The global economic downturn has seriously affected the world’s property markets. Many countries are reporting a sluggish turnover of property and decreased value on previously purchased real estate.

However, keen investors are finding that there are still some areas which are riding the storm and flourishing. Caribbean Land and Property have been monitoring the markets in the 26 Caribbean countries they serve and are now sharing what they feel are the top locations for purchasing property in 2009.

International Property advisor for Caribbean Land and Property, Wini Dean, states that “It is simply not true that everything is in decline, in fact I am as busy as ever with clients seeking property in the Caribbean region. Of course some areas are doing better than others and we feel obligated to let people know where they will get most value for their investments.”

One of the countries remaining popular with buyers is Belize. As it is the only English speaking country in Central America, there is an increased ease of conducting both personal and business affairs for expats and investors. Real estate is readily available as Belize is the least populated country in Central America and has one of the lowest population densities in the world. Belize is popular with those who enjoy pristine environments with rainforests and exotic wildlife. In addition the coastline of Belize is lined with tropical beaches which offer snorkeling and diving into the 2nd biggest coral reef in the world.

Retiring to Belize is made more appealing through government incentives for qualified retirees. These include tax-free income status and duty free concessions to import all household items, a car and even boat or a light aircraft. They have also recently reduced the stamp duty tax on real estate title transfers. The new rate is 0% up to US$10,000 in purchase price and 5% for any amount above US$10,000.

Another country in the region that continues to flourish is the Dominican Republic. As one of the most stable countries in the Caribbean and Latin America, the Dominican Republic has been able to attract overseas business with a favourable Foreign Investment policy. Property prices within the Dominican Republic remain very competitive when compared with other Caribbean locations and offer very good value for money, especially when coupled with the low cost of living.

The ease of travel to and from the Dominican Republic makes it ideal for anyone doing business or needing to stay in touch with family. There are 10 International airports in the country and many direct and regular flights to and from destinations in Europe and North, Central and South America. Santo Domingo is accessible by air from New York (3 hours), Miami (less than 2 hours) and San Juan (45 minutes). The Dominican Republic continues to be the Caribbean’s most popular tourism destinations and Caribbean Land and Property currently has over 100 properties including hotels, resorts and residential properties that are ideal for personal use or as a vacation rental.

Costa Rica is also on the list of recommendations of where to buy property in 2009. This country is well known for its ecotourism and peaceful environment. With many direct and quick flights from USA, it is an ideal location for US residents who wish to experience a piece of Caribbean paradise whilst retaining their connections to home. Costa Rica boasts of the longest standing democracy and highest literacy rate in Latin America. The country’s banking system is stable and the country is often referred to as the ‘Switzerland of Latin America’. A wide range of properties for residential or business ownership are available through Caribbean Land and Property who predict that this location will remain popular throughout 2009 and beyond.

The small island of Dominica is also recommended as an investment arena in 2009. The property market remains healthy and it is an alternative option for those seeking to live a more sustainable and simple lifestyle. Property advisor in Dominica, Lisette Stevens, explains that “Dominica is more rugged than many of the other Caribbean islands and appeals to those with either a sense of adventure or a desire for a quiet life.”

Whilst all of these Caribbean countries are popular with retirees, Wini Dean adds a word of caution to prospective buyers of working age. “It is important to realize that there are few job opportunities within these countries and anyone who wants to live there should be prepared to create their own avenues for employment. Setting up new business which brings new jobs for locals is also a way of giving back to a country that has embraced you.”

The close of 2008 saw a new beginning for an exciting project in the Dominican Republic, with the laying of the first stone at the prestigious Punta Perla Golf, Marina and Spa Resort.

On the 29th December, the President of the Dominican Republic Leonel Fernández and Prince Albert II of Monaco were joined by government ministers, officials and Punta Perla president Ricado Miranda for the initial ground breaking and stone laying ceremony at the site of this much-anticipated new resort.

The Punta Perla Resort will be focussed around the principle of luxurious living and is set to have something for everyone - with high hopes of bringing increased tourism and spending to the Dominican Republic economy. As President Fernández recognised at the launch ceremony, the timing of the start of the new project is heartening for the country,

“Dominicans will emerge victorious thanks to the climate of peace and the investment projects in the pipeline”.

This positive feeling exemplifies a hope for the future that the project represents for the people of the Dominican Republic which, given the difficult financial times of late, is most welcome.

As construction of the Punta Perla Golf, Marina and Spa Resort commenced, eyes were drawn to the project’s plans for the future - ambitious and exciting plans that include three signature golf courses, the construction of one of the largest inland marinas in the Caribbean, a luxury Beach Club with swimming pool carved into a coral base at the edge of the sea, an equestrian centre, championship polo club, tennis club, aqua park, casino and cinema and shopping complex. And with ‘green’ features that include the harvesting of rainwater and the recycling of grey water for irrigation, the resort is set to be an impressive project, that has already captured the hearts of many - including Prince Albert II who is said to be impressed by the resort as an example of environmentally-friendly tourism that will act as the blueprint for similar projects in the future.

The start of construction at Punta Perla comes at an exciting time for the Dominican Republic, with the last quarter of 2008 having seen a huge $10.4 billion investment in the tourism sector, and the Dominican Republic Tourism Ministry reporting the highest ever number of tourists visiting the country - at 4.3 million. This has lead to Minister Francisco Javier Garcia saying that,

“tourism is consolidating itself as the ‘locomotive’ of economic development in the Dominican Republic”, not only excellent news for residents, but also for those looking to invest in new projects such as the Punta Perla Resort.

Mark Andrew, Managing Director of Emerging Earth who are master agents for the development, agrees,

“With positive results having been reported in the Dominican Republic tourism market in 2008 and funding of the sector increasing further still in 2009, the numbers of people visiting the country to take full advantage of its tropical climate, rich culture and pristine sugar-coloured sands are on target to grow and grow. This is therefore an excellent time to invest to fully benefit from the projected increase in visitor numbers and the Punta Perla Resort with its great choice of properties and facilities that are second to none.”