Caribbean Living from Just £47,000 – Without the Headache of Hurricanes

Hurricane season 2007 is now well underway and the desperate news for many Atlantic coastal residents is that boffins predict it to be an above-average season with up to 16 named storms of which five could be major hurricanes. The first, Hurricane Dean has already wreaked havoc across Jamaica and Mexico causing 1.9 billion US dollars-worth of damage. For all of its outstanding qualities, not least the beaches and the turquoise seas, the Caribbean can be a poison chalice when it comes to extreme weather. The good news is that the southern sweep of the Caribbean is reassuringly outside of the hurricane belt, and that includes Isla Margarita.

This Venezuelan Island is the Caribbean at its most affordable and basks in sunshine safe in the knowledge that it is part of a stable, wealthy oil-producing nation. In fact Venezuela’s economy is one of the fastest growing in the world after China, experiencing in 2006 both a property price boom and a stock market rise of 160% according to the Economist.

Isla Margarita is also home to Marina Caribe, a five star aparthotel resort that represents a superb investment vehicle. Carley Todd, GEM Estates’ Isla Margarita specialist comments, “Marina Caribe offers a guaranteed rental income for no less than ten years with a minimum of 6% guaranteed for inaugural year one and four weeks off-peak personal use. Isla Margarita currently has an average year-round hotel occupancy of 70% thanks to the presence of both international and domestic markets, the latter attracted by the prospect of duty-free shopping sprees. Marina Caribe is also in an enviable location, right next door to the luxurious Hilton hotel complete with casino and overlooking Porlamar marina, a favourite stop off for Caribbean cruisers stocking up on cheap fuel and alcohol and which may have up to 100 boats moored at any one time. At GEM Estates we cite Isla Margarita as a true emerging market as up to 85% of the island remains undeveloped. Capital growth was pitched at 32% in 2006 and we see no reason why that percentage rate couldn’t go even higher. To top it off Isla Margarita is a tax-free haven - no VAT, no CGT - and the cost of living is absurdly low.”

Marina Caribe is set just 150 metres from the beach, 100 metres from the Marina and 25km from Santiago Mariño International Airport. Comprising studios and one or two bedroom apartments, Marina Caribe will operate as a hotel but purchasers will also be able to enjoy their investment for perfect sunshine holidays. On-site facilities include a communal pool, rooftop Spa and second swimming pool, children’s play area, upper floor restaurant with panoramic views plus lower level bar and restaurant and also a 700-seat conference facility. All units are delivered fully fitted and furnished and come with ample parking for all.

Nearby Porlamar, literally meaning ‘by the sea’ in Spanish, is a sizeable city with elegant shops, wide avenues, energetic nightlife, lively restaurants, a casino and coveted free-port status, that is to say duty free. The coastline around Porlamar is blessed with palm-fringed sandy beaches and together with a Robert Trent Jones designed 18-hole course and Nikki Beach, it provides a perfect setting for luxurious holidays and canny property investment.

Prices at Marina Caribe from 47,000 GBP for a studio, 60,000 GBP for a one bedroom and 99,000 GBP for two bedrooms. Payment terms - £ 2,000 GBP reservation, 50% deposit, then 50% upon completion (18 - 24 months from deposit).

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Author: GEM Estates
Date: 03/09/2007