Coldwell Banker Islands Blog

The annual conference of the Caribbean Hotel & Tourism Assn. was held earlier this month. The TCHTA won an award for the most Newsworthy Electronic Newsletter for the Association’s quarterly newsletter Spotlight,written and designed by Bornewell Marketing Ltd. Spotlight was selected as the winning electronic newsletter by Lou Hammond & Associates, one of the largest travel Public Relations firms in North America.

Caesar Campbell, CEO of TCHTA, proudly commented, “Our newsletter is delivered quarterly to our members and is geared toward sharing information on the hotel and tourism sectors as well as recognizing the achievements of our members, and providing insight into opportunities for marketing, networking, education and training within the tourism industry.” Campbell was re-elected as a Director of the Executive Committee of the CSHAE (Caribbean Society of Hotel Assn. Executives).

(resource: South Florida Caribbean News)

May 4 will be the date Discovery Cruise Line (DCL) resumes sailing. Repairs estimated at more than $1,000,000 have been completed, and the most popular form of travel for Grand Bahama residents will be ready to operate.

Repairs included a main port piston which caused damage to adjacent pistons. The engine block had to be welded. this is the first time DCL has had a problem of this magnitude and the necessary checks at dry and wet docks have been done over the years.

DCL representative Yannick Toussaint said that the company now plans to implement an on island emergency team to assist in a time of crisis and act as representatives for the company.

Discovery is unique because passengers carrying extra luggage are able to bring that with them and clear it at the terminal. The line provides a great service to our island and we will be happy to see it back in service.

The first two phases of construction on the resort-like development of Ocean’s Edge are progressing, according to the developer, and the sales center has started on a phase two round of sales.

The interim rental program is doing well with most available phase one units currently rented out on long-term stays. In fact, a representative for the developer told the Real Estate Channel that St. Kitts appears to have created a lot of future demand for long-term accommodations due to a number of universities on the island, including medical, nursing and vet schools that are attracting a growing number of students and professors.

Ocean’s Edge has plans for 170 condos and 23 custom villa units at build out.

Property prices range from $359,000 for 1-bedroom beachfront units to more than $1.4 million for the custom lot/villa home packages. Among the 15-plus units now open are 2-bedroom hillside units with private plunge pools, priced from $575,000, and some 1-bedroom beachfront condos.

Ocean’s Edge is a 40-acre resort development overlooking Frigate Bay and adjacent to the popular Royal St. Kitts Golf Club, one of the few courses in the Caribbean with views of both the Atlantic Ocean and Caribbean Sea. A variety of leisure and entertainment facilities are planned, including a clubhouse, fitness centre, restaurants, pools and tennis courts.

(resource: RealEstate Channel Luxury Resort & Real Estate News)

The first two phases of construction on the resort-like development of Ocean’s Edge are progressing, according to the developer, and the sales center has started on a phase two round of sales.

The interim rental program is doing well with most available phase one units currently rented out on long-term stays. In fact, a representative for the developer told the Real Estate Channel that St. Kitts appears to have created a lot of future demand for long-term accommodations due to a number of universities on the island, including medical, nursing and vet schools that are attracting a growing number of students and professors.

Ocean’s Edge has plans for 170 condos and 23 custom villa units at build out.

Property prices range from $359,000 for 1-bedroom beachfront units to more than $1.4 million for the custom lot/villa home packages. Among the 15-plus units now open are 2-bedroom hillside units with private plunge pools, priced from $575,000, and some 1-bedroom beachfront condos.

Ocean’s Edge is a 40-acre resort development overlooking Frigate Bay and adjacent to the popular Royal St. Kitts Golf Club, one of the few courses in the Caribbean with views of both the Atlantic Ocean and Caribbean Sea. A variety of leisure and entertainment facilities are planned, including a clubhouse, fitness centre, restaurants, pools and tennis courts.

(resource: RealEstate Channel Luxury Resort & Real Estate News)

Tingalayo - a brand new 4 bedroom main house with 2 bedroom guest cottage and absolutely unbeatable views…

On 4 acres, perched high above Tortola’s West End, Tingalayo is comprised of four interconnected pavillions and, down a flight of steps, an independent guest house. A large infinity-edged heated pool on a coralstone terrace provides a link between the living/dining and sleeping pavillions, while a sheltered courtyard joins the children’s lounge and the master suite. Sunny decks and shaded terraces offer 180 degree views.

Read more details at our Coldwell Banker Listing page.

Asking $4,500,000

Forbes.com reported that the PGA has plans to finance a resort which will create 900 jobs and hopefully boost tourism. The construction should also provide 200 temporary jobs.

Planned are a hotel, golf course, casino, and maybe a marina. Ground was broken this week.

The Ninth Annual Soul Beach Music Festival in Aruba is scheduled for May 20-25, 2009. This year’s festival offers live performances by Grammy Award-winning singers/songwriters Robin Thicke and Common, Oscar-winner Jamie Foxx, music superstar Estelle, entertainer Wayne Brady and Caribbean favorite Etana.

Soul music fans from around the world can take part in nightclub festivities, sizzling beach parties and live concerts.

The Soul Beach Music Festival’s full schedule of events and ticket pricing information can be accessed at www.soulbeach.net. Specialized vacations to Aruba during the Soul Beach Music Festival can be booked through www.aruba.com. Festival travel packages, including hotel accommodations, are being offered by Renaissance Aruba Resort & Casino and Brickell Bay Beach Club.

The sky is probably blue and the sun is more than likely shining. So why even bother bringing up the horrible subject of mortgages? Why spoil your day and possibly your vacation?

Because here in the BVI, believe it or not, we actually have some good news on the subject. If you are considering purchasing property in the BVI, residential mortgages are readily available for both local and overseas purchasers. Hearing that from a realtor probably isn’t overly convincing so perhaps a word or two from the banks themselves might help…

Paul Gourieux, Country Manager, First Bank (BVI) Ltd

“FirstBank has numerous choices for clients looking to purchase, build or refinance a home. As the largest financial institution in the Virgin Islands, FirstBank focuses on meeting the individual needs of borrowers. The corporation is well capitalized and looking to lend money to help our community grow. By making prudent lending decisions and staying out of the “sub-prime” market, we have been able to successfully grow our portfolio and maintain a healthy forecast for the years ahead.”

Joyce Murraine, Managing Director, Scotia Bank (BVI) Ltd

“Scotiabank is listed in the top ten best performing banks in the world. We are eager to assist consumers in owning their own home faster. Visit us today and let us show you how quickly you can become a homeowner.”

Robert Hirst, Head of Banking, VP Bank (BVI) Limited

“VP Bank provides personalized service and can tailor loan solutions to meet the individual needs of clients.”

So there you have it. Yes, the ‘Loan To Value’ ratios have tightened up a touch – a reflection of the global financial situation - but money is available to buy or build a home in the BVI. Foreign purchasers should note that a Non Belongers Land Holding Licence is required before a BVI bank will lend money to purchase property. But you can get pre-approved for financing before entering into an Agreement for Sale and applying for your licence. Drop us a line at info@coldwellbankerbvi.com and we would be happy to put you in touch with the right people at any of the banks. We can also email you a very simple table of the rates and terms available at this time.

Coldwell Banker Lightbourn Realty brokers and sales associates will take part in the 2nd annual Bahamas Real Estate Expo at the Wyndham Crystal Palace Resort in Nassau this weekend.
When you enter the expo room, our booth will be straight ahead of you. We will also have the first booth to the right on the same row.
Our real estate experts will be available to answer questions about buying and selling homes and properties in the Bahamas, and will have our inventory at their fingertips.
More than 100 exhibitors are expected to take part in the Bahamas Real Estate Expo. In addition to brokers, finance companies will be available to discuss and pre-approve mortgages.
Law Firms will be on hand to explain legal aspects of purchasing homes, insurance companies to help you plan for the unexpected and architect firms to talk about your dream home.
The Real Estate Expo provides a One Stop Shop and is a great way to find property or lay the groundwork for the future.
Drop by and see us at our booth. Look for the Coldwell Banker Lightbourn Realty banner.

Cayman Islands will host a Squash Championship May 5-10 at the South Sound Squash Club. As a sanctioned tour event, $30,000 and world ranking points will be awarded.

Among the players who will participate in the 23 games to be played during the five days include four of the top five women in the world and the top three men in the Caribbean.

Representing Cayman Islands will be the National Champion Dean Watson, Cayman Junior Champion Cameron Stafford, South Sound Club Champion Jake Kelly and Ryan McConvey who has competed in the Commonwealth.

Read about the tournament at Cayman Net News.