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Property Caribbean: Dead Man's Chest
As the film, Pirates of the Caribbean: Dead Man's Chest, hits the cinemas on 7th July, property developers in the Exumas are expecting interest in their developments to rapidly increase.
The reason for this rather strange phenomenon is because many of the scenes for the film were filmed on location in the Exumas, a string of coral bays in the Bahamas.
For those who fall in love with the white sandy beaches and azure blue seas, Black Pearl Ventures is marketing the chance to buy a piece of it at February Point on Great Exuma. According to Black Pearl Ventures, this residential resort not only provides an annual place to holiday but will also be a sound property investment. This claim seems to be backed up by an article published in The Wall Street Journal on 2nd March 2006 that points out "home prices have as much as quadrupled in the past two years on the lesser-known and more remote Caribbean islands".
Ownership of the three-bedroom, three-bath villas at February Point is available in three different forms: Full ownership costs $2.6 million, one-quarter fractional ownership costs $600,000 and one-eighth ownership is available for $325,000. The fractional ownership packages come with a lifetime guarantee of use, as well as free use of a 26-foot sport fishing boat and a golf cart. As an extra bonus, one of the great advantages to buying on Exuma are that there is no income tax, inheritance tax or capital gains tax on the island and British citizens do not need a visa.
Company director Guy Newman commented, "In addition to the enjoyment of owning your very own slice of paradise, investing in property in the Caribbean is particularly attractive at the moment due to the strength of the pound versus the dollar. We haven't experienced such a favourable environment for investment in the US since the early 1990s and this makes purchasing a property in the Bahamas extremely good value when buying in pounds sterling.
And if the prices for ready-built properties are out of you price range then there is also the option of buying land and building your own property on Great Exhuma. Whilst there are some seriously expensive properties and land prices on the market (Quarter-acre plots on Emerald Bay sell for around $995,000), ten kilometres outside of Emerald Bay more realistic prices are on offer through Land In Bahamas, such as quarter-acre plots from £14,500 on the Bahama Sound development and ocean-front plots are available from £23,000. The average price for building a two-bedroom two-bathroom house is US$150,000.
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Article first published on 11 July 2006


