President Obama’s reelection has led to a surge in interest in purchasing real estate in the Caribbean, specifically in the Cayman Islands and Roatan, an island off the coast of Honduras.
Based on figures from the CBO and the Joint Committee on Taxation, federal taxes will increase by a total of $423 billion in 2013 if the Bush-era tax cuts are allowed to expire. According to the Associated Press, the increase in taxes will be the largest since 1942.
In light of this, for those looking to secure their funds offshore and control their own spending, the newest development on Roatan, Crystal Sands Villas, may be the answer.
Amy Murphy, a realtor with Russ Lyon Sotheby’s International Realty in Scottsdale, Arizona, has experienced an influx of buyers seeking to purchase homes in the Caribbean – with a 70% surge in inquiries since the election.
As the owner of her own Caribbean property on the island of Roatan off the coast of Honduras, Amy has first-hand experience of this offshore buying trend.
Since the late 1990s, the value of her property has rocketed from $38,000 to $250,000, a growth trend which is tempting more buyers to invest before taxes rise.
Amy said: “In 2012, the Wall Street Journal, Kiplinger’s and International Living each designated the island of Roatan – along with the Cayman Islands – as among the top destinations for retirees in the world. Source: South Florida Caribbean News