In addition to our real estate marketing work Resort Consultants has addressed analytic studies within the Caribbean Basin since 1986.
Historically, the Caribbean Basin rarely experiences volatility regarding, especially, residential pricing and values. The exceptional worldwide economic downturn certainly did impact the region with many islands witnessing anemic growth and more likely a distinct softness in real estate price and value.
Finally, in late 2013 the Caribbean’s fortunes began to rebound with investment arriving from numerous international sources – many investing in the region for the first time. Our recent transactions review of a dozen major projects in various islands has revealed, for the first time in six years, a solidifying of pricing and even modest price increases. The strongest segment regarding pricing strength appeared to be more upscale properties priced over $3M. Mid-level properties, $500K to $2M still had a considerable percentage of price negotiation, albeit, to a much lesser degree than in the previous six years.
(Compiled by Resort Consultants staff, 7/14)