The property market on the Caribbean island of Dominica is increasing in activity but many investors can find it a challenging environment to negotiate without the right support. Caribbean Land & Property, a licensed real estate company have increased their sales staff to assist buyers seeking property and facilitate an easier entry into this relatively undiscovered market.
Lisette Stevens, a property advisor for the company, says that “Negotiating the rugged terrain of Dominica can be a challenge without a good guide and determination.”
Dominica has a lot to offer in real estate and is a healthy market for buyers. Caribbean Land and Property have over 130 properties for sale which span the range of houses, apartments undeveloped land and commercial buildings. Dominica, not to be confused with the Dominican Republic, has for many years been known as the nature island of the Caribbean due to its pristine and rugged environment. Property investors seeking to buy in the island are encouraged to look into investing in renewable energy initiatives and benefitting from the islands growing eco-tourism industry.
Recent statistics show that increasing numbers of baby boomers are seeking to retire in the tropical environment of the Caribbean and Dominica provides a tranquil environment for post-retirement relaxation and adventure. Many Dominicans who left in the 1950’s and 60’s are also returning along with a growing ex-pat community. However Lisette also finds that “Dominica is attracting young people too; those who want to get back to nature and life self-sufficiently. Dominica’s lush natural environment, which retains much of its forest cover, has 365 rivers and very fertile soil is a world away from the rat-race of city life”.
A home in the Caribbean is the dream of many but the process can be tough in a foreign environment without knowledge of the local laws and regulations. The BBC website for buying property overseas advises potential buyers to, “Use qualified professionals to protect your interests and make the purchase of your new home a stress-free experience.” The personalized service of Caribbean Land and Property offers strategic and sound advice on all stages of the process including, obtaining a land holding license, transfer fees and building costs. They also can facilitate an investor’s application for economic citizenship. Whilst this is not necessary for buying property, it does entitle the person to a passport and full voting rights.
Dominica is situated in the Windward Island chain of the Lesser Antilles. The national language is English, as it is for most of these islands and traveling to other nearby islands for short breaks is relatively quick and easy by plane or ferry. The currency is the Eastern Caribbean Dollar which is used by eight of the nine members of the Organisation of Eastern Caribbean States (OECS). The exchange rate has been fixed to the United States dollar since 1976 at EC$2.7 = US$1. Dominica’s two neighbouring islands; Martinique and Guadeloupe are French, adding a splash of European culture to the mix.
Dominica has been a secret of the Caribbean for many years and offers a very different experience than many of the other islands. Now is an ideal time to buy in this emerging market as its potential unfolds. Caribbean Land and Property are pleased to offer a comprehensive and professional service for those who wish to make this special island their home.
