St Kitts Property to Be Boosted by Increase in British, European Buyers
03 June 2011
British buyers are getting back out there and buying overseas property according to agents around the world. Russian, Swedish, Norwegian, and Turkish buyers and those from other countries are also buying more property abroad, having provided sales to many agents when Brits all but disappeared.
Now that British buyers are once again gaining in confidence 2011 and especially 2012 are expected to be years when overseas property sales really firm up, and nowhere is this truer than in St Kitts and other affordable luxury Caribbean markets.
The Tortuga Beach and Spa resort development just opened in Cape Verde and almost every unit in the sold out development was bought by British buyers; many buying as part of self invested pension plans.
This is important because buyers buying into that development were paying over £100k for a luxury apartment in a tropical climate, which is a similar description to those who buy property in St Kitts.
We are currently marketing the Oceans Edge development on St Kitts, which offers luxury beachfront properties from just £220k. Similar properties in Barbados and even Trinidad and Tobago are being sold for between 2 and 4 times that amount.
In a recent survey by Russian overseas property magazine International Residence, the 499 potential buyers said they were looking to spend between 100 and 250 thousand Euros. While their favourite places were Bulgaria, Spain and Turkey, reports have been telling us since the middle of 2009 that more Russian buyers are looking at Caribbean property. Thus, we are expecting continued growth in sales of St Kitts property over the coming months and years.