The Expedia group, the world’s largest online travel agency, has reported that travel demand to luxury properties throughout the Caribbean increased by nearly 20% in 2016 over the previous year. The Caribbean’s leading destinations experienced luxury demand growth including the Dominican Republic (15 percent), Puerto Rico (5 percent), Jamaica (nearly 30 percent), Aruba (nearly 20 percent), The Bahamas (10 percent) and Turks and Caicos (35 percent) in 2016.
The Caribbean attracts visitors from all over the world, however the United States represented the largest segment of the market. They are followed by Canada, the United Kingdom, Brazil and France. A new player in the market is Switzerland, who saw a 175% increase year over year. Large increases were also noted in the Netherlands (50%) and Germany (40% growth).
Luxury Real Estate in the Caribbean
Obviously with the large growth in visitors to the Caribbean, there is a demand for more luxury properties; this makes owning and carrying your dream home in the sun more viable. For those who already own properties in countries such as the Bahamas or Turks and Caicos, they already know how much demand their is to rent their high end properties.
Having said that however, just having a dream and the demand to lease your property is not enough. You may need financing for your new vacation property in the Caribbean. We offer financing in a number of Caribbean destinations. Talk to us today about our financing options in the Caribbean, we want to make your dream home a reality!
