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Buying a Piece of the Caribbean
Author: The Global Property Guide  | Posted: 28-04-2008 | Comments: 0 | Views: 4 | Rating: (120)  (?) 
 The Caribbean, the playground of the rich and famous, has been getting more affordable. The depreciation of the US dollar against major currencies such as the British pound and the euro, has made Caribbean properties more attractive.
More affordable… but still not cheap! Property prices in more popular and developed islands can easily reach over one million US dollars for a house and lot near the beach.
In its latest survey of Caribbean property prices (March 2008), the Global Property Guide finds that in Bermuda, the average price of a three bedroom house and lot is around US$1.5 million.
In Grand Bahama, Bahamas, a similar property costs around US$1.4 million, according to Global Property Guide figures.
Property prices in highly-developed areas such as Bermuda and Bahamas exceed US$7,000 per sq. m.
Coastal properties in Barbados are also expensive, at around US$6,700 per sq. m. In the British Virgin Islands (BVI), the US Virgin Islands (USVI), real estate prices are around US$5,000 per sq. m. Sint Maarten also has expensive properties at around US$5,300 per sq. m.
Property prices in St. Kitts and Nevis, Puerto Rico, Martinique, St. Lucia and Antigua and Barbuda range from US$3,170 per sq. m. to US$4,500 per sq. m.
The cheapest Caribbean properties are found in Jamaica, Aruba and Dominican Republic, with prices ranging from US$1,300 per sq. m to US$1,500 per sq. m for houses near the beach.
For apartment buyers, Bermuda and Turks and Caicos Islands (TCI) are among the most expensive with prices at around US$5,000 to US$8,000 per sq. m. A two bedroom apartment costs around US$841,000 in Bermuda and US$670,000 in TCI.
Despite these high prices, Caribbean properties are now considerably cheaper than coastal properties in Mediterranean Europe. For instance, apartment prices in Barcelona are around US$10,000 per sq. m., more than twice the price of apartments in Bahamas or Cayman Islands.
Apartments in Jamaica and Aruba are among the least expensive in the Caribbean at around US$1,500 per sq. m. Apartments and condominiums are relatively new features in the Caribbean property market. Most of the properties are new and come complete with amenities.
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The Global Property Guide is an on-line property research house.
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Economics Team:
Prince Christian Cruz, Senior Economist
Phone: (+632) 750 0560
Cell: (+63) 917 735 2228
Email: prince@globalpropertyguide.com
Publisher and Strategist:
Matthew Montagu-Pollock Phone: (+632) 867 4220 Cell: (+63) 917 321 7073
Email: editor@globalpropertyguide.com
Address:
Global Property Guide
http://www.globalpropertyguide.com
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Legaspi Village, Makati City
Philippines 1229
info@globalpropertyguide.com
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About the Author:The Global Property Guide is a research publication and web site for the high net worth investor in residential property – providing information about the process and benefits of buying property in any country in the entire world.
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Got a Question? Ask.
Ask the community a question about this article:
Frequently Asked Questions
Property
By: highersites | 01-07-2008
anyone in the process of buying a home? if so, hows' your experience been so far?
Do I also lease the land around my house as it is ...
By: carole | 30-06-2008
Do I also lease the land around my house as it is on my land regisrty title - the house is leasehold.
Demographic audience analysis
By: Davith golodrina | 30-06-2008
what is demographic audience analysis?
HOA Lien
By: lmoreno | 29-06-2008
I recently had a lien applied to my property due to late association dues. The company issuing the lien is charging me $800. How much bargaining power do I have with the agency with regards to getting them to lower this fee?
Joint mortgage, tenants
By: BigRedEd | 29-06-2008
I just bought a house with my fiancee. The mortgage is in both our names. Should we file as tenants in common or individually?Should we have gotten married before Dec. 2007?
How do i figure my acre of my land? my deminsions ...
By: Mwashin | 29-06-2008
how do i figure my acre of my land? my deminsions are a.(left) 103.2 . b. (rear) 140.0ft c. (right) 132.0ft d. front 49.84ft. thanks Mwashin727@aol.com
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