Property Prices Across the Eastern Caribbean Stuck in a Six-Year Slump

Homeowners and investors across the Eastern Caribbean have little to celebrate. Property values in the region have barely moved in more than half a decade, and in many cases they have gone backwards.

From Antigua and Barbuda to Saint Lucia, Dominica, St. Kitts and Nevis, and Saint Vincent and the Grenadines, the story is much the same: flat markets, weak demand, and prices that refuse to climb.

Independent survey company, Caribbean Land Value Research Institute (CLVRI) estimate that most properties in the region have lost around 10% of their value in the past half decade. The decline has not spared any category. Beachfront lands and properties, residential estates, and commercial buildings have all declined, giving losses to people connected with real estate business.

Some analysts believe the worst may still be ahead. Kervin Delaney-Watt of Market Researchers in his statement warns that values across the five island nations could fall by as much as 20% over the next decade.

Part of the problem lies far beyond the Caribbean. Uncertainty in the United States, the United Kingdom, and Europe, along with the ongoing crisis in the Middle East, has made international buyers cautious. Smaller island economies tend to feel these shifts quickly, as their property markets depend heavily on foreign money.

With global growth in doubt and no clear catalyst for recovery, the region's real estate market looks set for a difficult stretch, and sellers may need to adjust their expectations accordingly.