The US buyers return to the Caribbean property market. In some markets, such as islands Mustique and Saint Barthelemy, have also achieved strong growth in prices.
On island Mustique, known thanks to the Queen Elizabeth II’s sister Margaret, has only 100 villas. The activity of the highly restricted market is significant in 2017, with the average selling price reaching about 35 million USD – the highest level for the past few years.
The latest analysis by the consulting firm, Knight Frank, also points out that about 70% of the Caribbean is not affected so strongly by the hurricane season and demand in 2017 has been great.
There is also growing demand for Chinese investors in the region. The report explains that this is due to greater opportunities for investment and commercial cooperation between Chinese companies and the Bahamas.
The market has the potential to attract more European buyers, including British investors looking for a second home in warmer countries. The Caribbean would be a safe destination for the British after the country came out of the European Union (EU).
According to the Barbados report, it is currently one of the most attractive markets in the region in terms of prices that have fallen in recent years and have almost reached the bottom reported in 2008.
The big deals on the market in the region – for over 10 million USD, show that the appeal of buyers of luxury properties is coming back. Those buyers who are not sure whether they are currently investing in Europe or are deterred by Brexit believe that now is the right moment to look at the opportunities of the Caribbean, which offer a more relaxed way of life.
Credits Finance and Markets.com