Caribbean 'good for property investment'

The current state of the worldwide economy means making an international money transfer and investing in property in the Caribbean could see individuals make a profitable purchase.

This is according to features editor of Caribbean World Magazine Sarah Woods, who explained how most islands in the region offer homes at "good value right now".

She suggested looking in the south and central areas for "dirt-cheap deals", such as Bocas del Toro in Panama and the towns around Cartagena in Colombia.

However, investors were warned that Cartagena itself is "very expensive", while Belize is a good location when it comes to value for money. 

According to Ms Woods, areas that appear to be proving popular with the middle class are worth considering, as these are often "ripe for investment".

It was claimed this is as a result of the secondary market being "keenly priced due to people being over-stretched and ready to exit the market".

Senior move manager at Crown Relocations Kimberley Millhouse recently advised those thinking of purchasing an overseas property and relocating to ensure their funds and all paperwork is in place before making a move.

"You will need to sort out your finances and insurance and explore overseas bank accounts, deciding how you will manage your money when abroad," she stated.

Taking such steps can help to avoid any "last minute" hitches ahead of the emigration, Ms Millhouse explained.

Meanwhile, editor at A Place in the Sun magazine Liz Rowlinson remarked how it is important people monitor currency exchange fluctuations when buying homes overseas.

The expert recommended seeking advice from a currency broker, as they will be able to help investors forward buy cash at favourable rates, which should help individuals to save themselves "lots of money".

Posted by Thomas Smith

Click here to make an International Money Transfer to Panama.