The high demand for Caribbean real estate, both from tourists looking for vacation homes and from individuals seeking a second home or investment property, has remained on the upswing over the last few years.
There are many reasons why people from all over the world — particularly high-net-worth individuals — have continued to favor the Caribbean region as an investment destination.
First, its economies rely heavily on tourism, which contributes to the growth of the real estate market as values continue to rise and property in the area remains a lucrative asset. Projections indicate that by 2023, the Caribbean real estate market will reach a value of US$ 2.06 trillion, with residential properties dominating the sector.
In addition, many islands in the Caribbean region have their currencies pegged to the US dollar, providing a stable economic environment that attracts both local and foreign property investors. Likewise, the Caribbean real estate market has demonstrated resilience to global economic downturns. Despite occasional setbacks caused by natural disasters, economic fluctuations, and most recently the coronavirus pandemic, the region has remarkably recovered and rebounded quickly.
On top of these, some Caribbean countries also offer attractive tax incentives, favorable tax structures, tax breaks on rental income, and residency programs for qualifying property investors.
A platform for premium real estate and franchise opportunities
With its commitment to showcasing the most captivating properties in the region and providing clients anywhere in the world with exceptional service by qualified professionals, ERA Caribbean has relaunched its official website as a valuable platform for premium Caribbean real estate and for exploring new markets through lucrative franchise opportunities.
At present, ERA Caribbean Real Estate serves 22 island destinations from its offices in the Bahamas, Martinique, and Cayman Islands.
As one of the pioneering franchise owners under the ERA Caribbean umbrella, ERA Cayman Islands broker Jeanette Totten attests to the professional advantages of working with a global brand.
When Jeanette and her husband Robert first entered the real estate business, they set up a boutique real estate company, the Cayman Luxury Property Group, which became a trusted name in the Cayman real estate sector for many years.
Seeking opportunities for greater expansion and networking, they rebranded and joined the ERA family in 2019. Jeanette avers that it was certainly a move in the right direction. “We did not receive as many inquiries as CLPG as we do now as ERA Cayman Islands,” she shares.
Aside from its impressive history of success and brand recognition, members of the ERA Real Estate global network gain access to a wealth of resources, support, and a vast network of industry professionals all over the world.
“People want to deal with brands with a solid reputation and international presence,” Jeanette points out. “The advantage of ERA is that it has thousands of brokers and offices all over the world. It’s truly a brand that is respected and recognized.”
Strong online presence is a big plus
ERA Caribbean has a track record of consistently achieving sales figures totaling hundreds of millions of dollars each year, backed by a world-class team of franchise owners and agents who bring with them a wealth of professional experience and proven expertise in real estate.
Especially since the pandemic, when overseas buyers seeking a safe island sanctuary became more inclined to transact online and purchase property sight unseen, Jeanette has seen the increased value of creating a strong online presence for one’s business.
“We have found that internet users tend to inquire more about luxury properties when a reputable brand is behind your name,” she says. “From our experience, we know that users are more inclined to trust a global brand over a local ‘un-branded’ real estate company, even if the company is well-known on that Caribbean island.”
She also adds that ERA Caribbean leverages the latest technology and tools to streamline processes, making it easier for franchisees to provide top-notch service and stay ahead in a competitive market. “This is why we particularly want to encourage boutique real estate brokers struggling with online conversions to join the ERA family,” she concludes.
If you wish to explore the different destinations where ERA Caribbean operates, meet its team of dedicated brokers and agents, or make that bold leap and seize the opportunity to be part of the Caribbean’s dynamic and constantly evolving real estate market, check out www.eracaribbean.com.
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ERA Blogs are written in-house. It is a team effort and we all contribute our ideas and suggestions. ERA is a diverse Team of Real Estate Agents who each have specialties. We have Seven Mile Beach Real Estate Experts, Beachfront Real Estate Experts, Commercial Real Estate Experts and everything you could possibly need when looking for a Real Estate Team. The blog is summarized and submitted by ERA’s Web Team.