buy caribbean property

Real estate in the Caribbean property market often requires significant investments. With this, investors must know if they get a good value should they buy a Caribbean property. Value of investment often depends on the investor and their individual requirements. Some choose to buy property in the Caribbean because they want to acquire a second passport, which gives freedom to travel in more than 100 countries. Others buy because they want to reduce their tax burden and protect their assets. 

Where to Buy Caribbean Property?

Bocas Del Toro, Panama

Panama condos have an asking price of less than US100,000. They are good investment properties since they provide an opportunity of owning a beautiful beachfront property in Bocas del Toro, an eco-tourism destination with growing popularity among tourists. Nestled in the pristine rainforest, the condos have an attractive ROI. The developer offers a 15% rental income guarantee, not bad for a condo less than US$100,000. 

Rental properties in Panama have yields ranging from 5.7% to 7.3%. Properties along the beach are much more expensive but provide better rental rates, with smaller apartments posting more yields. 

Roatan, Bay Islands

If you want to buy a Caribbean property featuring coastal features at an affordable price point, Roatan is the top choice. Roatan located in the Bay Islands has some of the most beautiful beachfront properties in the area. Condos, for instance, have an average asking price of US$125,000. The condos will literally place you steps from the white sand beaches. Most of these condos also feature beach lagoon, large swimming pools, restaurants, and a marina. The cost of living in the region remains low. Long-term monthly rent starts from US$600 monthly. Condos with sea view have rental prices ranging from US$1,000 to $1,500 monthly. 

Punta Cana, Dominican Republic

Of all the places in the Caribbean, the Dominican Republic remains one of the best destinations to buy a property. Its stunning beaches, amazing golf courses, and world-class real estate with attractive prices have helped put them on the map. Condominium developments in the area are all close to the beach. Most have on-site amenities like restaurants, golf courses, huge swimming pools, and beach clubs. 

The surge in foreign property investors in recent years has helped to push the prices up by as much as 10% annually. Investors can buy a Caribbean property with a sea view for only US$100,000. Beachfront properties, on the other hand, have a starting price of only US$150,000. Properties in this area of the Caribbean have net rental yields of 10% yearly. 

Kingston, Jamaica

Kingston is enjoying a real estate capital boom as a result of decreased property tax and mortgage rates. This has led to new apartment developments in the capital city. Many of these developments are near shops, restaurants, schools, and hospitals. 

A 3-bedroom apartment in Kingston and St. Andrews can cost you roughly US$240,000. Whereas 3-bedroom homes can take you back for around US$330,000. As prices remain stable, yields are getting better. Kingston, along with St. Andrews, has strong rental yields reaching 10% annually. 

 

Sharing is caring!