Caribbean Real Estate Attracts US Buyers and Investors
US buyers are becoming drawn to properties in some of the less well-known Caribbean islands, says Ricardo Cardenas, who is vice president and regional director of RE/MAX in the Central America and the Caribbean.
Cardenas believes that fast growing and affordable markets like the Turks & Caicos, Belize, Grenada, St. Croix, St. Vincent & the Grenadines, St. Kitts & Nevis, and the Dominican Republic offer a welcome alternative to “more mature and pricier markets” in like the US Virgin Islands, Jamaica, Puerto Rico, and the Cayman Islands.
“These areas are less traveled, and have less infrastructure, but attractive prices, ranging from US$200 to $500 per square foot,” said Cardenas of the increasingly popular island countries.
“Property values are low in many areas, but they are appreciating rapidly, so a relatively small investment can yield good returns,” he added, stressing that purchasing a second home in the Caribbean is a relatively low-risk investment.