Terri is writer who loves to inspire with words. She is also a facilitator of Ecopsychology workshops & wellness retreats and loves being immersed in nature! For more on her work visit www.onelovelivity.com
Thinking of moving to the Caribbean? You may want to consider the Dominican Republic which is becoming increasingly popular as a place for relocation or a second home. Many property pundits and investors are agreeing that it is a hot spot for buyers in the Caribbean.
There are excellent opportunities for investment in the Dominican Republic (DR). It is one of the most stable countries in the Caribbean and Latin America. The Dominican Republic also has very low labour and living costs that, together with the laws to promote Foreign Investment, have made it very attractive for those who are looking for high profitability and security. The relatively low cost of living in the Dominican Republic is also attracting retirees who are looking for a place to live comfortably on a finite income.
Tourism is growing at a phenomenal rate in DR and thus there are more infrastructure developments in the country, greater variety of activities and increased opportunities for renting property. Getting to DR is easy as it is serviced with a multitude of direct flights from all over the US and Europe. From Miami it takes only 2 hours to be in a completely different world!
As a writer I love learning new words and a few weeks ago I was told one so new that when I looked it up in the dictionary it did not appear. The word is ‘Condotel’
I was privy to learn this new word through a conversation with our International Property Adviser, Wini Dean, who was also gracious enough to explain what on earth it means! Apparently a condotel is a fusion of a condominium and a hotel and even though the concept has been around for about 20 years it is only now becoming popular as one of the latest trends in property developments. In a condotel an individual owns their condo within a building that is operated by a hotel group who provide a variety of services to the occupants. So even though you are in your own home you can enjoy some of the luxuries of staying in a 4-5 star hotel.
Condotels are mostly bought as a second vacation home and thus has the added benefit of being an income generating investment when you are not occupying it. By signing an agreement with the hotel operating group your condo becomes part of the rental pool when you are not around and can be let to other clients on a daily, weekly or monthly basis.
Continue reading "What is a Condotel?"
For anyone living in the UK or Europe, who has been sitting on the sidelines waiting to buy a Caribbean property, now may be the time to jump and make that property purchase in the Caribbean. Movements over the past month have seen the pound and euro fall around 5% in value against the US$Dollar, which is used for pricing most Caribbean properties.
It is difficult to predict whether this slide will continue, as the international money markets weigh the relative strengths of the US economy against the Eurozone. However, with little growth predicted through 2008 and 2009 and the threat of recession looming; there is a very real chance that the recent slide in the value of the pound and euro could continue to erode the value of these currencies possibly back to the levels sustained for many years through the 1990's, where the dollar stabilised at around US$1.55 to the pound.