Margarita Residences

This superb development on Margarita Island has been designed in partnership with the Ministry of Tourism. Situated within yards of the beach in a southern Caribbean location outside the hurricane belt, this development offers the opportunity to own a property in one of the worlds most beautiful locations. This five star development offers a variety of one, two and three bedroom villas.

The resort benefits from a large communal pool, children’s swimming pool, bars and restaurants. The location adjacent to the leisure park is also an added benefit of the development which also boasts conditions for windsurfing that are thought to be among the best in the world, Last Wind Playa Yaque has been voted 3rd best destination in the world for windsurfing.

Owners have four free weeks personal usage and the benefit of a ten year rental scheme, with the first two years being guaranteed at 8% net, the remaining 8 years will be on a shared basis with the hotelier. The purchase price of this development includes the legal fees and full furniture pack.

Margarita Island is situated in the Caribbean Sea just off the north east coast of Venezuela. In addition to the main island the State also contains two smaller islands Coche and Cubagua. Margarita Island boasts over 50 beaches and coves with 167km of coastline providing a variety of tourist areas and quiet fishing villages. Tourists can benefit from a variety of water sports and the area is popular for scuba diving and snorkelling.

The island can be reached by ferry or plane, with the International Airport just 25km from the city of Porlamar. It enjoys a duty free status which makes it one of the top vacation spots for Venezuelans, popular with the domestic tourist market from July to September as well as Christmas and Easter.

The number of tourists visiting Margarita has soared since the 1980’s with the island now being established as the primary destination for Venezuela’s holiday makers, attracted by the sun, beaches and duty free shopping. According to The Department of Tourism figures, 2007 saw an increase in tourists of 14%. Foreign tourism is also on the increase with the expansion of the resorts on the island.

Margarita is very accessible with the island having its own large International Airport (Santiago Marino) which operates flights from Europe, North America and Canada. We understand that there are also approximately a dozen flights between the island and Caracas together with flights from most of the other main cities in Venezuela. The ferry is often used by locals as it allows them to bring their cars onto the island. The Ferry terminal, Punta de Piedras, offers crossings between Margarita, Puerto la Cruz, Cumana and Trinidad. P&O Cruises now include Margarita islands on their 15 day itinerary and there are several other cruise lines that also dock at the island including Royal Carribean which sails the Vision of the Seas to Margarita Island.

Isla Margarita enjoys one of the most fantastic climates in the world. The temperature only varies by about 4°C over the whole year. Daytime temperatures at Playa El Agua, on the north coast, range from a high of 30°C (86°F) in September to low of 26°C (80°F) in January. Night-time temperatures are about 3°C cooler. The temperatures on the south side of the Island (Juan Griego) can be a few degrees warmer as they receive a land wind while the north side gets the sea breeze. Margarita Island is located outside the hurricane zone with most storms going north. There is no fog or hail and the rain, when it comes, seldom lasts very long. The island enjoys approximately 320 days a year of 8 hours of sun or more.