Hartlepool, United Kingdom (PressExposure) March 09, 2009 -- High-end Caribbean property is proving to be insulated from the credit-crunch, according to overseas property portal Property Abroad. Director Les Calvert said:
"High end properties in places like the Bahamas and Barbados are not seeing the same level of price drops as almost all the rest of the world. I put this down to the fact that most people buying high-end properties in the Bahamas are doing so as a lifestyle choice, with any investment concerns on the back-burner. These types of buyers tend not to need finance, thus sales of Bahamas property have remained at the same level -- not spectacular but steady -- and this has prevented sellers of Bahamas properties from having to drop their prices.
To a certain extent all properties in the Bahamas are seeing the same benefit, because there is no such thing as a low-end property for sale in the Bahamas -- at least we have never listed any below Â£200k. Thus because the Bahamas is fuelled by holiday home buyers, again it is usually those who can afford to buy without finance that purchase a holiday home in the Bahamas. Thus sales throughout the spectrum have remained steady, and prices have shown to be holding."
Property Abroad has some excellent property in the Bahamas. Starting from Â£237,500 the off plan Pagoda Beach development in Great Exuma is the epitome of Caribbean luxury. While Bahamas property is predominantly the forte of rich holiday home buyers, off plan properties like Pagoda Beach are undoubtedly capable of generating significant return on investment.
The resort is being built to such high standards, that the properties now being sold for Â£237,500 will almost certainly be worth at least Â£400,000 when completed, based on the fact that similar properties are currently selling for over Â£400k. This gives Pagoda Beach properties significant room for immediate capital gains.
On the high-end holiday rentals market similar properties are currently being let at Â£699 - Â£839 per week (Â£122-Â£140 per night). Based on the fact that 20 week occupation is easily being achieved this gives Pagoda Beach properties the potential to earn around a 6% rental yield.
About Property Abroad
Property Abroad is rapidly growing into one of the best known, trusted and most successful overseas property portals in the U.K. With a slick dynamic site and very reasonable rates Property Abroad currently has among the most extensive worldwide property listings on the net.
For more information contact Les Calvert: firstname.lastname@example.org