property prices in barbados look set to rise this year
News Posted On: 15 February 2012
According to a report from Knight Frank, demand for property in Barbados has increased since the beginning of the year. Prices on the island fell between 5% and 10% last year, and the average price for a prime property is around $900 a square foot. Experts are attributing this fall to keen sellers being more realistic over pricing.
Buyers have reacted favourably towards these price corrections, and there is only a limited supply of homes. The island is popular amongst high net worth individuals as it is very tax friendly, and the quality of homes on offer tends to be high. These factors are expected to help prices to stabilise and even increase in the most sought-after locations.
Barbados has always been popular with international buyers due to its beautiful beaches, laid-back lifestyle and well-established resorts. The island also receives 20 international flights a day, with two being from the UK. The majority of prime property on the island is purchased by nationals from the UK, the US, Ireland, France and Canada, with most looking for a long-term investment and a second home. Some even choose to make
Barbados their main residence due to its favourable tax conditions. The most popular properties are those in excellent condition which are ready to move into. Most buyers don't want to purchase properties which need renovations, and a few buy land to self-build, or buy off plan. Not surprisingly the most popular properties are beachfront or golf properties which not only offer an excellent lifestyle but also good rental opportunities.
View property for sale in Barbados
Written by Les Calvert
Back to news articles for this country
Latest Related News Articles in Barbados
Property Prices in Barbados Look Set to Rise This Year
2012-02-15
According to a report from Knight Frank, demand for property in Barbados has increased since the beg.....
Barbados Property Selling at a Discount
2011-10-18
Reports from Barbados tell of owners reducing their prices by up to and over 10% in order to sell be.....
Rising Interest in Barbados Property
2009-04-24
Interest in Barbados properties starts off again as overseas property portals report renewed interes.....
Bargain Barbados Properties from Property Abroad
2009-04-24
Properties on the Caribbean island of Barbados are being offered for an amazing £180,000 with views .....
Barbados a good location for those buying property
2009-04-07
Investors who are planning on buying property abroad might wish to consider purchasing a home in Bar.....
Property abroad in Barbados could provide good rental yields
2009-03-20
Overseas investors who buy property in Barbados could benefit from outstanding rental yields, it has.....
Barbados has strong repeat business
2009-02-23
The tourist sector in Barbados has not been hit as strongly as other countries by the economic downt.....
Investors advised to consider Barbados
2009-02-03
Real estate in Barbados could be a lucrative purchase for overseas property investors looking for ho.....
Barbados will weather the global economic downturn
2009-01-19
Prospective buyers of overseas property in Barbados might be encouraged to learn that prime minister.....
Government official is optimistic about Barbados tourism industry
2008-11-17
A top government official in the country has indicated that there are good signs for the tourism sec.....