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
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.
Caribbean heads of government recently met in a two-day regional Agricultural Investment Forum to discuss the rising cost of food and the crisis it presents the region. James Moss-Solomon, a Jamaican businessman who headed the planning task force for the forum said “there has been no other time in recent Caribbean memory when such a concerted effort has been made to grow more food.” As the region pours more resources into growing more food the future looks bright for agricultural investments in the fertile land of the Caribbean.
In fact the overall global trend in the price for agricultural land has shown a sharp and continuing increase. For example, in 2007, the price for farmland in Iowa, USA was, for the first time, rising faster than property in Manhattan! This shift in the cost of land is occurring from Argentina to Australia and is signaling an increase in rural rather than urban development.