Buying Property in Caribbean

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Buying Property in the Caribbean

The Caribbean is a tropical sea, that covers 2,512,950 sq km, and is, in reality, an arm of the Atlantic Ocean, Central America. It is bordered on the north and to the east by the West Indies archipelago and by South America to the south, while the Central American isthmus lies to the west. The Caribbean is linked to the Gulf of Mexico by the Yucatán Channel; to the Atlantic by many straits, of which the Windward Channel and Mona Passage are the most important; it is connected to the Pacific Ocean by the Panama Canal.

Although the dominating cultural influence throughout the Caribbean is Hispanic, each island or group has it’s own specific culture. Long popular with US real estate investors, the Caribbean provides a secure platform for property investors who are looking for opportunities in property for sale, off-plan property, investment property, property for rent or holiday homes.

The wonderful climate is a further incentive for property investors: geologically, the Caribbean Sea consists of two main basins separated by a broad, submarine plateau. Cayman Trench, a trench between Cuba and Jamaica, contains the Caribbean's deepest point that is 7,535 m below sea level. The water of the Caribbean is clear and warm (24°C), and less salty than the Atlantic; the basin has a very low tidal range (circa 0.3 m).

The Caribbean Sea has a counter clockwise current; it water enters through the Lesser Antilles, is warmed, and exits via the Yucatán Channel, where it forms the Gulf Stream. The main goods and products traded in the area are petroleum, iron ore, bauxite, sugar, coffee, and bananas. Naturally, the region is dependent on its largest neighbour, the U.S., for tourism and trade with a significant proportion of European patronage as well. The Bahamas are the closest group to the US coast and are sometimes referred to as “the US Mediterranean”.

Cuba is the largest island in the Caribbean, but closed for investment purposes to non-Cubans. Mustique and St. Kitts have long been popular with the British aristocracy, while recently the prominent and highly successful property investor Donald Trump has undertaken an important project in the Caribbean.

Jamaican music has become extremely popular throughout the world and Jamaica has become a popular tourist destination partly as a result of this. Generally, government in the area is of a democratic nature, with the only exception being Cuba.

However, Cuba is an extremely poor country and appears to have no off-shore ambitions or impact, since it lacks the practical ability to implement them. Although considered the playground of the rich, the Caribbean affords a number of relatively inexpensive opportunities for property investment in places like the Dominican Republic, Haiti, Cayman Islands, Martinique, St Lucia and the Barbados.