Real Estate Market in Aruba is Improving
Aruba’s real estate market is now recovering after years of low condition and this is all because of their robust economic growth and a continuing tourism growth.
We are yet to find an official data on the cost of an average house prices per square meter in Aruba, however, imagine a two-bedroom house with a pool would cost you around US$325,000. The economy in Aruba has slowly gaining grounds since the economic crisis in 2009 and property market is now recovering in the middle of their economic growth in 2013.
Located south of Malmok is Bakval which is considered in Aruba as having the most expensive housing. The largest group of homebuyers in Bakval are North Americans, especially from the United States, with residential properties ranging from US$800,000 to US$1.3 million. Recently, there has been growing interest for the real estate properties from South Americans like Brazil and Venezuela.
Residential construction in Aruba shows also its growth that boosts the residential market, and this is shown by the number of construction permits rising to 18.8% being granted for houses and apartments.
Being tagged as paradise here on earth, Aruba’s real estate market is booming. When purchasing, owning or exploiting real estate in Aruba, you have to consider the real estate tax of the place. Buying a house and living in Aruba, just like in other places, would need paperwork and this you must understand about its requirements.
Several Aruban realtors are available who can help and assist you in understanding and going through about the rules and regulations regarding real estate ownership in Aruba.
To suit every type of traveller, there are several varieties of vacation property rentals available in Aruba. Aruba offers all real estate for rentals, from a cosy studio apartment, to a private beach villa, a luxurious condo, or a fully furnished timeshare unit. These mentioned properties are available in all price ranges based on location, group size, level of comfort, square footage and amenities.
Aruba property rentals are available whole year round, but it is during December which is the busiest, that in fact, many units are rented several months ahead of time. Several visitors and tourists would usually select a condo or apartment as their vacation place in Aruba and these are available for long and short term stays. The homey ambiance, size and convenience of vacation apartment rentals make these units a preference of many travellers and tourists in Aruba as compared to resorts or hotels. Depending on the unit you have chosen and the length of stay, you can have free internet access, daily housekeeping, breakfast, a pool, an outdoor dining facilities and other amenities.