Isla Margarita, Venezuela – Investor-Friendly Overseas Investment

May 1, 2008 - PRLog -- As the air seeps out of many global property markets investors face the ever-toughening challenge of seeking out a safe yet lucrative investment opportunity.  GEM Estates first highlighted the Venezuelan island of Isla Margarita as a one-to-watch back in December 2006, attracted by its undeveloped nature,  amenable climate, tax-free status, low cost of living and stability offered from a wealthy oil-producing nation.  Yet, it has taken some time for truly inspirational, well-planned property to hit the market.  Newly released Caracola Beach and Spa Resort in the Island’s main town of Porlamar certainly fits the bill.

Younger investors have time as an ally and are able to watch a low-entry level investment flourish over the years, are best-placed to reap the rewards of long-term guaranteed rental returns and can also plan well-ahead for a comfortable future by contributing to a SIPP (Self Invested Personal Pension).  Caracola Beach and Spa Resort has every base covered.  79,000  euros will secure a one bedroom apartment based on 30-70 payment terms with the final 70% payable on completion at the end of 2010, plenty of time to get finances in order.  An impressive 7% net rental guarantee is in place for ten years, rising to 8.25% for the latter five years if 75% occupancy is achieved in year five.  Backed by an insurance bond this rental is truly ‘guaranteed’.  And, according to Fidelity Funds, with a quarter of a million 25-34 year olds making serious monthly pension contributions, the fact that Caracola Beach and Spa Resort is SIPPS compliant is a real bonus.  You’d be hard-pushed to find anything more investor-friendly.  

The Resort itself adopts an American-style layout arranged over 15-storeys in three distinct buildings, appealing to the local market and across the border into North America.  Flanking the sandy Caracola Beach to the east of Porlamar, the freehold units come in four different layouts ranging from 58.5m² to 125.8m² most with sea-facing terraces.  With fully equipped kitchens, climate control air-conditioning and comprehensive furnishings if entering into the lucrative rental pool, there is also a ten-year construction guarantee plus plenty of covered parking.  In respect to the environment, cavity wall insulation and double glazing ensure energy efficiency.  This is the benchmark for other resorts to follow.

Caracola Beach and Spa Resort is high on facilities including the essential Spa, restaurants, bars, gymnasium, boutiques, beauty salon, swimming pools and hammocks, sunloungers and chill-out areas distributed throughout the lovingly landscaped grounds.  The beach is also on the doorstep.  

To complete the scenario for an optimum overseas property purchase, capital growth is currently in the region of 30% per annum and with no VAT or Capital Gains Tax plus the significant rental income managed by a world-class company, there is very little reason not to invest in Caracola Beach and Spa Resort.

Prices start from 79,000 euros for a one bedroom and 103,000 euros for two bedrooms two bathrooms based on the 30-70 payment plan but discounts are available for alternative schedules.  If the first 30% is passed over within 28 days, 2% is knocked off the price and by switching to 50-50, with the first payment within 28 days, a 7% discount comes into play reducing prices to 73,470 euros and 95,790 euros respectively.  Stage payments are held in Escrow.

Contact GEM Estates now on info@gem-estates.com, visit www.gem-estates.com or call UK Freephone 0800 036 0068, Irish Freephone 1800 211 462 or call the Spanish office on 00 34 952 799 286 to find out more.

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for further press information or photography please contact Sarah Drane at
sarah@purplecakefactory.com or telephone 00 34 607 564 726

Website: www.gem-estates.com