Why Invest In Barbados Property?
Barbados is the leading island destination in the Southern Caribbean for British, North American and European tourists. It is known for its well-trained, industrious people, its stable government, a wide range of accommodations and attractions and its fine coral-sand beaches.
Barbados is a mature Caribbean tourism destination. Large-scale tourism development dates back to the late 50s and early 60s. Barbados has what can be described as a mature property market and prices are increasing in the region of 15% per annum.
With 70% loan to value mortgages available the opportunity exists for investors to benefit from a strong return on capital invested.
The tourism product in Barbados is diverse and includes varied accommodation - hotel rooms, villas and guest houses, scores of restaurants and other food and beverage facilities, nature attractions including caves and marine parks, historic sites, festivals, golf courses and a range of other activities.
Good quality new developments and resorts are likely to become extremely popular as it is fair to say that many hotels in Barbados have over the years suffered from a lack of re-investment and require updating.
Barbados Tourism Information
By the end of 2003, the island had hosted over 1 million tourists, of whom 531,211 were stay-over visitors and 559,000 were cruise ship visitors. Accommodation for tourists is targeted to increase from approximately 7,250 rooms in 2003 to approximately 9,500 rooms by 2010.
Over 70% of the country’s foreign exchange is earned by the tourism sector. It was anticipated that by the end of 2003 tourism’s contribution to real Gross Domestic Product (GDP) would have been in the region of 11.8%.
Over 12,000 people are directly employed by tourism, currently (8.5% of total employment). This number is expected to increase to approximately 10.6% of total jobs by 2012.
Buying Property in Barbados
There are no restrictions to owning property in Barbados. Anyone wishing to purchase a holiday or retirement home on Barbados is welcomed, as are overseas investors who may be interested in development projects. As a non-Barbadian, a purchaser must initially get permission from the Central Bank. This is little more than a formality and is arranged by your lawyer.
Location
Barbados, a former British colony and a Commonwealth member is the most easterly of the Caribbean islands and the largest of the Windward Islands. Most of the island is relatively flat, with low, gentle hills in the interior, except for the north-east, which rises up to 340 metres.
Languages spoken in Barbados
The major language in Barbados is English.
Religions of Barbados
Christianity
Barbados Climate
The balmy, tropical climate is cooled by constant sea breezes. The dry season is from December to June; during the so-called wet season (July to November), some brief rain showers are likely. Average sunshine hours per day are 8 to 10 from November to March and 8 to 9 from April to October. Tropical storms and hurricanes may occur between June and November.
Getting to Barbados
There are regular direct flights from all major UK airports to Grantley Adams International Airport.
Barbados Currency
Barbadian Dollar
Barbados is a mature Caribbean tourism destination. Large-scale tourism development dates back to the late 50s and early 60s. Barbados has what can be described as a mature property market and prices are increasing in the region of 15% per annum.
With 70% loan to value mortgages available the opportunity exists for investors to benefit from a strong return on capital invested.
The tourism product in Barbados is diverse and includes varied accommodation - hotel rooms, villas and guest houses, scores of restaurants and other food and beverage facilities, nature attractions including caves and marine parks, historic sites, festivals, golf courses and a range of other activities.
Good quality new developments and resorts are likely to become extremely popular as it is fair to say that many hotels in Barbados have over the years suffered from a lack of re-investment and require updating.
Barbados Tourism Information
By the end of 2003, the island had hosted over 1 million tourists, of whom 531,211 were stay-over visitors and 559,000 were cruise ship visitors. Accommodation for tourists is targeted to increase from approximately 7,250 rooms in 2003 to approximately 9,500 rooms by 2010.
Over 70% of the country’s foreign exchange is earned by the tourism sector. It was anticipated that by the end of 2003 tourism’s contribution to real Gross Domestic Product (GDP) would have been in the region of 11.8%.
Over 12,000 people are directly employed by tourism, currently (8.5% of total employment). This number is expected to increase to approximately 10.6% of total jobs by 2012.
Buying Property in Barbados
There are no restrictions to owning property in Barbados. Anyone wishing to purchase a holiday or retirement home on Barbados is welcomed, as are overseas investors who may be interested in development projects. As a non-Barbadian, a purchaser must initially get permission from the Central Bank. This is little more than a formality and is arranged by your lawyer.
Location
Barbados, a former British colony and a Commonwealth member is the most easterly of the Caribbean islands and the largest of the Windward Islands. Most of the island is relatively flat, with low, gentle hills in the interior, except for the north-east, which rises up to 340 metres.
Languages spoken in Barbados
The major language in Barbados is English.
Religions of Barbados
Christianity
Barbados Climate
The balmy, tropical climate is cooled by constant sea breezes. The dry season is from December to June; during the so-called wet season (July to November), some brief rain showers are likely. Average sunshine hours per day are 8 to 10 from November to March and 8 to 9 from April to October. Tropical storms and hurricanes may occur between June and November.
Getting to Barbados
There are regular direct flights from all major UK airports to Grantley Adams International Airport.
Barbados Currency
Barbadian Dollar
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