Secret Bay records sale of US $ 7million vacation home

Secret bay

Management of Secret Bay and Secret Bay Residences has confirmed the off-plan sale of one of its vacation home estates for US $ 7 million to a North American buyer.

The property includes four villas, three swimming pools, four electric vehicle parking shelters, charging stations and other amenities, according to Gregor Nassief, the owner of the company.

As this is a VEFA, the property has not yet been built. Nassief described the location as a prime clifftop area on an acre of land hovering about 200 feet above the Caribbean Sea.

The buyer and his family, Nassief noted, are not economic citizenship investors and the land is located in an area that needs more than 1,000 feet of road infrastructure development and services. There are also plans to install a funicular or a hillside elevator to access this part of the resort, he told Dominica News Online (DNO) in a brief exchange on Friday.

“Vacation home buyers like these investors typically don’t spend more than a few weeks per year in their vacation home and the rest of the time it will be part of Secret Bay’s premium rental inventory and program,” thus allowing homeowners and Secret Bay to earn income from the property when not in use. So it’s both a lifestyle investment and a prudent financial investment from a buyer’s perspective, ”Nassief told DNO.

“The buyer’s investment underscores what I have always felt – that Dominica is the hidden gem of the Caribbean and an ideal location for investors looking for a second home in the safety and seclusion of our country. natural island, ”he said.

Nassief said the entire team at Secret Bay and The Residences at Secret Bay are “extremely excited about this and aim to create one of the finest vacation home estates in the world.”

The new owners are no strangers to Dominica as they have visited and stayed at the resort several times in the past.

According to their website, The Residences at Secret Bay is a Caribbean real estate component that offers over 40 treehouse-style architectural villas priced from $ 1.4 million to $ 4.05 million. These are available as full or shared ownership and as an eligible investment for the Dominica Investment Citizenship Program (CBI), the website says.

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