Caribbean looks promising for property investment

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Whilst the global economy is crumbling, the Caribbean is picking up the pieces when it comes to property investment.

Industry experts believe that the holiday islands offer good value for money during a time of worldwide economic struggles.

Sarah Wood, Features Editor of Caribbean World Magazine suggested areas in the South and central region offer “dirt-cheap deals”.

Locations such as Bocas del Toro in Panama and the towns around Cartagena in Colombia are said to look particularly attractive for overseas investors.

Whilst Cartagena has been described as ‘very expensive’, it offers much to an investor in terms of location. Belize, on the other hand, is popular amongst the middle classes offering properties which are ‘ripe for investment.’

Investors are being urged to strike whilst the iron is hot. This cheap secondary market has emerged as a result of those overstretched finances, with people keen to make a market exit.

Buying properties overseas can be time consuming and expensive. Experts advise that many avenues need to be explored before making such a financial commitment.

"You will need to sort out your finances and insurance and explore overseas bank accounts, deciding how you will manage your money when abroad," said Kimberley Millhouse from Crown Relocation.

Of course, bank accounts, currency rates and the economic stability of the country will need to be considered before making a move.

Transfer Money to the Caribbean

If you are thinking about investing in the Caribbean, it is definitely a good idea to consider the logistics of transferring money abroad. Foreign currency exchange rates quoted by banks are usually worse than the exchange rates available through specialist currency dealers.

So if you are looking to send money to the Caribbean (which is inevitable if you are looking to make a property investment) be sure to compare the market before you buy your overseas currency.

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