Barbados Land and Real Estate Investments
Barbados Land and Real Estate Investments have always been a critical investment sector for Barbados.
An oasis of beauty, comfort, security and style Barbados continues to attract discerning investors looking for the perfect ‘home away from home,’ property and real estate development market.
Barbados is a relatively prosperous Caribbean island with continuing economic growth and a stable currency with an unchanged peg to the US dollar for over 30 years.
The tourism industry is well developed and supported by an enabling legislative framework and a well-educated, productive and trainable workforce.
Sea and air infrastructure are of international standards while the road network is secure. The island boasts island-wide internet services and modern telecommunication systems.
The increasing demand for wellness services has led to a surge of upscale hotels offering spa and recreational health activities and facilities within the country.
Furthermore, with two major hospitals (one public and one private), several polyclinics and private medical centers, laboratories, an excellent fertility center, a hyperbaric chamber as well as a hemodialysis center, Barbados is a leader in Caribbean health service providers.
Barbados’ land area encompasses about 430 square kilometers (23 km wide by 34 km long at the widest points). Part of the Lesser Antilles, the geographical location of the country allows for year-round sunshine and consistent temperature of 75° – 85° F.
The most easterly of the Caribbean islands, Barbados lies just outside the hurricane belt, protecting it from the threat of major storms and hurricanes.
Surrounded by coral reefs and graced with beautiful sandy white beaches and crystal turquoise waters, Barbados boasts some of the most scenic seascapes in the world making it a major vacation destination for tourists hailing from North American, the UK, and Europe.
For information on land zoning in Barbados, permission to build or change the use of existing land, potential investors can contact the Town and Country Planning Department.
While there are no restrictions on property purchasing by non-citizens, financing must come from outside the country and receive permission from the Exchange Control Authority.
There are many types of real estate opportunities to choose from including:
» Apartments, Condominiums, Town Houses, Bungalows, Plantation Homes
» Gated Communities, Luxury Villas and Secluded Mansions
» Long or Short-Term Rental, Timeshares, Fractional Ownership
» Retirement Homes, Guest Houses, Hotel Resorts
» Land for Construction or Commercial Developments
Buying land or property is not the only way to invest in Barbados’ real estate sector! For those who wish to benefit from the booming Barbados real estate industry but without the capital or interest in purchasing land directly, consider investing in Barbados National Bank or Fortress Property Funds:
» BNB Property Funds are provided through the Barbados National Bank. These open-ended funds are based on residential and real estate development shares and are eligible for mutual fund tax benefits up to $17,500.
» Fortress Property Funds are available through Fortress Fund Managers. Fortress Property Funds are close-ended, exchange-traded shares listed on both the Barbados and Trinidad stock exchanges.
Investors are welcome to contact the Barbados Estate Agents and Valuers Association (BEAVA). BEAVA is a nonprofit company (BEAVA Inc.) dedicated to promoting and developing the real estate industry in Barbados.
Over 135 members strong, the association strives to:
» Represent collective interests and concerns to lobby government
» Monitor the industry initiatives
» Provide member training and education
» Host seminars
» Provide an annual Symposium for relevant stakeholders
» Encourage public confidence
» Maintaining industry integrity
For your next property development or “home away from home” consider the timeless beauty of Barbados.
A safe and sound investment, this gem of the Caribbean combines exotic island living, convenience, social and political stability with luxurious elegance, style and comfort.
Visit Totally Barbados Real Estate for your Barbados Property and Investment needs.