• St Kitts and Nevis climbs 34 places in Top of the Props chart
• “Unprecedented rise” in demand for Caribbean property
• USA most popular country for fifth month in a row
• Brazil takes biggest share of enquiries in TheMoveChannel.com history
• Top five property destinations: USA, Spain, Brazil, France, Portugal
Photo credit: Erik Jaeger
Demand for St Kitts and Nevis property skyrocketed last month, according to TheMoveChannel.com’s Top of the Props. The tiny island state has traditionally ranked outside of the overseas property portal’s top 40 destinations but buyers flocked there in February, causing the country to join the Top 10 for the very first time.
St Kitts and Nevis received just 1.96 per cent of all enquiries on the site last month, but that share was enough to see it rise an unprecedented 34 places in the chart into eighth, overtaking destinations such as Cyprus and Greece, which both saw interest fall.
But St Kitts and Nevis was not the only country to witness a stratospheric rise in popularity: Jamaica jumped an astonishing 20 places to 13 th in the table, while the Cayman Islands climbed 9 to take 9 th place from Hungary.
At the top of the charts, US real estate continued to dominate demand, accounting for over 1 in 5 enquiries on TheMoveChannel.com. America’s recovering real estate was closely followed by Spanish property, which accounted for over 1 in 7.
Established favourite Brazil made an even stronger bid for the title, receiving 7.7 per cent of enquiries – its highest ever share. That increase was enough to replace Portugal in third place, while buyers continued to focus on other familiar markets such as France (fourth place), Italy (sixth) and Turkey (seventh).
But with two of the Top 10 property markets located in the Caribbean for the first time, the rise of St Kitts and Nevis marks the start of what could become a Caribbean craze.
TheMoveChannel.com Director Dan Johnson comments: “it sounds like an old cliché, but the demand for sun and sand never really goes away. Faced with grey skies and a gloomy economy, house hunters are visibly looking away from the traditional shores of Spain and Portugal and turning to new horizons in search of a sun tan.”
Select Resorts, who manage a resort in St Kitts and Nevis , highlights the growing demand for residency in the country: “The unparalleled rise in demand and popularity is largely due to the country’s economic citizenship by investment program, which is the oldest of its kind in the world. Established in 1984, the program keeps the overall growth of the country in mind. Once accepted, holders of a St Kitts & Nevis passport are able to travel visa free to over 100 countries worldwide and can enjoy many tax benefits. Alongside the citizenship program, the country has been developing an excellent tourist infrastructure which includes luxury five star resort destinations.”
Dan Johnson adds: “While St Kitts and Nevis stole the show, it’s telling that interest increased not just in one country, but in three Caribbean property destinations at once: a sign that the region’s overall appeal is a driving factor.
“Economic stability and high returns remain a major priority for property investors, who increasingly favour Brazil as well as the USA, but lifestyle buyers are also out in full force – and they’re enjoying the beach far away from the Eurozone.”
Notes to Editors
Founded in 1999, TheMoveChannel.com is the leading independent website for international property, with than 400,000 listings in over 100 countries around the world, marketed on behalf of agents, developers and private owners.
The website address is http://www.themovechannel.com/ and the office address is 24 Jack’s Place, Corbet Place, Spitalfields, London, E1 6NN.
Contact Dan Johnson on 0207 952 7650 for further information.