Margarita Property Investment

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Investment Property in Venezuela

San Marino Complex, Island of Margarita, Venezuela - Venezuela

Margarita is blessed with one of the most fantastic climates in the world. The temperature only changes about °C over the whole year ranging from Daytime temperature highs of 30°C (86°F) in September to lows of 26°C (80°F) in January.

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San Marino Complex, Island of Margarita, Venezuela Summary

Price range of: £30,000 - £54,000
Bedrooms: 1 - 4
Development Type: Apartment
Listing Type: Sale

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Margarita Climate:

Night-time temperatures are about 3°C cooler.

In addition, Margarita Island is completely outside the hurricane zone. There are also no volcanoes. There is no fog or hail, and the rain, when it comes, seldom lasts very long. With 8 or more hours of sunshine a day, 320 days a year, the climate here is perfect for those seeking warmth, temperatures range from 25-32C.

Access

Getting there isn't tricky, with direct flights operating from Gatwick and Manchester, and an additional 18 indirect flights from other UK airports, mostly going via Caracas in Venezuela. Once you’ve bought a property, living here certainly won't break the bank.

Utilities:

Telephone service as provided by the main company CANTV including Internet and Cellular. Almost everybody has a digital cellular phone and internet connections are reliable high speed broad band. Electricity is provided by Seneca, and water by Hidro Caribe.

The Island:

The Island offers 72 wonderful golden sandy beaches. Relax on beautiful Playa el Agua and Playa Parguito and many more -- diving and surfing are also excellent here. With unspoilt, blue seas and year-round sun, Margarita is a haven of delights; island living in unspoilt, sparsely populated sunny climes, is the ultimate dream of many foreign property buyers. The Caribbean paradise island of Margarita has all this plus duty free that ticks all the boxes.

It's Va Va Voom on the Island of Margarita this exotic outpost has all the benefits and few of the pitfalls of some overseas favourites closer to home - and a property sector that's revving up…

The island is 67 kilometres long and 32 kilometres across at its widest point. There were a grand total of 1.5 million visitors in 2005 and it is the number one holiday destination for Venezuelans. The city of Porlamar has the usual collection of shopping malls, hotels, restaurants and nightlife, as well as an international airport. The islands capital, Las Asuncion, is set on a hill overlooking its eastern tip. Perhaps the most beautiful town is colonial-style Pampatar, with its pretty harbour. Here you can sit and watch the fishermen haul in their catch before dining on fresh fish in the waterside restaurants. Isle Margarita is also one of the largest importers of Scotch whiskey in the world!!!!!!!!

Investment Potential

The rental potential is six to eight per cent per annum and current figures show capital growth of 32 per cent. Buying is straight forward and cheap, as anyone can own property and there’s no need for residency to live on the island.

Margarita has been a tax, VAT and duty free zone since the Sixties. The purchaser of a property doesn’t pay any tax on the purchase, only a normal 0.5 per cent sales tax, one percent for land registry and $100 for the notary. There is an annual property tax of about $100.

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