Formula 1 comes to “La Isla Magarita” and Property Investors are Aplenty with 25% Capital Appreciation Expected on Completion in October 2007

Property investors are certainly aplenty on La Isla Margarita in the Caribbean, as the new formula one track takes shape and officially joins the international circuit from October 2007. An estimated investment of 1000 million US Dollars is set to transform this island and push tourism figures to new heights and shrewd property investors already buoyed by the burgeoning Caribbean property market are buying off plan as this emerging island is expected to fall into line with its more affluent neighbours of St Lucia and Barbados.

Located 40km north of Venezuela and boasting over 340 days of sunshine a year, La Isla Margarita is a mountainous tropical paradise surrounded by the better known islands of the Caribbean. Renowned as the world’s main source of natural pearls this tax free island offers over 164km of sandy beaches and benefits from both the calmer Caribbean Sea and the Atlantic Ocean.

IMOINVEST now have pleasure in bringing to the market ‘Viento Y Aqua’ (Wind and Water) which is just 25 minutes away from the international airport and offers direct flights from Gatwick and Manchester. This superb new development is already under construction and is due for completion in September 2007. It will offer a selection of one, two and three bedroom spacious apartments all built to the highest standards and coming to the market with fully fitted kitchens and air conditioning as standard. The facades of the development will exhibit a Caribbean rustic style stone work on the exterior and the onsite facilities will include a communal swimming pool, landscaped tropical gardens, children’s pool, playground, bar, restaurants, BBQ areas, security and on site parking. Situated just 800 metres from Playa el Aqua the most popular white sand beach in the north east of the island there are a whole host of facilities available including bars, restaurants, boutiques, water sports and of course miles of beaches surrounded by tropical waters.

Julien Lu Regional Director of IMOINVEST says, “La Isla Margarita is a strong investment opportunity and undoubtedly the excitement being generated by the forthcoming Formula one track is one of the major reasons behind this islands growing success. However don’t be fooled into thinking that the Formula one’s decision to race here is the only reason to invest in this buoyant market. La Isla Margarita has perhaps been overlooked for too long as other more dominant islands such as St Lucia and Barbados have often being associated as the ‘well to do islands’. The truth is the Caribbean as a whole is doing extremely well as an entire market and it was only a matter of time until the smaller islands caught on to the growing demand for this area. With tourist numbers increasing each year in the region there has actually been a shortage of quality accommodation in order to satisfy demand. Therefore islands such as La Isla Margarita are coming into their own as they provide quality accommodation but at a fraction of the price of the more well known islands.”

Julien continues, “Viento Y Aqua is all set to achieve capital appreciation of up to 25% upon completion in September of this year and if you add to this a guaranteed rental income of 10% for two years and the proposition looks even better. The guarantee is backed by the region’s most prominent property developer with an onsite local management company to look after your property. The current conservative approach to the islands future is already putting capital appreciation at 10% per annum. Anyone therefore investing at this off plan stage are assured a sound investment and with Formula One racing just around the corner la Isla Margarita is assured of an international presence.”

Prices start from just £36,791 for a one bedroom apartment and £115,160 and above for a premier three bedroom apartment.

For a complete list of Venezuela Properties available through IMOINVEST please click HERE.

(PHOTO CAPTION: Viento Y Aqua on Isle de Margarita available through IMOINVEST)