Last Wind in Isla Margarita offers you the chance to own a freehold villa from just £55,000
10 years rental programme, fully-furnished, Non-status Mortgage available
Have you ever dreamt of a holiday home in the Caribbean but thought vacation villas were too expensive? Now is the time to reconsider and take a look at Last Wind Resort just off Playa El Yaque, one of Margaritas most stunning beaches.
West Land now offers the chance to own a villa within a resort hotel, located in one of the region's most beautiful island locations within yards of the sea at an incredible price. West Land will be operated by a leading international hotel group.
Isla Margarita does not only offer some of the region’s most beautiful and unspoilt beaches, rental programme, personal usage rights but has also been made a TAX FREE ISLAND, which is perfect for investors. The anticipated capital appreciation is 15-20% per annum.
Why Last Wind Condominiums & Residences
- 10 years rental programme: First 2 Years 8% NET rental guarantee, remaining 8 years profit sharing with hotel operator
- Fully Furnished
- Freehold
- Operated by a major international hotel chain
- No maintenance fees
- Located outside the hurricane belt
- 4 weeks personal usage per year
- 320 days of sunshine a year, tropical climate ranging from 30 to 32ºC
- Margarita is a Tax free island. No Capital gains or Income Tax to pay.
- There will be casino in the near future.
- Prices are between 50-60% cheaper than other Caribbean areas.
- Customer protection: payments will be held with UK Solicitors
- 15-20% annual capital growth
- Non-status mortgage available
Location
Isla Margarita, known as the Pearl of the Caribbean, is a mountainous tropical Caribbean island paradise located off the north shore of Venezuela.
The Margarita Island sits in a great location as there is no rainy season and is outside the hurricane belt and with a constant temperature of around 30-32ºC all year round.
There are plenty of activities including scuba diving, snorkelling, horseback riding, fishing, and sailing and excellent white sand beaches. There are natural parks and a golf course. There is of course also the Musipan Theme Park area with entertainment all day round for both adults and children alike.
Visitors to the island reached 2.3 million in 2007. There is a shortage of around 10,000 beds for tourists why new developments are being eagerly snapped up by tour operators, which means excellent rental yields are achievable.
There are direct flights to Margarita from the UK, Canada, Germany, Denmark, United Kingdom, Finland, Netherlands, Russia and Argentina. The majority fly through Caracas, Venezuela, a 35 minutes flight from Margarita Island.
First Choice operates a direct flight service from London Gatwick and Manchester airports.
The beach is around 50m from the resort, while the airport is 5km away.
The Residences
The development will provide attractive accommodation with 146 one, two and three bedroom freehold semi and detached villas. The villas come fully furnished.
| UNIT TYPE | GROSS LIVING AREA | PRICES FROM: | |
| Villas |
|
||
| 1 bedroom | > 50m² | £55,000 | |
| 2 bedroom | >76m² | £75,900 | |
| 3 bedroom | SOLD OUT |
The Facilities
On site facilities include large communal swimming pools, children’s pools, bars and restaurants, tennis courts and BBQ areas.
The Last Wind resort is situated right next to Musipan Theme Park, the largest Theme Park on Margarita and indeed in Venezuela. The park is designed for both adults and children and attracts thousands of visitors per day. Since its launch it has been a huge success, drawing families from the mainland of Venezuela and from further away.
There will soon also be a Casino available which will add up to an attractive investment opportunity.
Rental Programme
Located next to the theme park, visitors will for the first time have the opportunity to stay in a tranquil beach front location next door to the country’s largest attraction.
There is a 10 years rental programme available. The first 2 Years offer 8% NET rental guarantee, remaining 8 years profit sharing with hotel operator. From year 2 and onwards, the rental company will give owners 45% of the revenue which is NET. The rental of the property will be based on the square metres of the property.
Owners are entitled to 4 weeks of personal usage per year.
Purchase Details
To reserve a villa a £2,000 reservation fee is required. 50% will be required within 28 days less reservation fee. The remainder of 50% is to be paid upon completion.
All client funds will be held with Rowlands Solicitors who are a UK based company.
10 year non-status mortgage is available at 50%, with a fixed rate of 9%.
There are no legal fees to be paid.
No maintenance or services fees for the first two years.
Construction is well under way with completion winter 2008/09.
The closing costs are likely to be in the region of around £250 which can be added to the mortgage.
Freehold ownership.
Click on the link to request a Due Diligence Report conducted by a leading hotel group.
Hot Properties Worldwide is an authorised sales representative of Last Wind
