American Millionaires Find St Martin Caribbean Real Estate Appealing: An Overview

Already a popular vacation destination, Saint Martin is fast developing as a highly profitable real estate market for the upscale property buyers overseas. More and more millionaires and business tycoons from North and Latin America and Europe are interested in the Caribbean real estate market. And most of them find Saint Martin as a prestigious location to own a property. Exemption of annual property taxes has made St Martin real estate market more appealing in the eyes of the foreign buyers.

Villas, condos, houses or cottages – options are aplenty when it comes to buying or renting a property in St Martin. Buyers from abroad often purchase villas on the beachfront and other prime locations on the island and appoint a reliable rental service agency to take care of the property in their absence. These rental service providers place the property to a renting program for tourists and vacationers. Thus the concepts like vacation rental and timeshares are rapidly growing popular in this part of the world.

The most interesting thing about Caribbean vacation rentals is that most of properties come with a host of amenities beyond your expectations. Splurge villas have designer interior featuring beautifully furnished rooms with large glass doors and windows to ensure splendid ocean views from the rooms. Fully equipped bathrooms and kitchens, dining, living, private pool are some of the common features. Private tennis court, golf ground and private beach areas in Caribbean villa rentals offer the taste of an extravagant lifestyle.

There are a number of reliable real estate agents in St Martin. Whether you want to buy or rent a property contacting through agents prove convenient. They have their own property listings with elaborate details of each and every property. Going through their websites makes your property search easier and faster. Their highly professional service makes your property buying or renting a hassle free experience.

However, there are some rules and regulations for buying properties in St Maarten/St Martin. Interested buyers should know the terms and conditions for purchasing a land or a property. But law is flexible and influenced by European property buying laws and system. Foreigners are allowed to buy property in the island but they need to produce a residency permit at the time of purchase. It can be non-working permit or working residence proof or visiting vacation permit applicable for 90 days. Buyers have to pay Notary fees, transfer tax and property registration tax.