Will there be a land grab in the Falkland Islands? Geologists believe up to 60 billion barrels of oil lie underneath its coastal waters in the South Atlantic. To put that into context one of the world's largest reserves, Saudi Arabia's Ghawar oilfield, has 80 billion barrels. That dwarfs the 5 billion barrels in the North Sea's largest field, Fortis.
Already the Falkland's capital, Port Stanley, is filling up with oilmen and equipment for exploratory drilling. If the Falklands do become the islands of black gold, then its property market may surge as the demand for accommodation from oil workers rises, and others come down to sell them goods and services.
Investors might be inspired to buy property, but it's possible Argentina might try to get there first. There are property-based investment opportunities for entrepreneurs too. For those tempted by life in one of the world's remotest spots, a Falklands bed and breakfast property, Darwin House, is on the market for GBP300,000.Even if not much oil is found all the publicity might help the island's small tourism industry.
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