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 Barbados Real Estate?
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.
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.
Some of the most sought after Barbados real estate are beachfront properties located on the West and South coast. Here is a look at some real estate in what can only be described as paradise...
St. Peter’s Bay is located on a truly superb piece of beachfront land. The beach at St. Peters Bay is indeed picture perfect having been reproduced on numerous postcards over the years.
The St. Peters Bay development provides the property seeker with an opportunity to own a piece of Barbados real estate on one of the finest beaches in Barbados.
St. Peter's Bay... your own
piece of paradise
Coral Cove is a new beachfront condominium development located in Paynes Bay on Barbados platinum coast. The gorgeous Paynes Bay beach has been recognized as one of the best beaches in Barbados, some say in the Caribbean.
The picture below shows the magnificent stretch of this sought after beach where you now have the opportunity to invest.
Coral Cove... beachfront living
The Condominiums At Palm Beach is located on approximately 4.5 acres of prime beachfront real estate on Barbados active South Coast.
This high end development has been design to take full advantage of the peace and quiet of the tranquil environment and the turquoise waters of the Caribbean Sea.
The Condominiums at Palm
Beach...
Royal Westmoreland is luxury residential community built around a highly rated PGA standard golf course design by Robert Trent Jones.
Royal Westmoreland offers the discerning purchaser an opportunity to own a villa or custom home within this prestigious golfing community.
Royal Westmoreland...
breathtaking scenery
Apes Hill Club will offer a residential community of built around a spectacular, world class 18 hole golf course and polo centre. The real estate will be developed to preserve the integrity of the natural surroundings.
The Apes Hill Club is located on 470 acres of some of the most beautiful real estate in Barbados of which only 35% will be developed.
Apes Hill Club... a magical
place of tranquility
Just take a look at this photo... I am sure you'll agree that this add new meaning to the definition of paradise here on earth.