Reason:
What is the main reason that you are buying a property in the Caribbean? Is it as for rental income, capital growth or holidays? Many people see buying a property in the Caribbean as the ‘ultimate’ investment, where you can have free holidays and make rental money when you are not there, as the place increases in value. The good news is that investment in property in Barbados, St. Vincent, The Dominican Republic and St. Lucia can offer you the opportunity to have exotic holidays in one of the most beautiful locations on the planet; as well as providing high rental income because the long holiday season throughout the year is helped by the glorious annual weather; and property values have been steadily increasing despite the current global credit crunch.
Research:
Look at the reality of your chosen island, the property location and the specific development.
· What are the laws on foreign ownership, inheritance and tax?
· What are the overall development plans for the island?
· What are the overall development plans for your specific development?
· Are there any planning issues yet to be resolved?
· Do they involve a golf course alongside your villa or apartment?
· Is the developer creating amenities that will be enticing to attract people to holiday there?
· Have you read the news about the island, the location and the developer from the internet?
Some recent developments in Barbados, St. Vincent, The Dominican Republic and St. Lucia have been of a very high standard and provide all the holiday facilities and sporting activities either on site or within a short distance.
Rentability:
Using the internet, investigate the rental market of competitive completed developments on the same island and in nearby locations to your proposed purchase. Try to find out what rental prices and utilization rates are being achieved for comparable properties. Holiday rentals help to cover the running costs, but are unlikely to achieve much profit. Because tourism is so well established on Barbados, St. Vincent, The Dominican Republic and St. Lucia, it is easy to find comparable rental figures on property developments.
Resale:
When first assessing a property to decide whether or not to purchase, try to find out how easy will it be to sell in future? The better the market, the more likely it is to show a decent capital return. A property in an area full of new development will face a lot of competition in the market unless it is on a prime development with added amenities such as a top-class golf course and a spa.The property market in the popular destinations of Barbados, St. Vincent, The Dominican Republic and St. Lucia have consistently delivered strong resale prices because of the demand from US and UK buyers.
For help on finding your dream property in the Caribbean, click on http://www.global.w-wideproperty.com/ and register your name for fantastic property deals in Barbados, St. Vincent and the Grenadines, the Dominican Republic and St. Lucia.
Island in The Dominican Republic
Photo from " The Ministry of Tourism of The Dominican Republic"
Friday, 22 May 2009
Monday, 11 May 2009
Seven Issues When Buying Property in the Caribbean
1 Choosing the wrong location
Some people pick the wrong island in the Caribbean, or even the wrong location on their island of choice. You must do your research to find out if your location has all the facilities and sporting activities that you want. You must also consider current prices, rental potential and future prospects for capital growth. Property purchasers should choose a politically stable country with potential for good capital appreciation and good rental returns.
2 Choosing the wrong sector of the property market
Do not buy an apartment if prices are falling, or buy a property at the luxury end of the market if nobody can then afford to rent it. Examine the historical price trends of properties on the Caribbean island you chose to find out what capital appreciation has occurred in the past.
3 Failure to consider your tax liability in your home country
Some people do not research their tax liability in their home country when purchasing a property in the Caribbean.
· What is the income tax liability on rental profits (revenue less allowable costs)?
· What are the rules on capital gains achieved when selling the property?
· Are there tax treaties between your home country and your choice of Caribbean country to ensure that you do not get taxed twice on the sale of a property?
4 Failure to secure adequate title
Title to land or property is defined differently in various countries in the Caribbean. Again you must do your research and employ reputable lawyers that understand the local land and property laws. It is always best to get local representation.
5 Failure to take exchange rates into account
Exchange rates can significantly influence both the revenue you achieve and the costs you incur (mortgage, management fees, maintenance costs, etc) from your property in the Caribbean. Property purchasers can have their profits reduced or increased by currency fluctuations that occur over time. It is important to decide in which currency you will take out and repay the mortgage because adverse currency fluctuations will lead to an increase in mortgage payments.
6 Failure to research an exit strategy
There must be an active resale market in the location you chose to buy. Otherwise you might have difficulty in selling your property in the Caribbean.
7 Failure to get personally involved
Some people do not visit the various Caribbean locations that interest them before they buy their property and are later unhappy with their choice.
For help on avoiding these issues and finding your dream property in the Caribbean, click on http://www.global.w-wideproperty.com/ and register your name for fantastic property deals in Barbados, St. Vincent and the Grenadines, the Dominican Republic and St. Lucia
Some people pick the wrong island in the Caribbean, or even the wrong location on their island of choice. You must do your research to find out if your location has all the facilities and sporting activities that you want. You must also consider current prices, rental potential and future prospects for capital growth. Property purchasers should choose a politically stable country with potential for good capital appreciation and good rental returns.
2 Choosing the wrong sector of the property market
Do not buy an apartment if prices are falling, or buy a property at the luxury end of the market if nobody can then afford to rent it. Examine the historical price trends of properties on the Caribbean island you chose to find out what capital appreciation has occurred in the past.
3 Failure to consider your tax liability in your home country
Some people do not research their tax liability in their home country when purchasing a property in the Caribbean.
· What is the income tax liability on rental profits (revenue less allowable costs)?
· What are the rules on capital gains achieved when selling the property?
· Are there tax treaties between your home country and your choice of Caribbean country to ensure that you do not get taxed twice on the sale of a property?
4 Failure to secure adequate title
Title to land or property is defined differently in various countries in the Caribbean. Again you must do your research and employ reputable lawyers that understand the local land and property laws. It is always best to get local representation.
5 Failure to take exchange rates into account
Exchange rates can significantly influence both the revenue you achieve and the costs you incur (mortgage, management fees, maintenance costs, etc) from your property in the Caribbean. Property purchasers can have their profits reduced or increased by currency fluctuations that occur over time. It is important to decide in which currency you will take out and repay the mortgage because adverse currency fluctuations will lead to an increase in mortgage payments.
6 Failure to research an exit strategy
There must be an active resale market in the location you chose to buy. Otherwise you might have difficulty in selling your property in the Caribbean.
7 Failure to get personally involved
Some people do not visit the various Caribbean locations that interest them before they buy their property and are later unhappy with their choice.
For help on avoiding these issues and finding your dream property in the Caribbean, click on http://www.global.w-wideproperty.com/ and register your name for fantastic property deals in Barbados, St. Vincent and the Grenadines, the Dominican Republic and St. Lucia
Tuesday, 14 April 2009
Five More Reasons To Buy Property In The Caribbean
1. Emigrating has become more and more popular in recent years. So, if you are disillusioned with the sharp increase of living in the USA or UK or seeing more crime in your local news, then a property in the Caribbean could be desirable. Even with the recent drop in value of USA or UK property, your money may go further overseas, especially in a location which offers near-perfect weather and a laid-back lifestyle.
2. Holidays that give you a holiday. Going on holiday can be stressful; finding nice bars and restaurants, finding what is safe for your children and what is available to entertain them. Holidaying every year at your own property in the Caribbean combines the best of being on holiday and at home. You get the great weather, an amazing change of scenery and a relaxing break without the stress of finding your way in a new place.
3. Retirement nest egg. Buy a property now in the Caribbean to secure your future nest egg. By buying now the property can start paying for itself with rentals and the value will have appreciated by the time you come to retire.
4. Overseas mortgages are available. Many people don’t realise that they can get a mortgage from the country in which they are buying the property. It is vital that if you plan to get your mortgage abroad you research local laws and mortgage conditions carefully.
5. Because you can. Many people dream of owning a place in the sun but never take action. With increased interest in property in the Caribbean, there are now more opportunities than ever for you to choose from.
Click on www.global.w-wideproperty.com and register your name for fantastic property deals in Barbados, St. Vincent and the Grenadines, the Dominican Republic and St. Lucia in the Caribbean.
2. Holidays that give you a holiday. Going on holiday can be stressful; finding nice bars and restaurants, finding what is safe for your children and what is available to entertain them. Holidaying every year at your own property in the Caribbean combines the best of being on holiday and at home. You get the great weather, an amazing change of scenery and a relaxing break without the stress of finding your way in a new place.
3. Retirement nest egg. Buy a property now in the Caribbean to secure your future nest egg. By buying now the property can start paying for itself with rentals and the value will have appreciated by the time you come to retire.
4. Overseas mortgages are available. Many people don’t realise that they can get a mortgage from the country in which they are buying the property. It is vital that if you plan to get your mortgage abroad you research local laws and mortgage conditions carefully.
5. Because you can. Many people dream of owning a place in the sun but never take action. With increased interest in property in the Caribbean, there are now more opportunities than ever for you to choose from.
Click on www.global.w-wideproperty.com and register your name for fantastic property deals in Barbados, St. Vincent and the Grenadines, the Dominican Republic and St. Lucia in the Caribbean.
Thursday, 2 April 2009
Five Reasons To Buy Property In The Caribbean
1. It can offer a great return on investment. The property market in the USA and UK has slumped. However buying in the Caribbean is still a good investment and can make you an annual profit on renting by covering all your costs as well as offering the opportunity for substantial capital appreciation in the next 5 years.
2. It can save you money. By investing in a property in the Caribbean and then arranging to take all your holidays in your property, this will save thousands of pounds in the long run on purchasing holidays.
3. It could pay for itself. A property in a desirable location in the Caribbean could pay for itself through rentals. And in a few years time your dream home will have been paid for without you even realizing it. Many owners of holiday homes find they can generate an income of 10 percent or more of the purchase price each year.
4. It can help you get your foot on the property ladder in the USA or UK. With incomes far lower than the amount needed to secure a mortgage for property in the USA and UK and mortgage companies demanding higher deposits in the current credit crunch, it is difficult for first time buyers to purchase their home. Some properties in the Caribbean are more affordable because they are cheaper off plan. Therefore it is an attractive prospect to buy an off plan property in the Caribbean , wait for it to be built in the next 2 to 4 years and then sell it at an instant profit. This would allow the mortgage on the Caribbean property to be paid off, and with the balance have a large enough deposit to secure a second mortgage on a property in the USA or UK.
5. It can be a lifestyle choice. A holiday home abroad can enhance your life and well being. It gives people the opportunity to expand their ambitions beyond their home and work by buying a property in the Caribbean.
Click on www.global.w-wideproperty.com and register your name for fantastic property deals in Barbados, St. Vincent and the Grenadines, the Dominican Republic and St. Lucia in the Caribbean.
2. It can save you money. By investing in a property in the Caribbean and then arranging to take all your holidays in your property, this will save thousands of pounds in the long run on purchasing holidays.
3. It could pay for itself. A property in a desirable location in the Caribbean could pay for itself through rentals. And in a few years time your dream home will have been paid for without you even realizing it. Many owners of holiday homes find they can generate an income of 10 percent or more of the purchase price each year.
4. It can help you get your foot on the property ladder in the USA or UK. With incomes far lower than the amount needed to secure a mortgage for property in the USA and UK and mortgage companies demanding higher deposits in the current credit crunch, it is difficult for first time buyers to purchase their home. Some properties in the Caribbean are more affordable because they are cheaper off plan. Therefore it is an attractive prospect to buy an off plan property in the Caribbean , wait for it to be built in the next 2 to 4 years and then sell it at an instant profit. This would allow the mortgage on the Caribbean property to be paid off, and with the balance have a large enough deposit to secure a second mortgage on a property in the USA or UK.
5. It can be a lifestyle choice. A holiday home abroad can enhance your life and well being. It gives people the opportunity to expand their ambitions beyond their home and work by buying a property in the Caribbean.
Click on www.global.w-wideproperty.com and register your name for fantastic property deals in Barbados, St. Vincent and the Grenadines, the Dominican Republic and St. Lucia in the Caribbean.
Sunday, 22 March 2009
Can You Find Your Dream Property In The Caribbean and Get To It Easily?
In the Caribbean property types range from studio apartments to large secluded villas. Apartments, houses and villas in tourist areas have good rental and capital growth potential, and there is a huge amount of variety available for those who want a second home or a retirement home in the Caribbean. It is always necessary to research the residency allowances and regulations in Islands that you find attractive to discover what suits your personal circumstances.
Property is available to suit all budgets, although serious investors should aim at the tourist destinations in the islands, since these offer the greatest opportunity for capital appreciation and rental income. Unfortunately this increases the entry costs for investors as properties in these locations are often in demand. Those people wanting to reside or to have a second residential home in the Caribbean will be able to find cheaper properties as they are less affected by wanting to rent their property.
Important points often overlooked in the purchase of a property are the costs or time involved in traveling to and from the property. If a property is expensive to travel to or involves a lot of time, then these can be major factors in deciding whether to buy. There are frequent flights from the USA and UK to Barbados, the Dominican Republic and St. Lucia. St. Vincent is building a new $178 million International airport which is due to be completed in 2011, and it is expected that this will significantly increase international flights to this Island.
Click on http://www.global.w-wideproperty.com/ and register your name for fantastic property deals in Barbados, St. Vincent and the Grenadines, the Dominican Republic and St. Lucia in the Caribbean.
Property is available to suit all budgets, although serious investors should aim at the tourist destinations in the islands, since these offer the greatest opportunity for capital appreciation and rental income. Unfortunately this increases the entry costs for investors as properties in these locations are often in demand. Those people wanting to reside or to have a second residential home in the Caribbean will be able to find cheaper properties as they are less affected by wanting to rent their property.
Important points often overlooked in the purchase of a property are the costs or time involved in traveling to and from the property. If a property is expensive to travel to or involves a lot of time, then these can be major factors in deciding whether to buy. There are frequent flights from the USA and UK to Barbados, the Dominican Republic and St. Lucia. St. Vincent is building a new $178 million International airport which is due to be completed in 2011, and it is expected that this will significantly increase international flights to this Island.
Click on http://www.global.w-wideproperty.com/ and register your name for fantastic property deals in Barbados, St. Vincent and the Grenadines, the Dominican Republic and St. Lucia in the Caribbean.
Tuesday, 10 March 2009
Property Hotspots in The Caribbean
There are many options for investment in the Caribbean, with properties available on more than 100 Islands. There is a large tourist economy with excellent holiday rental opportunities. Those wishing to live or buy a holiday home will have sun-kissed seas and warm comfortable temperatures, a rich cultural heritage, superb cuisine and a brilliant casual lifestyle.
Barbados was one of the first of the Caribbean islands to embrace tourism, and is one of the most developed and prosperous. The island’s strong historical links with Britain and modern infrastructure make it attractive to first-time buyers and to those wanting to retire to the sun from both the USA and UK.
St Vincent and the Grenadines offer yet another alternative. The 32 islands were recently made famous by the success of the “Pirates of the Caribbean” films, and give a feel of the real vibrancy of the Caribbean.
The Dominican Republic , known as the ‘Nature Island of the Caribbean’, is covered by lush rainforests which line the mountainous terrain with waterfalls, lakes and rivers.
St. Lucia is a volcanic island dominated by high peaks and rain forests and is known for the twin peaks of Gros Piton and Petit Piton on the South West coast. It has picturesque fishing villages and beautiful beaches, and is a very popular destination for weddings and honeymooners.
The range of properties available everywhere in the Caribbean varies greatly in price and size depending on location. With prices so attractive and the annual increase in popularity with tourists in the Caribbean, investors see these four property hotspots as a safe investment with prices only set to rise and rental potential increasing in line with their popularity. Above all these four property hotspot locations offer excellent value for money.
Click on http://www.global.w-wideproperty.com/ and register your name for fantastic property deals in Barbados, St. Vincent and the Grenadines, the Dominican Republic and St. Lucia in the Caribbean.
Barbados was one of the first of the Caribbean islands to embrace tourism, and is one of the most developed and prosperous. The island’s strong historical links with Britain and modern infrastructure make it attractive to first-time buyers and to those wanting to retire to the sun from both the USA and UK.
St Vincent and the Grenadines offer yet another alternative. The 32 islands were recently made famous by the success of the “Pirates of the Caribbean” films, and give a feel of the real vibrancy of the Caribbean.
The Dominican Republic , known as the ‘Nature Island of the Caribbean’, is covered by lush rainforests which line the mountainous terrain with waterfalls, lakes and rivers.
St. Lucia is a volcanic island dominated by high peaks and rain forests and is known for the twin peaks of Gros Piton and Petit Piton on the South West coast. It has picturesque fishing villages and beautiful beaches, and is a very popular destination for weddings and honeymooners.
The range of properties available everywhere in the Caribbean varies greatly in price and size depending on location. With prices so attractive and the annual increase in popularity with tourists in the Caribbean, investors see these four property hotspots as a safe investment with prices only set to rise and rental potential increasing in line with their popularity. Above all these four property hotspot locations offer excellent value for money.
Click on http://www.global.w-wideproperty.com/ and register your name for fantastic property deals in Barbados, St. Vincent and the Grenadines, the Dominican Republic and St. Lucia in the Caribbean.
Monday, 9 March 2009
Why Buy Property In The Caribbean?
To most people the Caribbean symbolizes luxury. People dream of holidays in these exquisite islands. However to buy property in such a tropical paradise is often fantasy. The superb weather and a casual lifestyle attract buyers who want to get on the Caribbean property ladder. Another attraction is tax-free living which many islands offer. English is widely spoken. There are frequent flights from the USA and the UK. The political stability reflects the casual lifestyle. There are many golf courses and large marinas which attract tourists, as well as cruise ships which visit many Caribbean islands.
A home in the Caribbean is a lifestyle choice. Whether you intend to live there yourself, or rent out your property and allow others to enjoy it, a property on one of these islands is one of the best investments you will ever make.
Click on http://www.global.w-wideproperty.com/ and register your name for fantastic property deals in Barbados, St. Vincent and the Grenadines, the Dominican Republic and St. Lucia in the Caribbean.
A home in the Caribbean is a lifestyle choice. Whether you intend to live there yourself, or rent out your property and allow others to enjoy it, a property on one of these islands is one of the best investments you will ever make.
Click on http://www.global.w-wideproperty.com/ and register your name for fantastic property deals in Barbados, St. Vincent and the Grenadines, the Dominican Republic and St. Lucia in the Caribbean.
Subscribe to:
Posts (Atom)
Golden Palms
.jpg)
Photo from "The Barbados Tourism Authority"