Caribbean property prices are continuing to rise at more than 15 per cent despite a world economic slowdown, investment specialists say.
Cluttons said values on Barbados are rising 10 to 15 per cent per year in mid-market property areas and even higher in some cases, suggesting the idyllic state could be an investment hot spot.
According to research and figures from Cluttons, prices have never gone down in the history of the island’s investment market, with new developments still being built.
The company pointed to the west coast of the island, where the Four Seasons luxury residences and hotel are under construction.
The island can also cater for nearly all property investment budgets, experts added.
Cluttons said: “It is widely believed that property in Barbados is owned by the rich and famous. Although this is still the case, over the years the market has spread and diversified with prices ranging from $400,000 to $40 million.”
Other examples of interesting new developments on the island include The Sapphire Beach Condominiums and White Sands Villas.
Both are property schemes on the south coast with direct beach access and start at $700,000 for a one bedroom unit.
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