Barbados and Grenada are among the top reasons why the global property seekers are opting for foreign property mortgages.
According to a UK based publication investors considering taking out a foreign property mortgages may be attracted to ‘romantic’ Caribbean locations such as Grenada and Barbados.
Property Frontiers a Global real estate Group have characterized these two islands as weighing heavily in the minds of prospective property investors.
Commenting recently, Christopher Chadd, project manager for the global real estate group, said that Brits have always been attracted to the Caribbean, although many people’s hopes of living in the region are cut short by the cost of property.
However, he explained that islands such as Grenada and Barbados offer all the romance of the region.
While highlighting that Grenada is rapidly becoming one of the premier Caribbean island destinations, but prices for property are probably a third of what they are elsewhere in the area,” he explained.
The UK reported said, “For those who are planning to take out a mortgage for foreign property in the area, Mr Chadd encouraged research into tourism growth trends to identify future capital growth hotspots.
Earlier in February, A Place in the Sun (UK-based property magazine) placed the Caribbean ninth in its top ten property destinations list for 2010.
Meanwhile other international commentators have continuously placed the Caribbean high on their list of destinations with wide appeal for global property investors.
With new developments being built continuously it is a major trend particularly on island’s such as Barbados, and it appears that the region will continue as a hotspot for investors.
