Even in difficult global economic times, property in the Caribbean is unsurprising still sought after: the sun, the sand, and the opportunity are the pick of the Northern Hemisphere any time of year.
The change, however, are the buyer’s of Caribbean property: this time last year it was the British baby-boomers who were flocking to the region whereas now it’s the Canadians.
The Canadian market has been the largest increase in Caribbean real estate purchases this past year, with their desire for a second home being driven by the Canadian Boomers’ desire to re-model their retirement lifestyles. Unsurprisingly – and Australian’s can no doubt appreciate this – they are looking to leave the cold behind and follow the sun.
From Aruba to the Dominican Republic, this year 42% of the Canadian buyers of Jim Walberg of Caribbean Island Realty, our Caribbean luxury real estate partner, have been paying ALL CASH for their real estate purchases, such is their desire to secure their place in the sun.
Here are some interesting statistics:
- 14% of the Canadian population own recreational real estate asset.
- 57% of owners are sole recreational property owners.
- 36% of those who are sole owners purchased their property prior to 1990.
- 59% increase in second home ownership among Canadians since 1990.
- 30% of the total population indicated that they are interested in a recreational property asset.
- 48% prefer to be very close to the beach.
- 46% want retail facilities nearby.
Marquette Turner Luxury Homes is the luxury agency of the Southern Hemisphere with properties for sale in Australia, as well as Tahiti, the Philippines and Vanuatu available very soon. For the Northern Hemisphere contact Caribbean Island Realty for endless sun!