Sambala rip-off resort fees. Next rip-off from Sam

Forums Cape Verde – Property / Invest Forum Sambala property owners Forum Sambala rip-off resort fees. Next rip-off from Sam

This topic contains 228 replies, has 16 voices, and was last updated by  astocks60 9 years, 2 months ago.

  • Post
    sherpy
    Member

    Tony
    Thanks for providing the fees info.
    £160 per month isn’t that bad.
    Thats about the same as you pay your local council for a 2/3 bed home.
    I pay my local council £218 per month, and for what?
    You pay fees on a caravan site in the UK of £2000 per year.
    When it is eventually finished, thats a brand new resort, with brand new facilities, being kept in vg condition.

    Do also remember that in the guaranteed scheme, yes its 5% of the purchase price, but thats it, no other outlays, and you get 4 weeks occupancy per year.
    I stayed in a resort in Hurgadah and Luxor in Egypt. Properties were good quality, nice people, if a little overpowering and very cheap. Its just a little too scary for me as a place to set roots with gunman/guards, and now over run by Russians coming in with suitcases of money (sorry to any Russians).

Viewing 15 replies - 1 through 15 (of 228 total)
  • Replies
    astocks60
    Member

    Hello All,
    I spoke with Dominic at Scambala a few days ago. One of my questions was about the independent survey. Where Dominic used the excuse that not enough investors are interested. I had heard the remours about high resort fees so I also asked about this. I was told to email Piran. Below is the email with the rip-off prices. My apartment is a very small two bedroom apartment in I Block measuring 65 M2. I’m also buying a 100 M2 apartment in Egypt. In Egypt if you sign up for the guaranteed rental with works out at 50% over 5 years then your resort fees are included. I believe sign up to the Guaranteed rental at a wonderful 5 % a year. If you decide to life in your apartment in Egypt the resort fees are 50 Euros a year or 600 Euro’s a year for a 100 M2 penthouse top floor apartment.

    Please refer to the email below and look at the rip-off fees that I’ve been quoted for a small 65 M2 ground floor apartment.
    Dominic and you wonder why people including the famous 12 are fed up and post about Scambala. The answer is you rip-off you investors.

    When are the rest of the investors going to wake up and learn that Sambala only know how to screw and rip-off investors.
    I expect the usually Itchy (Dominic) to say it’s good value. It’s not it’s a complete rip-off the same at the furnture packs.
    Don’t forger to scroll down to see the email from Piran
    Tony

    Dear Mr Stocks,

    Many thanks for your enquiry and the opportunity to explain the issues involved with your question.

    1. The fees you refer to are two separate and distinct charges. The first of these is the Resort Management fee which is covered under the terms of the Resort maintenance and service agreement which forms a part of the legal deed exchange. These for a 2 bed apartment are set currently at 1,020.05 Euros per year.

    2. The second charge is the Condominium charge for Block I. This charge is set by the condominium at the Annual General Assembly where a yearly budget must be presented by the condominium administrator and voted on and approved or otherwise by the owners of the individual units which comprise the condominium. The fees are paid into a condominium I account and the accounts for the condominium must be presented by the Administrator at the following years AGM. A fee for a 2 bedroomed apartment in a condominium comparable to I block is currently set at 1,135 Euros per year

    If you have any further enquiries please do hesitate to contact me

    Yours sincerely

    Piran Johnson

    astocks60
    Member

    Hi Sherpy,
    If you think over 2000 euros for a 65 m2 very small ground floor apartment is good value. Then you deserve to get ripped off. I would have been surprised if you had posted anything else. Myself I think it’s a complete rip-off when compared to a large 100m2 top floor apartment in Egypt where the resort fees are 50 euros a month or 600 euros a year. Three times as much with Scambala for a resort that’s not as good as the one in Egypt. Sherpy we are talking Africa where the wages paid are peanuts. Therefore I like most investors expect reasonable resorts fees and other fees and not to get ripped off.
    However if you consider we are dealing with Scambala what else would you expect than to get ripped off or screwed.

    Sambala must be paying you or you have lost your mind if you think this is good value. Wake up Sherpy.

    Tony

    karlking
    Member

    Tony do you know if they are the revised fees? As at the meeting sambala were trying to charge jo public for the properties in their control. Before ANY resort fees are paid, all properties will have to be accounted for.

    Those fees are high for a country thats just came out of Third world status! The average wage out there, is NOTHING like the wages in the UK so making a comparison to the UK is just stupid. Again as I said, sambala will continue to screw you even if you’re lucky enough to complete.

    Block A still has a gapping crack running down from top to bottom, Block B and C have cracks too. You would have thought owners in those blocks would at least be asking questions rather than trying to persuade those on the VS phase to pay up, just so their money can keep the Village going. Rather than just continuing the build of blocks would it not be sensible to find the underlying problem with the foundations? Any sensible person would want to ensure this before ever signing for a property.

    astocks60
    Member

    Hi KK,
    I don’t know if these are the revised prices, the are the prices Piran sent me. However I do know the prices are a complete rip-off. KK would you expect anything else from Scambala? I agree these prices are very high for a third African country. More money in Scambala pockets at the expensive of the poor investor. How I regret ever hearing the name Sambala?

    Tony

    sherpy
    Member

    Tony.
    Clearly you are upset by all this, however, you are getting sizes and prices way out of proportion.

    One of the apartments I own in Tenerife is a lovely studio on a lovely well maintained complex. Its 39 squ metres and is 750 euros per year costs.
    1 bed apartments are generally 45 to 55 sq metres.
    You are claiming that your 2 bed apartment in CV at 65 sq metres its very small. Its not.

    The exchange rate is currently not in our favour and its highly unlikely to get back to the brilliant rates of 1.50 to the £. when we first bought into Sambala however, if it goes back to say 1.35, then we have knocked £50 a month of the fees. We as Joe Public have no control over currency rates, but thats the hand we have been dealt.

    Properties in Egypt are about a quarter of what you pay in CV or the Canaries. You can get a 2 bed apartment furnished in Hurgada for £25000. So its only natural that you will get maintenance at 600 euros per year.

    The costs have clearly shocked you Tony, and I want less costs like everyone else, however, based on what I pay for things elsewhere (and yes its a developing country) the fees are not that bad. Certainly not worthy of headline grabbing statements such as Rip of Sambala etc.

    Can someone on the forum who has purchased a 2 bed apt on one of the other resorts, please come on and tell us what they are paying and the size of the apartment.

    KK. You are like a stuck CD. Better sticking to the vino and posting, at least we get the truth and your motives out in the open.

    karlking
    Member

    Again another stupid comparison, Tenerife! Ave wages 400-600 a month, CV 100-200 a month!! Why not compare it to Monaco?

    ALL Developers on All the islands are going to rip the brits off, they have too, to pay back their huge debts that they have accumulated over their lavish build times. Asking for any other resort will obviously reveal the same rip off fees. However, NONE of the developers will give a complete breakdown of the charges/costs involved. I wonder why. If sambala management are not taking 80% of that, I’d be very surprised!

    If I owned on A,B,or C block I’d be more interested in asking about the structural integrity of those cracks than defending sambala management future lifestyle, yet some appear not to care!

    sherpy
    Member

    KK.
    I see you have been playing amateur detective with other owners to confirm that I am an actual owner now…very cute, but I note no apology after all the lies you have spun.
    I think the donation to charity challenge of our properties had the desired effect. So no more of it.

    I think other owners on other CV sites will give us the comparisons we need on here.

    stog
    Member

    KK
    Totally agree with your statement and stockys.

    How can you compare considering the wages in CV to any where else?

    Sherpy=One of the apartments I own in Tenerife is a lovely studio on a lovely well maintained complex. Its 39 squ metres and is 750 euros per year costs.
    1 bed apartments are generally 45 to 55 sq metres.
    You are claiming that your 2 bed apartment in CV at 65 sq metres its very small. Its not.

    exchange rate £ to euro! same as in tenerife? isnt it? they are Euros? part of Spain. So no difference there to CV is it?

    sounds better in Egypt, or cheaper in Tenerife from what Sherpy said! plus you DO HAVE ALL THE FACILITES(water, electric on all the time etc) and there in a developed area of the world.

    Caravan site in the UK sounds even better, £2000 ground rent, but you do have all utilities! plus these sites have pools,other activities kids clubs,#BARS,CLUBS,RESTAURANTS,SHOPS# etc so its worth it! but you dont get the good sunny weather all the time,… no exchange rate,flights, mosquitos! MMMmmmm!

    What has happened to the BARS,CLUBS,RESTAURANTS,SHOPS etc, if they dont get these areas up and running with the 3rd or is it 4th Grand Opening,the sites not going to be become a resort is it without these areas, it will just lumber on as it has for all these years, I would expect to pay alot less for fees until they are built! anyone remember when there due to start them?

    Sherpy=When it is eventually finished, thats a brand new resort, with brand new facilities, being kept in vg condition.
    Have you forgot so quickly the mess the site was aloud to get in, tourists already, but they liked eating the plants!-goats!!!
    Brand new, how long has the first blocks been up? there guarantees for the FOUNDATIONS would of run out before its all finished surely?
    Kept in very good condition? with these groups the apartment blocks will be, but what about the other areas still controlled by Sambala?

    Sherpy you are getting quality(not proven) and value for money way out of proportion!

    Itchy-bring me sunshine in nutterswood

    sean quinn
    Member

    I believe we were quoted 2000 euros fro a townhouse when we bought.

    I thought this was quite expensive but got suckered in.

    I was however under the impression it would be covering the resort, golf, diving, tennis, pools, restyrants, bars, grounds and general upkeep,

    in the abscence of many of these it should be scaled back accordingly.

    I also feel rather than being used fir general upkeep it will end up used for significant remedial work.

    Was I deaming or was it compared to council tax, are we paying fir the police now, if so there are some arrests to be made.!

    Resort fees must be scaled back and then rise as and when, if it ever becomes a resort

    stog
    Member

    Sean
    I tried to put this point in my post about facilities, but you put it far better!

    wood63
    Member

    I am quite new to this forum and find some of the postings very interesting but on this occasion I must ask:

    KarlKing – can you explain how there can be structural cracks in block C when I am stiil waiting for it to be built?

    sherpy
    Member

    Sean Stog. Fair enough and valid points.

    Remember this is a private community/village. Your next door neighbour will no doubt be European and not Cape Verdean. The relevance to wages is fair enough, but what about everything else, such as costs to maintain out properties.
    They have all to be imported at silly prices.
    I reckon we will pay much the same as on a static holiday park site. The facilities on Sambala should be far superior.
    I also agree that until sufficient facilities are in place that there has to be rebates. The resort has also got to be in excellent order at handover.

    stog
    Member

    So,
    How long does the foundation gaurantee last and when it starts?

    karlking
    Member

    Detective work, ha, don’t flatter yourself.
    When the full listing of properties sambala are in charge of, are PUBLISHED, then all will see who owns what. This, along with a full breakdown of all resort costs, which by the way is a normal procedure for an above the board developer!

    “costs to maintain out properties”
    I was under the impression the builders warranty would cover this? After all on a new development what grand maintenance should there be, unless you refer to putting their original work right!

    When all costs are finalised with water electric rates and taxes the final bill will be around £3.5 K a year! NOT cheap at ALL.
    Also out of the 5% there is a tax to pay along with your own maintenance costs, say a door on a unit comes lose, a lock needs replacing, it will be deducted from your 5% at sambalas own rate as you will not be able to get your own people in! Going by sambalas prices so far those fees will also be expensive.

    Furniture will have to be renewed usually on a 5 year basis, at a cost to you! For a resort development to keep standards, or have they not mentioned that yet?

    sherpy
    Member

    KK.

    Why did you highlight Block B then in your last blog?
    Woods 63 is still waiting for his reply
    Who is going to paint, who is going to change bulbs, who is going to cut grass, who is going to clean, who is going to service pools and plant etc, who is going to repair and replace damages to all parts of the village, who is going to provide village security, who is going to maintain the beach, who is going to provide onsite help…the list goes on and on and where will all the materials come from to do this?
    The warranty is for 6 years I understand after building completes.
    The rest you have made up as usual, and any property list will be for the benefit of owners to ensure fairness of costs etc etc. Not for someone who has nothing to do with the project. Remember, you sold out and bought a castle.
    Stick to the vino, you talk more sense then and you are more honest about your intentions and motives.

Viewing 15 replies - 1 through 15 (of 228 total)

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