Prices / Return on Investment / How it Works
*All figures shown below are indicative prices in US dollars. Please read the disclaimer below
| Type of Villa | 2 Bedroom Villa | 3 Bedroom Villa | 4 Bedroom Villa | 5 Bedroom Villa |
| Land Purchase price (Undivided Share) | $9 846 | $17 622 | $18 000 | $19 458 |
| Construction of Villa cost - starting from | $221 154 | $331 378 | $485 000 | $529 542 |
| Land and construction Price - starting from | $231 000 | $349 000 | $503 000 | $549 000 |
| Stamp Duty and Transfer fees | $886 | $1 585 | $1 620 | $1 751 |
| Total Cost | $231 886 | $350 585 | $504 620 | $550 751 |
| Optional Furnishing Pack | $25 743 | $33 339 | $48 960 | $51 061 |
How it Works
Once the villa has been constructed and completed and the purchaser has paid in full for their villa, title of the land and villa is transferred to the new owners. Thereafter owners will be required to pay the management company (governed by the Home Owners Association) a monthly levy and some individual costs associated with the maintenance and running cost of their villa, details of which can be seen below.
Villa owners have unlimited use of their villa. If they are not using their villa personally, they can rent their villa privately according to the recommended rack rates below or they can place their villa into a rental pool whereby the rental pool company will endeavour to rent the villa to international, regional and local tourists. Details of the rental pool can be seen in the section “Rental Pool Company” below
Optional furniture packs are available which are recommended to ensure uniformity in all units that are being placed into the rental pool. This will also make sure that the recommended rates can be achieved. The furnishing packs have been chosen by professional interior decorators and are of a very high standard. They included everything that is required for a holiday rental, right down to the last teaspoon
| Recommended Rental Rates 2015 per Lodge per Night (including VAT) | |||||||||
|
Green Season 11 Jan - 20 Mar/1 May - 30 June/1 Nov - 30 Nov |
High Season 21 Mar - 30 April/1 July -31 Oct/1 Dec - 10 Jan |
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| 2 bedroom | 3 bedroom | 4 bedroom | 5 bedroom | 2 bedroom | 3 bedroom | 4 bedroom | 5 bedroom | ||
| International Rack Rate | $365 | $450 | $580 | $705 | $550 | $685 | $885 | $1075 | |
| International Nett Rate | $292 | $360 | $464 | $564 | $440 | $548 | $708 | $860 | |
| SADAC Rack Rate | $310 | $383 | $493 | $599 | $468 | $582 | $752 | $914 | |
| SADAC Nett Rate | $248 | $306 | $394 | $479 | $374 | $466 | $602 | $731 | |
There is a complete absence of luxury self-catering accommodation on offer at the moment in Victoria Falls so there is no reason why Bonamanzi will not be able achieve high occupancy levels. The return on investment will be completely dictated by the number of nights that the owner places their villa into the rental pool. As one can see from the rates above, after relatively few nights rental, the associated monthly costs will be covered enabling them to thereafter receive a high return on their investment.
Management Company
In order to maintain the estate to a high standard, owners will be required to pay a monthly levy to cover the expenses of the management company. The management company will be governed by the Home Owners Association of which all owners are members.
The management company will be responsible for the following services and charges;
- Provision of 24hr security and maintenance of security systems
- Provision of an estate manager and staff to run and maintain the property to a high standard
- Maintenance of the perimeter fence, grounds and gardens
- Repairs and Maintenance of equipment used in maintaining the estate, including boreholes, water pumps, lawnmowers, generator etc
- Backup generator fuel
- Repairs and Maintenance of communal pools and water features
- Pest control
- Repairs and Maintenance of communal buildings, such as reception, garages and workshops
- Repairs and Maintenance of each individual villa, major expenses incurred will be billed separately to the individual owner
- Ensuring correct supplies of gas, water and electricity to each villa
- Payment of insurance, electricity and water for all gardens and communal areas
- Ensuring internet, telephone and DSTV services are working properly
- Collection of levies and preparation of management company accounts
2015 Levy estimated at $550 per month per villa. This excludes individual charges set out below that will be billed separately to each owner as they are variable and will depend on the occupancy and size of villa.
- Rates per villa
- Electricity per villa (individual metering) (Solar Geyser are included in build cost)
- Water per villa (individual metering) (Boreholes are included in build costs)
- DSTV account
- Telephone account
- Internet account
- Insurance per villa
- Gas per villa
- Repairs and maintenance including furniture, equipment, electrical and refrigeration.
Monthly statements will be prepared for individual owners and it will be the responsibility of the owner to settle this account unless rental income has been received by the Rental Pool Company in which case the expenses will be offset against that income.
Rental Pool Company.
Villas can be placed into a Rental Pool when the owner is not occupying their villa. The company will endeavour, through travel agents to rent the villas on an equitable basis and owners will receive the nett rates detailed above.
The rental company also offers various services (detailed below) for which a 17% commission is payable. If owners do not require these services then they will not be required to pay the commission or if they only require some of the services then a commission rate can be negotiated.
- Booking office which controls the flow chart and handles all bookings
- Receipt of payment of all due rentals
- Meet, greet and registration of guests
- Dealing with guest concerns and issues
- Preparation of villa for incoming guests, ensuring villa is clean and made up, and will include the provision of consumables such as toilet paper and cleaning materials.
- Daily housekeeping of villa during guests visit.
- Laundry of bed linen and towels
- Provision of necessary health certificates etc required for commercial property lets
- Advertising of the estate including printed material
- Monthly account statement for each individual villa and payment of any income due to villa owner
Monthly statements will be prepared for each individual Villa. Expenses charged by the management company for levies and other utilities (detailed above) will be deducted from the rental income received and any profit will be paid to the owner monthly.
Remittance of rental income
Rentals due to non-resident individuals and non-residents Zimbabweans (Diaspora) who formally acquired immovable property are freely remittable from Zimbabwe, provided a signed copy of the Rental Pool agreement is lodged with the bank.
Profits will be paid monthly into a local bank established by the villa owner. Non-residents are then able to remit these funds as per the paragraph above.
Tax
15% VAT and 2% Government Tourism Levy will be the responsibility of the owner unless otherwise agreed.
Zimbabwean tax will apply on profits for both individuals and companies and payment of any such tax will be the responsibility of the owner.
The developer will be only be too happy to answer questions that a potential investor might have.
*Disclaimer: The above information has been prepared by the developers in good faith and every effort has been made to ensure their accuracy, however the figures are based on several assumptions which might change in time. Therefore all the figures contained are estimated and are not contractually binding by law.
As with any project of this nature enough firm interest has to be obtained from investors before the project can go ahead and only then will final contractual figures be provided.
