Holiday Lettings news - New international airport on St Vincent to further property market

New international airport on St Vincent to further property market

Work has begun on the construction of an international airport on the Caribbean island of St Vincent. The government has promised that it will open as planned in 2011.

Property Wire reports that St Vincent's new airport will cost $178m, and that the government-funded investment in the Caribbean island's infrastructure has led to it being described as an emerging property investment market.

Dave Ames of Harlequin Property said: "Confirmation of the new international airport on St Vincent is the final piece in the jigsaw, in what has been a whirlwind rise to international awareness. Once an isolated chain of islands, St Vincent and the Grenadines are now one of the most talked about emerging markets."

St Vincent is the largest in the chain of 32 islands called St Vincent and the Grenadines. St Vincent's property market has suffered from being overlooked in favour of neighbouring islands such as Barbados and Antigua, according to Property Wire.

The island has experienced a significant change in fortune and is now seen as "prime development land", just 30 minutes by air from Barbados and just 20 minutes from St Lucia.

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