Analysis by specialist real estate company 7th Heaven Properties indicates that the Caribbean region has reinforced its appeal to property buyers and investors from around the world, particularly in light of social, economic and political volatility in other regions.
“Many investment locations such as the Turks and Caicos, the Bahamas and the Cayman Islands experienced strong growth last year and we expect 2015 to be the year that the Caribbean real estate market as a whole turns a corner,” says Walter Zephirin, managing director of the London-based company.
“A growth in enquiries from prospective buyers indicates a renewed confidence in the region and sales levels on many islands are returning to pre-crisis levels.”
Zepherin points to a positive economic outlook for the region, growing activity from North American and UK visitors and the number of proposed developments across the Caribbean as being reasons to believe that the property market is likely to enjoy a good 2015.
There have recently been a series of announcements relating to new luxury residential developments in locations such as Costa Rica and Honduras Panama, and of government programmes to incentivise property buyers and retirees.
