openPR Logo
Press release

Caribbean Property Prices

05-06-2008 04:41 PM CET | Industry, Real Estate & Construction

Press release from: Global Property Guide

The Caribbean, the playground of the rich and famous, has been getting more affordable. The depreciation of the US dollar against major currencies such as the British pound and the euro, has made Caribbean properties more attractive.

More affordable… but still not cheap! Property prices in more popular and developed islands can easily reach over one million US dollars for a house and lot near the beach.

In its latest survey of Caribbean property prices (March 2008), the Global Property Guide finds that in Bermuda, the average price of a three bedroom house and lot is around US$1.5 million.

In Grand Bahama, Bahamas, a similar property costs around US$1.4 million, according to Global Property Guide figures.

Property prices in highly-developed areas such as Bermuda and Bahamas exceed US$7,000 per sq. m.

Coastal properties in Barbados are also expensive, at around US$6,700 per sq. m. In the British Virgin Islands (BVI), the US Virgin Islands (USVI), real estate prices are around US$5,000 per sq. m. Sint Maarten also has expensive properties at around US$5,300 per sq. m.

Property prices in St. Kitts and Nevis, Puerto Rico, Martinique, St. Lucia and Antigua and Barbuda range from US$3,170 per sq. m. to US$4,500 per sq. m.

The cheapest Caribbean properties are found in Jamaica, Aruba and Dominican Republic, with prices ranging from US$1,300 per sq. m to US$1,500 per sq. m for houses near the beach.

For apartment buyers, Bermuda and Turks and Caicos Islands (TCI) are among the most expensive with prices at around US$5,000 to US$8,000 per sq. m. A two bedroom apartment costs around US$841,000 in Bermuda and US$670,000 in TCI.

Despite these high prices, Caribbean properties are now considerably cheaper than coastal properties in Mediterranean Europe. For instance, apartment prices in Barcelona are around US$10,000 per sq. m., more than twice the price of apartments in Bahamas or Cayman Islands.

Apartments in Jamaica and Aruba are among the least expensive in the Caribbean at around US$1,500 per sq. m. Apartments and condominiums are relatively new features in the Caribbean property market. Most of the properties are new and come complete with amenities.

###

Economics Team:
Prince Christian Cruz, Senior Economist
Phone: (+632) 750 0560
Cell: (+63) 917 735 2228
Email: prince@globalpropertyguide.com

Publisher and Strategist:
Matthew Montagu-Pollock Phone: (+632) 867 4220 Cell: (+63) 917 321 7073
Email: editor@globalpropertyguide.com

Global Property Guide
http://www.globalpropertyguide.com
5F Electra House Building
115-117 Esteban Street
Legaspi Village, Makati City
Philippines 1229
info@globalpropertyguide.com

The Global Property Guide is an on-line property research house. On-line newspapers, magazines, sites, etc wishing to use material from this press release MUST provide a clickable link to www.globalpropertyguide.com Sites and newspapers found not to be providing a link to us will be removed from our press list.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Caribbean Property Prices here

News-ID: 43823 • Views: 953

More Releases from Global Property Guide

Most expensive real estate markets in 2009
No surprise - Monte Carlo is No 1 in the Global Property Guide’s list of World’s Most Expensive Residential Real Estate Markets 2009, more than twice as expensive, at US$45,000 per square metre, as the runner up. [globalpropertyguide.com] Battling for the number 2 position are prime central Moscow and London. Prime central Moscow’s US$20,853 per square metre price tag slightly outpaces core Prime London’s US$20,756 per square metre, though it
World property market slide worsens
As financial markets tumble, the world’s housing markets have continued to slide during the year to end-Q2 2008. Inflation-adjusted house prices fell in 21 out of the 33 countries for which there is up-to-date published data. The Baltics, the US, the UK and Ireland led the global decline during the year to end-Q2 2008, the latest date for which comprehensive global statistics are available. The biggest house price declines
The end of the global house price boom
Weighed down by the credit crunch and high inflation, the global house price boom has ended, according to the latest Global Property Guide survey of house price indicators. Only 13 countries in which dwelling price indices are regularly published saw prices rise during the year to end Q1 2008, while 21 countries saw dwelling prices fall in real terms, i.e., after adjusting for inflation. In most countries
Gloomy days ahead for Asia’s housing markets
Asian property markets, though still relatively unaffected by the credit crunch, will soon be affected by inflation and higher interest rates, warns the Global Property Guide, because of rising food, fuel and other commodity prices. “Higher food, fuel and other commodity prices affect the housing market negatively in several ways,” says Prince Christian Cruz, senior economist at the Global Property Guide. “At the micro level, households may postpone their decision to

All 5 Releases


More Releases for Caribbean

Caribbean Cruises Intelligence Report Offers Growth Prospects
Caribbean cruises are gaining in popularity as many tourists come to the Caribbean islands to enjoy the sunshine, the pristine beaches and a laid back lifestyle. There are many Caribbean cruises to choose from, the major ones being eastern Caribbean cruises, western Caribbean cruises, southern Caribbean cruises and the tropical Caribbean cruises. The most popular ports and places to visit in a Caribbean cruise are Barbados, Grenada, Dominica, Tortola, Aruba,
Jamaica Leads Caribbean Tourism Rebound
London, United Kingdom, 15 August 2011 Jamaica’s role in spearheading the recovery of the Caribbean’s travel and tourism economy is to be acknowledged by World Travel Awards at a VIP ceremony in Montego Bay in October. The awards programme, hailed as the ‘Oscars of the travel industry’ by the global media, noted that Jamaica’s growth in visitor arrivals this year is expected to beat 2010’s impressive five percent rise, and comes despite
Connect with the Caribbean Community, Keep Up with Caribbean Businesses News wit …
Long Island, NY – January 27, 2011 – Times are changing and with that the conventional methods that Caribbean businesses used to rely on, such as the Yellow Pages and word of mouth, are simply not as effective. Consumers have more options available to them now than ever before, and businesses are finding it difficult to reach out to all of them. Caribbean BlueBook bridges that gap by bringing consumers
Condor Tours Offers Panama And Caribbean Cruise
Lawrenceville, GA: Condor Tours and Travel announced its new Surf and Turf Panama Tour and Caribbean Cruise tour package. The special tour and cruise combination gives travelers the chance to explore Panama on land, and enjoy seven nights aboard Royal Caribbean Cruise’s Enchantment of the Seas. As a start and finish point for the cruise, Panama brings its charms as a tourist destination of its own along with the country’s
It’s “Caribbean Calling” with Motorola this DSF
Globalnet, the authorized distributor for Motorola in the UAE announced its special promotions as part of its sponsorship activities during Dubai Shopping Festival. Luxury Cruise packages to the Caribbean, LCD TVs, XBOX consoles feature amongst the countless prizes that can be won during this DSF. This offer entitles each customer to win a prize with a scratch and win coupon upon the purchase of a Motorola phone from Globalnet’s retail
Virtual Assistants Going Strong In The Caribbean
December 27th, 2007 - With the sudden growth of outsourcing to Caribbean countries, Virtual Assistants in the Caribbean are now helping outside businesses achieve the success they seek by taking on mundane office tasks and providing specialized services to their clients. A growing number of businesses, large and small have been utilizing virtual assistants as an alternative to in-house employees. Like an executive assistant, most virtual assistants are the backbone of