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The Magic of the Barbados Property Market

By Peter Apps

Republish: EasyPublish™ Published: 04Jul2009 Word count: 458 Viewed: 107 time(s) Get Free Content For Your Site

Barbados is a jewel in the Caribbean crown, It has had over 40 years independence, since 30th November 1966, and still retains an incredible English influence to this day.

Cricket is the national sport, The Queen of England is still the Head of State and Barbados' areas are called 'parishes' because of the island's religious history under the Church of England.

Barbados is an ideal holiday destination with it's laid-back style and people. The country has a wonderful moderate tropical climate with a wet season during June to Novemember and more dry season between December to May. It has coastlines of beautiful white sand beaches, tax-free shopping, great resorts and restaurants. It also has a lively nightlife with a range of clubs and bars.

As well as being a haven for tourists, it is also a haven for residents and those seeking property in Barbados. Barbados villas, apartments and houses are of a high quality and design and there are numerous luxury residential resorted around Barbados. Properties are popular for many stars from the US and the UK who have bought luxury Barbados villas here and have stayed in the country over many years.

Since 2004, there has been many more properties in Barbados constructed due to high demand and more and more people wanting to live in Barbados from around the world, particularly from the UK and Canada. Barbados holds a high quality perception with property buyers, and this has inevitably attracted new residents and buy-to-let investors to take advantage of the tourist demand.

In Barbados, properties can vary in price and size. Luxury Barbados villas can cost up to £5 million sterling, however a one-bedroom Barbados apartment can cost from as little as £50,000, so there is a wide range to suit potential buyers looking for property for sale in Barbados.

When buying property in Barbados, buyers should consider that the mortage loan is up to 70 per cent of the value of the property, and the costs to buy Barbados property is approximately two percent of the property's value.

Barbados also has a good, solid reputation in the overseas property market, along with a very favourable perception, and properties in Barbados have continued to sell, although it has slowed down somewhat in the current climate. This inevitably means there will also be good value Barbados property for sale, combined with the leverage in making deals when buying properties in Barbados. There has also been reports indicating Barbados property prices are rising from10 to15 percent per year.

Those buying properties in Barbados to let to tourists may be able to yield an average annual rental income of five percent. Investors, should also focus on achieving capital growth with their Barbados property in order to gain a maximum return on investment over time.

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