Read the full article by Forbes here
Investment in luxury second-home markets has cooled following a sales run-up during the pandemic years 2020-21. But that’s not to say a lot of folks aren’t still toying with investing in such sunny spots as the Caribbean, Hawaii and Costa Rica.
“The pandemic-related market run experienced in Hawaii’s ultra-luxury real estate sector was logistically unsustainable, by simple measures of supply and demand,” says Matt Beall, CEO of Hawaii Life.
“Everything that could trade, did. We simply ran out of supply. But we certainly haven’t run out of demand. The overall number of ultra-luxury transactions will almost certainly not outpace the [previous year’s] incredible variety . . . But the dry powder on the sidelines isn’t going to sit idle for long.”
While some would-be buyers mull the notion, others are seizing on opportunities to invest during a lull. Here are a few of the places they’re plunking down their money.
The Caribbean
Save for the August-to-October season, when hurricanes roil the region, the Caribbean is close to a year-round kind of destination. And right now, we’re solidly within the December-to-July period when many would-be buyers visit prior to making an investment.
Hotspots like Turks + Caicos and Virgin Gorda are luring more than just celebrities these days. At the former, Grace Bay Resorts is expanding its Private Villa Collection, and next year will open South Bank, featuring the island’s first man-made lagoon.
