According to global property consultant Knight Frank, the Caribbean has become a hot destination for property buyers during the pandemic, drawn by its scenic beauty and favorable tax structures. This influx has spurred a wave of high-end development, elevating the standard of luxury on the islands.
Based on new data by Kate Everett-Allen, head of international residential research at Knight Frank, despite 2 regional wars, rising mortgage rates and inflation, global economies have displayed surprising resilience, with recent inflation figures suggesting a turning point.
Based on Knight Frank's latest Prime Global Cities Index (PGCI), which tracks prices in 46 leading prime markets worldwide, fell by 0.4% in the 12 months to the end of March 2023. This marks a sharp reversal from a peak of 10.1% growth in the fourth quarter of 2021.
According to Turks and Caicos Sotheby's International Realty's Q1 2021 Market Report, the Caribbean island nations' residential real estate market is on track for a swift comeback.