Industry News - June 2008 | Brookes and Company

Bahamas Tax and Financial

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June 2008

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House prices continue on downward spiral
Uncategorized News - 30/06/2008 @ 23:59
House prices are 6.3 per cent lower now than they were just 12 months ago, a new survey has revealed. The latest Nationwide House Price Index shows that house prices are still on the slide, although at a slower rate of . . .

Wedding bells highlight appeal of Bahamas as . . .
Uncategorized News - 30/06/2008 @ 23:59
Reports that golfer Greg Norman married former tennis star Chris Evert on Paradise Island in the Bahamas recently is further evidence of the attraction of the Caribbean as a location for overseas luxury property investme . . .

New insurance chief for Island Heritage could . . .
Uncategorized News - 29/06/2008 @ 23:59
Paul Inniss has been made chiefoperating officer of Island Heritage in a move that could shake up the Caribbean property market to the advantage of investors. Experienced chartered insurance professional Paul Inniss wil . . .

BSE to reinvigorate local business and stimul . . .
Uncategorized News - 29/06/2008 @ 23:59
The Barbados Stock Exchange (BSE) will reinvigorate the Caribbean economy and property market by introducing an Over The Counter (OTC) market. The plan will allow smaller companies to trade securities without having to . . .

UK housing slump continues as buyers look to . . .
Uncategorized News - 29/06/2008 @ 23:59
According to research company Hometrack the UK housing slump continued in June with experts advising buyers to look to overseas property investments. Prices were down 3.2 per cent on last year and properties are also ta . . .

Three in four expect UK house prices to fall . . .
Uncategorized News - 26/06/2008 @ 23:59
The latest quarterly price tracker survey by the Building Societies Association (BSA) shows that almost three in four (74 per cent) people believe UK house prices will fall over the next 12 months. This will be of parti . . .

St Kitts is a 'fresh opportunity' for luxury . . .
Uncategorized News - 26/06/2008 @ 23:59
St Kitts and Nevis' minister of tourism, sports and culture has emphasised the importance of attracting luxury travellers and investors to the country. Senator Richard Skerritt was a major driving force behind St Kitts' . . .

Caribbean to experience Carifesta tourism bou . . .
Uncategorized News - 26/06/2008 @ 23:59
More people will visit Guayana during the Caribbean Festival of Arts (Carifesta) than they did during the Cricket World Cup in 2007, it has been claimed. According to head of state Bharrat Jagdeo, Carifesta, which is be . . .

Overseas investment property drive discussed . . .
Uncategorized News - 25/06/2008 @ 23:59
Leaders from the Caribbean Community (Caricom) have held a series of meetings in New York promoting Caribbean property and business for foreign investors. The aim is to create a two-way relationship where US investors w . . .

Caribbean Hotel Association appoints new pres . . .
Uncategorized News - 25/06/2008 @ 23:59
Enrique De Marchena Kaluche has been appointed president of the Caribbean Hotel Association (CHA), in a move that will boost tourism and Caribbean property. Mr De Marchena, from the Dominican Republic, will occupy the r . . .

Caribbean property alternative to slumping UK . . .
Uncategorized News - 25/06/2008 @ 23:59
A specialist housing investment firm has warned of continuing instability in the UK housing market, which will convince many to look for overseas investment property. Invista's Assets Under Management (AUM) has dropped . . .

Caribbean property in economic boost as USVI . . .
Uncategorized News - 24/06/2008 @ 23:59
Confirmation of a major new rum distillery to be developed in the US Virgin Islands signals a renewed economic boost that will affect Caribbean property. John DeJongh, governor of St Croix, announced a partnership with . . .

Britons opt for overseas investment property . . .
Uncategorized News - 24/06/2008 @ 23:59
According to financedaily.co.uk, the Caribbean islands of Margarita and Montenegro have been singled out by David Redfern Stanley, specialists in overseas property investment. With UK house prices falling dramatically a . . .

Caribbean resorts draw families and stimulate . . .
Uncategorized News - 24/06/2008 @ 23:59
Caribbean resorts offer good deals for families that boost tourism and stimulate the Caribbean property market. According to the National Stepfamily Resource Center, over 40 per cent of US weddings mark second or third . . .

Tourism summit produces optimism for Caribbea . . .
Uncategorized News - 23/06/2008 @ 23:59
The First Annual Caribbean Tourism Summit (ACTS) has announced a positive outlook on the economic future of the region and for overseas property investment. Held at the Ronald Reagan Building & International Trade C . . .

Caribbean investment property an alternative . . .
Uncategorized News - 23/06/2008 @ 23:59
Many UK buyers may choose to invest in Caribbean property as the UK housing market has revealed a 20 per cent drop in mortgage lending in just four weeks. The new figures, released by the British Bankers Association (BB . . .

Caribbean property to be promoted in Bahamas . . .
Uncategorized News - 23/06/2008 @ 23:59
The Bahamas will seek to promote Caribbean property when it hosts this year's Beyond Excellence Conference, run by ERA Real Estate. The conference will be held at the Atlantis Paradise Island Resort in Nassau from 20th . . .

Rise in tourism to Dominican Republic to impa . . .
Uncategorized News - 22/06/2008 @ 23:59
Tourist visits to the Dominican Republic have increased by eight per cent this year, a boost for Caribbean property in the region. The country's tourism minister announced that 1.6 million people visited the country up . . .

Fall in UK home sales shines light on oversea . . .
Uncategorized News - 22/06/2008 @ 23:59
More Britons may opt for overseas investment property as new figures show a further drop in UK home sales. According to HM Revenue and Customs (HMRC) property sales have dropped by nearly a third when compared with the . . .

Nicaragua offering sought-after Caribbean inv . . .
Uncategorized News - 22/06/2008 @ 23:59
Nicaragua is being touted as one of the best-kept property secrets, with rich investment opportunities offered on its Caribbean coastline. Prices remain extremely competitive, with some housing less than half that of ne . . .

Caribbean property investment appealing as UK . . .
Uncategorized News - 19/06/2008 @ 23:59
The availability of new mortgage deals in the UK will not get better any time soon, making overseas investment property more appealing. According to the Council of Mortgage Lenders (CML), approved gross mortgage deals w . . .

Successful start in Fairmont Anguilla Founder . . .
Uncategorized News - 19/06/2008 @ 23:59
Caribbean property sales of $70 million have been made at the Fairmont Anguilla Founders Launch in British West Indies. The Launch was among the most successful of the past 18 months and proves that the Caribbean is a v . . .

Modernised BVI airport to boost overseas inve . . .
Uncategorized News - 19/06/2008 @ 23:59
Modernisation plans to the airport on Gorda in the British Virgin Islands (BVI) will boost the value of overseas investment property. Halcrow Group Ltd, based in the UK with William Millington as managing director, has . . .

Predicted fall in UK housing market invites i . . .
Uncategorized News - 18/06/2008 @ 23:59
Halifax parent company HBOS has predicted a nine per cent fall in UK house prices this year, making the prospect of investment in Caribbean property more appealing. The body has also predicted a 45 per cent drop in tran . . .

Moving to overseas investment property could . . .
Uncategorized News - 18/06/2008 @ 23:59
According to one expert, moving to an overseas investment property could be one of the best ways to avoid the British economic downturn. With rapidly escalating living costs in the UK and a tumultuous housing market, a . . .

Caribbean property could be boosted by top te . . .
Uncategorized News - 18/06/2008 @ 23:59
There has never been a better time to invest in a Caribbean property as the Andromeda Botanical Gardens in St Joseph, Barbados, has been ranked within the world's top ten by Travel + Leisure magazine. Gardens provide a . . .

Bad news for Britain's buy-to-let sector
Uncategorized News - 17/06/2008 @ 23:59
Britain's buy-to-let landlords could be in for significant legacy tax bills if they decide to sell up and realise some capital. Her Majesty's Revenue and Customs (HMRC) is turning its attention to undeclared rental inco . . .

Caribbean property investors 'shouldn't be to . . .
Uncategorized News - 17/06/2008 @ 23:59
While the credit crunch may be affecting countries across the world, Caribbean property investors should not be too concerned about the effect it will have on the region, it has been claimed. Andrew Mallalieu, managing . . .

Sir Allen Stanford invests in huge Twenty20 C . . .
Uncategorized News - 17/06/2008 @ 23:59
An American billionaire who moved to the Caribbean 26 years ago has announced a multi-million dollar investment to bring Twenty20 cricket to the country. Sir Allen Stanford is bringing the game to the Caribbean because . . .

Caribbean investment property could be an opt . . .
Uncategorized News - 16/06/2008 @ 23:59
The market for overseas property investment became even more attractive this week after research revealed that the cost of a fixed-rate mortgage was at a ten-year high. According to research from Moneyfacts.co.uk, the a . . .

St Lucia hoping to attract varied range of to . . .
Uncategorized News - 16/06/2008 @ 23:59
Women could be attracted to property in the Caribbean when they visit the region on their holiday. St Lucia's minister for tourism and aviation is looking to attract fresh groups of tourists to the island and he believe . . .

Flights provide easy to access to Caribbean i . . .
Uncategorized News - 16/06/2008 @ 23:59
Flights from the UK to a Caribbean investment property are going to be even easier this summer after BMI announced plans to reduce the cost of flights to the region. The cheap airline is offering flights to Barbados and . . .

Crane Resort heading luxury Caribbean investm . . .
Uncategorized News - 15/06/2008 @ 23:59
The Crane Resort, based in St Phillip in Barbados, is leading the way in the market for luxury Caribbean property by offering a Registry Collection exchange programme. It is the first and only resort in the Caribbean to . . .

Caribbean's investment potential to be discus . . .
Uncategorized News - 15/06/2008 @ 23:59
A number of leading organisations from around the world are set to discuss Caribbean investment opportunities. Reports from Caribbean Net News revealed that the Annual Caribbean Tourism Summit in Washington will aim to . . .

UK housing market criticised by report
Uncategorized News - 15/06/2008 @ 23:59
A review of residential property has called for an overhaul of the housing market across the country. The Carsberg review, initiated by the Royal Institution of Chartered Surveyors (Rics) and the National Association of . . .

Inflationary fears and house price falls mean . . .
Uncategorized News - 12/06/2008 @ 23:59
According to Moneyfacts.co.uk a return to cheap credit will not be seen for some time to come. With the British housing market still reeling from the effects of the credit crunch, mortgage deals are few and far between . . .

Buy-to-let sector still sound, says NLA
Uncategorized News - 12/06/2008 @ 23:59
According to the National Landlords Association (NLA), the economic situation in the UK's buy-to-let market remains stable. The evaluation defies the recent downturn in the wider housing market which is still unstable, . . .

Barbadian leader confident that oil timebomb . . .
Uncategorized News - 12/06/2008 @ 23:59
The Barbadian prime minister David Thompson has announced his concern that soaringoil and food prices are threatening the Caribbean's economy. He said that some of the small-island states in the region are much more vul . . .

Ministry of Tourism in talks with LTU/Air Ber . . .
Uncategorized News - 11/06/2008 @ 23:59
Tyrone Sawyer, ministry director of airlift development, has announced that talks are being held with LTU/Air Berlin for future flights from Dusseldorf, Germany to Grand Bahama and Nassau/Paradise Island, according to re . . .

Proposed Family Islands Development Act would . . .
Uncategorized News - 11/06/2008 @ 23:59
New legislation that has been put forward by prime minister Hubert Ingraham could stimulate development in smaller islands and attract overseas investment, according to reports. The proposed Family Islands Development . . .

Punters bet on 18% house price fall
Uncategorized News - 11/06/2008 @ 23:59
Spreadfair clients have predicted that UK house prices will fall by 18 per cent by 2010, according to reports. This drop represents a fall of £33,000 on average to £151,100, which represents a month-on-month . . .

Cat Island development to be approved by gove . . .
Uncategorized News - 10/06/2008 @ 23:59
The government of the Bahamas has approved the development of a new golf and beach resort on Cat Island, after the project gained overwhelming support among local inhabitants, it has been reported. The proposed Cat Isla . . .