US property investors turn to Caribbean and Latin America
A growing number of people in the US are investing their money in Caribbean and Latin American property, it has been reported.
David Michonski of real estate agents Coldwell Banker Hunt Kennedy in New York City, and the association's liaison for international operations, told the LA Times that he believes there will be a "mega-trend" in US buyers investing in overseas property in the near future.
Speaking to the news provider, publisher and editor of GlobalPropertyGuide.com Matthew Montagu-Pollock offered investors advice when buying in a foreign country: "It's important for a residential investor to be able to see what his likely return on investment will be, what his taxes will be, to be able quickly to check whether the laws are landlord-friendly, to survey the inheritance laws."
According to yourplaceabroad.com, one spot in the Caribbean which may appeal to buyers is Margarita Island.
Investors buying Margarita Island property will have to pay a "minimal" purchase tax of about £200, according to the website.
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