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Investment Property in Margarita

Margarita Island is one of Off Plan Property World’s newest and most exciting locations. An emerald gem in the Caribbean Sea, the island lies off the North coast of Venezuela, and is one of the least developed islands of the region, offering completely unspoilt beaches, and beautiful tropical greenery.

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However, the island has more to offer than its climate and scenery alone. For those interested in the history of the region, the island’s capital, La Asunción, is the home of La Catedral de Nuestra Senõra de la Asunción, which is said to be the oldest church in the whole of Venezuela. As well as this, Porlamar, the largest and most commercial city on the island features plenty of restaurants, bars, clubs and shops. The shopping on Margarita Island may be particularly attractive to some visitors, with several designer boutiques, and all purchases being duty free.

As one of the least developed islands in the Caribbean, prices at the moment are extremely low: a litre of petrol costs around 15p, a meal for two is likely to cost no more than around £6, and a three-bedroom beach-front bungalow can cost as little as £50,000. On top of this, investment in Margarita Island has begun to increase significantly, with infrastructure improving, and focus being put on developing the tourist sector.

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Investment Property in Margarita

The location of the island at the far south of the Caribbean is also reassuring to those fearing the violent storms that have racked the Gulf of Mexico in recent years. Margarita Island lies far south of this weather system, well out of harm’s way.

Working closely with many of the established and reputable developers on the island, McLaren International Properties have a strong but varied property database for your perusal.

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McLaren Overseas Property have been guiding the overseas home buyer to the right property abroad now for over eight years. We have seen so much change in the overseas property market throughout the past few years, with new countries entering Europe and exciting new developments within these locations internationally offering property abroad at outstanding value.

Margarita General Information

Average Temperatures

Margarita Climate

UK direct flights to Isla Margarita Porlamar airport last 9 and half hours approximately from Gatwick (every other Wednesday) and Manchester (every second Thursday) with First Choice.

Packages can be purchased to stay in any of the following destinations: Pampatar, Playa Puerto Cruz, Playa El Agua, Porlamar, Playa Caribe, Playa Tirano, Playa El Humo. Please see the website http://www.firstchoice.co.uk
One may find bargain flights from many other holiday companies.

PORLAMAR (PMV) First Choice currently have flight availability from £444 pp on 21st June 07 {example taken, 24th April 07}
Flight prices vary usually from £400 to £800 but some low cost carriers are already flying to other Caribbean destinations so hopefully Margarita will be among these countries soon.
Alternatively one can book a regular flight (with Air France, Iberia, Alitalia, Conviasa, Air Europa, Condor, KLM, Lufthansa and TAP Portugal) to Caracas from any major city and then connect to Isla Margarita with one of the many daily shuttle flights lasting 35 minutes. Flights are available from North America with American Airlines, Delta Airlines, Aeropostal, Continental Airlines, Air Canada

Climate in Margarita

Weather in Margarita Island aka Isla Margarita is conducive for holidaying round the year. The climate in Margarita Island is basically desert type, with long dry spells of little or no rain and low humidity level.
There is minimal variation between temperature averages over an entire year. The maximum daytime temperature fluctuation is only about 4ºC over the whole year.

Daytime temperatures at Playa El Agua on the north coast range from a high of 31ºC (87ºF) in September to low of 26ºC (80ºF) in January.

During night, the temperature drops by around 3ºC. The land wind prevailing over the southern and western sides of the Island (Juan Griego) make these coasts a few degrees warmer than the north and east side, which enjoy the moderating influence of the sea breeze.

In addition, Margarita Island experiences the least of environmental hazards as it falls outside the hurricane zone, with most storms passing over its northern borders.

There are also no volcanoes and the risk of volatile seismic activity leading to earthquakes is very low.
The island seldom receives fog or hail and the rain, and even if it does occur, it is short lived.
The island receives an average of 8 hours or more of sunlight for more than 320 days a year.

Currency

Bolivar. The best tip is to bring US$ in traveller checks or cash. Credit cards are broadly accepted but it has some huge disadvantages. With the foreign exchange laws you pay about 10 percent more if you use it! At the moment you will get approximately 2,150 Bolivares for $1

Cost Of Living

The taxis are extremely cheap and reliable and you can easily rent a taxi a whole day. This is because the price of petrol is extremely low, about $0.05/litre!

Do not rent car because taxi or Por Puesto would surely be considered as a better option. The two reasons to not rent car is:

1. The first one is because it is expensive.
2. The second is because it is also a very lengthy procedure

Business hours

Banking hours are from 8:30 a.m. to 3:30 p.m.
Office hours for some businesses are from 9:00 a.m. to 9:00 p.m. or from 8:00 a.m. to 12:00 m and 2:00 p.m. to 5.00 pm.

Population

approx: 280,946 (July 2007 Est.)

Time

GMT -4 winter/ -5 summer

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