartments for just £45,000 each. This is £15,000 below the list price, giving the buyer 25% instant equity.
"This really is an incredible investment opportunity since it enables buyers to pay emerging market prices for an established tourist hotspot. They can purchase an investment apartment in Villa Del Mar for just £45,000 and in ten years' time they will own a beautiful £145,000 villa," explains Luke Whitehouse of Worldwide Investments.
"This level of return on investment is possible because the apartment will be rented out by the resort management company (established for more than 25 years), which keeps the rental income, then after ten years, the villa is given to the apartment owner with all of the associated capital growth."
"If people would rather receive an income from their apartment they can receive an 8% guaranteed rental return for the first two years, whilst the resort is established. After the two years they will receive a 50/50 split of the rental returns generated by the management company."
The government has put a hold on new building permits in the Samana Bay area, which Mr. Whitehouse believes will be of considerable benefit to anyone choosing to invest in Villa Del Mar.
"We believe this will result in strong capital growth because it means that this sought-after area won't become over-supplied with property," he comments.
"It's also worth noting that the impact of the world economy on the Dominican Republic has been softened due to the desirability of this area and the fact that living costs are so economical. People can go to the Dominican and spend a lot less money than they would do in other Caribbean destinations and, in hard economic times, this is very appealing."
The low cost of living makes the Dominican Republic a popular retirement destination for ageing US and European populations. Indeed, retirees are actively encouraged into the country with the Special Incentives Law 171-07 for Pensioners and Retirees of a foreign source being passed in the Dominican Republic in July 2007.
"Many American and European retirees are flocking to the Dominican, and owning a home in the Villa Del Mar development offers investors the opportunity to capitalise financially on this influx of retirees looking to rent and purchase property. It also gives buyers the chance to secure an option for their own retirement," explains Mr. Whitehouse.
"Anyone choosing to retire to this beautiful country is able to enjoy some fantastic benefits, including tax exemption on real estate transfers and on all household and personal property brought into the country, including personal vehicles; a 50% waiver on property tax; and exemption of taxes charged to the payment of dividends and interest generated in the Dominican Republic or abroad."
As well as being a popular choice with retirees, the Dominican Republic is also a destination chosen by many tourists and holidaymakers, indeed in 2006, the World Tourism Organisation awarded the country the title of "Caribbean's Number One Destination" – a title which was owned by Puerto Rico for the previous forty years. In the same year, tourist arrivals increased by 16%, with 4.4 million visitors choosing the Dominican Republic as their top vacation spot.
The Dominican Republic is also a favourite golfing destination for former US Presidents and has become one of the hottest spots to tee-off in the Caribbean.
"Keen golfers will find 19 courses with oceanfront fairways and coconut palms. They'll also find courses designed by legends such as Pete Dye, P.B. Dye, Jack Nicklaus, Arnold Palmer, Robert Trent Jones, Gary Player, Tom Fazio and Nick Faldo," says Mr. Whitehouse.
As well as being a haven for golf enthusiasts, the Dominican Republic offers a wide range of other activities, including snorkelling, windsurfing, kite-boarding, and boating. The country also boasts breathtaking landscapes, exotic cuisine, spectacular white sandy beaches, crystal clear waters, a lively night scene, souvenir shopping, and over two-dozen national parks which prove popular with hikers and bird watchers alike.
"Buying one of the luxury apartments in Villa Del Mar gives investors the chance to own their very own piece of paradise," adds Mr. Whitehouse.
"Some people say that the area where the development is situated - the Samana Peninsula, is the most beautiful place in the Caribbean. It's also worth pointing out that Villa Del Mar is located just 15 minutes from the new El Catey International Airport, with daily arrivals from Europe, Canada and the USA. The fact that the resort is so accessible is just another of the many advantages of this fantastic investment opportunity."
Click here to find out more or to enquire about the Villa Del Mar.
Information courtesy of Worldwide Investments
© PropertyIndex.com 2009 | Last Updated: 29 January 2009
