According to the most recent issue of 7th Heaven Properties' annual magazine The Caribbean Property Investor, the Caribbean real estate and tourism sectors are poised for growth in 2015.
Analysis of trends in The Caribbean Property Investor magazine, indicates that the high quality of living, good value for money and stability offered by the Caribbean region has reinforced its appeal to property buyers and investors, particularly in the face of social, economic and political volatility in other regions.
According to Walter Zephirin, Managing Director of London-based 7th Heaven Properties which publishes The Caribbean Property Investor annually: "Many investment locations such as the Turks & 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. 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."
Walter Zephirin added "Locations across the Caribbean and Central America are benefiting from an upturn in the USA, Canada and the UK, resulting in an increase in visitor arrivals, tourist spend and property sales. A growing pipeline of new projects, significant infrastructure investments and a thawing in relations between the USA and Cuba are also expected to provide an additional boost to the region."
Key insights from issue 5 of The Caribbean Property Investor are listed below. To access the magazine in full free of charge, please visit:
http://www.7thheavenproperties.com/register-caribbean-property-investor-magazine.html
Key insights:
- A positive economic outlook for the Caribbean and Central America region, according to an interview with a VP at Moody's Investors Service, with GDP forecast to grow 5.8% in Panama and 4.8% in the Dominican Republic in 2015.
- A strong pipeline of 167 hotel projects in development across the Caribbean and Mexico, according to hotel research expert STR, including numerous resorts with luxury residences for sale in destinations such as the Bahamas, Puerto Rico and the Turks & Caicos Islands.
- A series of announcements relating to new luxury residential developments in multiple locations, including Antigua, Costa Rica, Honduras and Panama.
- Government programs incentivising property buyers, including Citizenship by Investment programs in Antigua & Barbuda, Grenada and St Kitts & Nevis as well as retirement programs in Belize and Panama.
- An increase in direct flights to destinations including Costa Rica, the Bahamas, the Dominican Republic and St Lucia improving access for tourists and property buyers.
- Recent and on-going investments in private jet terminals and airport upgrades supporting future growth in high end tourism and luxury real estate sales.
