Caracola beach & Spa resort, Isla Margarita
Property Details
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Description
Isla Margarita, known as the “Pearl of the Caribbean” is the most developed of three islands which form the state of Nueva Esparta.
Although situated within the Caribbean, Isla Margarita is not in the hurricane belt.
Its’ natural beauty, location and tropical climate make the island an increasingly popular tourist destination
The Caracola Beach & Spa Resort comprises of 1244 apartments and duplexes spread over 15 floors, overlooking the stunning Caracola Beach,on the eastern fringes of Isla Margarita’s main town, Porlamar.
Prices start at 79,000 euro’s for 1 bed, 1 bath apartment.
2 bed, 2 bath apartments from 103,000 euro’s
Completion is due by the end of 2010.
Fully SIPP and SSAS compliant, approved by Pointon York
• Property ownership is freehold
• Extremely tax efficient purchase methods
• Purchase and legal costs of only 2%
• Ability to purchase property through a company with no purchase costs
• Capital growth was pitched at 32% in Isla Margarita in 2006 and the island is 85% undeveloped
• No VAT, Wealth Tax, Income Tax OR purchase tax
• Average year-round hotel occupancy of 70% thanks to the presence of both domestic and International tourist markets
• Consistently strong economic growth:- Average GDP increase of 11.3% per year between 2004-07
Due diligence available
Rental option
10 year rental guarantee - 7% Net
Rental Income - Guaranteed by a Fidelity Bond, Issued by Chubb Insurance
Optional 28 days personal usage per annum (except SIPP purchases)
Fractional ownership of 25% available with 1 week’s usage per year
No Maintenance Fees, No Management Fees, No Service Charges if rental option taken
Ten Year Rental Contract Renewable for Further 10 Years
The hotel will replace furniture and fixtures and fittings, as wear and tear dictate free of charge
Only €3000 to reserve
The best development on the beautiful Caracola Beach
Prices from €79,000 - excluding payment term discounts
30% deposit held in ESCROW account
Fractional ownership of 25% available with 1 week’s usage per year
The last apart-hotel to be built directly on the beach in this area