Propertyshowrooms.com reveals new property investment opportunity on the popular Caribbean island of Isla Margarita.
It’s a brand-new development of one and two bedroom apartments called Caracola Beach, situated on an idyllic island in the southern part of the Caribbean Sea. The island itself is called Isla Margarita, and is the largest of three islands that form the Venezuelan state of Nueva Esparta. The project consists of 1,244 apartments and duplexes spread over fifteen floors, with the majority of the units benefitting from panoramic sea views, in a region which has not gone unnoticed to travellers and investors alike.
“The island has become an increasingly popular tourist destination often referred to as ‘the pearl of the Caribbean’ and quite rightly so,” comments Gareth Milton, Operations Manager of IPIN Global (or IPIN) the investment arm of Propertyshowrooms.com. In fact, hundreds of years ago the island and its surrounds was once an important centre for the pearl trade due to the discovery of vast oyster beds.
Nowadays though, foreign visitors and residents from mainland Venezuela come for the all year round sunshine, relaxed atmosphere, clean beaches, and the advantages offered by its status as a duty-free port. “More visitors means there is now a much greater demand for good rental property in this sought-after location, resulting in potentially excellent rental yields for property investors in this project,” explains Gareth Milton.
Caracola Beach certainly stands up to financial scrutiny, with a ten year rental guarantee scheme in place, offering 7% yields. There are one-bedroom 45m² apartments priced at 79,000€, and two-bedroom 68m² - 79m² apartments ranging from 103,000€ to 175,000€. Facilities include ample parking space, four communal swimming pools, a fitness centre, shopping arcade, business centre, restaurants, and 24 hour security.
It’s location right on the beach is certainly a major advantage, and the island as a whole is extremely accessible – always an important factor when considering the right location to invest.
“There are direct flights from many European and US destinations,” confirms IPIN’s Gareth Milton. “The island has a good road system, with good overall infrastructure. I would strongly recommend this development to all IPIN members and anyone else who is considering investing in a safe location, with great capital growth and rental income potential. This Caracola Beach investment is certainly hard to beat.”
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