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How can I sell my property in the Caribbean fast in 2020?
It’s easy to forget now that 2019 saw the Caribbean economy picking up like a dream. There were new constructions coming up almost everywhere and the tourism business had hit a peak.
And then the deadly Coronavirus hit the world, and the Caribbean, which depends almost entirely on the tourism business, was hit really, really badly. Business has been down by almost 90 percent. The economic devastation caused by the pandemic has been far more severe than the actual biological damage.
Which is why, Marla Dukharan, a leading economist in the Caribbean says the IMF and World Bank must consider the vulnerability of the region and called for a wide-ranging financial bailout.
“For example, the Cayman Islands has one of the highest GDPs per capita in the world, but based on recent reports by Moody’s, it is the most vulnerable to sea level rise, and climate change more broadly, in the world. This factor, and others which drive vulnerability, cannot be ignored when you are trying to determine if a country needs help, what kind of help they need, and to what extent,” Ms. Dukharan said.
“Regardless of the rate of contraction, which is really guesswork at this point, it is clear that we will need help, lots of it, and for a long. Regional cooperation is arguably more important now than ever before,” she adds.
Politicians agree. Antigua and Barbuda Prime Minister Gaston Browne says in an interview with the Miami Herald, “Up until now, there is no rescue plan for the Caribbean and we need a rescue plan. This is not a situation where we are trying to ask for assistance conveniently. It is an absolute necessity.”
Prime Minister Browne adds, “they are looking at our per capita income and saying we’re so wealthy, we’re not eligible for assistance when, one, we have no surplus and second, about 80 percent of our revenue could be wiped out. How the hell can we survive?”
The Prime Minister has called for a complete write off on all debt payments and grants made to the Caribbean by the IMF and other global financial institutions.
“Right now the region needs a Marshall plan,” PM Browne said. “I believe that after the next 60 to 90 days, [our] countries will become totally broke and would not be able to meet certain expenses, so there needs to be some level of international coordination and cooperation.”
St. Vincent and the Grenadines Prime Minister Ralph Gonsalves adds, “We are doing whatever we can. We’re looking to international partners, including institutions like the World Bank, IMF, the Caribbean Development Bank and some bilateral links,” he says.
So, how to sell property in the Caribbean fast in 2020?
Who is still buying properties in the Caribbean right now, in spite of the uncertainty caused by the Covid19 pandemic?
The biggest buyers of properties in the Caribbean remain wealthy Americans, Brits, Canadians, Germans, Scandinavians, Russians and Chinese and that is not going to change anytime soon.
Many Caribbean islands have been left relatively unaffected by the Coronavirus. Also, they are so sparsely populated that social distancing should not be a problem here. Which is good!
Further, even as Chinese buyers are getting shunned across the United States, Australia and much of Europe, most islands on the Caribbean are more than happy to have them. After all, money is in short supply in this environment of global uncertainty, and no incoming investment can be shunned.
Which is very news for those eager to sell property in the Caribbean fast in 2020. Any real estate in an overseas property hotspot such as the Caribbean will has a lot of value.
The trick is to find the right kind of buyer, someone who is cash rich, has serious money to burn and is looking to buy overseas properties to take advantage of the fall in residential property prices across the Caribbean.
For this, you must hire the services of an overseas property expert, as only they will have the right sort of contacts and relationships with such rich, sophisticated buyers from abroad. Contact us to know more on how to sell your house or apartment in the Caribbean fast in 2020.