Would you buy a property in the Caribbean for investment if you had the money, and why?
Why would you choose the Caribbean? Where in the Caribbean? Have you been there before?
Asked on Feb 9 2010,
Selling in Hove |
Depends on what your short medium and long term aims are. Recent years aside the UK housing market is far less volatile than the caribbean but the right property suitable for the Holiday rental market can bring much higher yields and may give you a nice play to go on holiday. I have visited Antigua Mexico and Jamaica all of which provide investment potential. Personally if I was buying abroad I would buy closer to home in a one of the new emerging markets such as Cape Verde or Bulgaria more risk but much lower property prices and more chance of sizeable capital growth percentage wise in the medium term.
Answered on Feb 11 2010,
I have always said buy what you know. If you know the market, the islands and the best/worst areas of the islands, then thats great. If you have heard it because of an article in the Daily Mail, then beware.
Do your homework. Surely it would be better to buy in your UK town. You know the areas, the streets, where is good and where is bad. You know the property laws and if there is a problem, your a few miles away and not a £600 airfare away.
Take care and go into with both eyes wide open.
PS .. can i book November next year ;-)
Answered on Feb 11 2010,
I'd buy but I also have had 6 years experience dealing with overseas property, without that I would have to do a magnificent amount of due diligence before reaching a conclusion.
Buying overseas can be an absolute mine field, I think the main problem seems to be the thought that you should somehow settle for less when buying abroad, this needn't be the case.
We were offering Caribbean property but decided to pull it because the developer could not show us details of land purchase or planning permissions....
Since then we have found a developer who is building in Cape Verde, they offer a full due diligence pack and we are actively selling their property.
All in all I would say that if you are buying for investment go for the opportunity that offers you the best return on your money but also the most solid investment, if you decide that's the Caribbean, so be it.
Answered on Mar 18 2010,
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