Caribbean Property Market Flourishes
Sy Peterson
World Wide Resource UK Caribbean Investment Property http://www.worldwideresource.co.uk Property in the Caribbean
The Market: Business is booming
Year-round sunshine, palm-fringed sandy beaches, warm turquoise water& Its not difficult to see why so many people jet out to the Caribbean for a dose of rest and relaxation each year, fuelling a stable tourism-based property market. And it appears that these tropical islands have confounded the doom mongers who expected a downturn in the US real-estate market to have a knock-on effect in the Caribbean.
The property market in the Caribbean has performed extremely well in the last year, says Sy Peterson, Managing Director of World Wide Resource UK. We were concerned because the US real-estate bubble started to show signs of cracking, with an oversupply of property, which in turn sent prices plummeting.
While these islands may only be a short hop from the USA, it seems that American problems have done nothing to dent investor confidence in the Caribbean. We have the world-class Atlantis Resort, the Four Seasons, and now Caesars Palace and Starwood in the not too distant future, says Peterson. All this development shows confidence in the market for property appreciation. On the other side of the Atlantic Ocean, the pounds strength has contributed to an increased demand for Caribbean property from British investors. The number of British buyers in the Caribbean is on the increase, says Peterson. Mainly due to the Euro and Pound trading well. We are seeing a lot more Europeans too, especially Spanish, Germans and Swiss. But its the Brits in particular who feel most at home with the Caribbean property. The Caribbean is part of the Commonwealth, so British buyers feel comfortable with the laws. And the islands are English speaking, says Peterson. It also has a very large English contingent. Plus there is easy access, with direct flights out of London.
And as for future hotspots, Peterson believes that St Lucia will do well: St Lucia is very popular with British buyers, likewise St Vincent and Dominican Republic. And the future hotspots are...
For more information on caribbean property investment visit www.worldwideresource.co.uk. And make sure you check out our property investment report and our property news section. You may also find our page on buying off-plan propery in the Caribbean interesting.
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