Warm-ups for the Cricket World Cup are underway and, as such, property in the Caribbean is experiencing some 'warm-ups' of its own. It has recently been reported that due to such high demands for accommodation in Barbados, there is now a shortage of lodgings on the island. High demand, as always, leads to escalating property prices.

Around one million tourists visit Barbados, and there is now a spurt of planned development through to 2010 in order to accommodate all these visitors. The situation is good news for those looking to invest on the island.

Dave Ames, marketing director of Harlequin Property, says, "This shortfall of accommodation has revitalised the market and shrewd investors are aplenty as they can see the significance of investing now in this period of strong growth."

Merricks Hotel and Spa and Residence is due for completion in 2008. It will comprise studios, one and two-bedroom apartments, villas and cabanas. Alongside the properties, spa, restaurants, bars plus beauty and sport facilities are all to be commissioned and built. Prices start at £150,000.
 
Property on the Turks and Caicos Islands is a Caribbean alternative to rental accommodation in Barbados. Amanyara is Amanresort's newest venture. The luxurious and private resort is surrounded by national park and coral reef. For letting purposes, there are 33 villas on offer, each featuring a 1,200 square foot swimming pool. Villas can currently be rented out for £3,000 per night. Such revenue potential doesn't come cheap, though: you can purchase a villa for £4-8 million. 

Not that you have to break the bank to make money in the Caribbean. Paul Percival, a self-employed upholsterer from Caerphilly, recently invested in a two-bedroom cabana in Buccament Bay resort of St Vincent and the Grenadines on the basis that the current market for investment in the Caribbean is promising. "This chain of islands look poised to reap the rewards of the already supremely successful Caribbean property and tourist markets and with the Cricket World Cup about to begin, coupled with the new international airport due for 2011, the Caribbean will automatically receive world news coverage," he commented. Prices at Buccament Bay start at £100,000; properties are available through Harlequin.

Cricket is currently taking centre stage in the Caribbean, but the islands are also a popular retreat for golfers. The Golf Homes Worldwide exhibition is taking place next weekend on 17th and 18th March at the East Sussex National Golf Resort & Spa in Uckfield. Exhibitors include Punta Perla Golf in the Dominican Republic, St Lucia Golf and Country Club, and the Palmyra Resort & Spa in Jamaica.  

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Article first published 8th March 2007