Boom predicted for Margarita Island
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Venezuelan island Margarita is ripe for a property boom and has been described as rich with investment opportunities.
Seven Continent Investment has said that Margarita Island satisfies property buyers on both an investment level and a lifestyle level.
Ryan Chana, senior partner and development manager for the firm, said the island's property market "is growing at around 15 per cent every year. From that point of view it is set for a boom".
He added that the hotels on the island are usually at full occupancy, meaning there is an opportunity for buyers to snap up a beach property to rent out to holidaymakers.
Mr Chana added that although the island has an emerging market, the economy is "very healthy" with 90 per cent of business owned on Margarita geared toward tourism.
Right Move Abroad asserts that property on the island is up to 50 per cent less expensive than similar properties in Brazil and throughout the rest of the Caribbean.
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