Enquiries for Caribbean property on the rise

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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.