About Margarita Island
A poperty buyers guide
Margarita Island
White sand beaches, 340 days of sunshine, natural parks, Margarita Island is an idyllic Caribbean getaway.
The Island
Useful information on flights, amenities and a guide to everyday living on this magical Caribbean paradise.
Finding a Property
We are proud to offer a variety of property on Margarita from apartments to beach side spa villas.
The Purchase Process
How do I buy? Information on taxes, legal fees and any other associated costs with buying on Margarita.
Growth & Rentals
Looking to invest for capital growth and rental returns? It’s time to consider the exciting property market of Margarita.
The Island
If you like the beach, Margarita Island is a lovely place to be. It has the attractions of the Caribbean; perfect weather, sandy beaches, lush mountain scenery without the high Caribbean prices.
Officially part of Venezuela, Margarita is actually more like one of the Caribbean islands in attitude and lifestyle and it is much cheaper.
Flights
From the UK
First Choice fly out of Gatwick (all year round) and Manchester (March to October) direct to the Island. A package deal is not necessary. Margarita's time zone is -4 GMT in the winter and -5 GMT in the summer.
Situation
Part of Venezuela, located in Caribbean sea
Population
420,000
Official Language
Spanish
Government
Federal Republic
Hugo Chávez (President)
Land Area
1,020 km²
Capital
La Asunción
From Europe
Air France, KLM, Lufthansa and others also offer the same. Charter flights are available with many airlines, and can offer a cheaper and direct alternative.
Currency
Venezuela’s currency is the Venezuelan Bolivar (Bs), which is divided into 100 centimos.
US dollars are the most favoured foreign currency and we recommend having cash and travelers cheques in US$. Dollars are widely accepted in many shops and restaurants as are travelers cheques and credit cards.
Exchange Rates
Exchange rates do fluctuate but you can look to get around:
- £1 = Bs4350
- $1 = Bs2150
- €1 = Bs2950
Almost any foreign currency can be converted in the islands banks, exchange houses and hotels.
Please Note
On 1st January 2008 the national money went through a currency change to the new Bolivar Fuerte which takes three zeros from it's current value. As an example a Bs50,000 note will now be BsF50.
The Scotsman newspaper details the full reasons behind this change which you can read by 
clicking here.
Cost of Living
Real estate isn't the only good buy here. Margarita's duty-free shops offer good buys on French perfume and lingerie, Italian handbags, Colombian emeralds, Swiss chocolates, and handmade suits.
The cost of living on Margarita Island is so cheap that it takes sometime to comprehend. You will be asking yourself “why didn’t I come here sooner?”
Petrol
Venezuela, being one of the largest producers of oil, means that petrol is the cheapest in the world. Venezuela is the only country where petrol is cheaper than water! 80 litres will cost around £1.55.
Dining Out
You can have an elegant dinner with wine at a fine restaurant for as little as £9 per person. Dinner at a moderately priced restaurant is £3 per person. Hotel rooms are from £15 a night. (Prices are the same year-round; there is no high season.)
Fish is an island speciality. A typical meal for 2 starts at £6 in an average restaurant. Expect to pay between Bs700 and Bs2,000 (15p-50p) for a bottle of beer. A bottle of wine with your meal will set you back £1.20.
Travelling Tips
UK mobile phones will not work on Margarita. To get around this we would recommend purchasing a local SIM card (for around $20) and using that in your existing phone. Alternatively public phones operate with prepaid phone cards, which can be bought in any libraries, chemists and many shops.
The primary language is Spanish (South American). However like most tourist areas, English is widely spoken.
You do not need a visa for visiting Margarita as long as you stay not more than 90 days.
The voltage in Margarita and the rest of Venezuela is 110V. Plugs are the same than US standard plugs.
Many of the leading international car rental agencies are represented on the island. To rent a car, you must be older than 21, have a valid license and a major credit card (Visa or MasterCard). It’s strongly recommended to ask for a full coverage insurance. Driving is on the right hand side.
Prices range from the US$30 to US$50 per day all included depending on the car and the length of your rental. Whether you pay in cash or by credit card will also affect the price (local banks have high merchant charges for credit cards). You will usually need the card for the deposit but can then pay in cash. Any valid foreign driver's license will do. You should always carry your passport and driver's license with you while driving around the Island.
Taxis are not so expensive. Nevertheless, it is always a good idea to agree on a fare beforehand. A 10-15 minute taxi ride should be around $5.
Health
Like many countries (including the UK), Margarita Island operates a dual system of both public and private medical care. Treatment and resources at private hospitals and clinics on Margarita Island and across Venezuela is generally good, although provisions are scarce outside of the major resort areas to the east of the island. Public hospitals and clinics generally provide a lower level of care, and basic supplies at such facilities may be in short supply.
Vaccinations
A vaccination certificate is not necessary for entry to Venezuela or Margarita Island. However, it is advised that you ensure that all primary courses and boosters are up to date.
