Americans Turn to Lesser Known Caribbean Islands for Vacation Homes
For many years, Americans have been buying vacation or retirement homes on well-know Caribbean islands such as St, Thomas, Barbados, and St. Croix. But the latest wave of building is taking place on islands that most people have never heard of—islands with names like Great Exuma, Roatan and Scrub—and is geared toward everyone from small-time investors looking for a bargain to wealthy executives seeking a tax haven, according to a Wall Street Journal article by June Fletcher.
The Wall Street Journal article reports that, “The development boom is part of a broader movement of Americans buying homes overseas in pursuit of a better climate, a cheaper cost of living, tax breaks or other incentives another country may offer. Some are simply looking for lower-cost waterfront housing without having to compromise certain standards. Although no reliable current statistics exist on how many Americans live abroad, or in the 7,000 islands in or bordering the Caribbean Sea, a growing scarcity of prime waterfront property on better-known islands is causing builders to turn to more isolated places.�
Our own experience in VacationRentals.org as well as a perusal of other vacation rental directories indicates that there are a number of fine vacation rentals that have been built in the “out islands� of the Caribbean as we have referred to them in a previous article. As long as investors in these properties do a good job of marketing and maintaining these properties, this will be beneficial both to vacations and investors.
