barbados property remains most popular in caribbean according to lettings portal
News Posted On: 04 November 2009
2009-11-04 - UK - Barbados property remains to be the most popular location to buy property in the Caribbean according to new research revealed by Holiday Lettings.
The majority of holiday rental homes currently available in the Caribbean, including Barbados, are being supplied primarily by long term owners, rather than new purchasers, suggesting that fewer investors – particularly those in the buy-to-let sector – are buying property in the Caribbean at this moment in time. This is unsurprising given the recent global economic turmoil.
This is true, lifestyle buyers have kept the market afloat throughout the downturn, when investors were nowhere to be seen. This is starting to change now though, with some investors entering the market because of the poor return on their savings.
From a holidaymaker perspective in these tougher economic times, Holiday Lettings reports that smaller villas - three and four bedrooms - are proving more cost effective and therefore most popular. Locations where this is particularly apparent include Bottom Bay in St Philip Parish, Barbados and Jolly Harbour in Antigua.
“Overall, demand has fallen slightly as a result of the recession and fewer long haul breaks are generally being taken. Bottom Bay in St Philip Parish is the most popular location, but it is also relatively reasonably priced with three bedroom homes available during peak periods for £650p/wk," said Kate Stinchcombe a spokesperson for the portal.
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