Vol 7 No. 22 - February 21, 2007

Martinique condos are totally turnkey

By Louise Bolger

sun staff writer

In the eastern Caribbean Sea, there is an island called Martinique. The official language is French and the Euro is the form of currency. On Anna Maria Island on the Gulf coast of Florida is another Martinique. It’s official language is English and the dollar is itsform of currency. And best of all, the views from Anna Maria’s Martinique are sensational, and you don’t have to go through airport security to get there.

Martinique North and South condominiums are comprised of two high rise buildings, the only ones on the Island, and are located at 5200 and 5300 Gulf Drive in Holmes Beach. The buildings date back to the early 1970s, and are located directly on the Gulf of Mexico with a variety of water views based on location.

The apartments vary in size ranging from 800 to 1,300 square feet and can be either one, two or three bedrooms. Unit owners are assigned parking in either a one or two car garage or a carport. Amenities include tennis courts, heated pools, clubhouse, screened balconies, secured lobbies with phone entry and elevators.

When I first wrote about the Martinique condos in August of 2001, units were listing between $210,000 and $359,000 with sales as low as $135,000. As of this writing, there are 10 listings ranging from $599,000 to $899,000, priced according to size, location and condition. In addition, because of today’s unpredictable real estate market, some of the units for sale have very attractive buyer incentives attached to them including cash bonuses and vacation packages.

Sales during 2006 were practically non-existent. One was recorded in Martinique South in May for $509,900 and another in Martinique North in April for $650,000, both were two bedroom, two bath. This year has no recorded sales to date.

Nevertheless, Martinique continues to be a great place to live, especially for snowbirds. It is totally turnkey, so when you leave for the season, you lock the door and go. Units are frequently sold furnished with fully supplied kitchens, also a nice feature for part time residents. In addition, if you’re an investor, buying in an oversupplied market affords many opportunities, especially for beachfront property.

Since the Martinique buildings were constructed, the city of Holmes Beach has instituted height restrictions. If you like the idea of living in a tall building and the views from the top, Martinique is your only choice on Anna Maria Island. It may not be in the Caribbean, but you can bet dollars against Euros you’ll feel like you are.

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