Property Market Update

The past two years of worldwide lockdowns aimed to prevent the further spreading of the Covid 19 virus have a ected many di erent industries. ey have caused businesses to scale back on operations and move to hybrid working models in order to survive through the pandemic. For some, mostly small independent businesses the losses su ered were so great that temporary closures eventually turned into permanent closure.

For obvious reasons, the tourism industry has been one of the sectors most a ected. Non-essential travel bans though eventually relaxing as the pandemic was brought under control meant hotels and holiday rental properties were hard hit. And now that things are nally opening up there are new standard measures to be implemented to increase hygiene and promote social distancing which although essential to ensure customer safety do ultimately increase costs to businesses that are already struggling. at being said, great challenges, can also force businesses to adapt and change and think outside the box in order to make them more resistant to further complications and restrictions. Ultimately the tourism industry has turned out to be much more buoyant and resilient than rst expected.

Despite the dip in tourist activity, we have actually seen a very signi cant increase in interest in the Antiguan property market. With a record number of sales to non-nationals in 2020 and 2021 some of which were purchased sight unseen, something unheard of pre-pandemic. And it is not just Antigua seeing this increase, but all across the Caribbean they have been experiencing a sales boom.

Much of this market interest seems to have been generated by the very thing that caused the market to contract signi cantly

Now that the world is beginning to open up there is a new found appreciation for our freedom to travel the world and buyers are more determined than ever to ensure that they have their very own slice of paradise to escape to.

– lockdown. 2020 and much of 2021 felt for many, like lost years, but as the world stood still and people stayed at home, waiting, they had time to think about what they wanted from their lives, and reassess what was most important to them.

Now that the world is beginning to open up there is a new found appreciation for our freedom to travel the world and buyers are more determined than ever to ensure that they have their very own slice of paradise to escape to. With very few sales occurring in 2020 we now nd ourselves with plenty of properties ready to sell and plenty of buyers looking to purchase, which any real estate agent will know, is the perfect storm. Both parties, those wishing to enter the property market and those wishing to leave, are keen to move ahead as quickly as possible. n

It has never been a better time to explore your desire to own a property in the Caribbean. So, for further information, get in touch and let us help you nd the perfect property to suit your needs and budget. Contact us at info@LuxuryLocations.com or see our website at www.LuxuryLocations.com

Despite the dip in tourist activity, we have actually seen a very signi cant increase in interest in the Antiguan property market. With a record number of sales to non-nationals in 2020 and 2021 some of which were purchased sight unseen, something unheard of pre-pandemic.