Isla Margarita 'very beautiful and very cheap'
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The Venezuelan island of Margarita has been described as "very beautiful and very cheap" and highlighted as having particularly low property prices in comparison to other Caribbean islands.
According to the Irish Independent, "investors should be queuing up to get served" in Isla Margarita, where property can yield high rental returns over a number of years and can increase in capital value by as much as 100 per cent over the next five years, claim local authorities.
Isla Margarita is easily accessible from Caracas and has become a favourite haunt of wealthy Venezuelans.
The tropical island is generally sunny and dry and enjoys temperatures ranging from 24 to 37 degrees Celsius, drawing a stream of tourists.
PropertyAbroad.com recently said that Margarita is an "ideal location" for buyers to invest in property and that it offers good buy-to-let opportunities.
Les Calvert, a spokesperson for the property company, said that average prices start at around £30,000 for a brand new property and are much lower than in neighbouring Caribbean destinations.
"The Caracola Beach and Spa Resort is the most prestigious resort on the island, if not the Caribbean, and with Margarita's low prices it makes an ideal opportunity for first time investors. With purchase prices starting from just €79,000 and 30% deposits of just €23,700, this is an excellent overseas investment," Ben Ross, Emerging Earth.
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