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Britons considering selling up and enjoying an expatriate life in the sun have been advised to look to Margarita Island.
The Caribbean Island, which is the largest island in Venezuela’s Nueva Esparta state, is expected to attract around half a million visitors over the course of 2009, with most attracted by the picture-postcard beaches and year-round good weather.
However, for the lucky few who are able to invest in a property there, Margarita Island is being tipped as the next big thing in the Caribbean.
Announcing the launch of a new off-plan development there, Les Calvert, managing director of Property Abroad, stated: "Margarita Island is a very promising new emerging market. It is the only Caribbean island outside the hurricane belt, and the climate is hot but not too hot all year round.
"Property prices are very reasonable considering the tourism figures, which rose by between 300,000 and 500,000 per year between 2004 and 2008 and are expected to continue to rise strongly in 2009."
Mr Calvert explained that property prices are likely to soar over the coming years, particularly if plans to build a Formula 1 racing track on the island get the go ahead.
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