Caribbean looks set for a property market boost in 2013
Brazilian and Italian buyers are leading a new mini boom in the Caribbean property market with the start of 2013 seeing an increase in interest in real estate in the region. The Caribbean has seen property prices fall around 10 to 20% since the economic downturn of 2007 and sales also fell off. However, six years on from the first signs of the financial crisis, the Caribbean looks to have weathered the storm, according to the latest analysis report from international real estate consultants Knight Frank.
The firm has also recorded a spike in inquiries about property that started at the end of 2012 and it says this may bode well for the market in 2013. Long favoured by buyers from the United States, Canada and Europe, the firm’s global property search website which generates around 700,000 hits per month, has detected an increase in interest from buyers in Latin America, particularly from Brazil, as well as from prospective buyers from Italy, Russia and central Europe. [click to continue…]
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