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2 bed apartment -CARACOLA Beach and Spa Resort NEW INVEMargarita Island Villas from 52000 pounds
Vista Del Mar
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The Caracola Beach Resort Comprises of 1244 apartments and duplexes spread over 14 floors, overlooking the stunning Caracola Beach. Populated across three blocks, the apartments vary in size from 58.5 to 125.8m2, nearly all with their own sea view.
Construction will be to the highest of standards in accordance with the most stringent of building regulations. Each apartment will have a fully fitted kitchen (including white goods) as well as hot and cold pumped air conditioning. All bathrooms will be fitted out with Roca or equivalent quality appliances. The development will provide plenty of semi-covered parking spaces to accommodate the resident or more adventurous tourist.
The project is designed to be very eco-sensitive with the use of solar panels to assist with the supply of electricity. Two layers of bricks with foam insulation, combined with double glazed windows make for a very thermally efficient apartment. Caracola's high standards of construction will set the benchmark for others to meet and follow.
Key Points
10 Year >7% Nett Guaranteed Rental Income
The rental guarantee is backed by an insurance bond, through Chubb insurance
SIPP compliant
Developer and rental & management company with proven track record
Full consumer protection with Escrow is offered
Low cost of entry; pre-launch prices start at €79,000.
This emerging market in the Caribbean
Direct Flights from the UK, Europe, North & South America
Financing is expected to be available prior to completion, secured on the property, backed by the fidelity bond of the rental agreement.
No annual maintenance or service fees
Freehold
Fully Furnished
Only 30% deposit required
Usage rights offered (unless you buy through a SIPP)
Caracola Beach Resort - 10 Year >7% Nett Guaranteed Rental Income
Caracola Beach Resort - Stunning FRONTLINE BEACH LOCATIONCaracola Beach Resort - 10 Year >7% Nett Guaranteed Rental IncomeCaracola Beach Resort - Low cost of entry with pre-launch prices start at €77,420
Caracola Beach Resort will feature:
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
FAQs:
Where is it?
Caracola Beach and Spa Resort is on the south eastern edge of Isla Margarita, an Island in the Caribbean that is part of Venezuela (approx 38 km north east of the mainland).
What about Hurricanes?
Isla Margarita is below the hurricane belt and as a result does NOT get hit by Hurricanes. In fact, very little rain falls at all on the Island. In 2007 there were 344 ‘sunny days’ (defined as having 6 hours or more of sun).
What are the temperatures like?
Average temperatures range from lows of 25°C to highs of 31°C throughout the year.
Is Isla Margarita safe?
The advantage of the island with respect to crime is that it’s an island: There are only a few ways on and off the island and they are well-controlled by the State. The likelihood of suffering violent crime on Margarita is low. As with all tourist destinations, petty crime is possible, but as tourism is fundamental to the economic well being of the island, it is not common against tourists/visitors.
Will I be offered a mortgage on any Caracola properties I buy?
The developer is currently negotiating the terms of the mortgages that will be offered to all clients. These will be secured on the property, backed by the rental bond
Is there a guaranteed rental return?
Yes there is a 7% annual rental return that is guaranteed for 10 years. This is backed by an Insurance bond (through Chubb Insurance). This means that there is 100% certainty that you will receive your income, as opposed to developer guarantees, which are dependent on the developer fulfilling their obligations.
Will I get a higher return if the occupancy is high?
Yes the occupancy for the resort reaches 75%, your guaranteed rental income will be increased by 17.8% to 8.25% per annum for the remaining 5 years of the 10 year contract.
Can I have personal use of the property?
You can have personal use of the property if you do NOT buy through a SIPP. 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.
Are the properties sold fully furnished?
Yes, all properties are sold fully furnished, as defined and required by Geneva Hospitality , the rental management company.
Are there any maintenance or service fees?
No, there are no such fees.
Prices:
One Bedroom Apartments from 77,420 euros - 58m²
Two Bedroom Apartments from 103,000 euros - 85m²
Two Bedroom Duplex Apartments from - POA - 103m²
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