Barbados Real Estate... A Sound Caribbean Investment

Barbados real estate is not inexpensive... mainly because the island has long been considered the tourism destination of choice by many celebrities.

This dates back to 1751 when the great George Washington visited Barbados with his elder brother Lawrence who was very ill with tuberculosis.

To this day, the island still have an association with the rich and famous. Many of them have invested in the Barbados villas market and other upscale housing development.

Testament to this association with Barbados can be seen in list of celebrities that winter on the island yearly. These include former British Prime Minister Tony Blair and his family, who often take time out of their busy schedules to vacation on the island. 

And let’s not forget the wedding of the decade when, Tiger Woods got married to his sweetheart on the golf course of the Sandy Lane luxury hotel.

Barbados long association with the celebrity visitor, combined with its warm friendly people, near perfect weather and gorgeous white sandy beaches make the island the preferred Caribbean destination.

And the perfect island paradise for the discerning holiday home purchasers from Europe and North America.

Why Buy Real Estate in Barbados?

Barbados is home to the third oldest parliament in the British Commonwealth, the island’s parliament was established in 1639. With this development came a tradition of social and political stability unmatched anywhere in the develop world.

The social and political stability along with sound infrastructural development has position Barbados real estate as a great investment.

The prices of Real Estate in Barbados continue to rise steadily, with the introduction of a number of upscale community developments on the famous west and south coast. 

These spectacular resort developments on the West coast include the upgraded luxurious Sandy Lane hotel, Schooner bay, Villas On The Beach, The Sands, Royal Westmoreland and Sugar Hill.

On the South coast there are also some high-end developments which include Palm Beach, Maxwell Beach Villas and Ocean One. 

Many of these beachfront properties on the West and South Coast are own by wealthy foreign nationals who have paid a small fortune to purchase them as winter homes or as accommodation investments.

But it isn't only about the beachfront properties you can also get Barbados polo real estate, golf real estate and many other beautiful real estate options.

Buying Barbados Real Estate

Buying Real Estate in Barbados can be a little complicated, mainly because property in Barbados must pass conveyance of title. Here are some guidelines to assist the potential purchaser...

• As purchaser you will be required to utilize the services of an attorney-at-law registered in Barbados to establish title to the property.

• All funds brought in to Barbados must be registered with the Central Bank. This requirement allows for the repatriation of funds if the property is sold.

• The property vendor is required to pay a property transfer tax of 7.5% on the excess value over Bds. $125.000

• Each party in the transaction bears their own legal fees, which are approximately 1.5% to 2% of the purchase price.

• Property owners must pay land tax annually based on the value of the land.

Buying Barbados real estate is seen as a sound investment since the island has never seen a decline in property values and based on the current market situation this trend is expected to continue.

Here are some of the most sought after developments where you can find Barbados real estate for sale. Some are beachfront properties located on the West and South coast. 

But one thing for sure these are magnificent pieces of real estate in what can only be described as paradise...