ASK THE EXPERTS

IS NOW THE TIME TO BUY IN ANTIGUA?

For almost all of us, 2020 will be remembered as the Covid year which damaged businesses and economies worldwide. The financial fallout is tipped to reach trillions of dollars.

It’s not all doom and gloom however. In many situations, lemonade can be made from lemons and many savvy investors use difficult times to boost their portfolios, buying cheaply and waiting for the inevitable appreciation of these assets.

Antigua’s property market has seen a slow recovery since the global economic downturn of 2008. On the plus side, property prices remain far lower than in many other countries.

One of the main reasons for this is

that many second homes in Antigua are purchased outright with no mortgage, and thus present less of an ongoing financial burden. House prices remained stable in the aftermath of the 2008 crisis and, though the market did slow dramatically, property prices never dropped significantly.

This year we have seen some listing prices slashed by up to 45 percent

The languid market has now been impacted by the coronavirus pandemic and we are currently seeing some owners very keen to divest of property, resulting in some dramatic price reductions.

This is by no means across the board but a tipping point appears to be approaching, providing the market with some very attractive prices and discounts.

This year we have seen some listing prices slashed by up to 45 percent. Most of these bargains are never published online as they are snapped up within days – a plus for both buyers and owners who are happy to get a speedy sale. n

If you would like to know more about our below market value properties email us at info@luxurylocations.com to be added to our regular mailing list.