In a number of Caribbean nations there is a general sense of optimism in the air, as real estate, tourism and consumer sentiment is gaining traction. Other than the fact we are finally coming out of the Great Recession, what else is leading to this resurgence in consumer confidence? Well look no further north than the United States for the answer; with the economy doing very well in the US, home prices high and a strong stock market, Americans are buying again.
With money to spend and deals to be had in the Caribbean, vacation properties are starting to fly off the shelves once again. Construction has fired up on a number of Caribbean islands, adding new product for the next wave of buyers. Although tourism has been strong for a couple of years now, real consumer confidence does not begin to show until real estate starts to move.
There are of course plenty of buyers from Canada, Europe and elsewhere. The US however really is the driver of most Caribbean real estate sales. Any slow downs in the American economy has a cooling effect throughout the region. In fact, there is likely a ripple effect amongst other countries buying in the Caribbean to the US economy as well. Canada being the most obvious example.
Although we see it happen every day, common sense tells us buying when things are cheaper is smart. Many markets in the region have deals in the market which we may not see again. With a strong US economy, and a weaker Caribbean economy, now is a great time to get your new vacation or investment home.
Talk to us today about financing your new property in the sun. We have a number of options to get you into your new home sooner.