The Caribbean real estate market has been struggling, but certain markets are faring better than others. Looking forward, most prognosticators believe the Caribbean islands to be relatively bullet-proof over the long-term as sun and surf will continue to entice vacationers and second home buyers. In 2008, visitation to the Caribbean dropped 4%; through May of this year, that number escalated to an approximate 12% average decrease reported by 18 member countries of the Caribbean Tourism Organization. However, two countries closest to the U.S. have performed better: the Dominican Republic saw a lower and relatively small 3.7% decline for the first five months, while Jamaica actually saw an increase of 3.2% over the same period.
Jamaica did not experience much of a bubble . . . (read more)