margarita isle

[Pharaoh]

Not at all safe. Tourist assaults and incidents are rising steadily. In yesterdays .:: EL SOL DE MARGARITA ::. a French lady was killed in her own HOME.
Today a fisherman was shot dead in Porlamar !
The owner of a well known shop, was realeased today after 81 days kidnapped !
The agents dont tell you that do they !!

.:: EL SOL DE MARGARITA ::.

Another good site is this Bienvenidos a Veneconomía
Tells you inflation figures, etc etc
I wish more people would READ up on Margarita BEFORE they decide to part with their cash

[The Great Gatsby]

What do you think of the location where Caracola is being built? Is there much activity yet. Thanks in advance

[andyintheworld]

Will the problem with Caracola not be selling it???
If there ends up being 1200 units as planned - then there aren´t going to be any resales for a very long time and once there are resales, surely oversupply of the same types of apartment in the same complex is going to dilute the prices as everyone tries to exit????

That would be my major worry.

So far as crime figures etc - same as most holiday locations. Every day in every resort there is crime.
I lived and worked in Caracas for 2 years - I was security conscious of course - but had no problems at all and its apparently a lot more dangerous there.
Dont go anywhere lonely - alone. Dont wander around covered in Bling! Use your common sense like you would if you were in any foreign country.

I visit Margarita regularly as well as many other places in the region and have family in the peninsula.
Personally I think the best investments there are resale apartments. Off-plan projects are looking a little over priced now, although there are still some excellent opportunities. The problem with is they are marketed and priced for Europeans who have Euros.
This is not only obvious to those that know the local market but I have heard this from the horses mouth - last time I was there I had a meeting with more than one agent/developer who would not give me bolivar prices for their properties because they were for expats.

When I compared the Euro prices with the bolivar prices (easily obtained from the promotion booths in Sambil Mall) there was quite a mark-up.

The best deals come from researching the island, getting out there and getting to know the place. If you can get someone (preferably a Venezuelan) to put your offers in on properties then you will achieve realistic prices.

Money exchange generally isnt a problem - I´ve moved money in and out on the black market for years with no problems. I have a trusted lawyer who does this for me and a broker in Caracas who I have used in the past.

[The Great Gatsby]

Originally Posted by andyintheworld

Will the problem with Caracola not be selling it???
If there ends up being 1200 units as planned - then there aren´t going to be any resales for a very long time and once there are resales, surely oversupply of the same types of apartment in the same complex is going to dilute the prices as everyone tries to exit????

That would be my major worry.

So far as crime figures etc - same as most holiday locations. Every day in every resort there is crime.
I lived and worked in Caracas for 2 years - I was security conscious of course - but had no problems at all and its apparently a lot more dangerous there.
Dont go anywhere lonely - alone. Dont wander around covered in Bling! Use your common sense like you would if you were in any foreign country.

I visit Margarita regularly as well as many other places in the region and have family in the peninsula.
Personally I think the best investments there are resale apartments. Off-plan projects are looking a little over priced now, although there are still some excellent opportunities. The problem with is they are marketed and priced for Europeans who have Euros.
This is not only obvious to those that know the local market but I have heard this from the horses mouth - last time I was there I had a meeting with more than one agent/developer who would not give me bolivar prices for their properties because they were for expats.

When I compared the Euro prices with the bolivar prices (easily obtained from the promotion booths in Sambil Mall) there was quite a mark-up.

The best deals come from researching the island, getting out there and getting to know the place. If you can get someone (preferably a Venezuelan) to put your offers in on properties then you will achieve realistic prices.

Money exchange generally isnt a problem - I´ve moved money in and out on the black market for years with no problems. I have a trusted lawyer who does this for me and a broker in Caracas who I have used in the past.

Just so yo know I am an agent, but am new to the game so am trying to get feedback about the areas im selling. I thought about the exit strategy issue. But as long as you buy a good unit in the teen floors and realize that you have to sell well before the ten year rental ends or well after you should be o.k

Is it a good location though as I am aware that there are cheaper products marketed to the local non-gringo market so is it worth paying the premium? Build quality should be good. What is the build quality like at the mo. I personally would go for the similar project Punta Perla on the Dom Republic as this is a more unique desirable end product especially on Star Island.

[Pharaoh]

MORE BAD NEWS.......CRIME NOW REACHING ISLA COCHE

.:: EL SOL DE MARGARITA ::.

Armed gangs enter hotel at night and rob guests at gun point......


Yeah, Margarita / Coche is really a place to invest !!

[andyintheworld]

Yawn....

name any city, island or location anywhere on the planet and Im sure there is an amount of crime...
Miami, London, Paris, Madrid, Barbados, Cuba, Tenerife, Costa del Sol, Dominican Republic... BRAZIL!!!!! - massive amounts of property investments - any idea of the crime figures in Brazil???!!!!

Stop picking on one place and dredging up any negative press you can find, its tedious and subjective unless you can compare directly with everywhere else.
You obviously have some personal grudge against the place - probably lost some money there no doubts....

[Pharaoh]

Originally Posted by andyintheworld

Yawn....

name any city, island or location anywhere on the planet and Im sure there is an amount of crime...
Miami, London, Paris, Madrid, Barbados, Cuba, Tenerife, Costa del Sol, Dominican Republic... BRAZIL!!!!! - massive amounts of property investments - any idea of the crime figures in Brazil???!!!!

Stop picking on one place and dredging up any negative press you can find, its tedious and subjective unless you can compare directly with everywhere else.
You obviously have some personal grudge against the place - probably lost some money there no doubts....

piss off.......where are you ?
You are just trying to make money................I thankfully got ALL of mymoney out, and in $$$

[andyintheworld]

Who is just trying to make money???
What are you talking about? - I dont sell or promote anything on these forums....

You have also contradicted yourself here:

"You are just trying to make money................I thankfully got ALL of mymoney out, and in $$$"

Earlier in this thread you told everyone not to buy there because:

"But you try and sell and get your money back into sterling or Euros is very very hard........plus you are breaking Venezuelan law (punishable by imprisonment if detected)"

Seems you managed to get your money changed though.... And if you got it out one year ago you lost on the exchange rate - and lost a lot. Which probably explains your bitterness towards the place.

Next time you wish to throw your accusations around and tell people to pi55 off - do a bit of research first - clown.

[Pharaoh]

Originally Posted by andyintheworld

Who is just trying to make money???
What are you talking about? - I dont sell or promote anything on these forums....

You have also contradicted yourself here:

"You are just trying to make money................I thankfully got ALL of mymoney out, and in $$$"

Earlier in this thread you told everyone not to buy there because:

"But you try and sell and get your money back into sterling or Euros is very very hard........plus you are breaking Venezuelan law (punishable by imprisonment if detected)"

Seems you managed to get your money changed though.... And if you got it out one year ago you lost on the exchange rate - and lost a lot. Which probably explains your bitterness towards the place.

Next time you wish to throw your accusations around and tell people to pi55 off - do a bit of research first - clown.

Einstein, I had a $$ buyer for my unit, so had it transferred directly, and a year ago, it cost less to buy a $$ than now on the blackmarket. I dont need research, I lived there for 7 yrs......you ?
And I will say what I like !!

[andyintheworld]

A year ago a dollar cost a hell of a lot more to buy than it does today - NOT LESS

The Bolivar has appreciated against the dollar - I know this because I move currency in and out of the country 3 or 4 times a year and profit on the currency swings.

Your posts about Margarita are completely subjective and your tone is very negative - almost bitter.

"And I will say what I like !!" - saying I am here only to make money is completely incorrect as I have told you - you then tell me to p*ss off? For this - I believe you are a waste of space - I dont come on here to insult or be insulted.

Please buy a box of tissues to wipe away the bile you are spitting - be objective and useful in your posts or just dont bother.

And I am now absolutely positive you lost money in Margarita ....