Savills

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The Caribbean - Research Report 2022

Welcome to Savills Caribbean Research report. As you will see the market is vibrant and for the first time since before 2008, we have substantial new projects in development region-wide.

Following the pandemic, people are seeking fresh air, open spaces and, in short, a great lifestyle. The Caribbean climate and the warmth of the Caribbean people have never been more in demand.

We have new golf projects in Barbados, Marina projects in Antigua and numerous branded hotel and residential communities coming to the market in 2023.

With flights returning to pre-pandemic levels, our clients have discovered that working from home can now mean working from anywhere, including a break from European and North American winters, in a region where fundamentals such as excellent digital infrastructure, education and healthcare are well-established.

Many islands, have indeed created special visas enabling our owners and long term rental clients to stay as long as they like and enjoy everything this dynamic region has to offer.

We have also provided unprecedented levels of Development Consultancy in the Caribbean and from 2023 onwards you will see some of the world’s top brands such as One and Only, Rosewood and Four seasons all with new Caribbean projects.

We have seen record sales years over the last three years and expect demand to continue. We are especially excited to strengthen our network with partnerships on the eastern seaboard of the USA with Corcoran and a partnership with Harvey Kalles in Toronto.

If you are an investor, developer or looking for your dream Caribbean home at Savills we have the best network to help you find your perfect island in the sun.

Caribbean prime residential market

Since the lifting of travel restrictions, international buyers have returned to the region in large numbers with branded residences proving popular.

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The Bahamas

The Bahamas prime residential market made a strong recovery in 2021 following the global pandemic, and prices rose as demand outweighed supply.

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Cayman Islands

The Cayman Islands property market performed well over the previous three years and is forecast to continue to see growth into 2023.

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Turks and Caicos

An undersupplied market, the Turks and Caicos prime residential market has experienced increases price growth of more than 10% since 2019, in spite of the global pandemic. 

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Barbados

Location is key to prime residential prices in Barbados. Prime property is concentrated on the west coast, favoured areas for their beaches and access to amenities.

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Antigua and Barbuda

A competitively priced prime residential market, average prime prices stand at $800 per square foot. 

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Grenada

Grenada’s prime residential market is largely domestic and has performed steadily in the last three years.

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St Vincent and the Grenadines

Supply and demand is, at present, balanced in St Vincent and the Grenadines.

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St Lucia

St Lucia saw a surge of activity when Covid-19 travel restrictions eased.

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Market outlook

What are the overarching trends driving the Caribbean region forward?

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