Luxury Real Estate

By Jim Walberg

We have just ended the first month of 2008 and my January 3rd Predications are being confirmed every day regarding the trends of Caribbean real-estate buyers! The deeded fractional ownership is having a dramatic impact on the buying patterns of Baby Boomers, Brits, Europeans and Canadians. Their appetite for full ownership of second and third homes/condos in the Caribbean is being refocused on the fractional-ownership resorts being developed by BIG international companies!

Buyers seeking Caribbean properties are recognizing that they are not going to live there full-time, so why have the responsibility of full ownership when there is an excellent resort management company in place to maintain and even rent a deeded fractional-ownership property as part of the purchase? An example of this trend can be witnessed in Aruba. There are more than 2,000 fractional-ownership units planned for this island by international developers cashing in on waves of buyers! (There are always exceptions to this thinking when the price point and the product are too good to pass up for full ownership, such as South Beach – Belize)

What does all this mean for the sellers and buyers of Caribbean real estate? If you are a seller, get your home on the market NOW with the most experienced international REALTOR® you can find who understands this market and has an effective Internet-based marketing strategy in place. As a buyer in 2008 for Caribbean real estate, you are going to have your pick of some great bargains, and ones that have huge upside appreciation that are available to those who know where the values are.

Some of the real-estate “hot spots” are St. Kitts, St. Vincent, Anguilla, Belize, Dominic, and the Dominican Republic. The outlook for buyers and sellers in the Virgin Islands and the Caribbean is “bullish” for 2008!

Deeded fractional ownerships will continue to gain market share away from the fully owned homes and townhomes/condos products. Those who have Euros, Pounds or Canadian dollars will have the best buying power for any real estate connected to the U.S. dollar. Again, be sure to find the best REALTOR® you can to represent you in all of your international real-estate transactions. A great resource for top-quality international REALTORS® is Luxury Real Estate!


Editor’s Note:
What an enthusiastic endorsement! To contact Jim Walberg, email Jim@JimWalberg.com or visit www.CaribbeanIslandsRealty.com. Fractional-ownership resorts have a lot of advantages as second homes and vacation spots. In fact, I recently wrote a four-page editorial on fractional-ownership resorts, which are also known as Private Residence Clubs, for LuxuryRealEstate.com Magazine. The story will be appearing in the Spring 2008 issue of the magazine. Click the following link to read the Winter 2008 issue of LuxuryRealEstate.com Magazine.