The overseas property portal Homesgofast.com reports that January 2007 saw enquires for properties located in Margarita and Dubai exceeding those in the usual hot spots such as France, Spain, Turkey Cyprus Bulgaria and Brazil.
Nicholas Marr CEO Homesgofast.com “ Dubai has always been a busy place to buy property abroad but the rise in enquiries for property on Margarita Island was unexpected development for the start of the year “
Property in Margarita
Margarita Island is proving a popular place to buy Caribbean properties at low prices and is also one of the few places in the world where a foreigner can actually own properties with little restrictions for under £40,000. Investors benefit from the islands tax free zone and the growing tourist industry. There is a huge shortage of 2 bedroom properties for rental on the island and with direct flights from the UK Margarita is proving irresistible to investors. Property in Margarita recently made the headlines when England cricket captain Michael Vaughan announced that he had bought a four bedroom Villa with a private pool in Piedra Negara in the north of the island.
“We have been taken by surprise with the response we have had in January we have seen a huge amount of enquires from interested buyers. The types of buyer is also a surprise, they are a mixture of investors and some who are looking to retire to the sun. One buyer said that he found January so depressing in the UK and calculated that he could live very well on his retirement pension in a warm hurricane free environment.’
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Property in Dubai
Property in Dubai has seen a large amount activity with investors being tempted by New Year discounts and in the case of Damac properties the lure of winning a Private jet and a free Jaguar car for every buyer.
Emaar Properties report that the property markets for them are buzzing with activity Emaar posted a record annual net profit of AED 6.371 billion (US$ 1.735 billion) compared to AED 4.731 billion (US$ 1.288 billion) in 2005.
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Author
Carol McDonald