Where can I find the cheapest Caribbean real estate?
By Loisemarie Barros
4 min read
The Caribbean has tropical weather, with a mixture of different cultures. The natural beauty of it attracts millions of travelers to visit each year. Many of them consider moving to the Caribbean, either for long-term travel, work, or retirement. So, if you’re thinking of coming to the Caribbean to live or buy a property, here’s a guide on where to find the cheapest real estate in this region.
1. Dominican Republic
- the most visited destination in the Caribbean
- low cost of living with a stable government
- world-class beaches
Property Market Price
Ranges from $92,000 - $16,000,000.
Cost of Living
You can live in the Dominican Republic on a budget of $1,200 a month, including apartment rental. Monthly living costs will be lessened if you have a place of your own. You could buy an apartment as low as $100,000 even less. This makes the Dominican Republic one of the most attractive and cheapest Caribbean islands to live.
According to liveandinvestoverseas website, a website that provides information on living, retiring, and investing overseas.
2. Ambergris Caye, Belize
- is the only English-speaking country in Central America
- accommodating and well- established community for migrants
- one of the cheapest places to live in the Caribbean
Property Market Price
Ranges from $144,000 - $3,500,000.
Cost of Living
Compared to American standards, you could live quite comfortably with $2000 a month in Belize.
3. Corn Islands, Nicaragua
- two small islands about 50 miles off the Caribbean coast of Nicaragua
- perfect for migrants who like peaceful beach living
- plenty of water sports activities like scuba diving, snorkeling, fishing, etc.
Property Market Price
Ranges from $190,000 - $2,495,000.
Cost of Living
One of the biggest reasons why people move to this country is the cost of living. It is very low compared to other countries. A couple can live well in Nicaragua for 1,500 USD per month. Please see below the breakdown:
4. Honduras
- second-largest coral reef
- pristine beaches
- one of the most untouched countries in the world
Property Market Price
Ranges from $169,000 - $2,675,000.
Cost of Living
It is also one of the cheapest places to live in the Caribbean. So, how much do you need to live in Honduras? The monthly cost of living for a couple, including rent, is $2,000 to $2,500
5. Bocas Del Toro, Panama
- the majority of foreigners live in Bocas Town, located on the large island of Isla Colon
- a popular destination for water sports, fishing, and whale watching
- warm weather, white-sand beaches
Property Market Price
Ranges from $94,900 - $4,500,000.
Cost of Living
The cost of living here is lower than in the United States of Canada. You can live here as low as $1,400 a month, including home rental, which is as low as $550/month.
To find out more about an affordable vacation home in the Caribbean, please visit our website or contact us on live chat, or email us at team@partbnb.com.
Recommended
Popular Investment Opportunities in the Caribbean for Foreign Buyers
The Caribbean is a region comprising the Caribbean Sea and the islands and countries surrounding it.
Guide in Choosing the Perfect Airbnb Investment for you
The short-term rental market is gaining more popularity among tourists for the past decade and Airbnb is one of the most widely used short-term rental platforms right now and due to its flexibility and affordability
The Playbook on Rental Property Investing by Partbnb
As someone completely new to real estate and that has never owned a property before this playbook, we will educate you and give you information on rental property investing, long-term residential rentals or short-term vacation rentals.
Buying Property in the Bahamas
In this article, you will get full details of the things you will need to consider when planning to buy a property in the Bahamas as well as what you can expect when you live there.