Discounted Bay Island Condos
Date: 03/03/2006Dear International Living Reader,
Lee Harrison continues to file his real estate reports as he scours Honduras and the Bay Islands on your behalf.
A mountain oasis, a hidden valley...and now an incredible value in the luxury condo market. Lee's journey through little-known Honduras is going well.
You'll hear more from our Roving Latin America Editor throughout March as his Honduras adventure progresses. Meantime, to learn about discounts of up to $187,000 in what Lee describes as "the hottest property market in the Caribbean," read on...
Lief Simon
Real Estate Editor, International Living
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Discounted Bay Island Condos
Saturday, March 4, 2006
Roatan, Honduras
Dear International Living Reader,
Roatan's West Bay has fine, white-sand beaches, good restaurants, fine shops, and world-class diving; it's the fastest-moving spot on Roatan, Honduras' main Bay Island, which is right now the hottest property market in the Caribbean. And West Bay is where I found the most exciting opportunity for a second home of any that I saw on Roatan--Keyhole Bay. This upscale project--set on 20 acres of rolling hills and trees--is ideal for the second-home buyer, because the current phase being offered is a small selection of condos...condos that, when not in use, can be securely locked until your next visit.
If you're looking for the cheapest way to buy into the booming market on Roatan, this opportunity isn't for you. But if you're interested in what I believe is the best value in the luxury condo market on the island, then you should look closely at the pre-construction deals on offer here.
Keyhole Bay sits on a choice property in the island's prime sector. The "keyhole" from which the project takes its name is a small inlet carved into the rock--about 50 feet wide--which ends on shore at the property's small private beach. (This beach was a "date spot" on the TV series, Temptation Island.) Plans call for a swimming pool near the keyhole, as well as a restaurant, clubhouse, and a bar. Also in the works are high speed Internet service, satellite TV, and land line phones (but as we remind you often, buy what you see). All utilities are underground here, which is something you can't take for granted on Roatan.
Equally important to me, however, was the fact that the owner at Keyhole Bay--Dan Taylor--impressed me as a guy who has a clear vision for his project. As a potential buyer, you'll need to make up your own mind in this regard, but personally, it was a selling point, along with the fact that he and his wife, Sam, are building their own home here.
The condos on offer right now come in one-, two-, and three-bedroom models, but before you decide which model you're in the market for, you should know that Keyhole Bay has small guest apartments placed around the complex for use by the residents...so there's no need to size your condo for that occasional visit from your mother-in-law, or the kids.
Most attractive however, was the current pre-construction discount pricing.
In my opinion, the regular list prices at Keyhole Bay are fair, and somewhat lower than the competition I visited (plus, I found Keyhole Bay's property more desirable). But between now and April 1, you can get a pre-construction discount of 20% off the list price.
On top of that, Dan is offering a flat $22,000 discount to International Living readers on the first three units sold.
When you combine the 20% pre-construction discount with the potential IL readers discount, the savings are significant: at least $92,000, and as high as $187,000.
Condo prices (after all discounts) start at $257,000 for a one-bedroom unit with an area (under cover) of approximately 1,400 square feet. From there, they go up to $638,000 for a three-bedroom unit of 3,700 square feet (under cover).
Sales to date at Keyhole Bay have been brisk, with the earlier offering of single-family building sites selling out quickly. If you'd like more information, contact our Honduras office at: http://www.il-ireland.com/il/questionnaire/keyhole-bay/. You can reserve a unit with a $10,000 deposit.
Lee Harrison
Roving Latin America Editor, International Living
P.S. If you're in the mood for pasta or pizza while you're in the West Bay area, try stopping at Il Pomodoro, on West Bay Beach. They had great food, good ambiance, and the island's best service. Plus, they deliver. Tel. 403-8066.
Important Note: In the interest of full disclosure, we want you to know that International Living receives commissions from sales at Keyhole Bay.
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