| TOP (1870) :South America (164) : Venezuela (2)
New Oceanfront Condo Investments on Margarita Island in Venezuela (off plan)
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| Property Group | Residential | | Property Type | Condominium | | Built | 2010 | | Waste System | Septic | | Price | Euro 84,530
For Sale |
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| Location | Caracola Beach and Spa Resort | | Nearest City | Isla Margarita | | Living area | 45.00 sq/m | | Bedrooms | 1 | | Bathrooms | 1 | | Living Rooms | 1 |
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Caracola Beach & Spa Resort is a frontline beach property development on the picturesque Isla Margarita in the Caribbean. The apart hotel / condo hotel project provides an incredible condo investment opportunity through capital growth as well as rental return and the very attractive tax benefits of Margarita Island.
NOTE: THE DEVELOPER IS OFFERING A 7% DISCOUNT OFF THE PURCHASE PRICE FOR ANY BUYER WHO PUTS A MINIMUM OF 50% DOWNPAYMENT ON A CONDO DURING THE MONTH OF JUNE!
This emerging market in the Caribbean has seen investment from major world leading brands such as Hilton Hotels, Cartier, BMW, Benetton, Tiffany's, Hard Rock Café and MacDonald's. The island does not have a rainy season, is outside the hurricane belt and temperatures are between 24 - 38 ºC all year round.
There are Ten Reasons to Invest in Caracola Beach & Spa Resort:
1. 10 Year >7% Nett Guaranteed Rental Income
2. The rental guarantee is backed by an insurance bond, through Chubb insurance
3. SIPP (Self Invested Personal Pensions) compliant for UK investors
4. Developer and rental & management company with proven track record
5. Full consumer protection with Escrow is offered
6. Low cost of entry; pre-launch prices start at €75,000.
7. This emerging market in the Caribbean has seen investment from major world leading brands such as Hilton Hotels, Cartier, BMW, Benetton, Tiffany's, Hard Rock Café and MacDonald's
8. Direct Flights from the UK, Europe, USA, Canada, Mexico and & South America
9. Financing is expected to be available prior to completion, secured on the property, backed by the fidelity bond of the rental agreement
10. It's a beautuful oceanfront property
The Location:
Isla Margarita, known as the “Pearl of the Caribbean” is located just off the North East coast of Venezuela. Although situated within the Caribbean, Margarita is not in the hurricane belt. Its natural beauty and tropical climate make Isla Margarita an increasingly popular tourist destination.
Visitor numbers reached 2.3 million in 2007, up from 2m in 2006 and 1.5m in 2005. A recent survey indicated a shortage of 110,000 beds on the island.
The country shows consistently strong economic growth: As the 8th biggest producer of oil in the world, petroleum revenues have driven growth at yearly levels of over 9% per annum. This emerging market in the Caribbean has seen investment from major world leading brands such as Hilton Hotels, Cartier, BMW, Tiffany's, Hard Rock Café and MacDonald's.
The Caracola Beach & Spa Resort is overlooking the stunning Caracola Beach, on the eastern fringes of the island’s main town, Porlamar. The resort is placed beside the Hilton Hotel in a very sought after beach location.
From U.S.A: The following airports have frequent departures to Caracas: Atlanta, Boston, Charlotte, Chicago, Cincinnati, Dallas, Denver, Detroit, Houston, Las Vegas, Philadelphia, Phoenix, San Francisco, Seattle and St. Louis
From Caracas there are numerous daily ‘shuttle’ flights to Isla Margarita, with a flight time of only 35 minutes. When flying into Margarita you arrive via Del Caribe International, which IsIa Margarita’s only airport with both international and domestic terminals. Caracola Beach & Spa Resort is just over 24km from the international airport. The drive, along modern roads, takes approximately 30 minutes.
ResidencesThe Caracola Beach & Spa Resort Comprises of 1,244 apartments and duplexes spread over 15 floors, overlooking the stunning Caracola Beach. Almost every unit has a spectacular view of the Caribbean Sea.
1 bedroom, 1 Bath - 45m2 - from 84.530 Euros
2 bedroom, 2 Bath - 67.86m2 - from $119.840 Euros
2 bedroom, 2 bath - 79m2 - from 139.100 Euros
Each apartment will have a balcony or small garden, fully fitted kitchen (including white goods) as well as air conditioning systems. The residences will come fully-furnished and with a 10 year building guarantee. The development will also have plenty of semi-covered parking.
Facilities & ServicesWithin the resort you will find a multitude of services and facilities which includes:
Four Swimming pools including thrilling slides and lazy river rides
Beach activities area for rentals of Jet skis, kayaks etc
Restaurants
Bars
5,000 sq.ft. Spa
Fitness centre
Kids club
Arcade / Game Room
Hairdressers
Retail outlets incl. duty-free shopping
Nightclub
Business centre
Security guard
Concierge services
Housekeeping
The rental guarantee is bonded by means of a Fidelity Bond, which is an independent insurance policy with Chubb Insurance. Each owner is individually named on the policy as a beneficiary of the policy and is insured for a total of $10 million dollars per annum. If the operator, Geneva Hospitality, were to go bankrupt, each named owner on the policy will receive their income for the full 10 years.
You can have personal use of the property if you do not buy through a SIPP (UK owners only). Your usage is limited to certain times of the year and the amount of weeks’ usage will be deducted from the income on a pro-rata basis.
The Development TeamThe developer is Mar y Casas Mediterraneas, a well respected Spanish developer since 20 years, in conjunction with the leading Spanish Bank “Banco Guipuzcoano”, as well as other key associate partners.
The two compamies Aliva-Stump and Lusmetal Construcciones y Proyectos have been formal partners, as Aliplus, for a number of years, working on a number of key construction projects throughout Venezuela. As a result of this collaboration, they have developed large scale projects such as the expansion of the International Terminal of Maiqueta Airport and La Ceiba Shopping Centre in Valencia.
The resort will be managed by Geneva Hospitality, a team of professionals dedicated to exceptional service. Currently managing 12 hotels (8 being apart hotels/condo hotels), the company has a reputation of meeting the highest standards of excellence.
Purchase DetailsTo reserve a unit a €3,000 ($4,000 USD) reservation fee is required.
There are three payment options;
Pay 30% deposit less €3000 ($4,000 USD) reservation fee within 28 days (or 90 days for a TRANSFER SIPP )
Pay 50% deposit less €3,000 ($4,000 USD) reservation fee to qualify for a 5% discount
Pay 50% less €3,000 ($4,000 USD) reservation fee within 28 days (or 90 days for a TRANSFER SIPP ) to qualify for a 7% discount
Full consumer protection with Escrow is offered.
On deposit pay 1.5% for legal & administration fees*
Pay balance on completion** plus additional 1.5% legal and administration fees*
Owners have to pay for property insurance, which is expected to be €60-100 per annum.
Construction will start 3rd quarter of 2008 and is planned to be finished in 2010.
Caracola Beach & Spa Resort has been given outline approval by a small number of SIPP providers (UK buyers only), including Pointon York, as it meets all the qualifying criteria.
Buyers can sell prior to completion (once the development has sold out).
*includes estimate of legal and administration fees
**Mortgages for the balance are expected to be available prior to completion, secured on the property, backed by the fidelity bond of the rental agreement. Competitive market rates are expected to apply at the time.
Contact us for additional information |
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