The Ten Point Plan
As mentioned before the Alpha Panareti mantra is ‘product, product, product!’ i.e it may be the best location and development in the world, but if you haven’t got the product that the buyer is after, it’s simply unsaleable.
All new developments, whether a group of half a dozen private villas, a project of 500 apartments, a major golf course or Marina, are planned and designed with the following in mind:
Location
Must be suited to the target client e.g, A holiday resort with investment properties must be within close distance to sandy beaches, restaurants, evening entertainment and the airport etc. Private villas for retirement are more likely to be in a small, quite village location with breath-taking views.
Architectural excellence
There’s no point in building the cheapest possible design i.e. a featureless square box. It will never hold its value and clients will dislike the look of it from the start. Architecture must be elegant, reflecting local features and eminently practical to its purpose.
Construction quality
Corner cutting on quality is false economy. Also, quality shows when an agent/client is comparing buildings – AP properties might cost a bit more, but they’re worth it as a long term investment, with few structural problems, appropriate guarantees and high grade building materials.
Project facilities
Must suit its purpose – developments sold for rental investment will need enough facilities of the right type if, for example, the aim is to make sure that visitors don’t need to leave the resort unless they wish to do so. Large swimming pools, restaurant as well as a mini-market and playground etc. Also more exoteric aspects can affect a decision to purchase, has the resort got underground parking and lifts? One besetting mistake made by other developers is to build a complex of 100 apartments with just one swimming pool of 50 square meters.
Mortgage schemes
The bank must have ‘approved’ the development in advance so as to be suitable for mortgage loans. Ideally, there should be two or three different types of mortgage schemes available.
Aftersales services
Clients need to have the availability of competent and sympathetic Aftersales services. This sort of investment is simply too valuable for a client to be fobbed off with ‘there’s no choice of tiles and we can’t alter the internal layout at all’. Aftersales services must be present especialy after a property has been delivered, not just for the statutory one year’s snagging, but also to answer questions like ‘where can I get extra kitchen units to match the ones already put in three years ago?’
Re-sales services
We all know that re-sales do take place, sometimes intentionally but mostly unwillingly. The property needs to be able to hold its market value, or preferably increase it!, so that a true investment is made. Also the developer must be able and willing to offer assistance and guidance with re-sales.
Rental services
Whilst developers can not become involved with direct rental of properties but what they sell must be suitable for this purpose and Alpha Panareti has made an arrangement with several rental marketing companies who will be happy to sign up owners of "AP" properties to their schemes, although this is by no means obligatory for the client.
Property Management
Property Management is an essential part of all Alpha Panareti complexes of over 80 or so properties. It is built into the Contract of Sale with clients being fully aware in advance of what services will be covered by annual management fees. This includes matters such as maintenance and cleaning of all communal areas and facilities, general administration facilities, provision of sunbeds and umbrellas etc. Such management is vital in order for the complex to be kept 100% up to scratch for its investors. The management services on all Alpha Panareti developments are run by a separate, "non profitable" organization, with active input from an owners’ steering group.
Security
It is vital that the client feels secure at every stage of purchase and beyond. We try provide this security by insisting that clients use independent solicitors in Cyprus, with Contracts and all other documentation written in English, by ensuring that mortgages are private arrangements between the client and the bank, not part of a special deal with Alpha Panareti and by providing independent agents in their own countries who have genuine knowledge of the AP product and the system. Alpha Panareti also runs ‘Client Clinics’, where clients can meet face to face with the Director and management of AP, to talk through and resolve any matters, both during the sales and build process as well as after the delivery of the property.