Enquiries for Caribbean property on the rise
Monday 28th of November 2011
New figures have found that enquiries for property in the Caribbean are increasing. An international search agency has been ‘inundated’ by enquiries in the last few weeks, many from European buyers looking to snap up properties in buoyant markets.
St Lucia an excellent alternative to Barbados
The search agency reported that it is handling £100m of instructions for Caribbean countries including St Lucia, the Bahamas, Antigua, the Dominican Republic and Barbados.
Penny Mosgrove, head of international sales, said: “Normally we see the rush for winter sun hit its peak in January. This year we have been inundated by November and will be conducting a number of viewings this side of Christmas.”
Many foreign buyers are turning to Caribbean property thanks to underperforming property markets in their own country or in neighbouring European countries.
Wealthy British buyers are still attracted by the excellent leisure facilities and direct flights to Barbados, although neighbouring St Lucia offers many of the same benefits but with lower property prices.
Mosgrove continued: “St Lucia is a perfect winter retreat and looks like a bargain when you consider that comparable properties are around 45% cheaper than those in Barbados”.
Private islands attracting wealthy property buyers
If you’re looking for luxury Caribbean property, the island of Mustique remains popular with wealthy foreign investors. Many people choose the island as it can only be accessed by private plane meaning it provides more privacy than many other destinations.
However, other private islands are starting to emerge as developers see the attraction of remote, isolated islands which offer premium resorts which guarantee a wealthy clientele.
For example, an investor has recently purchased a private island near Hope Town which will be called The Island Club. With just ten villas and a private members club the first villa has already been sold despite a starting price of $4.5 million (£2.87 million) and no marketing.
