What apartments will you be offering in the 1st phase?
In the first phase, we expect to complete buildings A, B and C, which will contain 40 apartments with 3 or 4 rooms plus a kitchenette. Each of these apartments will have a terrace oriented towards the south, a sauna, and its own underground parking.
When do you expect to complete the 1st phase?
We plan to complete construction in the first phase together with a final inspection in the last quarter of 2019. After this, we will begin handing over the apartments to their new owners.
What will the running costs of an apartment be?
The running costs will be highly particular to each user of an apartment. This will depend primarily on individual energy consumption (hot and cold water, and electricity). Each apartment owner shall purchase electricity individually on the basis of a supply contract. You should also bear in mind the costs of running and maintaining the building, which includes further items such as electricity for communal areas, inspections, cleaning (according to a decision of body corporate), minor repairs and maintenance (replacing light bulbs, etc.), and a so-called repair fund. The sum of deposits for these individual services will be established by the owners themselves through the body corporate. The supply of these services will be ensured by the body corporate or a chosen administrator.
What does the price of an apartment exactly comprise?
The specified price of an apartment includes VAT, a joint-ownership share in the building, and a share of the land underneath the building. The purchase price also includes the apartment’s standard fittings: sauna, floors, floor and wall tiling, doors and door jambs, complete bathroom fittings according to the project, electrical distribution systems, an internet and telephone connection, etc. (for more details, see the Standards section). The price does not include kitchen units.
Are instalments of the purchase price for an apartment planned?
Instalments for an apartment and facilities (sauna, garage) will depend on the stage of construction of the building. When signing an agreement for a future contract, a first instalment will be established at 10%, an instalment of 40% will then follow upon completion of the building envelope, after a rough electrical distribution system and high and low-voltage current connections have been completed and windows have been fitted, a further 20% instalment will follow. Another 20% will follow completion of the building, and a final 10% will be paid after a purchase agreement is signed and before the apartment is taken over.
What financial advice do you provide for taking out a mortgage or a loan?
We cooperate with all institutions which provide mortgages. We will be happy to arrange financing for you at any bank. Of course, you must meet the established conditions. We will always take the particular conditions of an applicant into account, for example, whether you are an entrepreneur or an employee, whether you keep a bank account, etc.