It is described as an absolute gem, of rare calibre, and it offers lucky investors an opportunity to get involved in the buoyant Cook Islands.
An immaculate luxury beachfront home at Vaimaanga is currently on the market and has been reduced to sell at NZ $1,950,000 (+VAT).
Real Estate Agent Jeff Tikitau says a residential home of this luxury quality calibre is rare to find in Rarotonga.
This beachfront property has all the touches of a luxury lifestyle residential home or elements of a high yield investment,” Jeff says.
“BeachVibe consists of a two-bedroom two-bathroom executive house with seperate one-bedroom villa, and it is an exceptional turn-key rental investment.”
In recent years, the Cook Islands economy has experienced a strong run of real economic growth and it boasts one of the highest GDP per capita in the Pacific region, Jeff continues.
“Rarotonga is a great place to invest, offering an attractive quality lifestyle in a relaxed and safe environment, a thriving business community, and successful tourism industry with visitor arrival numbers at an all-time peak.”
This particular home is located at the edge of Rarotonga’s turquoise lagoon on 916sqm, and it boasts panoramic sea views, spacious open-plan living with seamless indoor and outdoor flow, large covered entertaining areas and spa pool, along with landscaped tropical gardens.
The complete home is constructed to high quality standards and is sold complete with high quality furnishings, furniture, fittings and fixtures.
Everything is in place should the new owners wish to continue to gain an income from the property, Jeff adds.
The full property achieved an attractive average occupancy rate of 84 percent in 2018, and offers 9 percent return on investment, with excellent potential to add a third and fourth bedroom, with shared ensuite to the main executive house.
Jeff says this luxury lifestyle property offers three potential attractive options including using the property as a private haven; utilising the property as an income source, with the two properties currently being rented out as accommodation.
“The two-bedroom executive house rents between NZ$595-$795 per night depending on the number of guests, and the one-bedroom villa rents for NZ$425/night at a minimum of three-night stays.”
Finally, you can do both – live in one, and rent out the other.
Built in 2015, this property is a fine opportunity for anyone looking to invest in the beautiful Cook Islands.
Visit HERE for more information about this property.