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15/03/2023The real estate market in Margarita Island is interesting
Tourism is growing, but the flow is still far from the golden age of the island. If you want an immediate return on your investment, you should invest in Porlamar, the most populated city. The best areas are Costa Azul with its beaches, bars, and restaurants, and shopping centers, and Playa del Ángel, which stands out as a zone of bars and restaurants, supermarkets, and shopping centers. The nearby beaches of El Yaque, Playa El Agua, Parguito, Playa Caribe, Playa Zaragoza, Punta Arena, Guacuco, Manzanillo, Puerto Cruz, and Playa Paraíso, despite being the top 10 beaches on the island, should not be considered for short-term investment. The beaches of Pampatar and Caracola in Porlamar may be interesting for the medium term. But, if you want to be a pioneer investor, with very little money, you can invest in the mentioned beaches or towns like Asunción, Juan Griego, or Punta de Mangle. Coche Island has a good tourist flow, but prices are not attractive. Coche Island is an arid and tourist island south of Margarita Island. These two islands, along with Cubagua Island, make up the archipelago and Nueva Esparta State in Venezuela. If you want more information, the legal firm Caporaso & Partners in Panama has been present on Margarita Island since 2019. Attorney Giovanni Caporaso Gottlieb can help you, with a brief consultation, to understand why the real estate market in Margarita Island is interesting for small investments.
There are several reasons why the real estate market in Margarita Island is interesting, including prices, location, and tourist attractions
Analizando la situación económica y política del país hace fácil entender porque el mercado inmobiliario en la Isla de Margarita es interesante. Venezuela tiene un gobierno socialista con una economía capitalista controlada. Esto ha hecho que muchos ricos, han decidido expatriar a países como Panamá o Estados Unidos para proteger los grandes capitales. En especial los que están vinculados con la partidos políticos de la derecha, multinacionales e industriales. Esto ha creado una oferta de viviendas de lujo muy interesante.
Además, ha creado un ambiente de cambios económicos favorables, en los cuales muchos extranjeros han encontrado oportunidades de negocios.
The strengths of the real estate market on Margarita Island
- Peaceful and low crime rate: The government has made efforts to maintain Margarita Island as an oasis of peace and tranquility. Crime is almost nonexistent, as well as traffic congestion.
- Free port and competitive prices: The Free Zone of Margarita Island was established on August 16, 1966. There is a tax exemption on all imports throughout the island. This allows for reasonably priced foreign products such as wines, liquors, cheeses, sausages, chocolates, and much more. Additionally, you can buy from Amazon and receive it in Margarita Island by paying a low shipping cost, by volume, and without paying taxes. Prices are so low that hundreds of Cubans come to the island monthly to shop, spending an average of 4,000 dollars each.
- Natural beauty: Margarita Island, with its 41 beaches and 70 kilometers of coastline, is a very popular tourist destination. It’s beautiful Caribbean beaches, warm climate, and tropical landscapes make it attractive to international tourism. Many people find it engaging to live on an island surrounded by crystal waters and white sandy beaches.
- Investment potential: The island has great investment potential due to its growing tourism economy, which means an increasing demand for properties. Many small investors seek to purchase properties on the island as a long-term investment, either to rent out or to resell in the future.
- Good property value: The real estate market in Margarita Island offers a very good value for the price. Despite property prices having increased in the last year due to growing demand, properties can still be found at very low prices compared to other tourist destinations. It is not difficult to find real bargain price or great deals, whatever you want to call them.
Political stability
Despite international smear campaigns, Venezuela has maintained political and social stability, especially in Margarita Island. This has created a favorable environment for investment and real estate development. Additionally, the Venezuelan government has created fiscal incentives to attract foreign investment on the island, which can make it easier and more attractive for foreigners to invest in properties.
What are the construction prices on Margarita Island?
Due to the economic and political situation in Venezuela, construction prices can vary widely throughout the country and may change. The incredible thing is that luxury properties can be found at prices per square meter lower than the construction cost.
The average cost of building a single-family home of 100 square meters can range between USD 50,000 and USD 100,000, depending on the position, design, and materials used.
The average price of building a 70 square meter apartment can range between USD 30,000 and USD 60,000, depending on the location, design, and materials used.
It is important to keep in mind that these prices are only a general guide and can vary significantly depending on location, materials, and market conditions in Venezuela
Where to invest on Margarita Island?
Tourism is growing, but the flow is still far from the golden age of the island. If you want an immediate return on your investment, you should invest in Porlamar, the most populated city. The best areas are Costa Azul with its beaches, bars, and restaurants, and shopping centers, and Playa del Ángel, which stands out as a zone of bars and restaurants, supermarkets, and shopping centers.
The nearby beaches of El Yaque, Playa El Agua, Parguito, Playa Caribe, Playa Zaragoza, Punta Arena, Guacuco, Manzanillo, Puerto Cruz, and Playa Paraíso, despite being the top 10 beaches on the island, should not be considered for short-term investment. The beaches of Pampatar and Caracola in Porlamar may be interesting for the medium term.
But, if you want to be a pioneer investor, with very little money, you can invest in the mentioned beaches or towns like Asunción, Juan Griego, or Punta de Mangle. Coche Island has a good tourist flow, but prices are not attractive. Coche Island is an arid and tourist island south of Margarita Island. These two islands, along with Cubagua Island, make up the archipelago and Nueva Esparta State in Venezuela.
If you want more information, the legal firm Caporaso & Partners in Panama has been present on Margarita Island since 2019. Attorney Giovanni Caporaso Gottlieb can help you, with a brief consultation, to understand why the real estate market in Margarita Island is interesting for small investments.
