Marc and Sylvie invested in Martinique from Canada

Marc and Sylvie thought no bank would lend to Canadian residents for a property outside Canada, and, nearing 60, they feared being judged too old. They secured their financing before even looking for the property. The term went from 12 to 15 years, and the deferral from 8 to 10 months. The bank then added the works to the loan: they borrowed €370,000. The one downside was a disorganised bank that lost their file: it took around four months.

In Martinique, the high season runs from December to March or April, and everything is full. They will let short-term on Airbnb or Booking, then medium-term until December, with a concierge service. With a pool planned in the garden, the studios could let for up to around €900 on a medium-term basis. Their calculations, done at the lowest estimate, come to around €67,000 of rent a year.

From Toronto, they use their stays in Martinique to search. At the end of February, they go round the agencies and shortlist several properties. In May, Sylvie returns, lets the agents know and lines up the viewings. She films the house for Marc, who discovers it on video. Lettings will be handled by a concierge service, “because we’re far away”.

The house is only 18 years old: the studios mainly need a coat of paint. Empty for a year after its owner died, it needs work outside: the vegetation to clear and some cement work to patch up here and there. Marc and Sylvie also plan to landscape the garden with a pool.