18 Jan 2010Blog

Buying a Piece of the Caribbean

by Maxwell

Barbados still up there at the top……

The Caribbean, the playground of the rich and famous, has been getting more affordable. The depreciation of the US dollar against major currencies such as the British pound and the euro, has made Caribbean properties more attractive.

More affordable… but still not cheap! Property prices in more popular and developed islands can easily reach over one million US dollars for a house and lot near the beach.

In its latest survey of Caribbean property prices (March 2008), the Global Property Guide finds that in Bermuda, the average price of a three bedroom house and lot is around US$1.5 million.

In Grand Bahama, Bahamas, a similar property costs around US$1.4 million, according to Global Property Guide figures.

Property prices in highly-developed areas such as Bermuda and Bahamas exceed US$7,000 per sq. m.

Coastal properties in Barbados are also expensive, at around US$6,700 per sq. m. In the British Virgin Islands (BVI), the US Virgin Islands (USVI), real estate prices are around US$5,000 per sq. m. Sint Maarten also has expensive properties at around US$5,300 per sq. m.

See full article here.