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Cyprus Eastern Forum Index » Your Developments » Armonia Apartments - Kapparis Goto page Previous  1, 2, 3, ... 37, 38, 39  Next
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Post: #21   PostPosted: Mon Oct 01, 2007 4:55 pm Reply with quote
Malky6
Joined: 22 Aug 2007
Posts: 57
Pictures: 0

 
Hi Paul,
I think youīre correct in relation to rental income.
I think in a high growth market, rentals will be at a minimum.
Itīs very difficult to obtain high growth AND decent rentals. Itīs one or the other. I reckon once the market has matured (around 5 years time) then rentals will pick up.
The agent from MRI told me i could purchase the white goods myself if i wanted. They didnīt tell me that i couldnīt use them to market the place if i bought these things myself. I must email aftersales again to get more clarification on this issue.

s.
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Post: #22   PostPosted: Mon Oct 01, 2007 7:19 pm Reply with quote
Planner
Joined: 12 Jul 2007
Posts: 150
Pictures: 0

 
Hi Stephen,

I would be interested in the outcome of your conversation with aftersales but they clearly said that the travel compaines that have signed up to their rental arrangements would require a H&S certificate. If we went with the MRI furniture package the cost of the H&S certicate would be in the price otherwise it would cost between Ģ2500 - Ģ3000 to obtain.

Also, if MRI are to believed, a good proportion of these apartments have been sold which leads me wondering why there are not more people besides us three joining this thread? Strength in numbers and all that..

Paul
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Post: #23   PostPosted: Fri Oct 05, 2007 2:03 pm Reply with quote
Planner
Joined: 12 Jul 2007
Posts: 150
Pictures: 0

 
Drew/Stephen,

Rather than keep using this thread, do you think we need another way passing around any progress news during the construction of this complex. Perhaps each of us having each others e-mail address of even using 'skype' or some other method. What do you think?

Regards

Paul
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Just bought at Armonia 
Post: #24   PostPosted: Fri Oct 05, 2007 2:09 pm Reply with quote
Stabilo
Membership Closed
Joined: 05 Oct 2007
Posts: 3191
Pictures: 1
Location: Paralimni / Kapparis

 
Hi folks, got back Wed evening. Bought a 2 bed in block A (not sea view, all gone). Managed to get free aircon from them. Not started building yet and still scheduled to complete Feb 09.

Told MRI there is no way I am paying Ģ8K for a furniture pack however comprehensive it is. The MRI guy was fine and said his wife has been to the local Ikea and it is excellent.

My wish list is for WiFI on site, anyone else want the same?

Paul

p.s. MRI didn't mention a H&S certificate at up to Ģ3K to me.
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Armonia Luxury Resort Apartments 
Post: #25   PostPosted: Fri Oct 05, 2007 3:22 pm Reply with quote
Steve - SJD
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Joined: 16 Jul 2005
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Pictures: 55

 
Planner wrote:
Rather than keep using this thread, do you think we need another way passing around any progress news during the construction of this complex.


Hi Paul - Don't worry about using the thread - that's what it is intended
for - to keep people updated. There may well be others who have bought
on your development but haven't yet joined in so it is helpful for them
to read.

Of course a lot of people pass info via email etc and that's great but it's
also always good to keep the thread updated. By the end of the
development you may well find loads of your neighbours on the thread Smile

HTH

Cheers

Steve


Last edited by Steve - SJD on Tue Jun 23, 2009 11:49 am; edited 1 time in total
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Post: #26   PostPosted: Thu Oct 11, 2007 5:48 pm Reply with quote
Malky6
Joined: 22 Aug 2007
Posts: 57
Pictures: 0

 
Hi Paul/ Everyone,
I contacted MRI in relation to the health and safety certficate.
There's no requirement to buy one. They even called me from Spain today to clear up the matter, so you should be grand.
Did anyone take out a swiss franc mortgage? I had a bit of a headache at first but i did my reasearch and i reckon they're good for the long run. Obviously if the swiss rate increases, then that's the danger! But overall, over a 25 year or 30 year term (considering there's no crazy flucuations) it should save you 50K (touch wood). What's your thoughts?

s.
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Armonia 
Post: #27   PostPosted: Thu Oct 11, 2007 8:21 pm Reply with quote
Stabilo
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Joined: 05 Oct 2007
Posts: 3191
Pictures: 1
Location: Paralimni / Kapparis

 
Good news on the H&S certificate. I asked MRI about it again yesterday but they didn't know what the costs was.

I have taken out a Swiss Franc mortgage at around 4.2% but my understanding is that they only do interest only for 5 years. After this time you need to do capital & repayment.

MRI sent me a jpg from Google and the coordinates are 35 deg 03' 09.79" N and 33 deg 59' 36.51" E. I will post to the thread with the Google Earth details.
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Post: #28   PostPosted: Fri Oct 12, 2007 12:19 pm Reply with quote
driller.drew
Joined: 28 Oct 2006
Posts: 98
Pictures: 0
Location: Northern Ireland

 
Guys

I also arranged a Swiss Franc mortgage - The only issue I have came across was the rate I obtained from a well known currency exchange was not as good as I expected - I set up a regular transfer facility which I am considering cancelling as I can get a better spot rate for each time I want to send money.

What are you guys doing to pay the mortgage?

Drew
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Armonia 
Post: #29   PostPosted: Fri Oct 12, 2007 12:24 pm Reply with quote
Stabilo
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Posts: 3191
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Location: Paralimni / Kapparis

 
Not sure I understand the question Drew. Do you mean what do we do for a living to pay the mortgage or what are the mechanics of paying the mortgage?
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Post: #30   PostPosted: Sat Oct 13, 2007 8:17 am Reply with quote
marion
Joined: 30 Aug 2005
Posts: 1830
Pictures: 4
Location: Birmingham

 
Hi guys... from your coordinates, this development is right on the so-called "dangerous bend". See Google maps - is this right?

Fireman's Beach is more than "a few minutes walk away"!

Marion

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Armonia 
Post: #31   PostPosted: Sat Oct 13, 2007 8:23 am Reply with quote
Stabilo
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Joined: 05 Oct 2007
Posts: 3191
Pictures: 1
Location: Paralimni / Kapparis

 
Yes Marion it is on the bend, I remember it from my recent visit.

My understanding is they are building an access road off the road that runs N to S rather than the road with the sharp corner.
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Post: #32   PostPosted: Sat Oct 13, 2007 10:29 am Reply with quote
driller.drew
Joined: 28 Oct 2006
Posts: 98
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Location: Northern Ireland

 
I was just interested in the mechanics of the mortgage as I want to try and find the most cost effective way to send money for the monthly payments

Drew
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Post: #33   PostPosted: Sun Oct 21, 2007 6:18 pm Reply with quote
Malky6
Joined: 22 Aug 2007
Posts: 57
Pictures: 0

 
Hi Drew,
In relation to paying the mortgage, I asked this key question a while back.

Now, obviously the mortgage is taken out the Bank account in Cyprus (this was confirmed by Alpha Bank or Lender). Personally, I'm going to wire in an initial amount of Euros (say 5k) from my bank account in Eire to my Euro account in Cyprus. Shouldn't cost anything for a three day transfer. I then anticipate getting some rentals: ) If i get tenants to rent the place then i shouldn't have to top up the bank account in Cyprus. I was told if i rent the place solid over the summer, then that would cover the mortgage for the year. I'll wait and see..

However, if i don't get the rentals then i'll have to wire the mortgage amount from my bank acount in Eire to my Cyprus bank account every month.

Hope this answers your question.

s.
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Mortgage 
Post: #34   PostPosted: Sun Oct 21, 2007 6:24 pm Reply with quote
Stabilo
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Joined: 05 Oct 2007
Posts: 3191
Pictures: 1
Location: Paralimni / Kapparis

 
I assume we are talking about paying the mortgage from completion date rather than when the drawdown is done against the mortgage by the developer. I believe first drawdown is in December but the interest on the drawdown is rolled into the original mortgage.
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Post: #35   PostPosted: Sun Oct 21, 2007 6:27 pm Reply with quote
Malky6
Joined: 22 Aug 2007
Posts: 57
Pictures: 0

 
Lads,
I received a quote for the furniture packages from Aftersales.
The basic package is around 7500 Cypriot and the deluxe package is around 9000 Cypriot. And that doesn't include air con units!

Does anyone know a good place to source these air con units at a decent price??

s.
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Air conditioning 
Post: #36   PostPosted: Sun Oct 21, 2007 6:29 pm Reply with quote
Stabilo
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Location: Paralimni / Kapparis

 
Yes I got mine for free from MRI Laughing
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Post: #37   PostPosted: Tue Nov 06, 2007 7:05 pm Reply with quote
Planner
Joined: 12 Jul 2007
Posts: 150
Pictures: 0

 
Has anyone heard if they have started the building work yet?
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Post: #38   PostPosted: Tue Nov 06, 2007 10:09 pm Reply with quote
Olamush
Joined: 20 Oct 2007
Posts: 23
Pictures: 0
Location: Dunstable Bedfordshire, UK

 
Hi, purchased a 1 bed apartment in block B. Been in contact with the developer by e mail and have been told that work has started. Hope this helps?
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Post: #39   PostPosted: Mon Nov 12, 2007 4:33 pm Reply with quote
tommo
Joined: 12 Nov 2007
Posts: 74
Pictures: 0

 
Hi
First time on site and I can confirm that work did start this month and will have photo soon.
Can you tell me if anyone looked into the insurance side of things yet?
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Post: #40   PostPosted: Mon Nov 26, 2007 5:08 pm Reply with quote
marion
Joined: 30 Aug 2005
Posts: 1830
Pictures: 4
Location: Birmingham

 
Paul asked me to have a look and take some pics, so this is what I found last week...




More, and full-size pix, are available here - so it really is happening, guys!

Marion

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Armonia Apartments - Kapparis 
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