Americans recognise that property resorts in Brazil and St Lucia offer great investment opportunities for second home buyers in the Caribbean, writes Ben Lewis. The development of upmarket investment property in the Caribbean is continuing to push ahead as more and more North Americans recognise their investment potential. With off-plan beachfront property in North Brazil currently available and a five-star project in St Lucia being developed ahead of schedule, investors itching to get their hands on property in one of the most promising emerging property markets are taking advantage of the choices on offer.

The Lagoa resort in north east Brazil is one such development with property available. Tony Sparks, Managing Director of AGS Properties says, "Lagoa do Coelho Resort is a first rate investment opportunity in a country that looks set to be one of the best investments of the decade. Brazil has been transformed in recent years as it has stepped up a gear in the international property arena and many North Americans have been keen to invest here as they recognise the tremendous opportunities that are just on their doorstep."

The Lagoa do Coelho resort is said to be built to high European standards and come with the option of stage payments and rental guarantees. Prices start from £53,000 for a one bedroom apartment in phase one of the off plan stage with significant increases expected before completion.   

In St Lucia, building work at 'The Landings' on Rodney Bay are expected to be completed ahead of schedule after the first stage of construction was completed ahead of schedule. The Landings is a development of water-front residential homes. It will have 229 freehold residences, each with a beach, harbour, lagoon or channel view. Its facilities will include gourmet restaurant, bars, beach club, fitness club, luxury spa and salon, swimming pools, tennis courts , concierge services and lifetime membership at St Lucia Golf and Country Club. Residences at The Landings are from $595,000 to $1,690,000.

According to Frank Heaps, CEO of The Landings the properties are selling like hot cakes. " We are well on course for the second stage to begin in November, with the full project complete by the summer of 2010. The first phase apartments will be ready for occupation early next year, in time for the opening matches of the 2007 Cricket World Cup at the nearby Beausejour Stadium. The homes at The Landings are selling fast. Just two of the 24 residences in the first two Beach Blocks remain unsold, while 21 of the 42 apartments in the first Harbour Blocks have already been sold."