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The Brits appear to still be snapping up Barbados property left, right, and centre.

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Article: Barbados is favourite destination for holiday homes
Date: Wednesday, 06 February 2008
Source: www.cbc.bb - The Caribbean Broadcasting Corporation - The Pine, Barbados

Link: http://www.cbc.bb/content/view/14073/46/

Barbados is playing a leading role among Caribbean countries in the second home ownership market.

Managing director of Property Consultancy Services Incorporated, Terry Hanton says in fact Barbados has contributed significantly to this growing worldwide trend.

Mr. Hanton's comments came in an article in KPMG's Business Barbados 2008.

He said the growth of second home ownership was supported by readily available transport to the island and the development of luxury properties and amenities like golf courses and a marina among other infrastructural developments.

According to the consultant, the island's appeal was enhanced recently through its hosting of the golf and cricket world cups in addition to plans by two international brand name hotels to open in the island.[ . . . ]

Sunniebgi

and lets also consider that prices have gone sky high so even a Barbadian can't purchase a house or land, because it's too far out of reach. Much of this is the supply and demand for foriegn investors, and Barbadians deciding they can rent and sell their homes for top dollar to foriegners coming onto the island.

sorry to sound so negative,,,but thats the way it is.

Bajanboy

Sunniebgi:

I have to agree with you in that most houses are out of the reach of bajans. You need to pay upwards of $500,000 for a modest house now, and nicer ones are over $750,000. When converted to pounds, that may sound cheap, but for a Bajan on a good salary, say Bds$12,000 a month, that is expensive, as it means $5000 a month mortgage payments.

It is a more prudent financial decision to rent something for $1500 to $2000 a month, and invest the rest that would have otherwise gone into a mortgage. Plus no need for insurance, land tax, and repairs.

Sunniebgi

Even renting is becoming out of reach for some, unless you want a bare bones stucture..

15years ago we rented a 3 bedroom 2 bath, 2story house in Warrens for 1100.00 a month.. owner was living in Boston.. it had been empty for a year before we got it because he wanted more than that, but came down. We stayed at that rent for 5 years, then purchase our own home. During that time, I heard a guy say.. how he was going to rent his house for 6000.00bbd per month to US and British Embassy people and he knew he could get it.. Likly not an "outstanding" house, but I'm sure good, but at that time I'm sure not worth 6000.00bbd per month. These days, embassy's and expat businesses are renting homes for over 10,000.00bbd per month for their expat staff.

I know a couple who have been renting the same small 3 bedroom upstairs apartment for about 800.00 a month for likely about the last 12 years or so. it's not a bad place, but with his job you would think they could do better.. problem is, most places they would like to live and live in, the rents are well over 2500.00 to 4000.00 a month.. and with a family to support it just isn't happening.

The next problem is.. the lower income people can't afford anything and are yelling at the government to do something about it.. like give them a place to live.. and of course, because they think they have too, the government does.

So what it means is.. No Middle income people get advantage of the govt housing and can't afford anything else.. so you are either Rich.. and can afford a house, or poor and let the govt give you one.

zanne

[QUOTE= It is a more prudent financial decision to rent something for $1500 to $2000 a month, and invest the rest that would have otherwise gone into a mortgage. Plus no need for insurance, land tax, and repairs.[/QUOTE]

I agree with this we have a panoramic view of the south coast from our terrace, 3 bedrooms, 2 full baths, an office and peace and quiet (except for the dogs and frogs) in that price range.

It's just right.

Jack Bowman

Care to explain your view of what "even a Barbadian" can or cannot do?

"Even a Barbadian"?, you said, talking about the land of the Barbadians.

Even a Jew? Does that work for you? "Even a Jew can't" and so forth ...

Have you given much thought recently to reading a lot (in your case an awful lot), and to growiing up?

zanne

Any one here in Barbados knows that there are some pretty wealthy Barbadians here...so generalizing to say that houses are out of reach is a bit silly .

My 6 Bajan sister-in-laws, yes 6, all have houses and land in various parts of Ch.Ch. and St.Michael, one recently bought the Government Row House that she is living in. Now...they each have several children and grandchildren (and a man) that live at home with them , these are the Barbadians that are expecting the Government to give them land and houses. This generation expects a handout at every turn, and as I was discussing with another Ex-Pat yesterday, they must be getting handouts from somewhere because the expectation that they will get something for nothing is persistent.

My husband and I had to tell one of my nieces that we could not give/loan her money the other day, to that end, she is out finding someone who will give her money and no longer speaking to us. In my mind if this generation turned off the Direct TV and did something for themselves, like living on their own, they would be buying land, and building modest houses.

Jack Bowman

Really? I work in a senior position for one of the embassies (or what you would call embassy's). I've found that there is a direct correlation beteeen those who have a correct grasp of aposophes and plurals, on the one hand, and morons on the other.

Thanks for your contribution. It was priceless.

Sunniebgi

A Barbadian is someone who is and always will be a citizen of Barbados... a Jew is someone who follows the Jewish Religon and is not based on where they live or where originally born. There are Barbadian Jews and there are Barbadian Catholics and Barbadian Rastafari but they were all born here.

I don't know who you are or why you feel you have to insult me by what you have said. I'm simply stating that many Barbadians, who live in Barbados, regardless of their religion, cannot afford some of the housing that is being offered because it is out of reach financially for them. Others can and do and will make do with what they can afford.

you have no idea what I read or what I don't read. I respond to what people feel they need by asking questions on this board. If you feel you need to insult people, then get off this board.

so how much does your embassy pay for your fine service and your accommodation?? If you don't like Barbados then get out, we don't need you here.