Financial details
Pricing
The cost of a unit is broken down into the property itself (we will call this the Bare Unit) and then the cost of the fit out and the furniture (we will call this the Fit Out). The prices are broken down in this way to minimize the amount of VAT buyers have to pay (VAT is only payable on the bare unit, not the fit out)
Studios range 28m2 to 32m2 and cost from circa £33,000
(bare unit and fit out)
1 beds range from 44m2 to 62m2 and cost from circa £49,000 (bare
unit and fit out)
2 beds range from 74m2 to 76m2 and cost from circa £84,000 (bare
unit and fit out)
3 beds are 106m2 and cost from circa £118,200 (bare unit and fit
out)
Case study for a 30m2 studio - total price £33,000
Bare Unit price
The price of the Bare Unit per m2 is 75,888 pesos which is approx £900.00
So, as an example, a studio of 30m2 would cost approx £27,000
Fit Out price
The price of the Fit Out per m2 is 18,000 pesos which is approx £200.00
So, as an example, the studio of 30m2 would cost approx £6,000 to
fit out.
Total price
Bare Unit £27,000 + Fit Out £6,000 = £ 33,000
Payment Schedule
for the Bare Unit
1. $2000.00 deposit to reserve a unit
2. 30% due after a 30 day due diligence period - contracts are signed at
this point
3. 70% balance can be paid in 72 equal monthly installments, on an interest
free credit basis*
*This in-house finance offer is non status and open to foreign buyers as well and Filipino nationals, the first monthly payment starts 30 days after the contracts are signed
for the Fit Out
1. There is nothing to pay for the first 3 years
2. The total cost of the Fit Out is payable in 12 equal monthly installments
in year 4
3. There is nothing to pay in years 5 and 6
Rental
Owners have the option to lease their apartments back to the management company and join the rental pool. The projected income for the first year is circa 8% and is expected to rise as occupancy rises and rack rates are gradually increased.
|