Property
Why buying in the Caribbean promises to be a sound investment, plus all the latest property news
David Cox is the director of overseas property investment specialists Property Frontiers and author of Where to Buy Property Abroad: An Investor’s Guide. +44 (0)1865 202700; www.propertyfrontiers.com; www.aninvestorsguide.com
OUR PROPERTY EXPERT SHARES HIS TIPS ON BUYING OVERSEAS – PLUS SOME OF THE LATEST PROPERTY NEWS
I HAVE TICKETS FOR THE CRICKET WORLD CUP IN THE CARIBBEAN. WOULD IT BE A GOOD IDEA TO LOOK FOR AN INVESTMENT PROPERTY WHILE I’M OUT THERE?
THE CARIBBEAN HAS long been synonymous with luxurious living. It remains one of the world’s most popular holiday destinations, with a year-long season and sumptuous scenery.
However, the Caribbean is not just a destination for the most affluent tourists. Recent developments in infrastructure and a diversification in the kind of property on offer means the region has blossomed into a thriving property investment market with high rental returns. English is widely spoken throughout the region and accessibility is quite straightforward. Mortgages of up to 70% LTV are available and there are low property and capital gains taxes on most of the islands. In addition, the media coverage from the 2007 Cricket World Cup and the consequent growth that should result mean the Caribbean is seen as more than just a place for a holiday.
Both Barbados and Antigua are now established destinations. Antigua has experienced a recent property boom thanks to improved flights, extensive investment around Jolly Harbour and outstanding golf and yachting facilities on the west coast.
Barbados is also a popular choice for real estate as its infamous Gold Coast has some of the region’s most famous beaches. However, because of its popularity, property prices here are significantly higher than some of the less exposed islands.
Grenada is one of the most exciting markets. With its picturesque interior of rainforests and waterfalls and its coastline of protected bays and secluded beaches, it is the last undiscovered jewel of the Caribbean. It is also the fastest growing tourism market in the Caribbean with the World Travel and Tourism Council predicting tourism growth of 5.5% per year between 2006 and 2015.
While investment in the Caribbean has the potential to be extremely rewarding, as with any investment venture there is an element of risk involved. The legalities from island to island differ enormously so it is imperative that you conduct the necessary research into both judicial and fiscal policies. Although Grenada itself is outside the hurricane belt, many of the other islands are prone to them so make sure that any purchase is built to hurricane standard. But, with the right research, professional advice and build standards, investing in the Caribbean could be a smart move.
SHOW BUSINESS
COMING TO EARLS
Court, London, from 20-22 February, International Confex is the UK’s leading event exhibition for people who like to throw a party to remember. Its aim is to create a collision of people who organise events with providers of venues, destinations and event support services. There are also two post-show drinks events in London for networking and on the last day of the show sports clubs and agencies will be inviting along various celebrities. And when you’ve had enough of talking shop, the “Fun Frenzy” area will have shoot ‘em ups and a simulation machine and the Secret Garden promises a spa environment with free beauty treatments. www.international-confex.com
