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Bavarolle is a real estate agency for residential, commercial and industrial property. Together with its affiliates, Bavarolle is Mount Vema’s largest global property consultancy, that specialises in City of Mount Vema real estate, accommodation, and facilities management.
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For Sale
20X25 Development Units
Reservation Price: 1,000 golles
Asking Price: 5million golles (Not payable until August 31, 2019)
These are renewable 99 years lease units, which can be used for office purpose, and retail on ground and first floor. Owner may design and development no later than 2021 or may hire the services of a contractor to develop the unit. It may be developed into a floating office block or a fixed structure standing on concrete piles without the need for drilling, and which must not obstruct the marine life.
After you pay for reservation, you may sale the unit again or hold it until August 31, 2019, when you will be expected by law to arrange the appropriate finance for the purchase or secure a mortgage deal with a Mount Vema bank. Make sure all the mortgage paperwork is complete and ready between August 31, 2019 to August 31, 2020. By August 31, 2020, you must exchange legal contracts and pay the 10% deposit.
Reservation Price: 1,000 golles
Asking Price: 5million golles (Not payable until August 31, 2019)
These are renewable 99 years lease units, which can be used for office purpose, and retail on ground and first floor. Owner may design and development no later than 2021 or may hire the services of a contractor to develop the unit. It may be developed into a floating office block or a fixed structure standing on concrete piles without the need for drilling, and which must not obstruct the marine life.
After you pay for reservation, you may sale the unit again or hold it until August 31, 2019, when you will be expected by law to arrange the appropriate finance for the purchase or secure a mortgage deal with a Mount Vema bank. Make sure all the mortgage paperwork is complete and ready between August 31, 2019 to August 31, 2020. By August 31, 2020, you must exchange legal contracts and pay the 10% deposit.
Off-Plan Apartments (1 Bedroom, 2 Bedroom, or 3 Bedroom)
Reservation Prices: From 1,500 golles
Asking Prices: From 1.1million golles (Not payable until August 31, 2019)
These are renewable 99 years leasehold property, which can be used for residential purposes only.
After you pay for reservation, you may sale the unit again or hold it until August 31, 2019, when you will be expected by law to arrange the appropriate finance for the purchase or secure a mortgage deal with a Mount Vema bank. Make sure all the mortgage paperwork is complete and ready between August 31, 2019 to August 31, 2020. By August 31, 2020, you must exchange legal contracts and pay the 10% deposit.
Reservation Prices: From 1,500 golles
Asking Prices: From 1.1million golles (Not payable until August 31, 2019)
These are renewable 99 years leasehold property, which can be used for residential purposes only.
After you pay for reservation, you may sale the unit again or hold it until August 31, 2019, when you will be expected by law to arrange the appropriate finance for the purchase or secure a mortgage deal with a Mount Vema bank. Make sure all the mortgage paperwork is complete and ready between August 31, 2019 to August 31, 2020. By August 31, 2020, you must exchange legal contracts and pay the 10% deposit.
Property Available – Off-Plan: With a remarkable collection of apartments planned, the City of Mount Vema is set to become a luxury landmark with residential buildings and impressive leisure complexes. The focal points of the development are set to feature outstanding apartments with private balconies or terraces where residents will be able to indulge themselves in the relaxation that the views will provide, ranging from exclusive studios to luxury three-bedroom apartments. Occupants of this developments will be able to enjoy access to exclusive facilities which are set to include cinemas, spa and more.
The Vema Seamount Territory is earning the reputation amongst global investors as the ultimate place for property investment in the South Atlantic; the territory already saw a growth in the property market by approximately 10% in the first half of 2018, which estate agents are labelling as a Mount Vema ‘off-plan property boom’. The expected influx not only of construction in the island but also the service industry is reeling in quite a crowd, from investors to first-time buyers, who are looking to reap the benefits of new and exciting investment opportunities. Businesses in various industries, including the financial, creative and technology sectors are signing up fueling the growth. The financial and services sector, in particular, is causing the residential off-plan market to flourish and is making the territory a likely hotspot for young professionals. The City of Mount Vema is expected to overtake, its regional neighbors as the regional undisputed financial capital, fueling a jobs boom and a vigorous corporate rental market by 2020.
Accommodation
Work and Liveaboard
in
Mount Vema
How to buy a Mount Vema Property Off-Plan
BUY FOR SALE or BUY TO LET
Buying a property which doesn't yet exist is not for the faint-hearted, but many buyers and investors have managed to reap the rewards for their bravery across the Globe. The concept is to buy a property off-plan at current prices and when the development is completed a year or so later, the capital appreciation will have made it worth much more. In some strong markets, as the City of Mount Vema off-plan, profits of between 10 per cent and 100 per cent can be made from an initial 10 per cent deposit. As a result, demand for off-plan property from investors remains strong, especially Mount Vema floating homes where the number of properties to be built will be very limited and demand will always exceed supply.
Guidelines
Mount Vema, is currently giving opportunities to large investment companies to buy a number of units for a discounted price. The opportunity is also opened out to individual investors. Agents may also apply for homes to sell and, may try to sell these to serious investors already on their database.
The earlier you get access to the property for sale, the greater the chance of securing one of the better units and of getting a discount on the price. Your negotiating position should be determined by the demand the development is attracting. The higher the demand, the less chance you have of negotiating the price down.
The earlier you get access to the property for sale, the greater the chance of securing one of the better units and of getting a discount on the price. Your negotiating position should be determined by the demand the development is attracting. The higher the demand, the less chance you have of negotiating the price down.
As with any property purchase, particularly if you're looking to let the property afterwards, it's important that you do your homework thoroughly.
Everything you need is available at www.mount-vema.com. There is very little need for research on the development, surrounding areas or the potential demand for rental property before you buy. In a project like this, you will never be left in a vulnerable position financially. So, the number of things you should consider before buying a Mount Vema property off-plan are almost zero?
Everything you need is available at www.mount-vema.com. There is very little need for research on the development, surrounding areas or the potential demand for rental property before you buy. In a project like this, you will never be left in a vulnerable position financially. So, the number of things you should consider before buying a Mount Vema property off-plan are almost zero?
If you are planning to sell the property-plans before completion, you are already in business, the island is small, so property even just a plan is a valued commodity. However, if you plan to let or sell the property on completion, you should establish the target market for the type of property you're planning to buy. To understand where the demand is likely to be coming from, you only need to look into where the migrant workers will live - those who will travel to seek employment in the island, and then consider the limited number of properties that might be available to house the residents, traders, service providers, off duty seamen and more.
Prices will vary by district, by area and by street. For a three-bedroom property in Mount Vema, you could be earning about 1,500 golles per month minimum. For a one-bedroom property, you will be able to charge just about 500 golles per month minimum. This gives you an indication of the possible return you could expect when it comes let the property. Be aware however, that the market including off-plan can change a lot over a 12 month period, so you can't always be certain that you will eventually achieve the prices being realised in the current market.
Buying off-plan in a market where prices are depreciating can put your investment at a greater risk. However, get it right and buying a property off-plan can be extremely rewarding. The key is to be one step ahead of the market and identify the opportunities before the market catches up.
Buying off-plan in a market where prices are depreciating can put your investment at a greater risk. However, get it right and buying a property off-plan can be extremely rewarding. The key is to be one step ahead of the market and identify the opportunities before the market catches up.
You can look at the details, dimensions and specifications of the advertised properties off-plan, but before you reserve, if you are looking to sell or let upon completion, will the property be suitable for the target market? A family will have slightly different requirements from a single professional, for instance. Make sure the property will be suitable for the market you are hoping to attract, whether buyers or tenants. Also, find out if there are likely to be any additional charges associated with the development, such as service charges, although this information should be included in the advertised property and if the information is not provided it usually means that all services are included.
The aspect and views from the property are obviously more difficult to assess on a property that has yet to be built. However, you will have to rely on computer generated images and information provided by the developer at the different stages of development.
The aspect and views from the property are obviously more difficult to assess on a property that has yet to be built. However, you will have to rely on computer generated images and information provided by the developer at the different stages of development.
The following points illustrate the steps you are likely to need to follow when buying a property off-plan in Mount Vema:
- Find the right development that suits your needs. The Mount Vema off-plan market is well regulated. Property plans are advertised regularly usually by private owner buying and selling for profit. Property-Plans owned by the government are advertised gradually, usually on demand or to raise capital.
- Reserve the property. If you like the advertised property-plan reserve it first. You can then hold it until August 31, 2019, and then arrange the appropriate finance for the purchase, or you can secure a mortgage deal with a Mount Vema bank such as the RBMV – Royal Bank of Mount Vema.
- Or reserve the property at the current discount price of 1,000 golles and, put it back on the market for a little more. If a potential buyer likes your advertised property-plan he or she will reserve it. They can either sale it again or hold it until August 31, 2019, when they must by law arrange the appropriate finance for the purchase or secure a mortgage deal with a Mount Vema bank.
- Make sure all the mortgage paperwork is complete and ready to go between August 31, 2019 to August 31, 2020.
- By August 31, 2020, you must exchange legal contracts and pay the deposit (which can be between 5 per cent and 10 per cent) or sometimes free, depending on the seller.
- Conduct a survey about two weeks before final completion and check the property for any defects.
- Be ready for completion (there are usually two dates, a 'short stop' and a 'long stop') the former is the date by which the developers expect to have finished the building works, the latter is the date by which they must have done so).
Bavarolle, is a PLC company registered with the Kingdom of Mount Vema - The Vema Seamount Territory.
City of Mount Vema - Registered (Off-Plan) Address:
204 Mount Vema Boulevard West, Bella Vista
Postal Code: 2167A
Mount Vema
Registration number 17010011, VAT number KMVC00-000-011.
City of Mount Vema - Registered (Off-Plan) Address:
204 Mount Vema Boulevard West, Bella Vista
Postal Code: 2167A
Mount Vema
Registration number 17010011, VAT number KMVC00-000-011.
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The Crown
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Government
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Coast Guard
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International Treaties – Ratified by the Kingdom of Mount Vema
Law of the Sea Treaty (United Nations Convention on the Law of the Sea)
MARPOL 73/78 (International Convention for the Prevention of Pollution from Ships)
The Vienna Convention on Diplomatic Relations of 1961
The Vienna Convention on Consular Relations 1963
Law of the Sea Treaty (United Nations Convention on the Law of the Sea)
MARPOL 73/78 (International Convention for the Prevention of Pollution from Ships)
The Vienna Convention on Diplomatic Relations of 1961
The Vienna Convention on Consular Relations 1963
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The Right to Self-Determination
Many believe because our community is not a member of the United Nations and is only just over a decade old, doing business with the Kingdom of Mount Vema is not possible for foreign nationals and foreign companies seeking to take advantage of the business opportunities the floating city project is creating. Nothing could be further from the truth. The territory doesn't need a United Nations membership to function as a sovereign territory, or to exercise its inalienable right for self-determination
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