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Atoll Tale
Laura Walbert
08/02/2004
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The Abacos and Exumas in the
Bahamas, the British Virgin Islands, Belize and the Grenadines are the most
popular regions for private islands in the Atlantic and Caribbean. Dillard, who
has been brokering islands for 42 years, says their market value fluctuates with
the strength of the economy.
Prices in regions with drug or crime problems also
suffer. For example, Dillard says Jamaica and St. Lucia are currently rebounding
after experiencing some softening in their markets due to crime.
John
Christie, head of H.G. Christie, the largest realty firm in the Bahamas, reports
that the demand for private islands there has been quite strong in recent years.
“After 9/11, it seemed more people wanted their own secure place in the world,”
he says. Also, as an increasing number of private Bahamian islands are
subdivided, the pool of available properties keeps shrinking, making the 70-odd
that remain more valuable.
Undeveloped Caribbean islands tend to sell for at
least double that of Bahamian islands because they are warmer year-round,
Dillard says. Islands located in friendly nations like Belize, with easy access
and physical beauty, command the highest prices.
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