Residencial Dunas Golf Oliva

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It is worth taking into consideration that there are no similar developments within the Costa Blanca and as such this offers a unique opportunity within a limited sales time frame.

The average price of a golf apartment in Oliva Nova Golf is 290.000 euros. This is really only for one of the most basic properties. Even now these properties are growing at an equity rate of 20% on completion.

 1. From the existing package (April 2005) much has been altered. The prices of the development are now not comparable to the original price list. This is due to the following –

a) The size of each individual property has increased, in some cases, by as much as 70sqm.

b) The facilities included in the complex have been upgraded to include a 750.000 euro outdoor communal swimming pool, an indoor covered winter swimming pool, gymnasium, tennis courts and extra communal gardens.

2. The original finance package is now not on offer ( due to central bank intervention to prevent bank borrowing for deposits) but has been replaced by the following –

a) A 4500 euros reservation fee is required to reserve the property in the first instance. The client and developer shall sign a sales contract at which point the client will send 15% plus IVA (VAT) to the developers account within two weeks.

b) A further 10% is to be paid over a 15month period (ie 2% quarterly).

c)  The benefit of paying 10% through the construction period is that there is no interest to be paid to a lender on this sum of investment. This will give clear capital appreciation.

d) By the time of completion the client shall have paid 25% of the total balance plus IVA at 7%

e) The client will be offered a mortgage, subject to status, of 80% loan to value. We anticipate significant equitable growth through the 18 month construction period and 80% of any valuation at completion should exceed the property purchase price.

It is worth noting that as from the 1st January 2006 banks will now only lend a maximum of 100% of the purchase price, not the valuation.       

It is also worth taking into consideration that the construction of the development was due to commence in August 2005. Already a significant level of equitable growth has taken place and given the client a considerable head start.

As construction continues in and around the northern region of the Costa Blanca the demand for accommodation has risen. Conversely the appointment and construction of hotels has diminished and as such there is a dearth of accommodation within the coastal areas.

Several large tour operators have now started to address this situation and are currently looking for suitable complexes and development that can house significant numbers of holiday makers.  

Residencial Dunas Golf Oliva has been earmarked by several operators as the ideal opportunity to add the development to their international portfolio. One particular operator wishes to offer a minimum of 150 rental contracts, however, the developer has advised that all clients should delay the purchase of a rental contract until the development has been completed.

The reason for this is a straight forward issue of economics. Currently it is possible to purchase a rental contract at 3.5% of the purchase price.

The operator will pay 5% per year for a maximum of 9 years. This sounds fantastic but if you take into consideration this is only based on today’s sales price.

In reality the property will be valued at a minimum of 15% more on the day of completion. This means that the client will achieve a rental yield based on the correct market price of the property as opposed to the discounted price offered on off plan sales.

We have negotiated a fantastic offer of a 100% discount on the normal price of arranging the rental contract. Your rental contract will be totally free!!

In addition, if in the unlikely event there is a problem with the offering of a rental contract, due to unforeseen circumstances, we have negotiated compensation of 10,000€ from the developer.. This is clearly stated in the sales contract.

Negotiations for the issue of a rent guarantee via the constructor will commence six months prior to completion of the construction. Clients will be informed of the conditions of the rental prior to completion. 

For a capital investment of an initial 15% and a further 10% over an 18 month construction period the investor will achieve the following –

a) significant equitable growth through the construction period of 20%

b) a continued equitable growth of approx 5-7%per annum after construction.

c) an anticipated rental contract which will yield 5% of the property valuation at completion per year guaranteed.

d) in the event of an unsatisfactory rental offer the guaranteed compensation of 10.000 euros

e) the opportunity to borrow mortgage funds at rate of 3.2-3.5% over a 30 year period.

f) as you can see from the overhead photographs the location in terms of beach and golf is second to none. This is the true benefit of purchasing Resindencial Dunas Golf Oliva.

Call or email us to request even more information.

Alternatively, we have recently introduced another option - text 'Oliva' to 07711 807 232 and WE will call you.