Las Canas, Dominican Republic

Las Canas summary

Luxury Studios & Apartments overlooking the beach on the Magnificent Amber Coast of the Dominican Republic.

• £1,000 reservation fee, nothing else to pay until completion
• 100% finance* available
• 70% guaranteed mortgage from completion
• Two year 10% rental guarantee
• Followed by 50% net room rate share
• 30 days free use per year

Total investment property package

Entrance Strategy for Investors

• Exclusive developer funded deposit scheme
• Developer pays for the cost of borrowing the 30% deposit
• Reservation fee only £1000.00
• Reservation to Exchange only 45 days
• Free deposit raising assistance provided

Management Strategy on Completion

• Fully managed & maintained by 5* hotel company
• 2 year 10% guaranteed rental, followd by 5 years room rate share
• Fully furnished property
• 30 days personal use per year
• Ongoing support from Ward & Co

Exit Strategy

• Sell your property with a documented, accounted and viable income stream
• Retain your property and benefit from the ongoing rental returns and continued capital growth

The property

There are several different property types available for you to choose from.

• Studio Apartments
• One Bedroom Apartment
• Two Bedroom Apartment
• Two Bedroom Apartment with wrap-around balcony
• One Bedroom Semi Detached Cabana
• One Bedroom Deluxe Semi Detached Cabana
• Two Bedroom Semi Detached Cabana
• Two Bedroom Plantation House
• Three Bedroom Plantation House
• Four Bedroom Plantation House
• Waters Edge Two Bedroom Apartment with Jacuzzi
• Waters Edge Three Bedroom Penthouse Suite
• Island Sanctuary One Bedroom Spa Villa
• Island Sanctuary Two Bedroom Spa Villa

All property types come with a full luxury furniture pack which is in keeping with the style of the island, resort and the luxury nature of the resort. The content and specification will be confirmed closer to the opening of the resort.

The development

We are proud to introduce a five star resort development on the beautiful Island of the Dominican Republic. Set amongst land directly on the beach, all units will be built within the lush, tropical landscape surrounded by hundreds of palm trees. This site is, without question, a stunning location. Studios, apartments, detached and semi detached villas to luxury private Spa villas; all available at off plan prices. The Las Canas resort offers the astute investor a chance to reap the benefits of potentially high rental yields

Property in the Dominican Republic is very reasonably priced and proving popular with buyers for various reasons. Some look to purchase a piece of paradise for their retirement years and with Dominican Republic property prices more favourable than almost all other similar destinations it is an obvious first choice. With prices so competitive and the perpetual increase in the areas popularity with tourists, investors see property in the Dominican Republic as a safe investment with prices only set to rise and rental potential drastically increasing inline with its popularity

The region

The Dominican Republic occupies the Eastern two-thirds of the island Hispaniola and is situated between the Caribbean Sea and the North Atlantic Ocean, bordering east Haiti. The capital Santo Domingo is the New World’s oldest capital and contains many colonial buildings which have been carefully restored to retain their original charm. There are many fine examples of 16th century Spanish architecture and many fascinating structures that have survived for over 500 years.

The Amber Coast, along the northern coast of the island, is named for the rich deposits of amber, found in the hills near the 75 mile stretch of beautiful beaches east of Puerto Plata. The white sandy beaches, impressive mountain ranges, spectacular rivers, waterfalls and exotic wildlife are just the beginning of the Dominican Republic’s exotic beauty. Puerto Plata is the largest city of the Northern region and a tourism Mecca of the Dominican Republic. It’s a popular destination for tourists who are seeking a relaxing, affordable holiday with the option of a lot of places to visit in the vicinity. 3 miles west of Puerto Plata in Corfresi, is a new full service marina which opened in January 2007; the marina is adjacent to Ocean World Adventure Park, the newest and largest marine park attraction in the Caribbean.

Puerto Plata is known for its glimmering beaches and entertaining resorts. However, straying away from the water for a day can yield a breathtaking experience. Blanketed in tropical flora, the 2,600 foot high Mount Isabel de Torres offers a splendorous adventure. To reach the peak you can drive, hike or take the scenic Teleferico (cable car). At the top of the mountain are lush botanical gardens, a souvenir shop, café and a 52 foot statue of an open armed Cristo Redentor overlooking Puerto Plata and surrounding area. Along with some of the most splendid views of the Puerto Plata bay. The mountain is one of four protected scientific reserves in the country and home to the highest altitude botanical gardens in the Caribbean.

Investor data

Payment Plan - Example

• Day 1 - £1,000 reservation fee
• Day 45 - £32,000 balance of 30% deposit
• Developer will pay monthly payments on your UK deposit loan until completion

Build Payment Plan

Stage payments of approx 7% paid on your behalf

• Total Balance Due Upon Completion
• £77,000 – balance of contract price due
• £8,960 – deposit loan repayments made by the developer
• £7,700 – construction stage payment interest
• TOTAL £93,660

What you will need to pay back in total

• £93,660 completion balance due (see above)
• £32,000 UK based loan
• £1,000 reservation fee
• Total £126,660

Capital sum

At this point you now own a property that is worth £192,500 but only has a mortgage of £134,750 so you will have equity or a capital sum of £57,750 plus cashback of £8,090.

Annual Income

We shall use an average nightly room rate for this class of accommodation of just £300 per night and apply an occupancy level of just 70%. (Currently across the Caribbean , the average occupancy level for a 5-star Spa Resort is around 85% and the average room rates are closer to £500 per night).

Regardless of the above, during the first two years you will receive a guaranteed 10% of your initial purchase price as an annual return. Following the first two years you will receive a 50% share in the room rate achieved by the resort operator. The income will be distributed via a rental pool to ensure fair average income across the year to all similar property owners and is paid quarterly in arrears.