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Property Rights in Paradise

Property Rights in Paradise

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  • Read title – Define Paradise as the Tropical Atlantic and Caribbean – Hot Markets -vast – tropical – beautiful – it’s a mood
  • Explain the Territory – each country – each dot – has a different set of rules and different selling attibutes
  • What so special – what draws someone to buy – mention Hollywood Stars
  • Bahamas long white sands Abaco to the pink sands of Eleuthera
  • BVI
  • Dominican Republic
  • Grand Cayman
  • Sport fishing and Bone fishing
  • Bahamas – St Martin – Puerto Rico - Aruba
  • Give timeframes for downturn 2006-2007-2008 - More investor confidence to purchase in the CaribbeanResurgence – Revitalization
  • Over 700 Islands – As far North As Abaco and Grand Bahama close to Palm Beach Florida to as far South as Great Inagua close to Haiti Capital: New Providence/Nassau
  • You may see an occasional flamingo or two
  • New and Recent developments
  • Cover major type first then break it down
  • Nomenclature – what people could be called
  • Swinging at air/tropical breezes

Transcript

  • 1. Property Rights in Paradise SESSION TITLE Saturday, November 10, 2012 By George A Hayek CIPS TRC AHWD www.IslandAndResort.com South Florida | Bahamas | Caribbean
  • 2. www.IslandAndResort.comSouth Florida | Bahamas | Caribbean
  • 3. Lifestyle – Weather – Investment – Culture No Problem Mon! www.IslandAndResort.com South Florida | Bahamas | Caribbean
  • 4. Beaches www.IslandAndResort.comSouth Florida | Bahamas | Caribbean
  • 5. Boating www.IslandAndResort.comSouth Florida | Bahamas | Caribbean
  • 6. Golf www.IslandAndResort.comSouth Florida | Bahamas | Caribbean
  • 7. Diving www.IslandAndResort.comSouth Florida | Bahamas | Caribbean
  • 8. Fishing www.IslandAndResort.comSouth Florida | Bahamas | Caribbean
  • 9. Casinos www.IslandAndResort.comSouth Florida | Bahamas | Caribbean
  • 10.  The tropical 2nd home market was similar to real estate conditions in the US Developers with high hopes lost millions and just shut down Today we have a resurgence of new resort developments around the tropical Atlantic and Caribbean The Bahamas is a good example www.IslandAndResort.com South Florida | Bahamas | Caribbean
  • 11. www.IslandAndResort.comSouth Florida | Bahamas | Caribbean
  • 12.  Proximity to North and South America Stable Democracy Since 1729 Currency Pegged to the US$ Freehold Property Ownership Favorable Taxation Reliable Infrastructure Friendly Culture www.IslandAndResort.com South Florida | Bahamas | Caribbean
  • 13.  New Providence /Nassau / Paradise island ◦ Baha Mar, Bayroc, Ocean Place, Caves Heights, Palm Cay Abaco ◦ Pineapple Point, Schooner Bay, Bakers Bay Bimini ◦ Bimini Bay, Rockwell Island Eleuthera ◦ Cotton Bay, Cape Eleuthera, The Cove Exuma ◦ February Point, Blackpoint, Marina Residences at Sandals Others on Grand Bahama Island, Long Island, etc. www.IslandAndResort.com South Florida | Bahamas | Caribbean
  • 14.  Nassau, Bahamas Bimini, Bahamas Scrub Island, BVI St. Kitts Anguilla South Florida www.IslandAndResort.com South Florida | Bahamas | Caribbean
  • 15.  When buying Property you possibly receive citizenship, residency or even social services Variables by Country ◦ Ownership Type Fee Simple Rental Pool Fractional ◦ Residency Types ◦ Title Conveyance ◦ Purchase Processes Commissions, Taxes & Fees www.IslandAndResort.com South Florida | Bahamas | Caribbean
  • 16. Citizen or Resident or Tourist ◦ Bahamas Annual Resident ◦ BVI / Turks & Caicos Belongers ◦ Dominica Foreigner or Alien ◦ Dominican Republic Provisional Resident ◦ Grand Cayman Resident ◦ Jamaica Returning Residents ◦ Nevis / St Kitts Economic Citizen ◦ Sint Maarten (Dutch) Working Resident www.IslandAndResort.com South Florida | Bahamas | Caribbean
  • 17.  Realtor Associations ◦ Be Careful! ◦ Some Island Countries have Associations and Some Don’t. ◦ The Bahamas BREA is Aligned with NAR Palm Beach Association is the Ambassador Government Regulations Vary by Country Broker Relationships a Must Referral Agreements in Writing www.IslandAndResort.com South Florida | Bahamas | Caribbean
  • 18.  Warm Climate Developments are sprouting up around South Florida and the Tropics Too much to be an expert on all ◦ knowing where to find the correct information and who to speak with are keys to success Servicing the customer is the focus Refer to Broker with local knowledge Know the Country rules and Cultural idiosyncrasies www.IslandAndResort.com South Florida | Bahamas | Caribbean
  • 19. By George A Hayek CIPS TRC AHWD www.IslandAndResort.comSouth Florida | Bahamas | Caribbean