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Caribbean Real Estate an Early Riser
January 22, 2010Article by Ray Withers
Overseas property analysts have forecast that sales would see significant increases in 2010 starting with a significant jump in enquiries from around mid-February. However, according to reports this week Caribbean real estate leads are already starting to take off.
David Cox, a director of Property Frontiers, a UK based international property investment consultancy said:
“When we saw sales begin to increase from April last year, and Caribbean real estate being among the favourites, we forecast that there would be an even bigger increase as the winter worsened and Christmas faded into the distance at the beginning of 2010.
“Traditionally January is slow and February is when the leads start to roll in, and so we thought the same would happen in 2010. Surely we couldn’t have foreseen such a massive jump in the number of enquiries into Caribbean real estate the second week after the festivities ended.”
“It just goes to show that a rebound can be just as unpredictable as a crash, especially one of the global proportions that we have just witnessed,” he added.
Cox finally said that the biggest increase in leads has been in Grenada, with a surprising number of enquiries coming in for the more expensive units on Trinidad and Tobago.
Property Frontiers are currently marketing several high quality Caribbean real estate developments. Perfect for the mid-budget sun-seeker is the Bacolet Bay development in Grenada.
Bacolet Bay is a 5 star resort development offering cottages apartments and villas set in 41 acres of lush tropical gardens, all right beside one of Grenada’s finest beaches. Bacolet Bay is a place where you can really get away from it all, yet it is just 10 minutes from Point Salines International Airport and the capital St George’s.
Incredibly prices start from just £333k for a studio cottage, with a free furniture pack and maintenance and mortgage fees paid for 3 years — only a 15% deposit to reserve, with 70% finance on completion.
Bacolet Bay is undoubtedly an excellent lifestyle choice, but with 3 years guaranteed rental of 10% per year paid in advance, 50% share of net rental income 10%+ payable after year 4, and 30 days free usage, its investment potential should not be downplayed either.
Property Frontiers are also marketing a high end luxury resort development on Trinidad and Tobago offering 3 and 4 bedroom apartments and 4 bedroom penthouses priced from a cool million.