There is affordable real estate to be found in a number of Caribbean markets that seem ready for growth. These markets are all primed for economic booms in the coming years and each of them has an inventory of move-in ready homes that are perfect for retirement and for investment. Some Caribbean nations have even begun financing resort projects by selling citizenship as a means of encouraging investment. Still another benefit of investing in Caribbean real estate is that the homes are relatively affordable. Furthermore, these locations all have large ex-pat communities that can provide social familiarity so that new residents feel at home.
The Best Locations for Investing in Caribbean Real Estate
Below is a look at some of the areas that are poised for economic growth. These areas have been selected based on their real estate prices, as well as on their economic outlook.
• Belize
Belize is located right in the middle of Central America and its real estate market is thriving. It had two communities on a recent CBS News list of top real estate investments. Historically, it has not gotten as much attention as the countries around it; however, it now has a mature real estate market that is very attractive for North American investors. The nation has a stable economy and a GDP that has grown in recent years and that is expected to keep growing into the future. Belize has a number of benefits for Americans in that it is relatively easy to access as it is only a little over 90 minutes from Miami. Belize is also considered a tax haven as it has no capital gains tax. While Belize has recently gained popularity with investors, there is still a lot of potential for growth and new ventures.
• Costa Rica
Political and economic stability are two of the factors that make Costa Rican real estate an attractive investment option. Exports and tourism are strong. Additionally, Costa Rica has the highest per capita level of foreign investment in Latin America. This Latin American country has been profitable for real estate for a long time and while the recent financial crisis did have an effect on its market, the prices have become stable in recent years. The Costa Rican GDP is expected to rise, which will make its real estate more attractive to investors. Buying property in Costa Rica is relatively easy and can be done with a tourist visa.
• The Turks and Caicos
According to Residencial Casa Linda, “These islands lie to the north of the Dominican Republic and are considered one of the fastest-growing Caribbean markets. Both condominiums and single-family homes are offered for relatively low prices and most of the properties are sold fully furnished.” Investing in Turks and Caicos real estate is relatively easy as there are no stringent rules for conducting business. While investors will have to pay a stamp duty, there is no tax of any kind. The stamp-duty is a one-time cost that is paid when purchasing property.
• St Kitts and Nevis
This two-island state is the smallest sovereign nation in the Americas. It has seen real estate investments increase significantly in recent years and the local housing marketing is expected to remain strong. The GDP is also expected to increase through 2016. For those seeking to invest here, St Kitts and Nevis offers a Citizenship Program whereby applicants can gain citizenship by investing at least $400,000 in an approved real estate development. Applicants will also be required to pay government fees along with various other fees and taxes.
Smart investors are already moving in to provide North Americans with suitable retirement properties. If you want to get in on the projected growth and earn big profits, now is the time to invest.
