So no, you don’t need to have a budget of USD 1 million to buy a house or a condo in the Caribbean. There are stunning beachfront homes that sell for $500K or less. If you go through the listing at Caribbean-escape.com, you will find a wide selection of condos, villas, and stand-alone beach houses within that price range. Most of those residential units are spread across the Caribbean coast of Central America and the many Caribbean islands.
So, anyone interested in investing in a Caribbean beachfront home valued under $500K will find the following list very useful.
For many years, tourists flocked Jamaica because of its beaches, climate, cuisine, culture, and welcoming locals. Nowadays, Jamaica is attracting interest from overseas property buyers because of the availability of beachfront homes. Many of them have an asking price of $500K or less. The gated communities at Ocho Rios and St. Ann’s Bay are some of the places where interested parties can find beachfront houses within that price range. Both places include tennis courts, communal pavilions, a restaurant, access for boats, a basketball court, and many other amenities.
Turks & Caicos
Thanks to its crystal clear turquoise waters and powder-soft sandy beaches, Turks & Caicos is one of the most sought after locations for real estate. As a result, properties there almost always come with a hefty price tag attached to it. But always insinuate that sometimes it is possible to find something with a more reasonable price. Beachfront houses at Grace Bay start at just $377K. They are located within a new condo-hotel and are set next to a fantastic pristine beach.
You can find some of the most expensive pieces of property of the Caribbean in the Cayman Islands. In particular, it is Grand Cayman, where property prices are always super high. However, the east end of the Grand Cayman is not that expensive. It is a laid back and quiet area where you can still find beachfront houses within the $500K price range.
Punta Cana, Dominican Republic
Punta Cana offers a wide selection of beachfront condos starting at just $287K. You get not only access to fabulous white sand beaches but also plenty of amenities such as a gym, secure parking, beach club, beach restaurant, pools, Zen gardens, and so on. Moreover, you can rent it out whenever you are not there and collect more than decent returns. According to several local sources, condo owners can count on six to seven percent annual return.
Palmetto Vay, Roatan
Roatan is an idyllic island, part of the Bay Islands, located in the western Caribbean. There you can find a beachfront house starting at just $430K located only a few steps from the beach and a breathtaking view.
There is only a limited number of houses within the $500K price range. Some can be found near San Pedro and are part of a boutique development. Residents there can enjoy direct access to the beach, pools, a dock, restaurants, and so on. Plus, the nearby Barrier Reef is a very popular snorkeling spot.