Why is it profitable to buy real estate on the island of Margarita?

Why is it profitable to buy real estate on the island of Margarita?
– The charm of the Caribbean climate is one of the main advantages: summer all year round, average temperature of 27-29C, 320 sunny days a year, clean sea and air. There is practically no rainy season here. And the hurricanes and earthquakes Margarita avoided because of its favorable geographical position.
– The island has a diverse flora and fauna, mountains and beaches, forests and mangroves.
– There is a whole infrastructure in the cities of the island: good roads, shops and supermarkets, entertainment centers, banks, casino restaurants, clinics, schools and kindergartens. Margarita is a duty-free zone, here low prices for products, almost free gasoline – 47 kopecks per liter (!), Low taxes, social medicine.
– Because of the large number of tourists, the atmosphere of the holiday reigns on Margarita. And with security here, too, everything is in order: the presidential police Guardia National (Guardia Nacional) controls that in this tourist place there were no problems.
– There are many Europeans (Germans, Canadians, French, Hungarians) living on the island, as the procedure for legalizing foreigners is simplified. Foreigners perfectly get on with the local, as the islanders are exceptionally friendly and non-conflicting people.
– There is no such thing as a “low season”. Tourists come all year round. Therefore, the demand for housing is always there. Even if you yourself do not intend to live here permanently, you can rent your home at a time when you are absent.
– Prices for real estate in Margarita – is still very low. Here you can buy a house by the sea from $ 1000 to 2000 per square. meter. For example, apartments with furniture of 200 square meters can be bought at the price of a 2-room apartment in Moscow (200-250 thousand dollars)! The villa you will find for 200-300 thousand dollars, and luxury real estate – for 500 thousand dollars. In other countries of the Caribbean, everything is much more expensive. For comparison: in the Dominican Republic or Aruba, the houses cost $ 2000-3000 per 1 sq. M, in Bermuda or the Bahamas – $ 4000-5000 sq. M, Puerto Rico – $ 3000-4000 sq. M. The crisis almost did not affect the real estate of Margarita. The island is very popular with tourists, and their number increases every year. Experts are sure that the market will develop actively, and prices will only grow.
– Property tax – scanty (for example, at home – about $ 50 per year). There is also no compulsory real estate insurance. Sale of real estate in Venezuela is supported by the state. A potential buyer, like any tourist (from Russia) can freely stay in the country without a visa for 3 months.
– Construction materials and labor on Margarita are cheap. Because building a house is more profitable than buying a ready one. The only thing to consider is that the quality standards of local workers are much lower than those of Europeans. Therefore, to select a team of builders should be very carefully.

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