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Caribbean Real Estate Set To Be Top Seller In 2010
March 9, 2010Article by Ray Withers
Caribbean real estate is to be one of the biggest sellers this season, international property investment consultancy Property Frontiers has announced. The firm has said that sales of Caribbean real estate have increased at a faster rate since the Greek debt problems brought inflation and currency devaluation fears, and it is the continuance of these fears that will make the Caribbean one of the best sellers.
Director of the firm David Cox said:
“The Greek debt problem is bad enough, but it receiving so much publicity has exposed the fact that deficits in many other EU countries and the UK aren’t all that much smaller than Greece’s. With Germany refusing to give a clear indication with regards a bail-out there is a real lack of confidence in the Euro, and in the pound.
“Add to these fears that we could be looking at runaway inflation, and you can see why people are keen to put their cash-savings into something safer. With gold prices having already risen so hugely because of those who felt these fears early, real estate becomes one of the best options. Caribbean real estate then stands out as one of the best because the Caribbean has remained largely outside the global financial networks and as such is largely insulated from the volatility.
“Grenada and other high end markets are emerging as the favourites, because they are themselves insulated from the volatility, and because it is predominantly those with large amounts of cash that are worrying about it devaluing.
Property Frontiers is currently marketing several Caribbean real estate developments for sale, including the Bacolet Bay Development in Grenada.
Bacolet Bay is a unique and refined property, because it is a five star resort set amidst 41 acres of tropical beach-fronted gardens. The price range from £333k for a studio cottage to £645k for a 2 bedroom villa is perfect for those with several hundred thousand to solidify (opposite of liquidate).
As has become customary in the Caribbean property sector, Bacolet Bay units come with a couple of sweeteners to the deal, namely: free furniture packs and paying the guaranteed rental income — a 10% yield for the first 3 years — upfront on completion. After the first 3 years owners receive 50% of the net yield, which is expected to be more than 10%. Owners also receive 30 days free usage per year.
For those that are buying for other reasons 70% finance is also available, and just a 5% deposit is enough to reserve. 2 bedroom apartments and 1 bedroom villas are also available.
For more information contact Property Frontiers on +44 (0) 1865 202700.