Carribean Property Market Booming

Published on February 1, 2009   | Print This Post Print This Post

Sales volumes throughout the Carribean Islands have increased by a massive eighteen percent (18%) according to Marquette Turner Luxury Homes’ partner, Jim Walberg (Carribean Islands Realty).

Mr Walberg said, “more than ninety percent (90%) of transactions have involved foreigners in the less than $3 million market (US) throughout the Caribbean. Most homes were purchased using cash and factional ownership was the most predominant buying method”.

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It’s great to hear some positive economic news in what has fast become an extremely negative economic stage.

The way that property is being purchased in the Carribean, with the absence of credit, may give us a clue as to the direction of the broader global Luxury market. It may also signal a significant change in both buyer perception and requirements, with the reduction of waste and excess to maintain quality of life.

Michael Marquette

More information: Marquette Turner Luxury Homes and Caribbean Islands Realty are both on the Board of Regents, the Governing Body of the Who’s Who in Luxury Real Estate

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