Published on 10 September 2005 at 04:52 pm
Filed under: South/Central America:- Caribbean Property Guides » Caribbean Guide for Real Estate Investors
Because The Caribbean consists of over 7,000 islands, real estate buyers have a vast amount of property to choose from and also many different Caribbean island groups to examine. The islands are all of various different sizes and together they form what Christopher Columbus termed the West Indies. Today they are also collectively known as ‘The Caribbean’ and they stretch from Mexico to Venezuela.
Many of the Caribbean islands were previously colonies of various European nations including France, UK, Spain and the Netherlands, and to this day some remain sovereign states or overseas dependencies. Many of the larger and more popular islands are favourite tourist destinations already and now they’re developing their real estate markets to appeal to the overseas buyer seeking a Caribbean getaway.
For those in search of the ultimate overseas investment opportunity however, occasionally some of the smaller Caribbean islets come onto the market and these offer the investor the chance to own their very own desert island!
Real estate investors have an almost bewildering array of developed Caribbean island territories to choose and it would be impossible to write a country guide to each so here’s a guide to three of the most popular: -
The Bahamas - The Commonwealth of The Bahamas actually consists of 700 islands and confusingly they actually lie in the Atlantic Ocean, they do however form part of the West Indies and were a former British colony.
The Bahamian economy is heavily reliant on both the tourism sector and the offshore banking sector. Tourists particularly from the US and UK are attracted to the main islands as English is the official language, the weather is tropical and the scenery spectacular.
The investment and second home real estate market in The Bahamas has really taken off recently since the government changed the rules of ownership of freehold property to significantly favour overseas buyers.
Barbados - Bordered by both the Caribbean Sea and the Atlantic Ocean this former British island nation of Barbados is regarded as one of the most popular tourist destinations in the world. It is also recognised by the UN as the number one developing country in the world and it has one of the highest standards of living as well.
The popularity of the island lies in its fantastic climate, friendly and welcoming English speaking people, stunning natural landscape and great shopping opportunities! It is also home to an increasing number of wealthy investors who are attracted to the amazing real estate market.
Virgin Islands - The British Virgin Islands and the US Virgin Islands are a series of the wealthiest islands in the Caribbean - some of which are populated, all of which are very popular with tourists and many of which are also frequented regularly by visiting cruise ships.
Some of the British Virgin Islands are privately owned, the most famous of which is of course Necker Island which is owned by Richard Branson, and they are all blessed with beautiful white sandy beaches, stunning geography, fantastic weather and interesting and unusual flora and fauna.
Some of the other Caribbean Islands growing in popularity with property investors and real estate buyers at the moment include the Cayman Islands, Jamaica, Saint Lucia, Trinidad and Tobago - and a property buyer will need to be prepared to be overwhelmed by the availability and quality of homes for sale across the Caribbean region!
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