Thread: margarita isle
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  #57  
Old 03-07-2008, 05:10 PM
andyintheworld andyintheworld is offline
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Join Date: Jun 2008
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The price increases make sense to flipping then - as long as - as you say - you can sell on.
I have lots of experience in Mortgages both in the UK and overseas and know the products available in Duabi, the Dom Rep and the rest of the Caribbean. But - the Venezuelan banking system is vastly different and this is something I dont see happening for a long, long time - if ever.
Id love to be proved wrong on this - I really hope I will be - but I cant even see how they can offer mortgages to expatriates.

Local currency is "locked" and pegged against the dollar.
Mortgage rates for residents start at about 10% interest and go to 70% Loan to value, but are only available if you have lived and worked in the country for at least two years.

There are a couple of agents kicking about on the forum who live in Margarita - perhaps they can elaborate on the future possibility of expatriate mortgages?
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