What are the Four Rs to Remember When Buying a Property in the Caribbean?

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.