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Key Features
* Luxury resort set in lush gardens in an enviable location on this unspoilt Caribbean Island bordering the Royal St. Kitts Golf Course
* 70 LTV mortgages are available to non-resident buyers meaning a cash investment of ~£46k + purchase costs
* Cash-flow positive with yields expected to achieve between 8-11
* Economic Citizenship is available to those purchasing a property worth 350k or more in a government approved development St. Kitts FDI rose 83 in 2005
* Tourism demand on the island set to grow by 6.2 annually for next 7 years—one of the highest predicted growth rates in the whole Caribbean
* No income tax, capital gains tax on property owned for 12 months, wealth tax or inheritance tax
* Run by the No. 1 Management company on St Kitts
* Prices to increase by 10 on 31st March 2008
Description
Home to lush tropical vegetation and stunning beaches, St. Kitts’s history is as a British colony with a wealthy sugar industry. The country’s economy has since diversified and has reported consistent GDP growth and increases in FDI of 103m in 2005. The government are committed to the development of tourism and have welcomed the influx of development in travel accommodation and tourist facilities, including the 17 million Beaumont Racetrack, the 16 million Marine World and the 12 million redevelopment of Warner Park Cricket Stadium. The Kittitian government offer an Economic Citizenship programme to investors that gives full citizenship rights. St Kitts is also a tax haven with no income, capital gains on property owned for 12 month or more, wealth or inheritance tax
Location
St. Kitts & Nevis are located in the eastern Caribbean, 19 degrees north of the equator and separated by a channel two miles wide. Average temperature is 79F, humidity is low, and constant northeast trade winds keep the islands cool. The Islands are linked by direct flights from New York, Miami, London and Canada.
Silver Reef is a beautifully designed resort in a superb location on the unspoilt Caribbean island of St. Kitts. Just ten minutes’ drive from the island’s capital, Basseterre, and just over 2 miles from the airport, the resort is spread over 4.7 acres of gently sloping hillside amidst lush gardens on the edge of the Royal St. Kitts Golf Course. Its stunning position on a natural rise gives spectacular views of both the Caribbean Sea and the Atlantic Ocean. The picture perfect Frigate Bay boasts one of the finest beaches on the island and its coral powder sands and clear waters are less than a fiveminute walk down a pathway from Silver Reef. The beach offers safe swimming, plenty of water sports and a variety of beachfront bars.
The Properties
This select development will offer just 62 villas and apartments set in lush tropical landscaped gardens with free form and lap pools. The resort will be run by the No.1 Management company on St. Kitts and will offer full rental pool administration for only a 15 cost with predicted net yields of 8-11. Our forecasting suggests annual appreciation levels averaging 15 and 70 LTV mortgages are available to foreign purchasers. With apartments available from ~£152,000 investors can purchase their property with just £46,000 cash plus legal costs.
Payment Schedule
* US6,000 non-refundable holding deposit upon signing reservation agreement
* 30 instalment (less holding deposit) required within 30 days of receiving SPA (and signing of SPA)
* 70 of total purchase price payable on completion of the building (est. Dec 2009)
What's on Offer?
* 1 bed apartments from ~ £152,000
* 2 bed apartments from ~ £219,000
* 2 bed villas from ~ £362,000 |
