More Images Name: Nici Island Region: Philippines, Asia Location: Palawan Development: Developed Title: Leasehold Type: Private Island Price: USD 400,000 convert Status: For Sale Size: 5.40 Acres / 2.19 HA Save Print Share Inquire About Nici Island This island comes with a charming house on top of the hill with 360-degree panoramic sea views. The island has a tennis court with excellent views, a fully functional boat pier, two water tanks (one of them elevated) and a diesel electric generator. The house has hot water coming from the solar water heating system and wind turbines that can generate a small amount of electricity without the need of external fuel. The master bedroom is air conditioned and the two single bedrooms have ceiling fans. Excavation work for a swimming pool has started and the buyer will get the island with the swimming pool installed. There is an area on the beach that has about 25 metres of very gentle inclination, becoming as good for swimming as an Olympic swimming pool during high tide. The town of Culion is a 30 minute boat ride away from the island and has plenty of shops selling everything from food to gadgets and a number of touristic attractions. The town also has its own college (the Loyola College of Culion, founded in 1936 and offering a Bachelor in Literature and a Bachelor in Entrepreneurial Tourism). The whole area of Coron/Culion/Busuanga is well known for its excellent diving sites, with a number of shipwrecks from World War II scattered around the area. Three of them are within half an hour of the island by boat - with the Lusong Gunboat being the closest. In addition to shipwrecks, around the area there are the diving sites of the Barracuda Lake (with its underwater cave), the Cathedral Cave and the Seven Picados Reef. The latter has outstanding features: large formations of pristine staghorn coral, table corals and, to the eastern side, gorgonia fans. The island is well connected to the world - it is 45 minutes by boat and then 60 minutes by car to the airport in Busuanga. This airport has 2-3 daily 45 minute flights to Manila. There are also less regular flights to Cebu and Puerto Princesa. From Manila there are direct flights to many business centres such as London, Dubai, Hong Kong and Los Angeles. In order to own an island in the Philippines, a foreign national will have to set up a number of legal structures and will benefit from having a lawyer in the Philippines. The current owner is a British citizen who also works as a paralegal and after owning this island he has gained substantial experience with the process and will be more than happy to guide the new owner on the best strategy to jump through all legal hoops to ensure the investment is well secured. For the people already knowledgeable in Filipino law, we advise that this island comes with a Tax Declaration, ECC Certificate and Palawan Provincial Approval (FLAgT SEP Clearance) and the NCIP clearance is about to be approved. This is great news as the NCIP is known to be a very-hard-to-get document in Palawan. Timeshare Option This island can be bought also via a shared ownership scheme. If there are two buyers interested and each of them only need to use the island for personal use for no more than 4 months per year, the current owner of the island is happy to sell 4 month/year timeshares at the cost of USD100,000 each. The timeshare would be legally structured as private limited company in England with full use rights to the island. The current owner would keep a 4 month/year timeshare and the responsibility to maintain the property. Maintenance costs would be shared between the three timesharers.
Did you mean to post this is the comedy section? :D For P400k you can own jack-squat. They are being less than honest in the description, I wouldn't trust them any further than I could p*ss. What do you wanna bet those four months aren't during the rainy/typhoon season? Are Timeshares a Bad Investment? Why Buying a Timeshare is a Bad Idea Why not to buy a timeshare: There is a HUGE reseller market. Often you can pick up units for less than half of what was originally paid. Like buying a car, it depreciates once you “drive the timeshare off the lot” (take ownership). It’s rare that a timeshare increases in value. In fact, don’t expect it to. Timeshares are usually sold to you when you’re on vacation, and your defenses are down. Most have high yearly maintenance fees. In my parents case, it’s increasing every year, faster than the rate of inflation. For the amount that you pay in maintenance fees alone (forget about the initial “investment”), you can stay at a nice hotel for a few days.
