Buying an Apartment


An apartment is part of an apartment building. The characteristic for an apartment is the existence of a Homeowners Association. When buying such a house you actually buy an apartment right, the right to create a space that is set up as an independent house used and described in the deed of the apartment right.

However, there is still a way of living in Curacao that is called apartment. Many houses have a separate building in the garden that can be used as guest accommodation. These apartments are often equipped with a bedroom, a bathroom, a small kitchen and a terrace. Also with this form of an apartment, there is the right to the use of a part of the building, all of these, however, are not connected to each other.

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

What phases occur when buying an apartment?

After finding your dream home that meets all your requirements and needs you will bring you an opening offer out. 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 account of the notary, which is usually 10% of the purchase price.

The mortgage lender studies the buyers and background of the apartment before a loan is made. This will include looking at the valuation and ownership history in the Land Registry. When all this is in order the next step will be to proceed to transfer at the notary 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
Livingstone ANG 1,450
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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