International Property Success have reported a surge in interest for Self-Invested Personal Pension (SIPP) approved property in the Caribbean from disgruntled Brits unhappy with their pensions.
It’s not hard to see why the Caribbean is becoming a real draw not just for investors looking further afield for growth potential beyond European borders but also a relatively safe haven for their cash.
There are some fantastic deals available on Caribbean property which allow even those on average incomes to invest in property in prime locations on the Caribbean islands. It is even possible to use a SIPP to fund the entire purchase and benefit from guaranteed rental.
Devolopers of 5-star resorts on Islands such as St Vincent are reporting occupancy levels od between 80 and 90% this year with 40% occupancy already secured for 2012. This compares to this time last year where no advance bookings had been made.
This spectacular improvement is largely down to endorsements from sporting celebrities and the opening up of resort holiday agencies in the US. Buccament Bay on St Vincent has also just been awarded PADI 5-Star status by the Professional Association of Diving Instructors adding to its appeal for holiday makers.
The Caribbean has also been one of the world’s major recipients of FDI, alongside this the recently announced $45m airport terminal in Antigua will bring jobs growth and tourists in even greater numbers. To cater for the expected increase in tourism, the Caribbean is undergoing a period of major modernisation of infrastructure to cope with the developing needs of an economy that has boomed despite the slowdown being experienced in the US and Europe.
Jon Ainge Director of International Property Success comments “I believe Caribbean property offers investors an unprecedented opportunity to benefit not only from great mortgage deals, but also another place to invest hard earned cash sitting in a pension and earning very little. In the current climate the Caribbean offers far more than sun, sea and sand to those seeking to get away from it all – and that includes the gloom in Europe at the moment.”
