Caribbean property forecast

Mia Mottley’s BLP won all 30 seats in Barbados’s 24 May 2018 election — the most decisive electoral result in the island’s history. The new PM brings a bold economic reform agenda. The Caribbean tourism season closes strongly, the 2018 hurricane season opens on 1 June, and nine-month reconstruction updates across Irma and Maria territories.

The Caribbean closes the books on 2017 — the most catastrophic year in the region’s modern property and investment history. Two Category 5 hurricanes, Irma and Maria, reshaped the regional landscape in September while the unaffected islands delivered their strongest winter season in years. We assess what 2017 meant and what 2018 holds.

Our year-end edition surveys the Caribbean property and investment landscape as 2015 closes: the Paris Agreement sets new climate benchmarks, oil prices collapse toward historic lows, Trinidad & Tobago faces fiscal headwinds, and Caribbean tourism closes out a record year. What does 2016 hold?

COP21 is in session in Paris as the Caribbean watches the climate negotiations with acute urgency. The Federal Reserve is expected to raise interest rates for the first time since 2006 later this month. Oil prices are near multi-year lows, the year-end Caribbean property market closes on a note of resilient optimism.

Oil prices remain near multi-year lows at $45-50 per barrel as Trinidad & Tobago’s austerity programme takes shape, bringing real consequences for the property market. US-Cuba normalisation continues to dominate Caribbean investment thinking. Trinidad Carnival 2015 approaches on February 16-17. Caribbean property markets show diverging trajectories between energy-dependent and tourism-driven economies.