FAQ

Owner of the land and therefore seller of the homes at Baia Vista Residence is Isla Caribbean Realty B.V. This is a company incorporated under Curaçao law. Isla Caribbean Realty is the contracting party for purchase agreements with future owners of the residences.

The delegated developer is Rebirth International B.V., a company also incorporated under Curaçao law. Rebirth will carry out the entire development process on behalf of Isla Caribbean Realty up to and including sale and delivery of the homes. The two parties are not affiliated to each other but have signed an exclusive cooperation agreement for Baia Vista.

Approval for the Baia Vista subdivision was issued by the Executive Council of the Island Territory of Curaçao on 6 March 1997. This permit is also mentioned in the EOP (Island Development Plan) and is continuously valid. A building permit for the realisation of the houses has been applied for by Isla Realty, which is expected within a few weeks.

At Baia Vista Residence, shared facilities will be constructed in addition to residences. These include swimming pools and pool decks for joint use. There are also ideas for a café with terrace, shop, gym facilities, boules court and playground.

At Hòfi Sint Joris, you have access to a football pitch, padel court and outdoor gym. You can make free use of these as Baia Vista is part of Hòfi Sint Joris.

Baia Vista will be realised on an authentic piece of Curaçao amid untouched nature. The area has long been popular with mountain bikers, hikers, surfers and kite surfers.

Partly because of the environment, we are making sustainable choices during the realisation of Baia Vista. For instance, we work together with local parties as much as possible, choose sustainable materials wherever possible, and integrate a lot of greenery in the construction of common grounds.

We deliberately choose not to install solar panels on the roofs: as the high concentration of salt in the air causes accelerated wear and tear and increased maintenance needs.

Materials are sourced locally or from nearby countries whenever possible. In this way, we minimise the impact of transport and avoid unnecessary strain on shipping. This not only contributes to sustainability, but also supports the local economy and reduces our ecological footprint.

Hòfi Sint Joris is providing the installation of 100 per cent solar street lighting and the construction of an environment street where all waste streams are separated. The latter is unique for Curaçao.

All homes at Baia Vista are delivered turn-key. This means the homes are fully finished and equipped with all floors, walls, ceilings, kitchen, bathroom and sanitary ware. The walls and ceilings have been painted. Apart from a few options for the kitchen and sanitary fittings, it is not possible to pass on personal wishes.

If you bought a flat or penthouse, the landscaping of communal garden, pools and pool decks are provided by the seller. If you bought a semi-detached, garden and pool landscaping is not included in the garden and you have to take care of it yourself (or have it taken care of).

Optionally, it is possible to purchase two furniture packages: indoor and/or outdoor. The content and pricing of the furniture packages (where you have a number of choices) will be communicated at a later stage.

For notarial services, including the provision of purchase deeds and the transfer of flat rights and land, we use the services of Notary Office Chatlein.

Financial advice is provided by administration firm MnM B2B.

We work closely with the organisation behind the overall area development of Hòfi Sint Joris.

The zoning plan allows homes at Baia Vista to be used for 1) personal use, 2) regular rental, and 3) tourist rental. This means the properties are of interest to buyers who want to occupy the property themselves, buyers who want to use the property as a second home, as well as buyers who want a return on their investment (or a combination of own use and rental).

The regular management of the properties and the park will come under the responsibility of the Owners' Association.

For regular and temporary (holiday) rentals, we may eventually set up a rental organisation offering these services. Towards the completion of the properties, more will be known about this. Each owner is free to make use of this service or not, or have it provided by someone else.

The purchase price of the property will be paid in stages. After signing the purchase agreement, a down payment of 15% of the purchase price is due. This is followed by around 5 instalment payments related to the delivery of the flat right (or land) and the achievement of construction milestones. The final instalment payment is due once the property approaches completion.

Our biggest investments relate to land payments and contractor payments. Both are contractually in Caribbean guilders (formerly Antillean guilders, with an exchange rate of 1:1). For this reason, we apply sales prices in Caribbean guilders. It is important to realise that you may incur an exchange rate risk when paying the purchase price, especially if you pay in a currency other than Caribbean guilders. An exchange rate risk can be positive and negative. It is advisable to consult your financial adviser about this. We are currently exploring options to minimise the exchange rate risk for you.

Your annual return consists of two components: the potential increase in the value of your property (the indirect return) and rental income (the direct returns).

Right now, there is ample reason to say that Curaçao's real estate market is on an upward trend. The number of homes sold has been rising year-on-year for more than a decade, with an increase in sales prices in all segments. This is mainly due to an influx of buyers from Europe (especially the Netherlands) and the United States (source: Central Bureau of Statistics, Curaçao).

Tourism on Curaçao has also experienced strong growth in recent years. In 2024, the island welcomed more than 700,000 overnight tourists, up 20% from the previous year. Including day tourists and cruise passengers, the total number of tourists that year reached more than 1.5 million. This growth continued in January 2025, with 73,289 overnight tourists, which is an increase of 20% from January 2024. This translates to a growing demand for accommodation on the island (source: Curaçao Tourist Board).

The general expectation is that these trends will continue in the coming years, which could have a positive effect on home values and livestock rental yields. However, it is important to note that we do not guarantee any particular return for your property at Baia Vista.

It is possible to receive the rental income from your property on Baia Vista at 0% tax in the Netherlands. To this end, we work with an administration office in Curaçao that can advise you on the possibilities without obligation. Take contact with us to receive more information on this.

Owning a property comes with fixed costs. As an owner at Baia Vista, you need to take into account such things as:

• Property tax (OZB)
• Owners' Association membership
• Membership of the Management Association
• Contribution to Hòfi Saint George umbrella foundation

Property tax (OZB)

The OZB is levied annually based on the value of your property. The government uses a progressive rate for this purpose:

• Until XCG 350,000: 0,4%
• On the part between XCG 350,000 and XCG 750,000: 0,5%
• About the multiple above XCG 750,000: 0,6%

Associations and contributions

As a property owner in Baia Vista, you are automatically a member of three associations that jointly take care of the management, maintenance and livability of the area.

1. Owners' association (VvE)

Every house or flat is part of an MoU. This association manages the common parts of the specific apartment complex, such as:

• Garden maintenance and communal pools
• Insurance (such as buildings)
• Building up a reserve fund for major maintenance
• Cleaning and minor maintenance

2. Section-VvE Baia Vista

The Section-VvE is responsible for the common facilities of the entire Baia Vista area, including:

• Electricity for the common area
• Internet facility
• Rubbish collection service

Indicatively, the joint monthly contribution to the CoE is approximately XCG 600.

3. Hòfi Saint George Foundation (umbrella).

The Hòfi Sint Joris Foundation manages the general facilities of the entire Sint Joris area. These include:

• Security and surveillance
• Maintenance of infrastructure and public facilities

The monthly contribution to this foundation is approximately XCG 150.

Many owners choose to (temporarily) rent out their property. The associations' monthly costs can then be partially or even fully offset by rental income.

Some of our buyers have had good experiences with the intermediary Strong-in, specialising in real estate financing in the Netherlands and the Netherlands Antilles. There are also financiers who provide mortgages for the purchase of a second home, both in the Netherlands and Curaçao (MCB Bank).

Hòfi Sint Joris comprises a subdivision plan of about 55 hectares. The owner of this allotment plan is “Zeebries Development Company” (Zeebries). The total plantation “Coral Tobacco” is about 600 hectares. The allotment plan is currently the only part of the plantation that may be developed. The rest of the plantation is zoned as “open area” and “conservation area” within the EOP (Curaçao's official zoning plan).

It is unlikely that the “conservation area” zoning will be changed to one that allows development in the next few years. The owner of the rest of the plantation (the Bakhuis family of Curaçao) has applied for a zoning change for the “open areas”. The family's representative has indicated to Zeebries that they want to develop this part residentially and for tourism. This application is pending with service ROP. This is currently the latest status.

The following has been agreed with the owner of Coral Tobacco: “Sea Breeze and its purchasers will be allowed access to the hiking, cycling and equestrian trails in the conservation area at the same payment, which will also apply to other visitors to “Coral Tobacco”, after construction of the said trails and after the conservation area has been opened for that purpose, provided they comply with the regulations for the conservation area, as will be laid down by Greko's N.V. as the lead developer of “Coral Tobacco”.” Currently, no payment is requested for use.

The property deeds include the following text: ” (...) and to the beach at St George's Bay and to use part of the beach at St George's Bay in accordance with the Beach Regulations in force...”.

The beach is being developed by the owner of Coral Tobacco. As a result, we cannot provide accurate information on completion. The latest status is that the waste present along the beach is being removed bit by bit. In addition, stone formations along Sint Joris Bay were recently constructed in preparation for further beach construction.

Hòfi Sint Joris will be a gated community: access to the area will be protected by a secure post and fencing. In the current phase of the development, there is security in the form of man guarding in the evenings and at night, the cost of which is currently borne by the owner of Hòfi Sint Joris. There is a chain park for storage of building materials and occupancy by employees. The service level of security and the (distribution of) costs will be determined by the various Owners“ Associations and the owner of Hòfi Sint Joris in periodic consultation.