Venezuela has been offering financial aid
to many Caribbean countries. Domenica is now planning a massive
housing project for local people with their help. The UK is
running many of its public services on Venezulean Oil allowing
cheaper fares in London amongst other places.. President Chavez
has flown many Caribbean people into Venezuela
to have eye surgery free of charge.. Financial aid is sent
to many distressed countries by Venezuela El Sol de Margarita Island - New motorway planned to link Pampatar - Asuncion and Juan Griego given the go ahead A 15% increase of tourism is now expected for the months of October and November as Margarita plays host to International Baseball http://www.elsoldemargarita.com.ve/Noticias.aspx?NoticiaId=3008&SeccionId=6 in Spanish Venezuelan Grand Prix The Venezuelan Grand Prix is a project of automobile race track to be constructed in Margarita island, Venezuela and to be inaugurated in October of 2007. The project was approved by the Interior of the State Nueva Esparta, Circuit the Simón International Bolivar and by the National Institute of Deportes of Venezuela, that contemplates the investment of near 1,135 million dollars. [1] The automobile race track will fulfill the requirements demanded by Fédération Internationale of l'Automobile (IT TRUSTS) to make events automobile international, including a Great Prize of Formula 1. The president of the Circuit, Caesar Galeano, had initially presented/displayed projects for the construction of the circuit in other places of Venezuela, such as the Peninsula of Paraguána, in the state Falcon, and Barcelona in the state Anzoátegui. Finally it was decided on the Margarita Island, to count this with one better hotel infrastructure, and for tourist reasons and of security. Of the total investment, 800 million will be contributed by Formula 1, which will be financed by ENTRUSTS it through their vice-president Bernie Ecclestone. The number leaves a margin of participation for the Venezuelan government open, who could contribute through one of the filial companies of his oil state one Citgo. 60% of the investment that will become in this circuit will be into the hands of the National Institute of Deportes and the rest will be private capital, including the support of ENTRUST it. The initial project had calculated a cost of 350 million dollars, in the proposal for design included an international automotive mechanics school, raised originally for Circuit the International of Shanghai and that did not get to be constructed. As it leaves from the project is considered the creation of a Bank of Tourism to mobilize the investments generated from the beginning of activities of the circuit. Also, IT ENTRUSTS it will contribute with the extension of those hotel companies that require investments to offer more and better rooms. There are two sites that are had visualized to construct the automobile race track. One is the Peninsula of Macanao and the other is a land located next to Marine the Santiago airport. The director of Formula 1, ENTRUSTS and the German designer Hermann Tilke they will visit both places to make the final decision and to begin the works. 14th April 2007- A PLACE IN THE SUN A haven of delights plus duty free Island living, especially in unspoilt, sparsely populated sunny climes, is the ultimate dream of many foreign property buyers. The Caribbean paradise of Isla Margarita has all this and more. Island living, especially in unspoilt, sparsely populated sunny climes, is the ultimate dream of many foreign property buyers. The Caribbean paradise of Isla Margarita has all this and more. Sparkling turquoise seas and sandy white beaches fringe an island on which more than three quarters of the land is undeveloped. Owned by Venezuela, it is about 30 miles off the north-eastern coast and provides a great taste of Caribbean life – with added bonus of being out of the hurricane belt. There are only 400,000 inhabitants, but it’s a popular and established spot for holidays (particularly with Venezuelans and passing cruise ships) and saw two million visitors in 2006 and expects 2.5 million in 2007. “The Caribbean and South America, especially areas popular with tourists, are good investments,” says Liam Bailey, from Knight Frank. Until recently, Isla Margarita has been relatively untouched by European property investors, but with properties costing a mere snip compared with those in other Caribbean islands, it’s hard to understand why. “Prices in Isla Margarita are cheap,” “A two-bed furnished 90sq metre villa with a pool and barbeque starts at £44,000. In Barbados, an off-plan studio would cost £200,000. Even in the Dominican Republic, you’re talking £150,000.” The climate here is perfect for those seeking warmth, with year-round sunny weather ranging from 25-32C. Getting there isn’t tricky, with direct flights operating from Gatwick and Manchester, and an additional 18 indirect flights from other UK airports, mostly going via Caracas in Venezuela. Once you’ve bought a property, living here certainly won’t break the bank. “Venezuela is the only country where petrol is cheaper than water,”“Filling up a four-wheel drive with 80 litres of petrol costs only £1.55 and a meal for two costs £6.” The eastern part of the island is more developed, so its not surprising that most of the resident live here, in the capital, La Asuncion, Porlamar and nearby Pampatar. The opportunities for renting property are good, particularly in the 20-week peak season covering Christmas, Easter, Carnival time and summer, as well as from October to March, when Europeans and Canadians look to escape cold winters. The rental potential is six to eight per cent per annum and current figures show capital growth of 32 per cent. Buying is straight forward and cheap, as anyone can own property and there’s no need for residency to live on the island. “Isla Margarita has been a tax, VAT and duty free zone
since the Sixties. The purchaser of a property doesn’t
pay any tax on the purchase, only a normal 0.5 per cent sales
tax, one percent for land registry and $100 for the notary,” he
says. “Plus there’s an annual property tax of about
$100. Isla Margarita is certainly one to watch,” he adds, “especially
with the news that a $350 million Formula One circuit with
race academy will be built shortly. With a great standard of living and fantastic beaches, this island paradise has a lot to offer. 6th August 2007 It's Va Va Voom in Venezuela Even for seasoned overseas property buyers, South America may seem like a continent too far – and Venezuela an outrageously exotic option for an investment or holiday home. But look closely at a map of the region and suddenly the attractions of this classy corner of the Caribbean become obvious. The country, which covers much of the northern coast of South America, has 2,800 kilometers of coastline washed by the same tropical seas as nearly by Barbados and Trinidad. It has all the advantages of the Caribbean islands, yet without the hurricanes. Furthermore, it’s a country that has long been a stable, prosperous part of an often troubled continent, and while other international property markets are faltering as they reach the far extremes of affordability, Venezuela has plenty of room for Capital growth. Venezuela has plenty of room for capital growth. Venezuela was named “Little Venice” by Columbus as the native houses, built on stilts above the water, reminded him of his Italian hometown. The far north-east of the country is also the northern extreme of the Andes, with a high point of nearly 6,000 metres at Pico Bolivar. To the South is the Amazon Basin bordering Brazil, where you can find Angel Falls, the world’s highest waterfall. In the middle are the plains of Los Llanos. Most of the 26 million, Spanish, Italian and Amerindian descended population live along the northern coast, including Caracas, the endearingly chaotic capital city. However, most British property buyers will be looking at Venezuela’s holiday island, Isla Margarita. It’s the largest and most developed of the country’s 72 Islands, and has been described as being like the Dominican Republic – only smarter. It boasts daytime temperatures that vary during the year from 24C to 38C (75F to 100F), yet there is no rainy season. Crucially, it’s outside the hurricane belt that causes so many problems for homeowners elsewhere in the Caribbean. Oddly, Isla Margarita is also one of the largest importers of Scotch whiskey in the world! Venezuela has been a beacon to the rest of South America for many years. While its neighbours suffered coups and dodgy dictators for decades, Venezuela was a democracy. While those same neighbours suffered poverty and low living standards, in Venezuela, they discovered oil – lots of it. Now they can afford to invest in their infrastructure, hospitals, schools and social programmes – and the Head of State (and one of the world last remaining socialist leaders), Hugo Chavez, can afford to openly criticise George W Bush. Luxury indeed! It may be critical of the Western governments, but Venezuela is now enjoying a distinctly capitalist-style economic boom – and Margarita is where a lot of that wealth gets spent. Entry levels prices are under £50,000, sound investment villas can be had for just over 100,000, and you can live in the lap of luxury in a top-spec mansion for under £200,000. The island is 67 kilometres long and 32 kilometres across at it’s widest point. There were a grand total of 1.5 million visitors in 2005 and it is the number one holiday destination for Venezuelans. The city of Porlamar has the usual collection of shopping malls, hotels, restaurants and nightlife, as well as an international airport. The islands capital, Las Asuncion, is set on a hill overlooking its eastern tip. Perhaps the most beautiful town is colonial-style Pampatar, with its pretty harbour. Here you can sit and watch the fishermen haul in their catch before dining on fresh fish in the waterside restaurants. Another fishing village along the coast is west-facing Juangriego, renowned as a place to watch the sunsets over the tropical seas. The crystal waters offer excellent sailing and scuba diving. Venezuela is coming late to the property party, with capital growth of around ten per cent in 2004-05 doubling to 20 per cent in 2006, at the same time as other Caribbean prices rises were slowing down. More northerly Caribbean destinations seem to have priced themselves out of the market. And while Florida’s property boom has hit the buffers, investors have been looking elsewhere for capital growth and seen this equally beautiful – but in many ways safer – place to put their money on the other side of the Caribbean. A simple buying process, based on Spanish Law, the low property-buying taxes (under £200) and the rental guarantees that companies like this offer. “The local hotels are not very high quality, yet still achieve 70 per cent occupation levels. While Spanish is the default language here, many people understand English, which is another advantage. It isn’t just Isla Margarita that looks good for continued growth. According to The Economist: “Emerging-market indicators show that Venezuela is the fastest- growing country in the world. GDP growth is up 11.2 per cent year on year (2005 figures), and it is the only country in the world that registered a double-digit growth rate.”
We'll be hearing a lot more of Margarita. It's almost the Caribbean, properties are cheap and the authorities welcome foreign buyers. There's a new South American holiday-home location being launched the autumn to tempt Britons' demand for exotic overseas property. But despite being a classic location for locals, few in Europe have heard of it. Make it your holiday destination or your home - Margarita Island is definitely an location you should seriously consider for investment and a fantastic place to visit and enjoy with all the family. |
