Principal International have just received the latest construction photos on the Buccament Bay Beach Resort in Saint Vincent and the Grenadines which can be viewed below.These show the ongoing construction of the Apartment blocks as this development progresses towards completion in 2010
AHETA, the Algarve’s regional hotel and resorts association, has reported that the Algarve has seen a drop in hotel occupancy to the tune of 3% below 2007 figures. With a lack of visitors, especially from the UK, not meeting the expected bumper year figures, this summer has been one of the worst on record.
The AHETA President, Eliderico Viegas, said that the region’s tourism industry wasn’t expecting this decrease in tourist demand, adding that most hotel operators were forced to cut prices in August, but even so found themselves far below the typical August visitor numbers.
The Algarve’s many restaurants, bars and nightclubs have also been hit by the reduced number of tourists, with AHETA stating that the weak British pound and the lure of cheaper destinations such as Turkey, Egypt and the Caribbean enticed the UK holiday makers away.
UK holiday makers account for 37% of the Algarve’s summer trade.
With this news in mind, Principal International have expanded their offering of investment properties to include the areas of increasing tourist numbers, such as Turkey, Egypt and the Caribbean. Where greater returns can be seen in rental income and capital growth in the aforementioned countries.
So to take advantage of the current investment climate, contact Principal International to discuss the many options available to you.
The Two Rivers Beach Resort in The Dominican Republic is destined to become one of the most prestigious 5 Star resorts on the Amber Coast. Following on from our Investment Alert on 9th October 2007, confirming that prices were due to rise on 13th October, we are delighted to announce that the entire development is now virtually sold out.
As we write all apartments are now sold and there are only 14 of the 108 villas available. Having launched the development in May at pre-release prices we have been staggered by the level of interest in this resort. It is almost unprecedented that a development of this size should sell out in such a short space of time.
With 100% finance available and INSTANT EQUITY in the region of 20% (dependent on unit purchased) this is likely to prove an excellent Buy to Let investment for those fortunate enough to have secured a property.
All properties have a two-year rental guarantee of 10% of the original purchase price, payable from completion.
After this time investors will receive 50% net of the rental ongoing. This is calculated by the management company based on overall occupancy of the property type within the resort and the rental price of each property.
In addition, owners will also benefit from 30 days FREE personal use of their property per annum.
The facilities offered include:
All properties meet the high standards and building specifications that you would expect from a 5 star development. The development will be managed and maintained to the highest standards by an independent resort management company with an excellent reputation and proven track record for managing the maintenance and rentals of similar 5 star resorts.
For those of you who may have missed out on this opportunity Principal International is currently undertaking due diligence on a number of other future developments in the Caribbean.
Just announced a new 5 star development for sale in the fantastic Caribbean island of the Dominican Republic.
Popular with many British and American travellers, the rental opportunities here are huge, added to that prices are expected to be between 25- 50% below market price for off plan purchases and plots can be reserved with as little as £1000. Studio apartments start at £75,000 and luxury Thai and Bali style villas, some with private pools, are available from as little as £295,000.
Named Two Rivers, the unique design has been based upon a Polynesian theme and the resort itself will be managed by a world renowned spa and resort company which is expected to be announced in the coming months, prices are expected to rise sharply so investors are urged to act quickly as this offer will not be available for long.
As well as 100% funding being available, Principal International is offering a 2 year 10% rent guarantee and a 5 year room rate share option. A spokesperson for Principal International says that this is a fantastic opportunity to acquire a luxury Caribbean property with a minimal reservation fee and a much reduced off plan discount.
You can view further details of the Two Rivers development from the link.
A recent article published by the Independent suggested that buying property in the Caribbean was becoming a favourite with investors as more and more of us are looking further a field for investment property.
The Caribbean is becoming more expensive with Islands such as Barbados and Dominican Republic stealing the limelight and prices here rising steadily year on year. There is no doubt amongst the investment community that the luxury end of the market is what were looking for as this gives us the best returns as the population slowly becomes more wealthy.
However there is a jewel in the crown so to speak, the island of St Vincent, situated 100 miles west of Barbados, between St Lucia to the north and Grenada to the south. Its landscape depicts the ultimate in lush rainforest rolling mountains and golden sands. One major 5 star development is emerging which is proving to be a glorious investment.
The new major airport serving its developing tourism is due to open in 2011 to coincide with the launch of this fantastic luxury development of beachfront villas, 5 star apartments and waterfront cabanas. Added to this will be the ultimate in spa luxury provided by the hotel complex which it has been announced will be managed by the multinational group; Oasis Hotels.
Many of the properties have already been sold but the remaining ones are still offered with a low reservation deposit, 2 year rent guarantee and a room rate share option.
Prices in St Vincent are rising but not in comparison with neighbouring islands and there are still a few opportunities to buy at off-plan prices. The island is far less developed and it is anticipated that restrictions will be placed on future large scale developments so this really is a one off opportunity to buy here. The standard of living is still very cheap and much emphasis is put on local trade keeping the prices down.
Now is definitely the time to buy in St Vincent.
With the much talked about credit crunch continuing to dominate the news investors may wonder if buying property overseas is still the best option. There is no doubt that the days of 90% mortgages are behind us for now and some banks are indeed cutting back on lending for overseas purchases, but this doesn’t deter from the pure capital growth on your investment that we still are seeing in the Caribbean markets.
Barbados is one such country and has remained largely unaffected despite its currency being linked to the USA markets. Barbados is playing a leading role in the Caribbean and is proving to be a valuable investment going forward. Second home ownership here is proving more and more popular especially among the rich and famous. Indeed there are plans afoot by the local government to further increase foreign ownership to help boost the economy and tourism of the country whilst maintaining the beauty and landscaping of its coastline.
Capital growth of property in Barbados has consistently risen over the last 10 years making it one of the few locations in the World where any financial crises seems to bypass it.
Local demand for rental property is often higher than the UK and Europe as there is not the competitive buy to let landlord markets seen elsewhere. Buying property in Barbados to rent seems to be a captive market and because of the restrictions on future building land is at a premium and therefore the opportunities are limited. This in itself makes for a unique market and one which is thriving for those wishing to invest here.
Once the credit crunch becomes old news and the banks start competing for business again, lending will return to competitive rates and the borrowing markets will dominate once more.
Further to the news release last week regarding the announcement of the hotel operator for Buccament Bay in St. Vincent and Two Rivers in the Dominican Republic, we have just received the below further information from the Developer.
| Dear InvestorWe are delighted to announce that on Friday 4th April we have signed an agreement with world class hotel company OASIS HOTELS & RESORTS to manage the Buccament Bay Beach Resort in St Vincent & The Grenadines and the Two Rivers Beach Resort in the Dominican Republic. By signing with Oasis Hotels & Resorts, we have affiliated ourselves with a major player in the tourism industry worldwide. With its airline, hotels, travel agents and tour operators the Globalia Corporation offers us the advantages of a global network to ensure that our resorts will have maximum occupancy and accessibility via its airline and affiliations.As a result of this announcement the value of the Buccament Bay Beach Resort and the Two Rivers Beach Resort will soar, so we will increase the prices of all properties in these resorts from late May 2008. At the beginning of May the new brochure for the Buccament Bay Beach Resort will be available. The brochure has been designed to illustrate how stunning and well-equipped the resort will be.
Buccament Bay Beach Resort - Revised Completion Date: Summer 2010 The build at Buccament Bay is progressing well - 60% of the accommodation is built, the beach has been covered with white sand imported from British Guyana and the landscaping and planting of the beach front accommodation is well underway. However after discussions with Oasis Hotels & Resorts we will be opening the resort as a whole rather than in phases and we have delayed the opening date in order to ensure maximum benefit from advertising the resort to ensure high occupancy. Two Rivers Beach Resort - Revised Completion Date: Summer 2011 We are pleased to say that we have already sold over 90% of the properties at the Two Rivers Beach Resort. Being our first major development in the Dominican Republic we are impressed by the huge interest in the Dominican Republic as a holiday destination. The planning process for the resort is progressing well and from our regular meetings with officials from the Government we are expecting to start the first phase of the build in the very near future. The on site sales & marketing suite will be completed soon and will be staffed 7 days a week so there will be someone available to welcome visitors and show them around the site. OTHER UPDATES: The Merricks Beach Resort - Estimated Completion Date: Christmas 2012 We met with senior Government officials last week and hope to have planning permission granted to start the build of The Merricks very soon. The new Prime Minister, David Thompson, in power since January 2008, has expressed his support of the new build of 5 star luxury hotels in Barbados as there is a shortage of this level of accommodation on the island. The onsite sales & marketing suite will be completed by the end of 2008. |
Simon Ryeland, Managing Director of Principal International, comments,
“We understand the frustrations with the delay in progress of this resort but investors can rest assured that this is still one of the best investment opportunities in the Caribbean, particularly in consideration that there is now a greater need for a new 5 star hotel than two years ago.
Having given the matter some thought, we felt it was most appropriate to simply ‘cut and paste’ the content of their notification to us, so that you can see precisely what they have communicated to their agent network.
Whilst, as investors ourselves, we can understand clients possibly being disappointed about the delays that will be experienced in completing these projects, we always recognised it would be inevitable that the appointed hotel operator would want to have an immediate close look at the projects and have some form of input into the building project timing and handover dates. For all of us as investors, it is vital that the launch of each development is as successful as possible, as it will set the scene for the reputation that resort earns and therefore the level of occupancy it enjoys over the medium to long term; as we all know, increased occupancy equates to increased investment yield.
For those clients who have purchased property in these projects, there will be some increased interest costs from stage payments and also, if applicable, from the use of the 100% finance option; however, the delay in completion will have the benefit of allowing the capital value of your property to appreciate further. This appreciation will, in turn allow you to, if you so choose, release more equity from the 70% Loan to Value mortgage you take at completion.
Please feel free to call either myself or one of my team (on 0800 038 0000 / +44 1483 748629 / contact) if you want to discuss these projects or any other investment projects in more detail.”
As and when we receive any further news about the Caribbean developments, we will of course keep you fully posted.
Principal International are very pleased to be able to confirm that the developer has now signed contracts with the Spanish Group Globalia, who own the Oasis Hotels & Resorts brand (www.oasishotels.com), for both the Buccament Bay and Two Rivers projects in St. Vincent and the Dominican Republic respectively.
In their most recent published accounts, Globalia achieved a turnover of circa 3.5 billion Euros and, as an overall group, have all of the fundamental elements in place to be able to secure the occupancy levels and returns that the investors in the projects are anticipating. As a group, Globalia owns : -
Globalia is ideally placed to not just sell sufficient holidays to deliver the occupancy levels across both developments, but also to effect the logistics of getting guests to the various resorts.
Each of the resorts will retain its own brand image, so Buccament Bay will remain “Buccament Bay” and will build on the widespread awareness that already exists for these developments.
We understand from that, with effect from the 1st of May 2008, there will be a 20% price rise across both the Buccament Bay and Two Rivers resorts and a similar increase will be applied to the other resorts once the contracts have been signed over the coming months. These price rises will be in addition to the planned price rises in July and October.
Should you have any queries, please feel free to call either myself or one of the team to 0800 038 0000 (UK) or +44 1483 748629 (Overseas).
Principal International are delighted to be able to offer to the UK investment market an excellent new investment property product with guaranteed returns over a short, fixed term. Through one of our trusted, specialist investment developers we are able to provide property investors with the opportunity to achieve a guaranteed return of 12.5% return each year for a two year fixed contract term.
Simply invest a minimum of £50,000 for a fixed twenty four month period and receive £62,500 back – guaranteed! Derick Ivimy, director of Principal International, comments: “This is an excellent way to invest in property over the short term and know that you are going to achieve a truly excellent rate of return. This product turns the usual property investment wisdom on its head. No longer does property investment have to be medium to long term to ensure good results.” He continues: “With returns this high and guaranteed it pays to borrow just to invest.”
Although the minimum investment sum in to this scheme is £50,000 there is no maximum investment figure. You will enter into a UK based contract which guarantees to return your investment sum plus twenty five percent on the second anniversary of contract date. There is no limit to the amount of contracts you sign so that you can spread your investments over a period of months to get returns back over a staggered period to ensure that you have more flexibility and are therefore not tying your total lump sum investment in at the same time over the same period.
It also allows you to invest on a continued basis as and when other investment products you may hold reach maturity. Subject to the terms and conditions of your Self Invested Pension Plan provider you should also be able to use funds from your Self Invested Pension Plan to invest in this excellent new product. Principal International offer a full range of innovative property investment products through the same UK based developer.
For more information contact Principal International on 0800 038 0000
The Dominican Republic is one of the few places in the Caribbean where investors can buy affordable luxury property with a guaranteed rental income, a low initial reservation fee, guaranteed 100% funding subject to status, and 30 days free use within a luxury 5 star resort.
Principal International, one of the UK’s leading overseas property experts is able to offer the affordable right through to the ultimate. Two Rivers Beach Resort and Spa on the Amber Coast of the Dominican Republic is tucked away amidst lush vegetation in a secluded bay overlooking the clear blue waters of the Caribbean. For those investors with more money to spend, the Island Sanctuary offers the ultimate in 5 star luxury villas hidden away in their own secluded grounds, designed and built to the highest specification.
The Dominican Republic has a rich history founded by early European settlers to the Americas; as a result the Island has become a favoured tourist destination. There is an ever increasing number of visitors every year from around the globe, attracted by its three mountain ranges, palm tree lined beaches, spectacular rivers, stunning waterfalls and exotic wildlife.
Simon Ryeland, director of Principal International says “we are very excited about the opportunities in the Dominican Republic, the properties prices here are very reasonable compared to other parts of the Caribbean and our investors are keen to buy off plan to obtain the discounts the developer is offering. The numbers of visitors to the Dominican Republic are rising year on year and there is no doubt that this unique resort opportunity will provide a profitable investment.”
With property prices on the Island rising by at least 30 % over the last 5 years, buying off plan and sooner rather than later is where the profit can be made. The Island covers approximately 48,000 square kilometres and with much of its allowable beachfront resort locations already developed, land will eventually only become available at a premium and opportunities may become limited.
Principal International, one of the UK’s leading overseas property investment companies, is offering a fantastic deal for investors looking to buy property in the Caribbean. Two Rivers in the Dominican Republic is a first class luxury five star development opportunity set in idyllic surroundings.
With lush mountain ranges and vast stretches of golden sandy beaches Dominican Republic is expected to receive in excess of 4 million tourists this year. Once thought of as the cheaper end of the Caribbean, Dominican Republic is now no stranger to guests expecting the five star treatment. With many of its visitors coming from the United States and the UK, Two Rivers will definitely not disappoint them.
As a developing country it is heavily reliant on tourism to support its economy, the government there is fully supportive of the ongoing improvements to it`s infrastructure to ensure that tourism numbers keep rising.
In association with a leading Caribbean developer Principal International have a small number of luxury apartments and villas which have been released for sale but are selling out fast. Excellent finance packages are available subject to status and interested parties should call Gary Clayton on 0800 038 0000 to find out more information or register their details on the website https://www.principalinternational.co.uk/.
“These really are outstanding deals” quotes Gary Clayton, “the development is nearly sold already and buyers are keen to buy more than one before prices are expected to rise in the coming months. We sell a number of luxury properties throughout the Caribbean but this is proving to be by far one of the most popular.”
With a population of only 9 million and being one of the largest islands in the Caribbean, Dominican Republic is reputed to be one of the friendliest and welcoming islands. It remains a popular favourite with American tourists and has a close relationship with the American Government, it being an outspoken supporter of the countries democratic and economic development.
Occupancy rates in the Dominican Republic are reported as being in excess of 85% in 2007; this is welcome news for investors that have taken the plunge already and far exceeds that of some of its neighbouring islands. Principal International say buy now before the prices rise.
Raithwaite Hall, UK Hotel Investment Update
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