Country Guides Country Guide: The Caribbean

Date Published:

29/05/2008

Ask most people to choose their ultimate holiday destination during the British winter, and it's odds-on that the Caribbean will come out the winner. It's got the lot: sunshine, beaches, English language, affordability, and only an eight-hour flight away.

The Property Market

Once upon a time, in the 60s, Barbados was the island to visit- it's still amongst the most popular, but lately St Lucia, where the English cricket team was based during the 2007 cricket world cup, is receiving many plaudits.

Considered one of the region's most attractive islands, its landmark features are the two towering verdant Piton Mountain peaks. Water sports rank highly on the list of must-do's here- scuba, snorkelling, sailing and windsurfing being just a few of dozens of activities on offer. Kierron Dolby of DCG Properties feels the island's leisure opportunities, as well as a strong pound relative to the dollar, make St Lucia an obvious property buyers' choice.

"The lucrative exchange rate of US dollar and Pound Sterling enables British property investors to purchase a luxury property at effectively only half the cost," he says. "The island benefits from many sports facilities including golf, surfing, diving, hiking and sailing. Beyond this, many interested buyers appreciate the fact that they can still enjoy the full beauty of St Lucia, which is not in danger of overdevelopment as land is limited."

Antigua, a near neighbour of St Lucia, was also a key island in the tournament. No less than cricket legend Sir Viv Richards, an ambassador for tourism on his native Antigua, was quick to back the region to pull together and put on a great show for the world to see. "It was a showcase for the islands," he says. "You can't pay enough to receive the kind of coverage the tournament generated. The world was watching and we showed that we can deliver a first-class event and a memorable experience for the thousands of visitors."

Antigua is ready and waiting, having been preparing for several years. The island has been made over, the airport upgraded and several new property developments are in progress. La Perla International Living's 170-unit NonSuch Bay project and a £15m expansion programme at the Sandals Antigua Resort are well underway.

Boutique developments are beginning to make a mark too, such as Elle Antigua, an exclusive resort of only 22 villas and apartments plotted around a five-star boutique hotel.

A man always on the front foot, Sir Viv is also developing the island. His Sporting Icons concept, planned to be rolled out across the region, is an Antiguan estate of only nine luxury villas of which Richards has earmarked one for himself. The kudos of living close to a celebrity doesn't come cheap: the four-bedroom, four-bathroom villas are priced $2m (£1.01m).

The island of Grenada was also a venue for several World Cup games. This was a timely bonus for the island, which has been gaining a lot of publicity lately. "Grenada has emerged as a new hotspot recently," says Geoff McClure, Premier Resort's Caribbean account director. "Prickly Bay Waterside at Lance aux Epines in Grenada (which is led by British developers), is the first major development for 12 years on the island and battled through the government planning requirements."

Property prices at Prickly Bay Waterside start from £256,500. Elsewhere on the island Property Frontiers is selling Bacolet Bay Resort and Spa. Prices at the 5-star developments start from $350,000 (£185,000) for studio suites. The entrepreneur Peter de Savery is also said to be developing locally, having purchased several pieces of land. His recent acquisitions include a site close to the capital St George's.

Trinidad & Tobago, the southernmost Caribbean host island during the tournament, is the region's best performing economy since 2000. GDP growth of 60%- Antigua the next nearest records a little more than 20%, is testament to how much it has developed. Culloden Reef on Tobago is a new 5-star resort that has recently been released. Developed on 148 acres of an old plantation estate, the resort features villas and apartments for sale.

Jamaica (where the first match was played), St Kitts & Nevis, and St Vincent & the Grenadines, are each islands gaining in popularity with British buyers. But Barbados, where the final took place, still takes some beating in many Caribbean aficionado's eyes. The Royal Apartments at the Royal Westmoreland Club are the latest addition to the estate that comprises 36 apartments. Prices start from $495,000 (£255,000) through agents Knight Frank.

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