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Isla Margarita, VZ, 2010
Old 09-19-2010, 09:22 PM   #1
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Isla Margarita, VZ, 2010

Some may remember a few years back threads on Margarita Island off the coast of Venezuela. It always looked interesting to me, but problems seemed to be developing and it slipped down my list. At the time, one of our members defended it strongly. Since then the Bolivar has been devalued by a factor of about 2000 and there have been other developments.

One of the most interesting web sites about the island has always been Living, retiring or moving to the tropical island of Isla Margarita or Margarita Island, Venezuela which is the site for a vacation rental spot. It is kept current.

The property is now for sale. http://www.islamargarita.com/islamargprop.htm One wonders. Is the owner too frail to continue the business, or is he bailing and retiring to safe old Long Island as John Howells, the author who promoted Mexico and Costa Rica for retirement in his books, is said to have done. (No problem with John. I learned a lot from him.)

There is another interesting blog from the country, 2010 September The Devil’s Excrement , which tells about happenings in VZ. Since the author does not think that Chavez walks on water, obviously he is a counter-revolutionary and will be shot any day now. Dissent is treason, as all men know.
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Old 09-19-2010, 09:50 PM   #2
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I'm surprised anyone would consider relocating anywhere under the jurisdiction of the current Venezuelan government, much less buying property there...
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Old 09-20-2010, 07:49 AM   #3
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Nice to catch up with current state of life on the island. We visited a few years ago, renting a car in Caracus and driving south to catch the ferry across. Foreign land/home ownership seems to be filled with horror stories even if you could "set your self up" in your compund - that makes for a small fish bowl.
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Old 09-20-2010, 07:50 AM   #4
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REW, I agree. Still, some would say it is OK. I will heed my Venezuelan expatriate friends and watch from a distance. It is interesting to see the situation evolve over time, though. One day they may come to their senses.
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Old 09-20-2010, 11:19 AM   #5
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Margarita Island is not even a preferred place to retire for Venezuelans, much less foreigners. It wasn't a top location for locals to vacation. Its a tax free port where Venezuelans go to shop, eat, then leave.

Quote:
We basically have a desert climate with long periods of little or no rain and low humidity
is real estate speak for "chronic water shortages" . Together with "chronic power shortages", living there is certainly "off the beaten path".

Some folks might enjoy it there, but I'd wait until the currency became freely convertible and private property once again constitutionally protected.

There have also been persistent rumors that it is also a transit, meeting and re-documentation point for some non-western folks that are not welcome in the US or EU but want to go there anyway.
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