13 Oct 2009Blog

Caribbean holiday homes: live the island dream for less

by Maxwell

Interesting article on island real estate opportunities focusing on St Lucia and Barbados!

A recession may seem the worst time to consider snapping up a Caribbean holiday home, but two factors are combining to make property in the region more affordable than for many years.

The first is that prices have fallen on sun-kissed islands just as much as in rainy Britain. “In Barbados, the island with the best access from Britain, prices are 15 per cent down on 2007 levels. On smaller islands with less developed infrastructure, prices are down 20 per cent or more,” says Georgina Richards from Knight Frank, who has been selling homes in the Caribbean for a decade. With sales in the region down by more than 50 per cent and tourism rates down by 30 per cent, estate agents and developers are anxious to keep prices competitive.

See full article.