Investors Set Sights on Margarita Island

With property prices 50% cheaper than other Caribbean Islands and Brazil overseas property investors are setting their sights on Margarita Island, Venezuela.

Christopher Columbus discovered Margarita Island in 1498, the largest island of the Nueva Esparta state in Venezuela, which also comprises the islands of Coche and Cubagua. It is 78 km long and its widest side measures roughly 20 km. The climate is very sunny and dry with temperatures from 24 to 37°C.

According to Michael Johns, CEO of The Right Move Abroad; “With the UK investor increasingly looking to rental based property transactions due to the decreasing yields in the indigenous market, destinations such as the Margarita Islands offer an emerging tourist destination with excellent rental yields due to the urgent requirement for quality accommodation to cater for the surging tourist visitor numbers. With its climate, duty free status and fantastic tourism opportunities, the Margarita Islands will grow in stature in international tourism with El Agua Garden Suites central to its provision of luxury holiday property.”
Playa El Agua is the most popular beach on Margarita Island with 3km of fine sand, an abundance of palm trees, restaurants and bars with the local market even selling a dozen fresh oysters for a dollar! Isla Margarita, also known as “the Pearl of the Caribbean”, has been a significant tourist destination since the 1960s when it was declared a duty free area. Today more than 2 million tourists visit the island every year.

KEY INVESTMENT FEATURES OF MARGARITA ISLAND

• Property is up to 50% cheaper than other Caribbean Islands and Brazil
• Only 15% of Magarita island is developed, yet tourism figures have increased by 40% over the last 2 years
• Booming property market due to a combination of excess domestic demand, strong economic growth and mass tourism which attracts foreign buyers
• Guaranteed Rental Returns due to the booming tourist industry and lack of quality accommodation
• Duty free Island with only 0.5% sales tax and only 2.5% buying taxes in total
• Isla Margarita is the only Caribbean island outside the hurricane belt
• A very low cost of living and excellent quality of life
• Manchester, Birmingham, Gatwick and Heathrow all have direct flights to the island
• Margarita has the best beach in the world for Kite Surfing and hosts the international championships annually. Agreements have been reached to build a Formula 1 circuit on the island which will increase tourism
• Numerous leisure activities popular on Isla Margarita include cruises, deep sea fishing, diving and surfing
• Direct flights are available to Angel Falls (the world’s highest waterfall), the Amazon jungle and other Caribbean islands as well as to the American continent

News submitted by Nick Cowling The Right Move Abroad.