5 March 2019
Investment in infrastructure, rising tourism figures and glorious year-round sunshine continue to ensure the Caribbean region gets top ranking as a great place to buy a property.
365 days of Sunshine
It doesn’t matter if you are buying an island home to live in, or investing in a property to rent out to vacationers, the gorgeous year-round weather in The Caribbean is a major draw. Rental villas can achieve year-round occupancy in the most popular island locations, thanks to the region’s 365 day sunshine. Although situated in the tropics, the islands are not unbearably hot and the islands are blessed by cooling breezes. Temperaturevariation are slight, rarely falling below 28 degrees Celsius in both winter and summer. Downpours are often followed by bright sun.
Running from June to November, the official hurricane season is well-supported by a satellite forecasting system that can raise the alarm with good warning. Recent building developments are constructed to withstand such forces.
Regional stability
Largely untouched by political unrest, or the recent spate of terrorism, the Caribbean is a rare part of the world that have been secure, safe and stable. Efforts since the early 1990’s to form a united Caribbean community have led to a proactive campaign by various Governments to promote their countries as an excellent investment opportunity to overseas buyers. With the exceptions of Cuba and Haiti, the islands enjoy healthy democratic governments. Lively debate is encouraged so politics is far from dull. Elections, like almost everything else, are generally a pretext for a party.
Religious stability is prevalent in Caribbean life where there is a great mix of religions and beliefs, all cohabiting side by side. Christianity is the major religions, but it is common to see Hindu temples situated next to churches.
Rental income
If you plan to use your Caribbean property as an income stream, the region’s highly established popularity with tourists means there is always a stable rental pool. Yields of 12% aren’t uncommon (weekly rates start at around £2,000 for a family-sized property). So as long as the UK continues to offer cold unpredictable weather for the majority of the year, the demand isn’t likely to change!
Lifestyle
For most people, the Caribbean represents our vision of paradise: the perfect summer ideal with flawless sands, vvid exotic blooms and warm, crystalline waters. Tourists associate this highly desirable lifestyle with its leisurely pace of life and laid-back ‘no rush’ attitude with the perfect holiday vibe. To live here, or spend extended periods in the Caribbean in amongst the warm smiles of the local people is a stress-free dream come true for most of us. For the sports minded there is world-class scuba diving, windsurfing, cricket, fishing or golfing to partake in. Celebrities gush about their love of the Caribbean, from the boutiques in Tobago and the seafood restaurants of Antigua to the fine rum and wine bars of Barbados. Having access to this sort of lifestyle, or even better, living in a home in the Caribbean, is a sure-fire way to acquire immediate jet-set appeal
Culture
Caribbean culture centres on its love of party and the biggest event of the year is the carnival. Each island has its own carnival yearly with Trinidad being considered the most famous and spectacular. Music forms the beating heart of every island with calypso, soca and reggae and is nowhere stronger than in Jamaica - the home of Bob Marley. Colonialinfluences can be found its upheld sporting traditions, such as cricket and horse racing where events inevitably end in a party!
Tax Advantages
The Caribbean is synonymous with the tax benefits it offers with each island offering advantages under its own distinct legal system. Best known are the Cayman Islands and Turks and Caicos where an absence of property taxes, income tax, capital gains tax, inheritance tax and stealth taxes are further enhanced by zero restrictions on the foreign ownership of property. In the Bahamas, income tax has also been abolished and it offers other advantages such as non-expiring building rights. Other islands offer other tax benefits even if they are not complete tax havens, e.g. in Barbados purchasers don’t pay transfer tax or stamp duty; in the Dominican Republic, there are no real estate taxes; while buyers in St Kitts and Nevis offers eligibility for alternative citizenship and passport as well as exemption from income tax, capital gains tax, wealth tax and inheritance tax.
Accessibility
Frequent flights from the UK and the US serve the Caribbean region year-round, ensuring maximum opportunity for enjoying your Caribbean home or using it for income potential. Long-standing trade, tourism and cultural ties exist between the Caribbean and the UK. Many Caribbean islands are on the most popular cruise liner itineraries departing ports from the UK and US.
