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Investor interest hots up as Caribbean voted top holiday destination this summer
July 4, 2012Article by Ray Withers
Investor interest in Caribbean property is hotting up in line with the tropical temperatures with the news that these idyllic islands have been voted the top holiday destination this summer by British Airways customers.
Beating sunny contenders such as South Africa and perennially popular Florida, the Caribbean emerged as the clear winner with British holidaymakers – not wholly surprising considering that this June was the wettest since records began.
Claire Bentley, British Airways Holidays Managing Director, comments: “The thou ght of relaxing on a stunning beach, in the warm and friendly Caribbean is a real draw as the summer weather continues to be a bit of a let-down.”
As one of the main economic drivers, touristic appeal remains a high priority for many Caribbean nations. The region as a whole saw a positive 3.3% increase in visitor arrivals (23.8 million) in 2011 compared to 2010 according to the Caribbean Tourism Organisation.
Indeed accessibility continues to be paramount to the tourism success of many islands and those, such as the spice island of Grenada, with direct flights to international destinations including the UK, USA and Canada stand a better chance of not only maintaining but increasing visitor levels in the future.
Ray Withers, Chief Executive of Property Frontiers, exclusive agents marketing the new first-time released hotel suites at Bacolet Bay Beach Resort on the island of Grenada, comments,
“It is very encouraging to see that, even despite the global economic downturn, Caribbean tourism levels continue to rise. Grenada alone welcomed 116,398 overnight guests and some 309,000 cruise ship day visitors in 2011 and with the World Travel & Tourism Council predicting the island to be the fastest growing market in the Caribbean between 2011 and 2021, we believe that Grenada is the best place to invest in the region.
“In terms of property investment opportunities, the vastly undersupplied luxury hotel sector remains one of the most attractive options. Hotel occupancy levels across the Caribbean rose to 61.8% in 2011 and RevPAR reached US$103.57, the highest levels reported since 2008 according to STR Global data. However hotel room supply in the region remains limited with only three new properties opening in 2011, increasing room supply by a mere 0.9% whilst demand in the region rose 3.
Addressing this discrepancy, Property Frontiers has just released for the first time, the exclusive new Cinnamon Suites at Bacolet Bay Beach Resort. Located on a secluded 300m long white sandy beach on the southern shores of the tropical island paradise of Grenada, 15 minutes from the international airport, 5* Bacolet Bay is already 50% sold out yet due to rising demand for luxury accommodation on the island, the new spacious Cinnamon Suites which enjoy sea views from one of the highest points on the resort, are now available.
The perfect lifestyle investment, Cinnamon Suites at Bacolet Bay Beach Resort are available 30% below independent valuations from $248,500, with a 3 year rental guarantee from 7.2% pa and 1 months personal usage. Completion and the opening of phase 1 is due in the second half of 2013 and the project will include waterfront restaurant, bars, swimming pool, spa, gymnasium,
pontoon and walkways, tennis courts and a panoramic reception.
Units with the assured 3 year Buy Back are selling fast so contact Property Frontiers today on + 44 (0) 1865 202 700 for more information.