Quote:
Originally Posted by farkedup
My list was put together thinking that national average income would be a rough representation of cost of living so obviously Bermuda will be insanely expensive since there's tons of cash there. I think Cayman is catching up to bermuda quickly and probably british virgin islands being a nice mix with the bahamas and st kitts. I'm trying to stick with eastern islands and honestly the closer to the US the better.
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Got ya
Sure, it's inevitable when land/infrastructure rises, the cost of living always seems to have a knack of following on
And sure - agree Bermuda is a joke re what you get for your money.
To be honest, seen a lot of real estate in Bermuda and Caymen over the years and it really is absurdly overpriced. Got no doubts you can get double size on property elsewhere at half the price - at least *lol* Another aspect of this is - if you go in at that level, it's unlikely to deliver up a reasonable capital appreciation over a reasonable short term period (but sure going to be a safe investment).
About six or years ago was about to buy a place in BVI and was priced around $450K then. Recently noticed that same property was on the market again at.. think around $2.2 mill and sure would have been a good investment at $450K. But - at the same time there are, or were, other areas where the return was much higher - and dumped some money into them and they generally have shown an 18-19 fold increase in the same timespan.
Apart from knowing there is infractucture, it's prob a matter of looking eg five years ahead and gambling on what the potential may be at that time. More people are generally "on the move" and this is thrusting up real estate values. At the same time, there are still areas which are "pure paradise" (awesome places) and got little doubts these are next on the hit list - tho may not be good overall for the areas concerned since they will probably end up as more condo worlds.