World Residential Markets

World Residential Markets
 
Location by Location: North America and the Caribbean

7 September 2015, by Yolande Barnes

The US housing market recovery is well underway while the Caribbean market is attractive for investors.

 

■  The USA’s housing market or, more specifically, its sub-prime mortgage market, was the source of the North Atlantic debt crisis. It is therefore unsurprising that America’s housing markets were perhaps the hardest-hit among developed nations and remained suppressed for longest.

■  US housing market recovery has been underway for the last three years or so but is polarised between the high growth, high-powered first cities like San Francisco and New York and other high-supply, slower recovery and lower demand centres, for example, the Mid-West.

■  The US housing market story is currently of high growth reflecting economic growth which, according to most forecasters, is set to continue; this time driven by cash purchasers rather than high gearing.

■  The US market is primarily a domestic one. The largest US cities enjoy foreign investment into their residential markets, but at lower levels than those seen in other top-tier cities such as London or Singapore.

■  The Caribbean is the northern hemisphere’s playground and, as such, suffered alongside those housing markets. In common with the USA, discounted values in the Caribbean now make it look attractive for both second-home and income investors.

 

 
Regional Economic Statistics and Trend
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Key Contacts

Yolande Barnes

Yolande Barnes

Director
World Research

Savills Margaret Street

+44 (0) 20 7409 8899

 

Paul Tostevin

Paul Tostevin

Associate Director
World Research

Savills Margaret Street

+44 (0) 20 7016 3883

 

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