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Hear the Call of the Caribbean
July 5, 2010Article by Ray Withers
Property in the Caribbean is to continue its reign as one of the top choices for foreign buyers throughout this year and next year at least according to experts. International property investment consultancy Property Frontiers believes that Caribbean property will be one of the few popular choices for as long as the current financial instability and spending cuts stay at the forefront of our minds. Director of the firm David Cox said:
“Despite recent reports over increasing searches for low-budget destinations like Bulgaria et al, for as long as financial instability and job insecurity reign, only the wealthy will risk putting money into an overseas property, those for whom it isn’t really a risk.
“In fact far from being a risk; many wealthy people view their purchase of a property in the Caribbean as a safety net against financial volatility and currency devaluation. This is the same reason why many wealthy people from around the world are buying prime property in London, and many other places around the world. Out of that, the Caribbean is a top choice, because it has proven itself as insulated from the financial volatility, and where better to get away from it all than a Caribbean beach.”
The financial volatility has and is giving birth to another driver of popularity for Caribbean property; depression over cut-backs aimed at reigning in the spending of our governments. Thus, for many it becomes a double-pronged desire to go for property in the Caribbean above others according to Cox:
“Around the world prime property has held its value far better than other classes, and this is truer nowhere than in the Caribbean. So, buyers bought prime property because it was a safe bet, and safe asset to hold when even money wasn’t, but with no reason to go for the Caribbean above anywhere else. That could change now, as the government puts us in the doldrums with increasing taxes and spending cuts, the call of a Caribbean beach will no-doubt be heard all the more loudly when choosing where to buy.”
Property Frontiers are currently marketing some excellent properties for sale in the Caribbean, including the award winning Bacolet Bay development in Grenada. Set in 41 acres of lush tropical gardens, Bacolet Bay offers beach-front living from just £333k for a studio cottage. For those on a lower budget, Property Frontiers is now offering apartments from £26,700 in the Caribbean Residencies at Bacolet development.?
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