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REASONS TO INVEST IN ARUBA
This year, investing in property should be on your list of financial goals. For Americans and Canadians, buying property in the Caribbean is a great investment. Caribbean real estate is increasing every year and still has the most competitive prices, and the benefits provided by tourism to revalue investments are endless. These are just a few reasons to invest in Aruba.
REASONS TO INVEST IN ARUBA
This year, investing in property should be on your list of financial goals. For Americans and Canadians, buying property in the Caribbean is a great investment. Caribbean real estate is increasing every year and still has the most competitive prices, and the benefits provided by tourism to revalue investments are endless. These are just a few reasons to invest in Aruba.
GOVERNMENT INVESTMENT FOR
ARUBA’S ECONOMIC GROWTH
Like other nations affected by the Covid-19 pandemic, Aruba has had a gradual economic recovery. Since last year, some plans have been launched to boost the country’s economy. According to The New York Times, Aruba plans to invest approximately $153 million this year and $264 million in 2023 to ramp up accommodations.
In terms of even more expansion, Aruba’s Queen Beatrix International Airport’s Gateway 2030 project is an ongoing plan to redevelop and expand the airport in various phases over the coming years. Construction of the first phase already began last June, allowing more flights to come in from all over the world and, therefore, cause an increase in tourism to the island.
These significant investments for growth in Aruba will help to maintain and increase the value of the properties located here. In addition, anyone who owns property in Aruba will be able to enjoy every tourist initiative that comes up in the coming years, regardless of whether they are moving to the island permanently or if they only use their property as a vacation home. In the high season, property owners will be able to take advantage of their property, especially if that property is part of a specialized rental program such as the Harbour House Aruba Rental Program.
FOREIGN INVESTMENT INCENTIVES IN ARUBA
Foreigners can invest in Aruba pretty easily since they have no major restrictions. In fact, there are many incentives offered to foreigners, and these are just a few of them:
Foreigners in Aruba have no restrictions on owning property. The government offers residency to foreigners who buy a property in Aruba and have an annual income of 60,000.00+ USD.
Property taxes are very low in Aruba compared to other Caribbean islands. U.S. and Canadian homeowners are taxed at a rate of 0.4% of their property’s value, which is subject to a $33,000.00 deductible. In addition, Aruba exempts the capital gains derived from the sale of real estate by non-resident natural persons from income taxes.
Financing is possible for foreign buyers buying in Aruba. Banks typically lend up to 60% of the value of a property with mortgage terms ranging from 10 to 30 years, depending on the borrower’s age.
ARUBA’S WEATHER
Aruba has an exceptionally pleasant climate, which is typical of the Caribbean. Its average annual temperature is 28°C, making it the perfect winter vacation destination for the United States and Canadian residents. Aruba is said to have 360 days of sunshine, which is pretty amazing!
Thankfully, the island is located outside of the Caribbean hurricane zone, making it a very safe place to live, and far away from natural disasters. This means you will be able to enjoy a peaceful and quiet relaxing vacation every time you visit Aruba or, better yet, when you decide to move here!
ARUBA’S BEACHES
The Caribbean is known for its beautiful beaches, and Aruba has many to enjoy. If you decide to buy a property on the island, be sure that it is an oceanfront property, as this will ensure the value of your investment goes up. Truly, all beaches in Aruba are heavenly, and we have included our top 3 recommended here.
EAGLE BEACH
Aruba’s Eagle Beach is a popular tourist spot, a beach of white sands, clear pristine waters, and restaurants right across the street. It’s relatively calm and safe for swimming. However, the kids should swim with adults. One of the fun activities you could do here it’s Jet Skis. Zip along the northern end of the beach while enjoying the view!
Eagle Beach is 12 minutes away by car from the Harbour House complex so, if you rent a property with us, this beach is an absolute must. Also, after enjoying a beach day you can step by Lima Bistro Restaurant to close with a flourish, the delicious flavors of their international cuisine.
PALM BEACH
Palm Beach is located north of Eagle Beach and is one of the most popular and tourist-packed beaches on the island. Water sports and other exciting activities are readily enjoyed here, including banana boat rides, wakeboarding, water skiing, parasailing, and flyboarding. There are also plenty of shops, restaurants, and Aruba tourist attractions nearby.
BABY BEACH
Baby Beach is located on the southern tip of the island. It’s a beautiful blue lagoon surrounded by a crescent-shaped slice of white sand, which makes it a great choice for families with small children due to the calm, shallow waters. So, if you come to Aruba with your kids, make sure you include this nice beach on your list.
Along with all the beautiful beaches, there are many other reasons to invest in Aruba. We highly recommend that you travel here first to understand all of your property options. Then find the perfect one for you to ensure you get a great investment price. At Harbour House Aruba, we have units available in a wonderful location, which also makes them excellent for families. Contact us today to learn more about our amazing investment opportunities!
The original version of this article appeared in Harbour House Aruba