yes you may have to only pay 30% until completion for LHB, but then you have to get finance for the rest. at least with SP this is already in place, im not too sure if there is already a bank-approved option for LHB?? but in any case you will have to find tenants to keep up with your payments....good luck renting a property with no electricity or water! so what if LHB might complete this year or early next, if there are no utilities in place! if you cant rent it then you have £0 returns, except of course capital appreciation, which in my opinion will be greater at Pacific with the private beach residents, and expecially now that Pacific has been awarded 'Best Development'. People will see this award and want to buy in to pacific with confidence from a good and reliable developer. And as for resales, i know that there have been resales with good returns already, so nothing to worry about there.Only a few days old annoucement
As I said you will make money on select ( I believe I will),only your return on your investment will not be as good. I feel I made a mistake here of sorts, although I will still make money there is the potential to make more. Not a big mistake, but in hindsight there was better offers.
How? You are paying 30% (long term plan) upfront with further payments which for the low end studio will be minimal £4000 a year untill the property is built, which is due for mid 2011.
Thats 30% investment + £12,000k before you see a return should you buy.
Would it not make more sense to pay 30% for a property, not pay anything else. The property is also finished a year and half / two earlier from which if you rent out that is approx £7-12k per year or whatever the rental income may be. You obviouslly make a better return on your money, simple maths.
As far as the resales go, you could call them yourself I think you will get a polite we have cancelled resales at the moment. This by the way was pushed to me when I inititally bought, as was the fact the island was built.
Point of interest, was anyone else told the island had already been built?