5 profitable real estate projects in the Caribbean in 2022
Residences at Secret Bay — a villa in a hotel in Dominica — is recognized as the most expensive housing on the island, according to the Wall Street Journal. The hotel is annually included in the lists of the best vacation destinations in the Caribbean. For example, in 2021, Secret Bay was ranked sixth in the Caribbean Resorts by Condé Nast Traveler.
The project is also in demand among investors who receive Dominica citizenship. We will tell you what attracts investors to the Secret Bay hotel and what other promising projects are in the Caribbean.
5 profitable real estate projects in the Caribbean in 2022
Investors buy property in the Caribbean to participate in citizenship investment programs, as well as to receive rental income, live or vacation on the islands at any time.
The yield of the Caribbean real estate is comparable to European and ranges from 2 to 5% per annum. At the same time, the management company is usually engaged in the maintenance and leasing of objects, so investors do not have to find tenants themselves and monitor the condition of the property.
Dominica: share and villas at Secret Bay Five-Star Hotel Cost — from $208,000 Profitability — 3%
The hotel is located 50 meters from the Atlantic Ocean. For guests on its territory there are three secluded beaches, a spa-salon, an open-air restaurant, a swimming pool, a fitness center, a kids club, an art gallery and even a mini brewery. And among the tropical jungle, hiking trails are laid for walking and a sea cave is open for excursions.
Secret Bay is the only resort in Dominica to be Green Globe certified. It confirms respect for nature and the use of environmentally friendly materials.
Investors buy shares for an amount of $208,000 or objects in full ownership. The cost of the villa is from 1.5 to 3.8 million dollars. When the construction of the resort is completed, investors will begin to receive an income of 3% per annum.
In the summer of 2021, a foreign investor bought a country residence for $7.1 million. It was the most expensive property purchase in Dominica. In the spring of 2022, the owners of Secret Bay put up a new $10.3 million villa for sale. When the villa is sold, it will be a new record for real estate transactions on the island.
Grenada: share or apartment on campus Cost — from $220,000 Profitability — up to 5%
A modern university complex will appear in Hartman Bay. St. George’s University is 2 km away and is considered one of the best universities in the Caribbean.
The campus will include a campus for students, a hotel, shopping, sports and entertainment centers. The construction of the first facility will be completed in 2022, the entire complex is planned to be built in 10 years.
Investors are invited to buy an apartment of 60 m² in shared or full ownership. The developer also provides property management services: selling, leasing and maintaining premises.
Saint Kitts and Nevis: condominiums in a hotel complex Cost — from $400,000 Profitability — up to 3%
The complex is located on the island of St. Kitts and has been welcoming guests since 1983. The hotel has several swimming pools and a private beach. Rooms offer scenic views of the Caribbean Sea, mountains, lake or garden.
Investors can purchase hotel apartments and commercial real estate in shared and full ownership. This project involves the renovation of condominiums and the infrastructure of the complex.
Saint Lucia: apartments in a hotel complex Cost — from $318,000 Profitability — 2‑5% per annum
The complex is located in the resort of Vieux Fort. It is the second-largest city in Saint Lucia and the administrative center of the district of the same name. On the territory of Vieux Fort there is an international airport, a seaport and the largest fishing fleet in the country.
An area equal to three residential areas was allocated for the construction of a new resort. The facility is scheduled to be commissioned at the end of 2022. In addition to hotels, important tourist facilities for Saint Lucia will be built in the resort:
cruise ship terminal with home ports;
marinas and moorings for yachts of various sizes;
hippodrome and stables;
school of tourism and hospitality;
business centers with a free trade zone;
shopping and entertainment centers.
Investors can buy apartments, duplexes or commercial premises for retail. Retail space, offices, restaurants and cafés, fitness and spa centers will be opened on the territory of the complex.
The new resort is located in the south of the island of St. Lucia, 100 meters from the coast of the Atlantic Ocean
Antigua and Barbuda: hotel apartments by the sea Cost — from $200,000 Profitability — up to 4%
The project is a boutique hotel where investors can buy apartments in fractional ownership. The construction of the hotel began in the first quarter of 2021. The planned commissioning date is the end of 2022.
The hotel will have 40 rooms, a bar and lounge area, an à la carte restaurant, a spa and a communal pool.
What will an investor get by buying property in the Caribbean
Caribbean citizenship for the whole family. Five Caribbean countries offer foreigners to obtain citizenship by investment. To obtain a passport, an investor invests in the economy: makes a non-refundable contribution, invests in a business, buys real estate or securities.
Free travel to over 140 countries. Passports of the Caribbean countries make it possible to visit the Schengen countries, Great Britain, Singapore. And with a Grenada or Dominica passport, you can go to China for 30 days.
The opportunity to teach children in the best British universities. All five countries are members of the Commonwealth of Nations, so their citizens can study at British universities on preferential terms.
US tourist visa for 10 years. Citizens of Saint Kitts and Nevis, Grenada, Antigua and Barbuda, Dominica and Saint Lucia receive US tourist visas for 10 years under a simplified procedure.
Citizenship of Grenada also allows the investor to obtain an E‑2 business visa in the United States. This is a non-immigrant visa, but it allows you to freely enter the states, study and conduct business.
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