Ponta Bicuda

This topic contains 170 replies, has 31 voices, and was last updated by  hammersteve 13 years, 4 months ago.

  • Post
    optiontrader
    Member

    hammersteve:- I have bought on Ponta Bicuda. The deposit is only 40% before completion, which is a lot less than most developments, although this may change(So get in now) it happened at Ponta Preta in Sal. The rental guarantee is handy if you do not want the hassle of being a landlord. Its not due to be completed until late 2009/early 2010 so by that time its pretty certain direct flights will be in place.

Viewing 5 replies - 166 through 170 (of 170 total)
  • Replies
    optiontrader
    Member

    Hi all:- A couple of important points from the developers letter to hammersteve:-

    1) At the moment they have no bank borrowings.
    2) They have enough sales to deliver Tedju and Cor di Mar and properties in Coladera(Which have been sold)
    3) They have a contract with Tiara for management of the hotels.
    4) They are building the properties.

    dubberboy
    Member

    the concern for this, and many other developments is that the developer will build the properties as they sell them, my concern would be that if there is a massive slowdown that i end up with a finished property stuck in the middle of a building site for many years.

    hammersteve
    Member

    Your concern is understandable, however, the 5 year rental guarantee should allay that concern (even if it is probably factored into the purchase price!!) The gamble is really where the market will be in 2015

    hatter88
    Member

    Further to my post about bank guarantees my faith has been immediately restored. A few hours after my post the vigilent guys at Ponta Bicuda got in touch and confirmed that my guarantee was in place and that the paperwork would arrive imminently.

    This only goes to confirm that my initial trust in the Ponta Bicuda team is well placed. I guess everyone can be forgiven for getting a little nervous in the current environment!

    hammersteve
    Member

    Quick one. There used to be an interactive map which showed the %sales achieved in each part of the development. Thought I would have a nose today and see how sales were going, but it has been removed. Maybe sales are so good that they don’t want to scare their competition !!

Viewing 5 replies - 166 through 170 (of 170 total)

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