In the XVI and XVII centuries. Roatan Island was ruled not by Spanish and British colonialists, who at that time ruled the ball in most Caribbean countries, but by pirates, among whom was Henry Morgan. The son of an English landowner, Henry, was hired as a cabin boy on a ship, was sold into slavery, but seven years later he was freed and became a pirate, his ships terrified Jamaica and Honduras. Henry Morgan was eventually arrested, but after a short trial was found not guilty and sent to Jamaica, this time with the rank of lieutenant governor.
Today, geographical names remind of the golden age of piracy on Roatan Island – for example, Coxons Hole Bay (in honor of the pirate John Coxon) and Oak Ridge Bay, where Johnny Depp docked on his ship in Pirates of the Caribbean.
The indigenous inhabitants of Roatan are considered to be representatives of the Garifuna people, in whose veins the blood of local Indians and black slaves brought by colonizers from Africa in the XVII century mixed. They are very friendly, as, indeed, are most people in the Caribbean. There is almost no crime in Honduras, and despite the fact that the locals are relatively poor, they treat foreigners very well. The growth of the construction sector benefits the island and has a positive effect on employment: As a rule, foreign developers hire local workers, who are led by foreign managers.
53 km of happiness
The largest on Roatan is the Oceano Village residential project, consisting of 700 units and located in the middle of a 53-kilometer island. Now Canadian developers have already completed the construction of the first buildings, while the developer company is guided by the principles of social responsibility and environmental friendliness.
Dan Yenkins, the chief architect and author of the Oceano Village project, describes the future resort as a small paradise on earth. "Our goal is to create a resort village where people will harmoniously enter the ecosystem without coming into conflict with it," says Dan Yenkins. "I have been looking for a long time for a place that would be suitable for the realization of my idea."
As part of the project, separate houses, two-family houses and condominiums of various designs are being built in Oceano Village, with an emphasis on energy conservation. The air in the houses will be cooled by wind, that is, naturally, and not with the help of traditional air conditioning systems for our time. The most affordable one-bedroom apartments are priced at $238,000.
Bart Yang Hin, a realtor at RE/MAX Roatan, notes that environmental factors are a priority when planning construction on the island. "Our newest golf complex on Roatan includes an 18-hole PGA golf course designed by Pete Dye,– says a company representative. – It is known that he has a special philosophy, which is implemented in the design of golf courses and consists in the desire to minimize environmental damage. Pete Dye is implementing the project on Roatan together with the well-known EDSA company, which is engaged in designing resorts."
Roatan has gained worldwide fame among scuba diving enthusiasts due to its impressive underwater landscapes and absolutely clear water. It is off the coast of Honduras that the second largest coral reef (after the Australian Great Barrier Reef) is located. It is not surprising that there are about fifty world-class diving centers here. Several hundred species of fish also live here, so fans of tropical fishing are increasingly coming to Roatan. "Roatan has recently been included in the list of the "10 best fishing spots" compiled by Fly Fishing and published in Salt Water magazine," says Bart Jan Hin. "Fishing enthusiasts will be pleased with the abundance of tarpon, Albula and Pompano turquoise waters here. We should not forget about the beautiful beaches, rainforests and mountain ranges that stretch from west to east of Roatan."
The crisis is over
Now RE/MAX Roatan offers luxury condominiums with two bedrooms and one bathroom in the Sandal Wood complex, which is located next to the prestigious Half Moon Bay resort. Prices for the facilities start at $199,000.
Bart Yang Hin claims that currently on the island, depending on the level and location of housing, rental income can vary from 4 to 10%. The growth in the value of real estate over the past five years has been stable, according to the expert, it ranged from 15 to 20% per year, and some objects have become twice or even three times more expensive in a few years: "Now there is a slight slowdown in growth rates, but we believe that Roatan copes well with the global crisis compared to with other regions."
Thus, the price of housing in the Hill Top Villa complex, located on the territory of the protected village of Blue Ocean Reef at the Nikki Beach resort, has doubled over the past five years. Now you can buy a three-storey villa with four bedrooms, three bathrooms and a swimming pool for $850,000. The house is located next to the beach, with views of turquoise water and coral reef.
In the popular and bustling western part of the island, the construction of Mangrove Dock, a new residential complex with great rental potential, will soon be completed. The exclusive project is designed for only 9 apartments with three bedrooms and two bathrooms. The minimum price of the apartment is $450,000, and luxury furniture can be purchased for an additional $50,000.
Thanks to such high-quality and expensive projects, as well as investments in infrastructure, the future of the Roatan Island residential market looks quite optimistic. There is a place for golf lovers, anglers, and those who want to spend their holidays on beautiful beaches and restaurants. 450,000 passengers visit the island annually as part of sea cruises, direct flights from Europe are made here. According to the conditions for recreation, this Honduran island can be compared with the Turks and Caicos or the Cayman Islands, but the prices for high-quality housing on Roatan are much lower.
