Research article

Outlook

 

Regional stability and enduring appeal play crucial parts in the growing interest in tourism, remote working, and second home buyers for the Caribbean. Markets across the region are poised for a prosperous future.


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  1. The Caribbean has maintained its steady tourism and economic growth, with some markets exceeding their pre- pandemic tourist highs. This trend is set to continue, with the tourism market in the region forecast to grow 5.3% per annum between 2024- 2029.
  2. Real estate supply across many markets remains tight, with undersupply causing relative price growth across the region. New development is expected to continue apace which should alleviate this supply pressure in the near future.
  3. Digital and executive nomad visa programmes remain a core part of many markets as a way of boosting rental markets and attracting high income individuals to the island lifestyle. In the short-term, this will likely remain to have a positive impact on the region’s real estate markets.
  4. Access to labour and costs of importing material remain a challenge for new development in the short term. However, increased investment in infrastructure promises new development opportunities for prime real estate in the future.
  5. Climate change remains and acute concern for these island markets, but action is being taken both at a national level and in real estate development. With future proofing environmental impact assessments, local markets will continue to reduce their footprint for the future.
  6. Regional stability and enduring appeal play crucial parts in the growing interest in tourism, remote working, and second home buyers for the Caribbean. Markets across the region are poised for a prosperous future.

 

Read the articles within Savills Caribbean Islands 2024/25 report below

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