Only 16 of 62 of homes in Oryx Residences in Cay Hill are still available.
CAY HILL–Many more tenants and buyers have settled in the new Oryx Hill residential compound, a local investment project of the General Pension Fund of St. Maarten APS, since the first residents moved into the complex in September 2020.
Only 16 of the 62 homes are still available as of January 12, APS announced on Tuesday.
The lease-to-own financing option has become the most popular among those interested in owning their own home.
“The lease-to-own financing option that we introduced in the past year has offered a solution to many who were interested in buying a home, but lacked the borrowing capacity to obtain a full mortgage right away,” APS Director Nadya Croes-Van Putten explained.
“As we realised that a lot of St. Maarteners are still getting back on their feet financially in the wake of Hurricane Irma and the ongoing COVID-19 pandemic, we instituted this new option. With this construction, residents can lease until their financial situation allows for a full mortgage, while already partly redeeming it through the existing rent.”
Oryx Residences was designed as a local APS investment to offer safe, hurricane-resistant yet aesthetically pleasing housing to families in St. Maarten. The 62 one-, two-, and three-bedroom units are centrally located in Cay Hill and secured by 24-hour surveillance.
The majority of the current residents financed their homes through the lease-to-own option, which allows tenants to finance 90 per cent of the purchase price at the end of the lease term. It is also possible to rent or to obtain a 100 per cent financed mortgage, depending on one’s financial situation.
APS teamed up with real estate brokers Century 21 and Key Concepts to manage enquiries and viewings. To enquire about current availability, interested persons can contact these brokers via email or phone.
APS reminds persons that it strictly adheres to the COVID-19 guidelines. Phone calls, emails and video meetings are encouraged. Visits are still possible, but by appointment only.
Source: The Daily Herald https://www.thedailyherald.sx/islands/80-of-oryx-residences-have-been-leased-or-sold