Garie Beach

I am a US citizen considering moving to the Carribean. Which islands offers the best deals in real estate?

My husband and I currently live in the UK but will be leaving next year or 2010. Some islands such as Turks and Caicos offer affordable housing (our budget is around $600K) but they they have a stamp duty of 10%! We are trying to find a place to live that won't cost us an arm and a leg in government fees, etc. Any suggestions? We just want to live on the beach!

Public Comments

1. One thing all these little island nations have in common is their discriminatory fees/taxes/surcharges on foreign real estate investors. Before investing on any island I would strongly suggest renting for a while. Though living in a beach house on a tropical island is the stuff of dreams, it is not for everyone. Being on an Island you can figure on paying 2-3 times for just about everything and waiting 2-3 times longer to get anything fixed. You also have to figure in dealing with summer hurricanes and corrupt local government. I just read an article in the NYTimes http://www.nytimes.com/2008/07/02/greathomesanddestinations/02gh-sale.html?_r=1&scp=1&sq=jamaica%20real%20estate&st=cse&oref=slogin about buying property in Jamaica, could not believe all the fees and tariff's to buy in a country with a high murder rate. As an avid scuba diver living in Florida, I have been to most of the Caribbean nations and have not found one yet where I would want to live.
2. Just a comment, stamp duty is high so that foreigners do not create a market, where the locals cannot afford to buy property on their own island - I mean look at the locals in Wales who can no longer afford housing there. Your best bet is to check with Realtors on the islands that interest you most, bear in mind - cost of living, cultural differences, etc. Living on the beach has its disadvantages, the property will require high maintenance, in some Caribbean islands the beach will never been yours, it will be shared with the locals. To the previous answerer - not everyone wants to live in the US either. Good Luck