Buying Caribbean island property can be a great investment. Property in the Caribbean is still on the up and up. Some of the best investments can still be had. Whether you are looking for a condo, villa, detached home, there are availabilities to suite almost any budget.

The majority of the region’s economy is underwritten by tourism-related industries and recent research has shown that tourism is expected to generate US$56.1billion of economic activity between now and 2017 with earnings expected to grow by 3.3 percent a year.

The Caribbean Property Market

The Caribbean is known throughout the world as a tax haven. The vast majority of islands carry no corporation tax, no personal income tax, no estate or inheritance tax and no annual real estate tax. Plus, there is the not insignificant bonus of fantastic duty-free shopping.

All of these factors carry enormous appeal for foreign investors, as do the increasingly frequent and competitively priced flights. The Caribbean’s main islands of Barbados, St Lucia and Bahamas to name but a few are by no means an emerging market but are mature and proven destination for holiday makers throughout the world. This means that it can provide the investor guarantees that they will produce high rental yields year on year.

Also the less known islands you can ride on the back of the tourism but at a cheaper entry level such as the island of St Vincent and Dominican Republic knowing you will still achieve the rental yields unparallel to other destinations.

Caribbean – One Of The World’s Top Tourism Hotspots

The phenomenal and continuing surge of tourism and investment in the Caribbean ranges from the prestigious hi-brow glamour of islands such as Barbados and the Bahamas, to the exciting emerging markets of the less developed islands of the Dominican Republic and the Turks & Caicos.

This has also sparked indirect growth in numerous other domestic industries such as construction as well as various service- and tourism- related enterprises. By and large most other industries in the Caribbean rank below tourism in profitability. In the US Virgin Islands, for example, tourism provides 70 percent of the island’s jobs and accounts for more than 70 percent of the Gross Domestic Product (GDP).

Tourist arrivals to the Turks & Caicos rose from 87,000 in 1996 to 200,000 in 2006, more than half of which were from the United States.

The Dominican Republic is also one to watch with property investment surrounding new golf courses, as is Isla Margarita, especially with the construction of a 350 million US dollar Formula One Circuit.

Security For Overseas Property Buyers

Buying a property in the Caribbeanis relatively easy and there are property laws in place that fully protect the rights of a foreign owner just like the locals.

Remember, although you are using international property as and investment, you also have the advantage of being able to touch, feel and use your investment.

Unlike a stock certificate, you can sit in your investment and offer it to family and friends to enjoy their holidays in as well!

It has been reported in the Times newspaper that 50% of those featured in their ‘Rich List’ Earned their money through property investment.

This proves that this style of investment, if managed properly, can offer you the financial security you are looking for.