Isla Margarita 'top' for long-term investment
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New research by property firm David Stanley Redfern has revealed that the Venezuelan island of Margarita is one of the top five places in the world to buy property for long-term investment.
According to the property investment specialist, housing on Isla Margarita, located off the north coast of Venezuela, is likely to be worth between 50 per cent and 100 per cent more than it is now in two year's time.
Furthermore, rental yields are expected to increase from six to eight per cent to between eight and 12 per cent by 2010.
Isla Margarita, known as the 'pearl of the Caribbean', is the only island in the region that sits outside the hurricane belt and is also now the cheapest destination to buy property in the Caribbean.
Caracola Beach and Spa Resort is considered to be particularly "investor-friendly", offering property buyers a seven per cent net rental guarantee for ten years, which can increase to 8.25 per cent if there is at least 75 per cent occupancy in the fifth year.
"Properties on Caracola, in Isla Margarita, offer the usual expected high short-term gains that are associated with off-plan property.
"That these gains are enhanced by the long-term investment prospects in Margarita allows the purchaser even greater flexibility of timescale for their investment," Matt Legg, Emerging Earth.
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