The Caribbean continues to be a booming market for real estate, in general, owing to the steady influx of tourists and immigrants who stream into this exotic group of islands year in and year out. Home of many beautiful beaches, the countries of the Caribbean attract thousands upon thousands of people every year to their beautiful shores.
The commercial real estate industry in the Caribbean is currently very strong. Analysts predict that the said market can only get stronger with time. Commercial real estate in the Caribbean is readily available for investment purposes. An individual can choose to invest in an established location and be sure to receive large returns. On the other hand, one can also choose to buy in bulk, and receive large returns when reselling the property.
At present, the cost of commercial properties in the Caribbean remains low. This is especially true in the Caribbean coastal regions of Central America, such as Costa Rica, Panama and Honduras. Also, other countries in the Caribbean are becoming hot property, including Grenada, Belize and the Dominican Republic.
Although the costs of these properties are low, their values are gradually appreciating. As such, one can opt to invest in a small piece of land at present and receive a large return of investment in the future.
There are also several areas in the Caribbean that already have an established commercial real estate industry. The more expensive markets in the Caribbean include Puerto Rica, the U.S. Virgin Islands and Jamaica, to name a few. Commercial real estate in these areas generally cost more than the rest of the Caribbean countries because they tend to attract more tourists throughout the year. Also, more affluent travelers tend to frequent the areas. For this reason, these areas have high-end accommodations and five-star hotels scattered throughout.
The Bahamas remains to be one of the hottest areas for the commercial real estate industry in the Caribbean. Rest houses and vacation rentals are almost always filled to capacity throughout the year. At present, there is a growing number of the retiring population interested in residing in the Bahamas. This adds another group to the already large market for commercial real estate in the Caribbean.
A number of investors bringing their money into Caribbean commercial real estate are getting attracted, not only by the gorgeous beaches, but also by the tax policies in certain Caribbean countries. Take, for example, Belize. Belize has a taxation framework that aims to promote international business and trade. No inheritance taxes or capital gains are required in the country.
Another attractive fact about commercial real estate in the Caribbean is that certain countries, such as the Commonwealth of Dominica, allow investment for environmental purposes. The lush surroundings allow this specific form of investment. In the Commonwealth of Dominica, investors can opt to buy certain rainforest land, which may be used for environmental and tourism-related projects.
The natural beauty of the Caribbean and the large market that it serves ensure that Caribbean commercial real estate industry will not slow down any time soon.