A Caribbean island often overshadowed by its more famous neighbours could be a hot tip for investment, according to property specialists.
St Lucia, already known for its friendly locals and idyllic scenery, is seeing a new wave of luxury property development, including Sugar Beach, by The Tides.
Currently known as the Jalousie Plantation resort, Sugar Beach is set in 190 acres of rainforest with white sand beaches.
When finished in 2011, the resort will offer 150 villas plus guestrooms with private pools, restaurants, beach lounge and spa.
Quoted by The Times, Marco Bonini, managing director of Caribbean property specialist Prestigious Properties, said: “The Caribbean is still one of the most lucrative areas to buy your investment property or dream holiday home.
“The region is truly a year-round destination, with direct flights from the UK and USA. St Lucia will be key in 2009. Prices are still well below those in Barbados, but the island is now seeing the arrival of true luxury resorts.”
Prices at Sugar Beach start from $700,000 for a one bedroom villa, all the way up to $1.6 million for a two bedroom ‘super deluxe’ villa investment.
Elsewhere homes on more well-known islands like Barbados may also prove a good investment as high-end homes in these areas are not seeing the level of price drops seen elsewhere in the world, according to Property Abroad.
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