The Caribbean property market is booming and here are some of the reasons why you need to invest in the Caribbean with www.7thheavenproperties.com
Emerging Market: The Caribbean is experiencing tremendous growth with islands such as St. Lucia, Grenada, Dominican Republic and St. Vincent receiving unprecedented foreign investments. Property prices in the Caribbean represent excellent value for money and due to the strength of the Euro and pound investors are enjoying record returns. The Caribbean has just been upgraded to an investment hot spot according to recent research by independent property investment advisors, London International Property.
Tourism now underwrites the regional economy of most of the islands.
Caribbean tourism is expected to generate US$56.1 billion of economic activity; between now and 2017; earnings from tourism will grow by 3.3 % per year.
Over the last few years the region has experienced tremendous growth in tourism and property development. In 2006, the region as a whole exceeded GDP growth by almost two percentage points, reaching 7.2%. This was broadly attributable to improved terms-of-trade and increased foreign investment. In addition, other factors including growing investor and consumer confidence, relatively low real interest rates, higher public spending and an increase in total income accruing to labor (driven by rising employment and a modest upturn in real wages) -- helped turn domestic demand, which rose by 7.0%, into an engine for growth.
The Caribbean property market is extremely buoyant. While other markets such as the US falter, the Caribbean is the “next big thing” for the discerning investor. Return on investments as high as 30% in Year 1 is commonplace on islands such as St.Lucia and Barbados.
The buy to let market in the Caribbean is taking off due to an increase in visitor numbers and regular international direct flights.
The robust growth in international travel is expected to continue: the World Tourism Organization has projected international travel to grow by 4.4 percent in 2006/2007.
7th Heaven Properties is the Caribbean property specialist, offering homes, villas, land and commercial real estate for sale from across the entire Caribbean, including. Please see our website for all kinds of Caribbean property for sale
Labels: Caribbean property market, Caribbean real estate