Flight boost for Caribbean property markets

The real estate industry in the Caribbean has welcomed the start of new airline services from London to several islands as a much needed boost to the region’s property sector.

Like many parts of the world the Caribbean has seen dwindling property sales particularly since US real estate investors have fallen away and many perceive the region as being too pricey.

The new British Airways services begin on 25th of October which will see a twice weekly service from London Gatwick to Punta Cana in the Dominican Republic, an increase in the number of flights to St. Lucia from three a week to five and Barbados will see double figures for weekly flights.

Paolo De Reniz, area commercial manager, said it is positive news for Caribbean property markets with more flights meaning increased access for holiday renters over the winter getaway period.

‘The Caribbean tends to be a popular destination with our leisure customers seeking a relaxing winter break. From October, we will fly 45 times a week to the Caribbean and be servicing 13 destinations in the region, more than any other UK airline,’ he pointed out.

Real estate agency Experience International, who sells property in the Dominican Republic as well as other Caribbean destinations, said it will be a breath of fresh air amidst the more gloomy property news.

‘The Caribbean has always been a desirable location for property hunters seeking their investment in the sun. Over the last few years interest has spread from the likes of the Bahamas to other islands which are more affordable for buyers, without compromising on the quality of property available and the relaxed lifestyle,’ said Steve Worboys, MD of Experience International.

He said it was a myth that property in the Caribbean is very expensive. Two bedroom apartments with sea views can be found for £70,000 with the added appeal of golf and exceptional resort facilities, he explained.

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