One of the perks of being on my email list is that I sometimes get advance notice of true opportunities and I pass them on.
This morning in my incoming email I was surprised to see the prices that a developer in Australia has set for a new residential estate in Vanuatu. I mean REALLY surprised!
Now understand this: He is selling land on a remote island in a remote country. It's not in Port Vila where there are shops and amenities. Land that currently has no power connected, and no water connected.
But it IS on a rise overlooking one of the most beautiful beaches in Vanuatu. And it IS perfect for someone who is looking for a spot that is truly “off the grid.”
It won't always be that way, since there is a giant hydroelectric station coming online in the middle of next year which will be running power lines past the blocks. And there is bore water available already that can easily be piped to the block too. A NiVan village is close by with a shop and medical clinic.
It's the sort of thing where it's really cheap on the front end, and after a year or two you could turn it over and make a nice profit even if you never did anything with it. Or you could keep it, add a house and have a bolt-hole for your Plan B or something for holidays or to rent out.
It's an isolated place, but if that is what you are looking for, get this: he's pricing these 800 to 1053 square meter blocks at USD39,950 to USD49,950. Yeah, he is old school and somehow still believes that people will buy something because it's just under a round figure.
Vanuatu has no income tax or corporate tax, however the government has to get money into the coffers somehow, so fees tend to be higher than what you are used to. Usually though they are one-off fees. In this case one-off 15% VAT and 5% Transfer and 2% Registration fees add 22% to the total. Allow about another USD500 for legal fees, and you are looking at totals of USD49,239 to USD61,439
And for full disclosure my wife and I own 5% of this particular project so we will benefit a little if you buy one or more of those blocks. We picked one for ourselves as well, so you will be our neighbour, if that floats your boat. It better not: we are not that social!
By the way there is very good satellite internet that can easily be powered by solar, available everywhere in Vanuatu. Otherwise I would not want one of these blocks for myself. The government announced last year they were putting millions of dollars into upgrading the local airport (about 60 km away, this is on a big island) to become an international airport.
We have a huge (well over a thousand acres) export papaya farm project happening just behind, further back from the beach on a plateau, and plans are underway for a small eco-resort (only 6 rooms) down closer to the water.
There are 8 blocks being released. He's calling it “Malekula Palms Estate” which admittedly doesn't sound very inspired. The name is because it's on Malekula Island and you look down through palm trees to the water.
Anyway, for what it's worth, there it is.
If you are interested either respond to this email or leave me a voice message at https://in.vu/lance
Lance (finds the bargains) in Vanuatu
