The stunning Caribbean island resort of Isla Margarita off the coast of
Situated in the
Unsurprisingly, now that Isla Margarita has been more widely discovered, it is enjoying a booming period of tourism interest and this has kick started an emerging and highly successful property market.
High end opportunities
Increased tourism is having a very positive effect on what is already a strong economy. GDP growth rates in Isla Margarita averaged 11.3% per annum between 2004 and 2007 for example, and now that the location’s property market is really beginning to emerge strongly, there is nothing to suggest that these strong levels of growth won’t continue.
Mark Andrew, Sales Director of international real estate agency Emerging Earth and an expert on the Isla Margarita real estate market, commented: “Property investors are being particularly attracted to the high-end opportunities on the island where tourism interest is more intensely focused.
“At the moment there is a deficit in terms of the supply of suitable condominium accommodation in higher end resorts, and demand is exerting upside pressure on the real estate market, making strong capital growth and rental yield figures realistic and achievable.”