Suriname Real Estate Offers Limited, Selective Scope For International Investments

It is the only nation outside Europe with Dutch as the official language

, while a local Creole language variation is also widely spoken. The country is truly multi-ethnic, with the other major languages prevalent in Suriname being Hindi, Javanese, English, Spanish, Portuguese, Chinese, and other local tribal languages. Bauxite mining is the major contributor to the economy, forming 15% of the GDP and providing about 70% of its export earnings. Real estate in Suriname is yet to get adequate international exposure.

Tourism, particularly ecotourism, is gaining ground in Suriname due to the exceptional biodiversity in this small nation. About 30% of the land area of the country is protected as reserve areas by the law of Suriname. This leaves very little scope for active international real estate investment in this nation, with the number of Suriname real estate for sale and Suriname rentals offered in the market remaining quite limited.

In spite of this inadequacy, Suriname real estate market provides variety of options for locals as well as international real estate investors. Individual homes and condos for sale or rent, commercial plots and properties, and land parcels are available at affordable rates across the country. The coastal properties are the other major Suriname real estate listings that could be seriously considered. These coastal real estate offerings are available from $650,000 per hectare. The major advantage of these properties is that they are very near to the capital city of Paramaribo.

However, the excessive money-laundering operations going on in Suriname by narcotics dealers and even politicians had made the government tighten monetary laws. All amounts in excess of $10,000 that enter or leave Suriname should be reported to the authorities by the banks and other money transfer agents. Transactions in excess of $10,000 are possible only after getting permission from various government departments.

This makes it difficult for international real estate investors to purchase properties in real estate of Suriname. The prospects of value addition in the next few years are not very clear. When the property is finally sold, taking the money out of Suriname is also a difficult process. Due to the various reasons listed above, real estate in Suriname is languishing without much foreign investment. Only the illegal money launderers and narcotic smugglers are investing their unlawful earnings in hotels, resorts, casinos, and other Suriname real estate for sale and Suriname rentals. It could take a few years for the situation to change to enable international real estate investors to benefit from Suriname real estate listings.

by: Taylor White

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