Find out what’s happening in the property investment arena both in the UK and internationally
Daydream Believers Can Buy In The Sun
April 13, 2009Article by Ray Withers
Forget about the recession for a moment and just daydream about owning Caribbean property on a pleasure island in the sun. For many this is more than just a daydream, because for the average price of a semi or a detached house in the UK, you can buy a slice of luxury on several islands. According to the latest Land registry figures, the average price of a detached house in the UK is just over £315,000 and a semi comes in at £182,000.
The average price of a house in the UK is £205, 372. So what could you buy for that price in the Caribbean?
One consultant with a choice of properties in different styles and locations across the Caribbean is Property Frontiers, of Oxford. Their line up of Caribbean property investment developments includes:
* Indigo Bay, Trinidad and Tobago , a resort development of studio, single and two-bed apartments from £122,800. Tobago is one of the world’s most popular ‘eco-tourism’ destinations. The annual investment return on Indigo Bay is predicted to hit 55%
* Bacolet Bay, Grenada, Caribbean , is another resort development. The setting, that was once the location of the famous 1950s movie Swiss family Robinson offers a range of studios, apartments and villas costing from £310,000. Bacelot Bay comes with all the state-of-the-art facilities you would expect. From a luxurious five-star resort set in 41 acres of tropical gardens.
* Villas and apartments in Frigate Bay, Saint Kitts , bordering the Royal St Kitts Golf Course, range in price from £188,000 to £448,000 Yields are anticipated to reach between 8 -11%, plus economic citizenship is available on certain properties.
* If going green is more your style, then look at the Belize Reserve (- property-link) eco community in Western Belize.
About 350 half-acre plots make up several small villages for private housing. The plots cost £24,950 and the builder will put up your house at cost – about £34,950 on top of the plot price, depending on what you pick from the three designs. The community was awarded an ‘excellent’ kite mark from the independent whatgreenhome.com web site . The resort properties at Indigo Bay and Bacolet Bay include owner membership of facilities and free and discounted use for the owner, family and friends. The villas and apartments at Frigate Bay are traditional second homes, with possibilities to let as holiday homes and for personal use.
All this Caribbean real estate falls within the top price for a UK detached house – except for the very top of the range properties at Frigate Bay. Forget the white sand palm fringed beaches, blue Caribbean seas and warm nights sleeping under the stars – it’s just a daydream and not reality. Nevertheless, it’s interesting to compare what you could buy for the same money in other countries – and don’t forget that the cost of living in the Caribbean is a lot, lot less than that in the UK.