People are turning to Margarita for investment, says expert
The Venezuelan island of Margarita is growing in popularity not just as a holiday home destination, but also as a good place to invest in property, according to Seven Continent Investment.
Isla Margarita, or the 'Pearl of the Caribbean' as it is also known, is attracting people interested in investing their money in property as other markets closer to home have become saturated, Ryan Chana, senior partner and development manager at the company, has said.
Mr Chana noted that investors who have bought in countries such as Spain may now be experiencing "problems off loading it and selling it and maybe cashing in on any capital growth they have got, so they are becoming a bit more astute about where they are buying".
Isla Margarita is particularly appealing because property can be bought for up to 50 per cent less than on other Caribbean islands, according to the Right Move Abroad.
People buying on the island are also safe from the destruction that hurricanes can cause, since Margarita lies outside of the Caribbean's hurricane belt.
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