SXM Condo market past it's prime?

Every bubble bursts eventually and SXM's real estate market is primed for a big pop, the signs are everywhere. Most of the buyers of the ridiculously high priced condo's going up everywhere are assumed to be from the US where the housing loan market is suffering and defaults on mortgages rising.

Aquarius, Westin, Barbaron, Shore Point, Rainbow, Cliff, Cupecoy Yacht Club, Millenium, Indigo Bay, Blue Marina, The Cove, Caravanserai, Pelican Marina and Mullet Bay, to name a few of the most recent and 'under construction/planned' projects, are all targetted at the same dwindling number of clients who can afford what they offer.

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A local real estate agent informs me that sales are slow all over, at Westin, Aquarius and others, hardly surprising considering what's on offer and the prices. If you want to spend $1/2 Million, which is an average price for a concrete box surrounded by other concrete boxes, then you may as well go buy a piece of land and build one without the neighbors. I guess some people just like living in boxes.

Purchasers are told that they can join rental pools and this will help them pay for the mortgage, but when you add 2000+ units to the market, this dilutes the amount of time your unit is going to be rented out. Some people are going to be left over extended and if the US does enter a major slump, which there are signs that it could, then they will be in trouble.

Indigo is trying desperately to get some movement behind it's project, now claiming to be enviro friendly, something we have heard so many times before from greedy real estate developers. This comment is worth a read and here is Indigo's website.

Below are a few photos from Cay Bay. The first is from about 1950's or 60's, before the hill road was built.

These two are from 1995, before Hurrican Luis washed the beach away.

This is from October 2006 when they started clearing the land.

These are from last week, the whole valley has now been cleared in the same way. You can see the few trees that Indigo have decided to save. Also, note the big pile of rocks by the beach, an back hoe was observed working down there. Is it legal to remove materials from a beach?

More on construction projects around the island can be found in the Development and Destruction Thread.

LH

SIMARC conducts archaeological test in Cay Bay ordered by VROM - 28th June 2007

Local Hero's blog | add new comment

Submitted by Local Hero on Mon, 2007-06-25 12:50.

US housing and mortgages
Caribdude | Tue, 2007-07-03 01:43

SXM Condo Market
Anonymous (not verified) | Tue, 2007-06-26 22:02

To Local Hero and others involved in the environmental movement:

The food on your plate, the credit card you use and the house you live in came from those same developers you are scolding. Obviously you are not making any money on having a business exporting products or by farming. A true St. Maartenaar does not work hard, does not produce, does not innovate and does not add value. It only recieves.

All those things just mentioned comes from.......................foreigners.

You guys praise the French side for its many rules and high taxes. You obviously do not live on the French side and pay those taxes. You obviously do not live in a tree hut but in an actual house in which the environment had to make way when it was constructed. So why is it ok for your house to be constructed and not that of your neighbor? You obviously drive in an SUV as you do not like walking.

Yes the French side is more regulated, it is greener and there is more building code enforcement. On the other hand, all the poor French are working illegaly on the Dutch Side while recieving French welfare) and the rich French are hiding their money en masse on the Dutch in such amounts that Sarkozy is making its personal agenda to get those guys. The French Side economy is virtually dead, and if it wasn't for the French Cash Flow emanating from Paris we would face a Haitian uprising.

So in other words: Developments are a blessing: Without developments SXM would be just another drug trafficking state. And an alternative for the current economy model? Don;t expect any ideas from the true locals nor from the green movement..

SXM Condo Market: Gone Too far
Anonymous (not verified) | Wed, 2007-06-27 08:31

As I agree with your assessment of the state of the french side and the dutch side and the need for progress, however I do NOT agree with your scolding of the locals. Not all locals support the ideas of the persons you are obviously attacking, neither do I. Just remember that all progress need to be weighed for pros and cons and lastly the quality of life of the citizens must be number one in this review.

Last thoughts from me, remember keep your respect cause the same locals will eventually kick your foreign ass out and I will be with them!

As usual
Local Hero | Wed, 2007-06-27 01:22

The attack comes with the charge that environmentalists, and people concerned about what they see as OVER DEVELOPMENT of the island, are cast as being against all developerment and hypocrites for not living in tree huts.

I'll keep it real simple for you. The development of the island is by far outpacing the labor capabilities of the island, hence the huge amount of immigrants here. Do you know that the Westin has Filipino workers now, our education and social failures clearly leave the youth of the island uninterested and uncapable of filling those jobs, right?

Just how much development can a small island that depends on tourism take before it becomes unattractive as a destination. Build build build is not progress, it is a false economy, this island is a begger island. Every classroom built is built with USONA aid money, our schools don't even have books on hospitality.

Booming economy? Where? It's a false economy and when the island starts losing the visitors it's had for years because it's too crowded, too polluted and crime ridden then who 's going to stay in those condos?

Who is praising the French side? Because there may be a tax or law that someone here agrees with, it does not mean that that person proposes the whole French system be adopted. Don't talk nonsense.

The 'booming' real estate market is not bringing any long term benefit to the people of the island, it offers a limited future to its youths and combined it is depriving not only the govt of a great deal of money, but also the opportunity for people to own land in their own country and home.

Tax foriegn owners? Damn right they should be taxed.

LH

A true st. maartener
Anonymous (not verified) | Wed, 2007-06-27 00:20

I won't touch the environmentalist attack except to say that you got it wrong.
No one is against development. The ones that speak out do so against uncontrolled, unregulated and destructive development.

The French side economy is right now controlled more by the strength of the euro than anything else. Anyone that has been around long enough to know WTF they are talking about, knows that the Frenchside and Dutchside have up until now developed in alternating cycles. Five yeras ago the French side was booming and the Dutch side as dead. Now it is the reverse. Come on back in a couple of years and I'm sure that things will have changed again.

While you are making your sales pitch to your potential victim please be sure to mention that after SXM receives it's new status their up until now tax free holiday will be lost. It will be interesting to see what happens to sales when foreign buyers are required to contribute to the economy. That is if you tell them.

Your attack on the St. Maarten people will I'm sure bring you the attacks that you seek but not from me. Comments like that only show the arrogance developers have towards the society that has let them live and work here and I use the term work loosely.

There's obviously something
Anonymous (not verified) | Tue, 2007-06-26 16:15

There's obviously something seriously wrong with those in government who allow investors to swamp the island without any regard for our citizens' wages. As was mentioned, if I am to purchase a box within a complex of many other tiny boxes for that half a million dollars, I would prefer to get my own land and build a home without the inconvenience of having noisy neighbors on both ends. However, we also have to look into the fact that right now land is practically non existent on our island and what little that remains is up for grabs to those who can afford to dish out one hundred thousand dollars on a plot that is less than half an acre. The economy will be drained and all the investors will eventually lose out on this foolish condominium boom. Our island has never been structured to have multiple condominiums built within a very short distance of one another. The main question is this; Why leave a highly industrialized country such as Europe or the United States to live within the confines of a complex that reminds you of the country you have fled if you want to experience the "Caribbean way of life".
We are slowly losing our culture and quickly sucking in everything from the outside world, without any regard for what the consequences may be in the end.
I would be able to comprehend the prices of these cubicals if they were priced in ANTILLIAN GUILDERS, because this is what our currency is, however the three hundred thousand and up price range signifies that investors are coming into our country, shutting out our own people (which is a form of discrimination) and putting prices on dwellings that are not worth what is being asked.

Doesn't government have the right to step in and ban the ridiculous increase in the price of these condo's??

Correct me if I'm wrong, but it is known that Dutch St. Maarten's open and slack laws allow anyone from abroad to come in and purchase property AS LONG AS THE FINANCES ARE PRESENT. These same individuals don't give French St. Maarten a chance because of the more stringent laws that prevail and the taxes that ought to be paid on an annual basis by FOREIGN HOME OWNERS.

Last question...how many of our politicians were actually born on St. Maarten? And if our economy sinks, do we believe they will stay or run home to their own country?

Sad truth, but St. Maarten's economy will not be as strong as it once was and the real estate market will inevitably BURST.

bursting real estate
Anonymous (not verified) | Wed, 2007-06-27 10:33

Plenty of heated discussion about the pros and cons of development. There are valid points on both sides of the fence. What will hinder the economy of SXM is the belief that if the foreign investor is attacked and maligned , taxed and made to feel unwelcome that the island will be a better place for local SXM people to live.

Take away your tourism and a place in the sun for the rest of the world and it will be hard for people to make a living. Look beyond SXM at the rest of the world. It is expanding. The population globally will not slow down because of SXM.
SXM is gifted. It is a beautiful island, people do want to invest here, it is one of the destinations globally where the wealthiest people want to come. The investment in the Mega yacht buisness is a testament to that.

We cannot stop what is happening on a global scale, we must embrace it and work with it. SXM is in that global spotlight like it or not. Tighten building controls, demand a higher end product, demand off road parking sufficient to meet the buildings use. Insist the buildings are finished and landscaped before they are used.

Charge for parking and plough the money back to the roads. Enforce proper road inspections on substandard cars ( Napa and the auto buisnesses will like that)
Take what you have and make it look better. There are the jobs and the opportunities.
JY

Receipe for development gone wild on SXM!
Anonymous (not verified) | Wed, 2007-07-04 13:12

Lets see...take a wonderful island with friendly people, add 7,000 units of new development housing (AKA Condos), do NOT improve the infrastructure (telephone, cable, electricity, sewer, water, etc.) or the quality of life on SXM (security/police, fire, emergency rescue or medical clinics), add mind-boggling traffic with no serious plan to alleviate future new thousands of vehicles, and shake ith the uncertainty of WHO will be alloowed once country status is complete and the politicians agenda is set years from now.

Hmmmmmmmmmmmmmmmmmm......

The only thing missing to spice up this recipe is to add uncertainty of hurricanes, additional crime problems later this Summer when the economy has slowed, and then sprinkle in a generous amount of USA real estate market collapse and you have the perfect development dish! Enjoy SXM! I sold out January 2007!
FLORIDA FRANK

Sold Out
Anonymous (not verified) | Wed, 2007-07-04 16:52

Thanks Frank for selling out in January!

Indeed we have alot of problems like alot of countries in the world, however you have shown that you had NO good will for SXM and simply bailed on us. Just like after Luis tons of people bailed on us, but by the grace of God we are still here and will be here for a long time.

Maybe the millions of visitors to Florida should bail out and sell out on you guys, lets see what happens to your ecomony, my guess is that you all would be the worst off than us cause you know nothing of making it with nothing in hand. See how you havent properly rebuilt after the storms, you all could learn a thing or two from us! Like we also from you.

Adios

Frank's sold out
Anonymous (not verified) | Thu, 2007-07-05 09:37

After reading some of the comments in regards to Franks post I must agree with Flipper that the biggest problem we have with people that share this site is the understanding of the reasons why one expresses him or hereself. Everybody wants to live in peace and harmony and when that peace has been disrupt by an external force it give reasons to complain. Some times it might not be justified as the person may have his or her personal agenda and selfish desires, which he or she obviously has a right too. Nevertheless the point is that we as citizens need to be protected by government.

Within our homes we decide but anytime our lives are being disrupted and government fails to protect us then there is a reason for outcry of injustice against the government. I also understand that people do not want to expose personal issues in order to protect them selves. We need to have an open mind and understand the issues at stake. People will continue to leave based on the lack of trust in the government. Obviously those that will leave is because they can afford to leave. Once a government fails to protect its citizens dozens that can afford will leave.

Who will like to remain on this island of which 50% of its voters are from foreign decent and will obviously control the next government. Some of them probably have prepared their turf in their homeland already and they will pick up their bags and leave when this island is sinking. All the previous governments has failed to apply a policy which would have torpedo this island into a good and proseporous island. More Franks will be leaving the island accompany by james, john and the rest.

Difference between resident and visitor
Flipper | Wed, 2007-07-04 17:47

I think you are a little over the ingenous here. Clearly the writer is someone who invested in and liked to visit St. Maarten, though he doesn't mention for how long he was doing that.

Tell me, if you happened to have a favorite holiday location where you owned property, then over the years it became less attractive, over crowded and congested, crime ridden and less friendly, would you feel a personal loyalty to that place? Not having a vote, not having a voice or being from there, what are you going to do about it? I tell you what you would do, you would sell up and find another place thats more like the place you want to visit and vacation in.

You say Frank bailed out on us, shows no good will, yet you miss the message that he is giving and that many other of the long term visitors are giving. St. Maarten is no longer the St. Maarten it used to be and as a result is now attracting a different sort of visitor.

No, it's up to St. Maartener's to step up to the plate and wrestle control and policy back from those who follwo only the path of excessive and out of control growth. SXM PE is looking for candidates to support next year. Anyone out there?

Flipper

PS. To the person who wrote the comment I have just deleted. If you are looking for the people who are here to rape the island they can be found in Cupecoy, Cay Bay, Dawn Beach, Red Pond and Little Bay to name a few of the places. The writer of the comment does not appear to be one of the rapists you mention in the comment you made and like the post I have replied to, you miss the whole message given.

This is not something new, how long have you been hearing that rising crime, destruction and pollution of the island's natural beauty and the traffic conjestion would damage the island? Have you ever considered why people vacation in the Caribbean? St. Maarten is becoming less Caribbean every day.

I would like to mention to all posters on here, quit with the immediate attacks and defensive attitudes, start reading what is said and think about it just a little. Always with the attacks, attacking the messenger instead of reading the message. Instead, why don't you think about why Franke sold up his investments here, you might learn something.

Frank's message
Calico Jack | Wed, 2007-07-04 19:24

The world is an ongoing process of everyday changes fueled by the quest for money. It always has been and it always will be. In that process mistakes are made continuously. Sint Maarten is no exception to that rule. Sad as it is. Frank is upset about this reality of life but he is fortunate enough to buy his happiness elsewhere. I am happy that Frank is able to buy things that are out of reach for many others. Frank probably worked hard for his money and likely deserved every penny of it. Good for him.

I also understand Frank's message but I have to add that it is completely meaningless to me coming from a Florida Frank. Florida Franks are part of the problem because all the condos they so abhor, are in fact being built for the Franks of this world. Franks that have an uncontrollable desire of owning property everywhere. I don't think Frank is the man to complain. He is the man to apologize. And now Frank sold out and probably hopes that the stupid islanders feel punished by his decision. I don't feel anything. As a matter of fact I don't care about Frank. Frank made a nice profit and took his money elsewhere and probably bought another condo again. Franks come and Franks go. We have seen many of them. Frank's message about over development is loud and clear but we, the stupid islanders, knew that already. We just seem to keep voting in the wrong people. But thanks for reminding us Frank.

Rackham

Frank or Franky?
Local Hero | Wed, 2007-07-04 21:04

Nice response Rackham. It seems to me though that the writer didn't write anything to imply that he was solely interested in money and making a buck, for instance he stared his post by saying ....take a wonderful island with friendly people... Could it be that he owned a property here because he actually did love the island and staying here? Maybe he planned to retire here and didn't just think of his property as an investment for monetary gain. We don't really know what kind of Frank he is. Maybe you don't see a difference from the Franks you mention and the one I just described, but I think there is one, a lesser evil if you will.

We have noticed and realised that some of the problems with this site is that are more than a few commenters that snap at or attack other commenters, which in the end only discourages others from commenting and joining discussions. This is what Flipper was refering to and it was not just aimed at the writers of the comments in this thread, but in general. We would like to ask people to moderate themselves a little, engage those you disagree with by explaining why you disagree, just as you (Rackham) just did. Some people seem to be either overly defensive or aggressive and confrontational in their comments by stating things along the lines of 'you're the problem' or 'you are stupid and good ridance'.

I think Flipper put it quite well when he said what if it was you that had the money and decided to buy a place somewhere like St. Maarten. It wouldn't matter either way if you bought because you liked it there or as an investment, if the place changed from the place you used to like, or if you forsaw problems in the real estate market then you would probably get out.

What is Frank to do? As a non resident he can't get involved in politics, although the 'big boys' in the property business most probably are, he can't vote. He could of course DONATE to foundations and organisations, SXM PE for example, we are fighting for a better St. Maarten here, to live in, and even invest in, but seeing as he has cashed in perhaps he doesn't care anymore.

How about it Frank? Make a donation and send a Good Luck card if you really care about St. Maarten and those of us here who are still trying to save some of her charm, character and natural beauty.

Just my 2 cents.

LH

Franky
Calico Jack | Wed, 2007-07-04 21:52

Ah well Local Hero person, I am not that often on Sint Maarten but enjoy engaging in these discussions. We don't differ that much with the exception that I don't think that Frank's message is my or your concern. Frank probably has another condo in some other over-developed area but I do appreciate him voicing his opinion. Every man is entitled to one. But, I couldn't care less about Frank's complaint. The rich kid complaining about his view. Letting us know he bought another view somewhere else. And now what?.

Rackham

Not much difference
Flipper | Thu, 2007-07-05 08:52

Just that, as LH put, those who make comments attacking and bitching at others who make comments ends up discouraging people who might want to do so. You are right, we here already know what the problems are and didn't need Frank to tell us.

Flipper

sorry flipper
Anonymous (not verified) | Wed, 2007-07-04 18:27

i wrote the response to Frankie...

It was not attacking him it was about anyone investing anywhere...

No Community wants people in it for the buck..
If you think people come to SXM and sell because of crime...
SXM and the people have alot of growing up to do...

Please read again
Flipper | Thu, 2007-07-05 08:57

Crime is one of several issues that deter people from visiting SXM, along with traffic, overdevelopment, hustel and bustle etc, even the skinny mangy starving dogs on the sides of our roads give a bad impression to some that deter them from visiting again. Someone should do a survey about why people decide to visit the Caribbean and then see if St. Maarten fits in with that destination image they have, I think you will find this is less and less the case.

Flipper

Totally Agree
Anonymous (not verified) | Thu, 2007-07-05 08:36

Franke and others are selling because they can make a huge profit and NOT only because of crime or whatever.

Guys just look around, crime is up all over the world. So I guess that means we all should stay in our home land and be scared of travelling or owning homes/condos elsewhere.

I am a local who owns a condo in Miami and have been robbed there, but that didnt make me sell, I just learn from the experience and live accordingly.

If is do sell my condo, it will be for lots of reasons, not simply crime.

I didn't say crime is the only reason.
Flipper | Thu, 2007-07-05 09:29

I really don't know much at all about why Frank sold up, other than the things he wrote about. I don't think it's totally fair though to heap the blame for our situation on people like the Frank Rackham described. It lies heavier upon the politicians of the past couple of decades and thier policies, which let's be honest, are really build build build. It also lies upon the people, the voters of the island who put them there. They need to be informed, awake and aware all the time, not just in the 2 months before elections when goodies get handed out.

I know more than a few people who have been visiting St. Maarten for a long time, some of them for 2 or 3 decades, people who have been very loyal and have made many friends here. The general concensus among them is that St. Maarten is developing too rapidly, it's character and the things that kept them coming here so long are being destroyed by it.

Flipper

Franke
Anonymous (not verified) | Thu, 2007-07-05 08:31

I am the person who made the comment about Franke bailing out on us. I do understand his reason for doing it, truly do. I equally agree that sxm is being overbuilt and the quality of life is decreasing for the residents.

However, the answer to all our problems aint simply selling out even though I can understand. Damn us to hell, is basically what this is!

This island has made itself by creating the environment for people like Franke to come here, however Franke has to understand that our friendlyness (that brought him) is also our biggest weakness, we cant seem to say NO to people. I can. And say the following:

- no to new projects that dont improve our quality of life
- no to new development that limits our free movement
- no to more projects that demand more foreign labor
- no to more condo buyers, who purchase pre-construction and later sell, thereby driving prices up evenmore

- yes to more immigration limitations
- yes to less foreign workers
- yes to making condo owners pay their share of our burden
- yes to affordable housing for our people etc.

See where discussion takes us?
Flipper | Thu, 2007-07-05 09:14

We don't really differ very much at all.

Now, what I want to know is who of you out there are serious enough with your beliefs to run for parliament next year? That's what it's going to take to get the things you list above and that we all pretty much agree with. We here at SXM PE are looking for candidates and we want to hear from them now, not 2 months before the election next year.

Flipper

Election, whenever
Anonymous (not verified) | Thu, 2007-07-05 18:01

Flipper,

I have considered being on a list, but thats where it stopped! You see good intentions die hard on sxm. Lets face it, we have witnessed some good people over the years on lists, however the rest just drown them out and finally they quit.

Another thing, the people here would take advice from a total stranger or crook before they would from an honest man, one which they have seen their whole life and know the track record.

However, I am getting quite pissed with things and hope it doesnt come down to us not having choices anymore. For now, I pray alot for our country, its in Gods hands now, "Vengeance is mine saith the Lord" not ours!

No, it's in your hands
Flipper | Thu, 2007-07-05 18:38

Being an athiest, I certainly don't trust in God to fix the problems of the human race and our little island in the sun. Why would he want to help anyone who won't step up and help themselves?

You know what the problem is with those 'good people on the lists' you mention? They all waited till the last couple of months to campaign and their campaigns were probably the same old crap that all the others run, so of course they get drowned out.

You want to know how you get noticed? You speak over the others, you raise the level of communication and discussion, it's not so difficult to stand out from the rest if you do this. Secondly, you create a campaign team, with a campaign manager and you draw up a long term campaign plan, you make sure it has people in it who are committed, no slouchers.

And then you start working for your votes, you get out in the communities, you talk to people, you help solve their problems as best you can and you get yourself know as someone who cares and who works hard to make a difference. The sooner this is started the better.

It is in your hands and others out there. Throughout history people have sacrificed time, energy, effort and lives to make a difference, to serve their country and their people, for right over wrong. Governments are formed all the time by parties and candidates that have been elected from grass roots campaigns, they also get overthrown by them too, but I'm not talking about storming the Administraion Building here.

You don't need to have solutions and policies for everything, you don't need to be experts on everything. A 'Green Party' campaigns for 3 or 4 seats on the basis that if elected and part of govt then they want only certain portfolios and will work with other parties on other issues. A good campaign team will have at people in it that are knowledgable, informed and concentrate only in particular areas and issues. Advisors.

If you yourself are not willing to run, then at least try to help us find people who will. Personnally, I think by the time the next election comes around people will be sick of the status quo of the two parties now, I think they will be crying out for something new.

Flipper

Reply its in our hands
Anonymous (not verified) | Thu, 2007-07-05 20:42

Hey Flipper, dont go "flipmode" on me ok. I feel your pain. It's your choice to be an athiest. Even the almighty God allows that!

Concerning election in the future, I think you should run cause you have obviously spent some time thinking about how to do just that, I will wait to see your list.

Was just saying....
Flipper | Thu, 2007-07-05 23:08

that relying on prayers alone, in my opinion, won't help very much. Please thank God when you send him your prayers though :) (I'm teasing)

Who knows, maybe I will, maybe not, but I think I would prefer and be better as support rather than in front, too restricting for someone who likes honesty and bluntness as I do.

Flipper

you mean in two or three years
Anonymous (not verified) | Thu, 2007-07-05 17:30

So you actually believe there's gonna be an election next year? Please. We are no where near ready. Don't be surprised if the present gov sits its full term. Or at least two or 3 years. Election discussion for 2008 is unrealistic.

I hear you
Flipper | Thu, 2007-07-05 17:55

But thats what appears to be on the table right now. New Status, 15 seat Parliament ect. I would love to hear more about what you think will happen. Certainly I agree with you, as things stand right now, the good ol Constitutional Train appears to be headed round the mountain towards a washed out bridge.

Are you suggesting the new status won't happen in Dec 08? Or just that there won't be a new govt structure and parliament by then?

Flipper

Both
Anonymous (not verified) | Thu, 2007-07-05 22:49

Neither the new status or a new gov structure will be in place. The Dutch "technical assistance haven't even arrived yet, the majority gets here in Sep. Then BEFORE we can do anything, there are issues of currency, security etc etc STILL to be discussed and finalised. And as much as local politicians spin the rhetoric that we can move forward without Curacao, fact is we can't. Look, I want the status I voted for also, but i would much rather them take their time and 4 years to achieve it in an organised, structured manner than rush us into chaos. There will be no Sep. Status in 08 and there will be no Elections either. Notice William Marlin's cunning statement on the day he was swonr in. He knows it to. He jumped the gun to announce that he doesnt think it is attainable just so when the time comes he will have grounds to say "I told you so" and blame whoever. What he said that day is what all of the politicians know for a fact!

Status
Anonymous (not verified) | Fri, 2007-07-06 00:00

What the politicians know is that Holland aint ready to dish out 5 billion guilders too quick and also give up the Antillian benefits for its economy and because of that they are going to drag their feet. In the end I think it is clear, they dont want us to have the status that we want, they want control like France on its territories:

-justice
-military
-education
-finance & control

What is really left after that? Economy? Hmmm, the above mentioned items come with a price, who is going to pay for that? The economy offcourse, therefore I say, that the current process seems a waste of time.

Holland should give us all their benefits and then they can have what they want! And yes I guess then that we have to accept, lets see..."gay marriages"!

Curacao depleting SXM
Anonymous (not verified) | Fri, 2007-07-06 07:57

"St Maarten is part of the Netherlands Antilles – an artificial nation without much future, created by the Dutch to release their West Indian colonies into something resembling semi-independence. The administrative center is in Curacao – an island only a few miles off the coast of Venezuela and without deep cultural ties to St Maarten. While St Maarten is performing well fiscally, Curacao's finances are in disarray, depleting St Maarten's financial resources as well. There has been a referendum a few years ago where a vast majority of voters on St Maarten decided to secede from the Netherlands Antilles in order to have a more direct relationship with Holland. The break-up of the Netherlands Antilles has been scheduled for 2007, but there is doubt that these dramatic changes can be implemented within this ambitious time frame."

real sint maarten

Can you please explain
Flipper | Fri, 2007-07-06 02:15

Just what those 'Antillian benefits for it's economy' are Holland doesn't want to give up exactly? Why would they fork up 5 billion to people who are largely responsible for the debts they have and show little sign of learning how to balance the books, without making sure that proper governance and safeguards are in place to make sure huge debts don't reappear in 20 or 30 years time? Look at our island government here, just what exactly have they done to show they know about good governance and transparency?

Please explain. What is it that you think Holland want?

As for Gay Marriages, I think you have your priorities in a twist if that's your biggest concern about the future of the island. It's none of our business if two people of the same sex want to commit to share their lives together and have the same rights as a hetro couple doing the same thing, good luck to them and they have my full support.

Flipper

Short Explanation
Anonymous (not verified) | Fri, 2007-07-06 08:50

Flipper, gay marriages would be just one thing we would have to accept, there would be more. Dont have much time now to explain, but let me give some small highlights of the reason we have a huge national debt and some dutch benefits of the Antilles, lets see:

By the way Flipper, take a good look when the Antillian debt was largly created, your answer is around 1985 to present. But whappened in those years?

1. Shell bailed out, the island of Curacao lost hundreds of jobs and hundreds of millions in revenue
2. The dutch cancelled several fiscal treaties (to their own benefit) with the result that the financial sector lost, billions per year, yes billions!
3. Failure by Holland to re-grant a beneficial BRK for the islands (again to their benefit) with us losing to other tax havens
4. With the socalled restructured Antilles of 1994, tons of studies and reports had to be made and who made the hundreds of millions, hhmmm dutch consultants!
5. And, yes our own politicians who fail us over and over again and not make the right decisions, as hard as they may be, to solve our problems.

Lastly, if you would get a copy of the budget of the Antilles (Federal Govt) you would see clearly that we generate a small surplus just right before the interest of loans to Holland totally wipes it out, leaving us having to borough from our local banks and pension funds.

Thats just a few in my opinion.

Both
Anonymous (not verified) | Thu, 2007-07-05 23:34

Four more years of this and we , may have nothing to structure, it may be non salvageable or forever destroyed as our Caribbean Island that we have all come to love..

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