SINT MAARTEN (CAY HILL) - Since the first residents moved into the residential complex in September 2020, many more tenants and buyers have settled in the new Oryx Hill residential compound, a local investment project of Algemeen Pensioenfonds Sint Maarten. The lease-to-own financing option has become the most popular among those interested in owning their own home.
Oryx Residences was designed as a local APS investment to offer safe, hurricane-resistant yet aesthetically pleasing housing to families on Sint 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 home through the lease-to-own option, which allows tenants to finance 90% of the purchase price at the end of the lease term. It is also possible to rent or to obtain a 100% financed mortgage, depending on one’s financial situation.
“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. As we realized that a lot of Sint 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”, APS Director Nadya Croes-Van Putten explains.
As of January 12, only 16 out of the 62 homes are still available. APS teamed up with real estate brokers Century 21 and Key Concepts to manage inquiries and viewings. To inquire about current availability, interested persons can contact these brokers via email or phone.