I just got back from Aruba and am happy to tell you that the project is looking really good. Am very close to making a decision to get a townhome there.

There is a new 3% tax in Aruba but I was told by a realtor that this does not apply to real estate. I would be careful paying the developer directly the 10% down payment. I bought a condo last year and found out that all the funds go through the notary. I worked with Notary Tromp and she was great. Very thorough...she translated every document from Dutch to English so I knew exactly what I was getting into.

On a related note, Tierra Del Sol just bought the property behind them that goes all the way back to Malmok. The governor of Aruba just approved the sale of one of the beaches at the end of Malmok ( on the way out to the California Light House). The paper stated that TDS is going to be building a hotel back there. There is also an upper scale, strip type mall being build accross from Goald Coast. The entire area is really booming.

Good luck with your purchase.

Maribel
www.arubacondo.shutterfly.com

Maribel

Thanks for your insight, Maribel. Cas Bon insists that 3% sales tax does apply to our purchase of the real estate pre-construction property. Do you know, where could I verify for sure? Would the Notary know?

Also, we will need to stay in Aruba for 2-3 nights in August, just one person. Anyone having availability?

Cas Bon is pretty reputable but I would check anyway. Here is the information for the Notary I worked with on my purchase

M.J.C Tromp
Tel 011-297-585-3500 or 011-297-585-7900
Email: info@notarytromp.com

If you call, ask to speak to Marisol. She was really helpful with our purchase.

If you still need a place to stay let me know. My condo is a mile inland from Gold Coast. Feel free to check out the pictures at www.arubacondo.shutterfly.com.

Maribel

dimate,

Did you resolve this issue yet? Do you mean on the top of the purchase price you agree upon you still need to pay additional 3% tax?

I clarified it and it was reconfirmed that the 3% tax (on top of the sale price) does apply to pre-construction property purchases. Guess, I will have to swallow it and console myself with expected appreciation.

I have contract for the townhouse there. I'll get out of the deal if I could... long story. Do you have villa or townhouse? When is it going to finish? If you would like, you can email me to my address at lyy8@hotmail.com.

Hi SY428,
We too have a contract for a townhome in phase 2 at Gold Coast. While we are in the early stages of our process, we have been happy with them. Would be interested in knowing why you would get out of it if you could. Are you having problems with the developer??? Thanks for sharing any info.

Return to One Happy Island, January 7, 2009!

I'm in Aruba, considering one of the townhomes in this development. Aren't any of you concerned about putting so much money up front. We'd never give a developer 95% of our purchase price prior to settlement. What guarantees do you have that they will complete the project. Please email me at macalh@aol.com

Barry, I am also building a Single Family Home at Gold Coast Villas. They are moving along at a rapid pace. I was there 6 weeks ago and going back in 2 more weeks for another check. I am very pleased at the progress and quality. If you have any specific questions or want pictures feel free to email me direct: steventford@insightbb.com

Hi Steve,
Just back from Aruba, Had a wonderful 15 day working vacation. I am very pleased with the progress and was able to finish my interior selections for my townhouse. I am looking at around December 4th for the closing date. The doors and windows had arrived and they were finishing up on interior painting. I was very impressed and glad that I invested at the time I did in the beginning.
Thanks and have a great trip.
Barry