Overseas Property News

Margarita

Margarita the Latest Property Investment Phenomenon

Margarita is the latest location to be added to the David Stanley Redfern Ltd portfolio of international property. There are so many good things to say about the Caribbean island of Margarita, it is hard to know where to start.

Margarita is one of the few Caribbean islands outside the hurricane belt, and property on Margarita is less expensive than any other Caribbean island. The Dominican Republic has become big in the investment world, as the cheapest place to buy a Caribbean beach house, but that hot-spot is now inhabited firmly by the Isla Margarita.

Margarita is one of the few truly early-bird investment opportunities on the global market, and people who get in now will be able to sell in 4 years for twice what they paid, maybe even do so in just under 4 years. That was Liam Bailey of David Stanley Redfern Ltd's market forecast for Margarita. The head of international research went on to explain his basis for such a strong prediction:

"A property near a Caribbean beach at these low prices, properly marketed, possibly by a holiday lettings firm, lets you charge less than competing properties elsewhere in the Caribbean, while still getting at least an 8% yield, possibly even as much as 12% or more. Visitor numbers to margarita have been increasing by 300,000 - 500,000 per year since 2004. On the back of the increasing tourism, Margarita's average GDP growth has been 11.4% per year over the same period."

"As Margarita emerges as the next hot holiday destination," he continued, "the developing tourism industry will continue to spread affluence throughout the island, living costs will rise including building materials, wages will rise including builders and labourers, and house prices will be driven up rapidly. Given the low starting point, rapidly means by at least 30% per year, based on similar locations in recent years, making doubling your money in 4 years, actually, quite a conservative estimate."

As Liam mentioned, Margarita is the most affordable place to buy a property in the Caribbean. David Stanley Redfern Ltd, are currently marketing a development of 2 bedroom fully serviced apartments, priced from just £44,000 in the Bahia De Coche Development.

The one thing people could consider a downside of Margarita, is the fact that the island belongs to Venezuela, what with Hugo Chavez talking about expropriating property, or regulating secondary house prices etc. All the developments David Stanley Redfern Ltd currently have in Margarita, are either Condominiums or Hotel apartment complexes, making them exempt to any ludicrous law Chavez imposes.

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David Stanley Redfern Ltd is an overseas property specialist, working directly with developers in more than forty countries. Most properties are exclusive to David Stanley Redfern Ltd, giving an unparalleled selection of resale and new builds. David Stanley Redfern Ltd is AIPP accredited.

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