Kustenwald Apartments

Kustenwald Apartments

Published on Tuesday November 17th, 2009 by

Graal Muritz
Baltic seafront
1 & 2
1 & 2


The location

The project is located on the outskirts of the

holiday resort town at Graal – Müritz which lies 15 minutes to the East of Rostock, within the regional district of Mecklenburg.

The town is a popular holiday resort for the Germans with a predominant natural setting. It enjoys direct access to a seafront with 40 km of uninterrupted white sandy beaches on the Baltic Sea, stretching from Warnemünde to the West, up to the National Park at the Cape to the North East.

The area is populated by dense forests, beachfronts and lagoons with small towns and holiday resorts throughout the region. The entire area is considered to provide a healthy environment and is visited by elderly people in the shoulder periods and families in the summer.

A train line ends its journey in Graal – Müritz and through Rostock connects to the main railway network of Germany. A ferry line connects on a daily basis the Warnemünde port to the Danish port at Gedser which lies 45 km to the North.

Amenities of the area include the new Hohe Düne Marina, 400 berths with a luxurious hotel and restaurants. Coffee shops, a number of luxury hotels with spa facilities, fishing port promenade, piers on the beachfront, a water park, theme parks and nature trails complete this picturesque holiday resort.

The development lies on the Ribnitzer road, about a kilometre away to the south east of the town, within dense forest. It’s a pleasant 10 minute walk to the beach, while a newly completed bicycle road leads to the centre of the town in 6 to 7 minutes.

The Project

Küstenwald is a typical gated, comprehensive resort development and occupies an area of 13,35 hectares. Apartment buildings 6,15 ha in total, private forest land of 7,2 ha, common grounds, a road network and parking.

The project is planned to be developed in five phases, it will incorporate 336 flats in total and a service building when completed.

Infrastructure for the entire project was completed in March 08, phase I including 1 and 2 bedroom flats and the service building was completed June 09. Phase II incorporating 72, one bedroom flats, was delivered in spring 12. Total built to date 164 flats.

The building blocks are completed fully externally, however the internal finishes of the flats are left for completion on sale, according to buyer’s choice.

The service building incorporates 1200 m² of rental rooms and 800 m² of commercial area. A reception, a restaurant area, sales, property rentals and management office as well as bicycle rentals are available for tenants and visitors.

Holiday Letting

Letting and property management is carried out by local companies specializing in this type of services, promoting holiday lettings in the area with a wide network throughout Germany.

They anticipate rentals ranging from 70 to 110 days per year depending on weather conditions. Rentals are ranging from €55-to €70 per day for 1 beds and €90 to €150 per day for 2 beds.

Property Management will include arrangement of utility services, insurance, street cleaning and up-keeping of common gardens, garbage disposal, street lighting, bookkeeping and owner’s management meetings.

The service charges amount to €55 for a one bedroom and €75 for a two bedroom apartment, per month.

Other Fees and Taxes

Notary fees apply on each contract at a rate of 1% of purchase price.

Land tax (sale transfer fees) is charged at 5% of purchase price.

Income from rental revenue is subject to income tax.

No VAT applies on purchase of property when acquired for rental purposes.

The Developer

HawoPath is a joint venture company between Path Property Ltd, majority shareholder and Hawo KG  which is a local German developer specializing in holiday homes, acting as project manager. Prior to this project Hawo KG had already developed and sold in excess of 200 houses in Graal Müritz and currently managing the service centre.

Further information:     http://www.hawo-immobilien.com/ferienwohnpark-kuestenwald.html

Holiday lettings:  www.strandsommer.de

Property Location

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