Buying a home in Curacao?
There is in fact, housing for everyone in Curacao. The housing market is constantly changing and therefore there is no single answer to this question. To somewhat give an indication of the prices, they begin around Nafl. 200.000, - (about € 100.000, -) for an apartment. Depending on the location, number of bathrooms / bedrooms and the presence or absence of a swimming pool, prices can reach up towards Nafl. 400.000, - (about € 200. 000,-) or higher. Also well above this price range and for virtually every budget there are apartments and houses to be found in Curacao.
What falls under the buyer’s costs?
Apart from the purchase price:
- Transfer Tax (4%)
- Notary fees (depending on the amount of principal)
- Land Registery(registration transfer of ownership, about Nafl. 800,-)
- Seal costs (depending on the amount of the principal)
- Signing of mortgage
Which phases occur when purchasing a home?
After finding your dream home that meets all your needs and requirements, you will bring an opening offer. This usually follows with a counter offer. If there is an agreement on the price and terms (for example, a subject to funding) a preliminary contract will be drawn up. Then a deposit issued by the buyer to a third party account of the notary, which is usually 10 % of the purchase price.
The mortgage then does a background check of the buyers and of the house before a loan is made. This will include looking at the valuation and ownership history in the Land Registry. When this is all in order, the next step will be at the notary for the transfer by signing the final deed.
What is the bank guarantee/deposit?
The purchaser is required to provide assurance that he meets his obligations arising from the provisional deed. This is done by giving 10 % of the purchase price in custody to the notary. When the sale during the reflection period is terminated or if a subsequent condition then arises, the deposit shall be refunded.
Can a non-resident get a mortgage?
Both residents, non -residents and retirees are able to get a mortgage. On Curaçao generally not more than 70/80 percent of the market value of your house will be funded. In many cases, the funding will be customized depending on the collateral and your financial situation. You can assume that you yourself must deposit one-third of the purchase price. When you are a non-resident, some banks may ask higher deposits. The buyers cost is almost always paid for by themselves, they are not co-financed in the purchase price.
Is there a reflection period when purchasing a home in Curacao?
As in the Netherlands, the reflection period for the buyer when purchasing a house in Curacao is three full working days.
Are there any additional costs associated with living in a resort?
Yes, living in a resort or in a gated community a monthly fee must be paid. This amount can vary considerably depending on the resort amenities. For example, a resort that only closes it’s gates at night will be cheaper than when there is 24/7 security presence.
To get an impression of the various costs, see the list of prices below (June 2016):
|Resort Fee||Construction Per Month||Vacant Lot Per Month|
|Beau Rivage||ANG 800|
|Blue Bay||ANG 369||ANG 369|
|Boca Gentil||ANG 600|
|Coral Estate||ANG 360||ANG 360|
|Groot Piscadera||ANG 500|
|Jan Sofat||ANG 200|
|La Vista Resort||ANG 300|
|Royal Gardens||ANG 725|
|Royal Palm Resort||ANG 820|
|Santa Barbara Marina Village||ANG 895|
|Seru Boca Estate||ANG 1,000|
|Sunset Heights||ANG 40|
|Villapark Girouette||ANG 100||ANG 35|
|Villapark Zuurzak||ANG 100||ANG 50|
What rules exist in a resort?
A residential resort, Villapark or gated community can be best compared to a Homeowners Association (fee). Each resort has a package of terms concerning matters such as pets, advertisements, putting objects on the outside of the housing, service, pool rules, resort fee, etc. These rules may vary by resort, including the resort fee can vary greatly depending on the facilities at the resort.
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