Caribbean Real Estate - An Investor's Guide
Think of the Caribbean and images of lush vegetation, sumptuous floral blooms and idyllic, white, powdery beaches spring to mind. This huge group of no less than 7,000 islands and reefs basks in the Caribbean sunshine among radiant turquoise seas and coral reefs.
Caribbean Real Estate - An Investor's Guide
As one of the favourite holiday destinations for the rich and famous, property for sale and rent in the Caribbean doesn't come cheap, particularly on the more favorite islands. These are the ones on which many investors select to profit from due to their successful tourism industries. High returns on investment can be expected, demonstrated by the fact that hotels such as Sandy Lane, on the well-established island of Barbados, fee a minimum of 900 Us dollars per night for a standard room, with prices rising well into the thousands.
Certain other groups of islands offer far more affordable property prices (from around 65,000 Usd in Turks and Caicos) and are now tipped to come to be the property and tourism success stories of the future. However, with prices only just below those in the Uk, business transaction properties and land can't actually be found.
From small villas to entire islands,Caribbean rental properties can be exclusive and often quite charming. Some may be settled on or near remarkable beaches and others may be in out-of-the-way hamlets or plantations. Rental properties' amenities vary; some offer maid services and cooks while others are not staffed.
Culturally, politically and geographically, the Caribbean islands are hugely diverse; real estate buyers and renters are spoilt for selection in terms of lifestyle, climate and atmosphere, but some things do remain constant: crystal waters, warm sunshine, remarkable beaches and relaxed people, manufacture for an spicy investment and holiday location.
Why The Caribbean?
Due to the area's diversity, the Caribbean islands arguably have something to offer all types of investor, whatever their budgets. Multi-million dollar price tags are base in Barbados while extremely affordable alternatives on other islands such as Turks & Caicos and Isla Margarita suit a dissimilar type of investor eager also to benefit from the off-shore tax haven status and duty-free shopping paradises these locations have to offer.
Growing Economic Prospects
The rise of tourism on many of the Caribbean islands has been a major factor in sparking a resulting increase in many other domestic industries, namely the construction commerce along with many other connected assistance enterprises. Eg. Aruba now has five times the hotel capacity it had in 1985 and its construction trade is flourishing.
Off-shore banking is also an leading part of Caribbean commerce, particularly in The Bahamas and Aruba.
Despite the world's largest petroleum refinery facilities at Saint Croix and Aruba, these still rank below tourism in terms of profitability - in the Us Virgin Islands, tourism generates 70% of the island's employment and accounts for over 70% the Gdp. It is also of great point on the Island of Margarita, an area where the government is currently focusing much attention.
Sheer Luxury
The Caribbean clearly targets high-end traveler markets; luxury resorts and award-winning hotels can be found on many of the islands, eg. Jamaica, Anguilla, Puerto Rico, the Bahamas, the Dominican Republic, St. Lucia, to name but a few. Places like Parrot Cay and Point Grace on Turks & Caicos were featured in the 2006 Condé Nast Traveller Gold List, and the Ritz-Carlton on West Caicos is also sure to bring even more well-heeled visitors to the islands.
Investment in holiday rental properties and hotel-related property can be a extremely lucrative selection on these islands. Meanwhile, the Caribbean is where millionaires derive whole islands for themselves, often creating their own paradise which is then rent out to the ultra-wealthy.
Many great sporting facilities are widely available, including scuba diving, surfing and golf courses help to attract some 2 million tourists annually to the islands.
Idyllic Weather
Tropical rain forests, still, glassy lagoons, wind and waves - all types of weather can actually be found in the Caribbean to suit all tastes. Essentially, prevailing conditions on most Caribbean islands fall somewhere in the middle of Aruba's dry and Dominica's misty weather patterns, and many have more than one climate and ecosystem. Temperatures on the islands fluctuate in the middle of lows of 64ºF in January to 90 ºF in July. It's advisable to check up on your particular island's risk of hurricanes. The hurricane season runs from June to November, with the majority hitting in September.
Easy Access
By far the most favorite way to arrive on the islands is by air and many flights, particularly from the Usa are non-stop to the Caribbean, typically to San Juan or St Thomas. Many of the smaller islands have basic airports, meaning a walk to the airport concluding from the runway. Small Caribbean airlines join together to the islands with regular scheduled flights.
The Caribbean is also noted for its cruises and dozens of cruise lines offer a wide range of packages.
A Buoyant & various Market
Caribbean property for sale and rent comes in many forms; from houses, villas, apartments and condos to land, farms or even private islands farms. Market and investment property is also a potentially useful selection due to the fact that all sectors of the property store in the Caribbean continue to grow, with property prices generally on a steady increase. Many wise investors see now as the time to invest before Caribbean prices go up further, as they have done on the already more established islands such as Barbados. European investors are also profiting from the fact that sterling and the euro continue to strengthen, allowing even greater purchasing power.
Islands like St.Lucia and Dominican Republic are receiving huge levels of foreign investment and have been benefiting from exceedingly high returns of investment, sometimes as much as 100% in the first year.
Caribbean - Quick Facts
Time distinction - 4 or 5 hrs Gmt depending on your island
Flying time - approx. 10.5 hours
Visas - No (just valid passport)
Electricity - 240 V
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