Caribbean Property News

Caribbean Below Market Value Property Investment

Columbus Cove Villas, Bahamas

Principal International are delighted to announce the commencement of construction in this exclusive residential enclave, boasting a fabulous location at Love Beach on the north west shore of New Providence Island. This development has already enjoyed success with the sales of the luxury suites and the remarkably rapid sale of all Phase I Beachfront Villas, which to meet demand has lead to the release of Phase II of the Beachfront Villas , significantly earlier than planned. Phase I is projected to complete August 2010, with Phase II scheduled to be underway imminently and be complete by December, 2010.

These stunning beachfront villas have no competition and will appeal to the lucrative rental market. As with the suites these superb town homes will appeal to the established corporate, business sector and the buoyant tourist market. For those that are looking to spend time in the stunning property the short term market may be attractive , where excellent daily rates can be achieved. Premium construction and stunning interior design in an unrivalled location should provide optimum occupancy and rental levels in the islands healthy rental market.

Two of Principal Internationals’ Directors have recently visited the site and report that they were ” extremely impressed with the build quality and finish of the suites and impressed further by the stunning location of these beachfront villas, which are truly a few metres from the beach, and boast stunning views, offering excellent potential for capital appreciation and rental income”

For further details vist: Columbus Cove Villas

Limited Availability - $90,000 Saving in Bacolet Bay, Grenada

Unexpectedly, just 5 units have become re-available on the ever popular Bacolet Bay development in Grenada. These 864 Sqft Hotel Cottages boast the limited ‘15% in now, 30% out on completion’ deal, which many investors deemed to be the best property deal of 2009! Whilst you are required to pay 15% deposit now, this 15% would be returned to you on Completion of the project (Q1 2011). The process is : -

• 15% Down as deposit (15% in)
• 85% due on Completion (70% loan to value mortgage + 15% developer loan)
• 3 years guaranteed rental of 10% - paid in advance on completion. (30% out, 15% of which is used to repay the developer loan and 15% is paid to the client to repay their original deposit!)

PLUS, your mortgage and maintenance fee is paid for the first 3 years. Investors are entitled to 28 days personal usage per year. Launch prices are applicable on these limited units - @ $460,000 they represent a $90,000 saving based on today’s value. For further details visit: Bacolet Bay Hotel Cottages

Recent Announcement of Chinese Investment To Boost New Providence in the Bahamas

Following the recent signing of a number of agreements between China and the Bahamas, the Bahamian Government have announced a multi million dollar investment in the island of New Providence in the Bahamas.

This includes the Airport Highway Project which will see the construction of a highway from the Sir Lynden Pindling Airport to the city centre.

Substantial investment is also being made to the development of the Cable Beach. This will focus on a superb resort property, which will see a transformation of the Cable Beach area.

“Tourism matters in The Bahamas. It is an essential part of our economy and the extent to which the Cable Beach strip can be developed will be of immense benefit to the people of The Bahamas. We place a very high priority on the development of that facility”, Prime Minister Ingraham said.

Principal International are pleased to market three projects within this are being the Allure Luxury Residences set on Cable Beach, and Columbus Cove and Sole West on the nearby love Beach just a short distance along the coast.

These projects will offer purchasers the opportunity to invest in this area that will offer excellent potential.

Bahamas: Just One Unit Remaining at Columbus Cove

Following the news last week, regarding the Penthouses on the excellent Columbus Cove development in The Bahamas, we wish to advise only one Penthouse remains at the launch price.

A Reminder of this superb Columbus Cove opportunity can be found here,

Columbus Cove, Bahamas - Strong Rental Yields & Appreciation

Columbus Cove, Bahamas - Strong Rental Yields & Appreciation

The Bahamas differs from the other Caribbean islands, benefiting not only from the traditional Caribbean tourist market, it also boasts a strong corporate rental sector. Home to over 200 banks and finance houses, the typical 2 year executive postings offer lucrative buy to let returns.

Principal International are pleased to exclusively offer just two penthouses at launch price on the Columbus Cove development, an excellent project for those looking to develop a balanced property portfolio of traditional buy to let and hotel investments, offering an immediate cash positive return and equity.

This exciting development is set in the prestigious and famous area of Love Beach located on the West coast of New Providence island, Bahamas, where property continues to appreciate, making this a great place for investors. Current valuations are coming in at approximately 10% - 15% higher than purchase price providing the investor with instant equity.

These penthouse apartments are well appointed and proportioned - 1,400 square feet with generous balconies of 150 square feet . Built to a high specification, exceeding the standard, they offer a host of luxury features and upgrades and are ready for occupancy immediately, once contracts and debenture are complete. These luxurious apartments boast stunning beach and ocean views and their excellent location allows direct access on to the white sand beach. Executive tenants from the business sector have been sourced providing positive cash flow from completion. Competitive finance is available, subject to status, at up to 80% loan to value with rates of 3.8% to 5.2%.

The Bahamas is a very stable democratic country with its parliamentary system based on British system. Its economy is steadied by the value of the Bahamian Dollar which is pegged to US dollar on a 1:1 ratio. The islands are still developing and there has been significant investment into private and commercial airports to boost the economy further. Investors in the Bahamas are also not subject to any local income, company, inheritance or capital gains tax

Availability is strictly limited to these two penthouse units in the launch phase priced at $529,000 and represent an excellent addition to a balanced property portfolio of traditional buy to let and hotel investments.

With phase two due to be released shortly and a high profile marketing campaign commencing mid September, Investors should act promptly to avoid disappointment.

For further details and information, please visit: Columbus Cove Bahamas

Cash investment back within 18 months, Bacolet Bay, Grenada

Principal International are delighted to offer to our clients an innovative new way to invest in this stunning beachside development on the island of Grenada.

Investors are required to put just 15% down at exchange with 30% being paid out at completion returning to the investor the initial cash input they have invested into the project.

How does this work?

• Client reserves with $5000
• Client within 30 days signs the contract and pays 15% minus $5000
• The developer makes an interest free loan to the client of 15%
• At completion on target for Q4 2010, the client receives 3 years 10% rental in advance equating to 30%
• Client is repaid initial 15% development & developer is repaid 15% loan
• The mortgage ( Up to 70% LTV STS ) is paid for the first 3 years by the developer
• No maintenance or management charges are payable by the investor for the first 3 years
• The client is entitled to 28 days personal use per year

This fantastic spa development is due for completion at the end of 2010 and will be managed by one of the worlds premier hotel operators

For further details or availability please visit: Bacolet Bay, Grenada.

Caribbean investment with 30% in 30% out offer

Principal International are delighted to offer to our investors the chance to take advantage of a brand new offer from one of our developers in Grenada, Caribbean.

The development of Bacolet Bay is now being offered with a 30% in / 30% out option for the next 10 units only.

Step1. Within 30 days of reservation a deposit of 30% of the purchase price is paid - 30% in.
Step2. On completion a mortgage of 70% of the purchase price is taken out.
Step3. On completion 3 years worth of the 10% Guaranteed Rental is paid in advance - 30% out.

In addition, during the first 3 years ALL mortgage payments and ALL maintenance payments are paid for you.

At the end of the 3 year guaranteed period, you then have the option to sign-up for the “mortgage paid for life” scheme or take the “50% share of the yields” option.

ALL WITH 4 WEEKS PERSONAL USE PER ANNUM

This is a limited time offer for the next 10 units only.

For further details on Bacolet Bay and to register your interest please click here or contact us on 0800 038 0000 or +44 1483 748629 and we will delighted to discus the details of this fantastic opportunity with you.

Latest Buccament Bay Construction Photos 2009

Principal International have just received the latest construction photos on the Buccament Bay Beach Resort in Saint Vincent and the Grenadines which can be viewed below.These show the ongoing construction of the Apartment blocks as this development progresses towards completion in 2010

Watch Video

Portugal Records the Worst Tourist Season

AHETA, the Algarve’s regional hotel and resorts association, has reported that the Algarve has seen a drop in hotel occupancy to the tune of 3% below 2007 figures. With a lack of visitors, especially from the UK, not meeting the expected bumper year figures, this summer has been one of the worst on record.

The AHETA President, Eliderico Viegas, said that the region’s tourism industry wasn’t expecting this decrease in tourist demand, adding that most hotel operators were forced to cut prices in August, but even so found themselves far below the typical August visitor numbers.

The Algarve’s many restaurants, bars and nightclubs have also been hit by the reduced number of tourists, with AHETA stating that the weak British pound and the lure of cheaper destinations such as Turkey, Egypt and the Caribbean enticed the UK holiday makers away.

UK holiday makers account for 37% of the Algarve’s summer trade.

With this news in mind, Principal International have expanded their offering of investment properties to include the areas of increasing tourist numbers, such as Turkey, Egypt and the Caribbean. Where greater returns can be seen in rental income and capital growth in the aforementioned countries.

So to take advantage of the current investment climate, contact Principal International to discuss the many options available to you.

Buy to Let in The Bahamas, Caribbean

If you are used to the Buy to Let model for investment property, then this gem in the Bahamas could well be for you. With executive banking tenants looking for high quality rental property - this suits perfectly. Find out more from: Beach Front Apartments in the Bahamas

Why The Bahamas?

In the warm Atlantic Ocean south east of the U.S. and to the north of Cuba. An Archipelago consisting of seven hundred islands covering an area of 100,000 square miles with a total population of 300,000 + the capital city being Nassau, located on New Providence island.

The modern political system follows closely that of the U.K, being a former colony from back in the days of piracy when Blue Beard harassed mainly Spanish shipping - rich pickings indeed! The modern economy thrives as a tax free business haven and a major international tourist destination. With wonderful blue waters, warmed the year round by the gulf stream, golden sandy beaches and shady pine forests, for some it is the ultimate paradise destination.

In recent times the Government has streamlined its bureaucracy, setting up the Bahamas Investment Authority, a scheme to help mentor and fast track relevant investment proposals from foreign investors. Since the inception of the 1994 International Persons Landholding Act, the real estate market has leapt back to life, making it the ideal place for holiday home or buy to let investment. With an annual gross rental yield of between 8% and 11.4% and a buoyant market, this is a very good medium term investment with a lower than average risk potential.

Why not see if the Beach Front Apartments in the Bahamas is for you?

Margarita (Caribbean) tourism up by 15%

When it comes to investment opportunities in the Caribbean, Margarita is something of an undiscovered jewel. Its huge potential arguably owes more to geography than simple economics. It is the largest of three islands in the state of Nueva Esparta, its smaller neighbours being Coche and Cubagua.

Margarita sits off the north east coast of Venezuela in the Caribbean Sea. With over 160 Km of coastline there are a plethora of unspoilt beaches for tourists to enjoy all year round. This is great news for investors looking to profit from high-end holiday rental.

The large Santiago Marino airport makes this particular piece of paradise extremely accessible; with regular flights from Europe, North America and beyond. Furthermore, ferries to the mainland and flights to-and-from Venezuela add to the convenience. This does not only assist with the practicalities of owning a property in Margarita but also allows continued expansion of the tourist industry.

The tourist industry is indeed expanding and this is reflected in the latest statistics. Tourism to the island increased by approximately 14% in 2007 and current figures suggest a further increase in excess of 15% for 2008. Overall, traveller entry between January and April has increased steadily by nearly 300,000 since 2004. All this strongly points towards the prospect of dependable tourist income for those investing in property on Margarita.

In short, with blue seas, sandy beaches and money to be made; Margarita is surely the very place every property investor is dreaming about.

Margarita: All Good Things Come in Threes

Margarita, situated off the Venezuelan coast in the Caribbean Sea, is about as idyllic a location as you could possibly wish for. It is now also highly accessible, with flights available from a plethora of European and North American cities. Both of these factors make Margarita a property investment prospect that is ripe for the picking.

Principal International were ahead of the game in realising the potential of Margarita and are now able to offer three unique, affordable investment opportunities for the discerning investor. Investors will benefit from Principal International’s foresight; saving them from extortionate ‘late-comer’ prices.

Coche Island Spa Villas provide both a slice of luxury and great return on investment; a winning combination. In fact, Principal International are so confident of this market that they are able to offer a ‘10 Years Rental Scheme’; guaranteeing 8% net return for the first two years. This offer is also available with the five star Margarita residences in Musipan, which start from just £55,000.

Investors have the opportunity to go even bigger with Principal
International’s four bedroom Piedra Negra Villas. The large size, combined with the proximity to the sea, the private pool and the terrace jacuzzi, mean sky is the limit on rental opportunities for this
property.

To add one of these unique and affordable investment opportunities to your portfolio please contact us on 0800 038 0000 (UK) or +44 1483 748629 (Overseas)

5* resort in Dominican Republic

Just announced a new 5 star development for sale in the fantastic Caribbean island of the Dominican Republic.

Popular with many British and American travellers, the rental opportunities here are huge, added to that prices are expected to be between 25- 50% below market price for off plan purchases and plots can be reserved with as little as £1000. Studio apartments start at £75,000 and luxury Thai and Bali style villas, some with private pools, are available from as little as £295,000.

Named Two Rivers, the unique design has been based upon a Polynesian theme and the resort itself will be managed by a world renowned spa and resort company which is expected to be announced in the coming months, prices are expected to rise sharply so investors are urged to act quickly as this offer will not be available for long.

As well as 100% funding being available, Principal International is offering a 2 year 10% rent guarantee and a 5 year room rate share option. A spokesperson for Principal International says that this is a fantastic opportunity to acquire a luxury Caribbean property with a minimal reservation fee and a much reduced off plan discount.

You can view further details of the Two Rivers development from the link.

Marquis Estate St Lucia - New website launched

Following on from the success of Buccament Bay, a new website has been lauched from Principal International with the current information regarding the new development in St. Lucia called The Marquis Estate. The new website: www.TheMarquisEstate.info has been loaded with all details on the new 5 star resort.Including details of:

• current pre-launch prices
• main features
• 100% funding details
• rental comparisons
• investment details of ‘Why St. Lucia’
• property details
• property images
• details of resort facilities
• site plan
• location map

Derick Ivimy says “We’ve been looking for a few months for a self financing buy to let investment at low prices. This project ticks all the boxes and has a great opportunity for some serious capital gains!”

Derick goes onto say “The developer, of successful resorts in St Vincent, Barbados and The Dominican Republic has just Pre-released their new 500 acre resort known as the Marquis Estate in St Lucia. The resort will include a marina, casino, sports academy and two golf courses. The official launch is 1st August when prices will start to rise.”

So for those investors looking for a development to invest in, in the Caribbean who wish to ‘get in the door first’ then this is your opportunity.

Caribbean investment property is becoming a favourite

A recent article published by the Independent suggested that buying property in the Caribbean was becoming a favourite with investors as more and more of us are looking further a field for investment property.

The Caribbean is becoming more expensive with Islands such as Barbados and Dominican Republic stealing the limelight and prices here rising steadily year on year. There is no doubt amongst the investment community that the luxury end of the market is what were looking for as this gives us the best returns as the population slowly becomes more wealthy.

However there is a jewel in the crown so to speak, the island of St Vincent, situated 100 miles west of Barbados, between St Lucia to the north and Grenada to the south. Its landscape depicts the ultimate in lush rainforest rolling mountains and golden sands. One major 5 star development is emerging which is proving to be a glorious investment.

The new major airport serving its developing tourism is due to open in 2011 to coincide with the launch of this fantastic luxury development of beachfront villas, 5 star apartments and waterfront cabanas. Added to this will be the ultimate in spa luxury provided by the hotel complex which it has been announced will be managed by the multinational group; Oasis Hotels.

Many of the properties have already been sold but the remaining ones are still offered with a low reservation deposit, 2 year rent guarantee and a room rate share option.

Prices in St Vincent are rising but not in comparison with neighbouring islands and there are still a few opportunities to buy at off-plan prices. The island is far less developed and it is anticipated that restrictions will be placed on future large scale developments so this really is a one off opportunity to buy here. The standard of living is still very cheap and much emphasis is put on local trade keeping the prices down.

Now is definitely the time to buy in St Vincent.

Barbados and the credit crunch

With the much talked about credit crunch continuing to dominate the news investors may wonder if buying property overseas is still the best option. There is no doubt that the days of 90% mortgages are behind us for now and some banks are indeed cutting back on lending for overseas purchases, but this doesn’t deter from the pure capital growth on your investment that we still are seeing in the Caribbean markets.

Barbados is one such country and has remained largely unaffected despite its currency being linked to the USA markets. Barbados is playing a leading role in the Caribbean and is proving to be a valuable investment going forward. Second home ownership here is proving more and more popular especially among the rich and famous. Indeed there are plans afoot by the local government to further increase foreign ownership to help boost the economy and tourism of the country whilst maintaining the beauty and landscaping of its coastline.

Capital growth of property in Barbados has consistently risen over the last 10 years making it one of the few locations in the World where any financial crises seems to bypass it.

Local demand for rental property is often higher than the UK and Europe as there is not the competitive buy to let landlord markets seen elsewhere. Buying property in Barbados to rent seems to be a captive market and because of the restrictions on future building land is at a premium and therefore the opportunities are limited. This in itself makes for a unique market and one which is thriving for those wishing to invest here.

Once the credit crunch becomes old news and the banks start competing for business again, lending will return to competitive rates and the borrowing markets will dominate once more.

New Completion Dates in the Caribbean

Further to the news release last week regarding the announcement of the hotel operator for Buccament Bay in St. Vincent and Two Rivers in the Dominican Republic, we have just received the below further information from the Developer.

Simon Ryeland, Managing Director of Principal International, comments,

“We understand the frustrations with the delay in progress of this resort but investors can rest assured that this is still one of the best investment opportunities in the Caribbean, particularly in consideration that there is now a greater need for a new 5 star hotel than two years ago.

Having given the matter some thought, we felt it was most appropriate to simply ‘cut and paste’ the content of their notification to us, so that you can see precisely what they have communicated to their agent network.

Whilst, as investors ourselves, we can understand clients possibly being disappointed about the delays that will be experienced in completing these projects, we always recognised it would be inevitable that the appointed hotel operator would want to have an immediate close look at the projects and have some form of input into the building project timing and handover dates. For all of us as investors, it is vital that the launch of each development is as successful as possible, as it will set the scene for the reputation that resort earns and therefore the level of occupancy it enjoys over the medium to long term; as we all know, increased occupancy equates to increased investment yield.

For those clients who have purchased property in these projects, there will be some increased interest costs from stage payments and also, if applicable, from the use of the 100% finance option; however, the delay in completion will have the benefit of allowing the capital value of your property to appreciate further. This appreciation will, in turn allow you to, if you so choose, release more equity from the 70% Loan to Value mortgage you take at completion.

Please feel free to call either myself or one of my team (on 0800 038 0000 / +44 1483 748629 / contact) if you want to discuss these projects or any other investment projects in more detail.”

As and when we receive any further news about the Caribbean developments, we will of course keep you fully posted.

Buccament Bay / Two Rivers Hotel Operator Announced

Principal International are very pleased to be able to confirm that the developer has now signed contracts with the Spanish Group Globalia, who own the Oasis Hotels & Resorts brand (www.oasishotels.com), for both the Buccament Bay and Two Rivers projects in St. Vincent and the Dominican Republic respectively.

In their most recent published accounts, Globalia achieved a turnover of circa 3.5 billion Euros and, as an overall group, have all of the fundamental elements in place to be able to secure the occupancy levels and returns that the investors in the projects are anticipating. As a group, Globalia owns : -

• 1,200 office Travel Agent brand (Travel Plan) across Europe
• A significant Travel Agency brand in the USA
• A major European based airline - Air Europa
• Air Dominican - the airline of the Dominican Republic

Globalia is ideally placed to not just sell sufficient holidays to deliver the occupancy levels across both developments, but also to effect the logistics of getting guests to the various resorts.

Each of the resorts will retain its own brand image, so Buccament Bay will remain “Buccament Bay” and will build on the widespread awareness that already exists for these developments.

Price Rise

We understand from that, with effect from the 1st of May 2008, there will be a 20% price rise across both the Buccament Bay and Two Rivers resorts and a similar increase will be applied to the other resorts once the contracts have been signed over the coming months. These price rises will be in addition to the planned price rises in July and October.

Should you have any queries, please feel free to call either myself or one of the team to 0800 038 0000 (UK) or +44 1483 748629 (Overseas).

Unique Property Investment Bond Offered by Principal International

Principal International are delighted to be able to offer to the UK investment market an excellent new investment property product with guaranteed returns over a short, fixed term. Through one of our trusted, specialist investment developers we are able to provide property investors with the opportunity to achieve a guaranteed return of 12.5% return each year for a two year fixed contract term.

Simply invest a minimum of £50,000 for a fixed twenty four month period and receive £62,500 back – guaranteed! Derick Ivimy, director of Principal International, comments: “This is an excellent way to invest in property over the short term and know that you are going to achieve a truly excellent rate of return. This product turns the usual property investment wisdom on its head. No longer does property investment have to be medium to long term to ensure good results.” He continues: “With returns this high and guaranteed it pays to borrow just to invest.”

Although the minimum investment sum in to this scheme is £50,000 there is no maximum investment figure. You will enter into a UK based contract which guarantees to return your investment sum plus twenty five percent on the second anniversary of contract date. There is no limit to the amount of contracts you sign so that you can spread your investments over a period of months to get returns back over a staggered period to ensure that you have more flexibility and are therefore not tying your total lump sum investment in at the same time over the same period.

It also allows you to invest on a continued basis as and when other investment products you may hold reach maturity. Subject to the terms and conditions of your Self Invested Pension Plan provider you should also be able to use funds from your Self Invested Pension Plan to invest in this excellent new product. Principal International offer a full range of innovative property investment products through the same UK based developer.

For more information contact Principal International on 0800 038 0000

Caribbean luxury for serious investors, Dominican Republic

The Dominican Republic is one of the few places in the Caribbean where investors can buy affordable luxury property with a guaranteed rental income, a low initial reservation fee, guaranteed 100% funding subject to status, and 30 days free use within a luxury 5 star resort.

Principal International, one of the UK’s leading overseas property experts is able to offer the affordable right through to the ultimate. Two Rivers Beach Resort and Spa on the Amber Coast of the Dominican Republic is tucked away amidst lush vegetation in a secluded bay overlooking the clear blue waters of the Caribbean. For those investors with more money to spend, the Island Sanctuary offers the ultimate in 5 star luxury villas hidden away in their own secluded grounds, designed and built to the highest specification.

The Dominican Republic has a rich history founded by early European settlers to the Americas; as a result the Island has become a favoured tourist destination. There is an ever increasing number of visitors every year from around the globe, attracted by its three mountain ranges, palm tree lined beaches, spectacular rivers, stunning waterfalls and exotic wildlife.

Simon Ryeland, director of Principal International says “we are very excited about the opportunities in the Dominican Republic, the properties prices here are very reasonable compared to other parts of the Caribbean and our investors are keen to buy off plan to obtain the discounts the developer is offering. The numbers of visitors to the Dominican Republic are rising year on year and there is no doubt that this unique resort opportunity will provide a profitable investment.”

With property prices on the Island rising by at least 30 % over the last 5 years, buying off plan and sooner rather than later is where the profit can be made. The Island covers approximately 48,000 square kilometres and with much of its allowable beachfront resort locations already developed, land will eventually only become available at a premium and opportunities may become limited.