Caribbean Real Estate Eye Candy for U.S. Investors

Wednesday, February 22 2006 @ 02:17 pm UTC

Contributed by: jron

Places like the Turks & Caicos, Belize, Grenada, St. Croix, St. Kitts & Nevis, St. Vincent & the Grenadines and the Dominican Republic, are attracting U.S. nationals.

“The Caribbean real estate market for American buyers is strong and getting stronger,” Ricardo Cardenas, vice president and regional director of RE/MAX of the Caribbean and Central America, said.

"These areas are less traveled, and have less infrastructure, but attractive prices, ranging from US$200 to $500 per square foot," he added as he cited the seven islands mentioned above as among the fastest growing markets, based on affordability.

But high-end properties in the Caribbean can range from the high six figures to as high as US$40 million, Cardenas said "Tourism is well-established in these areas and you can easily find 5-star hotels and other amenities,” and added “ Prices range from US$500 to $1,000 per square foot."

"Purchasing properties in the Caribbean could be a good hedge against a domestic market that is slowing down," Cardenas advised.

Cardenas said that second home purchasing in the Caribbean a relatively low risk process, he concluded "Property values are low in many areas, but they are appreciating rapidly, so a relatively small investment can yield good returns."

By: Dijon Wainwright