property There are generally three main reasons why international investors buy a home in Barbados. Knowledgeable investors recognize that Barbados is a leading vacation destination and therefore it is a good choice for investing in a property that they can rent out sufficiently to cover their expenses and possibly generate a profit, while also benefitting from appreciation of its value. Other purchasers acquire a home in preparation for the enjoyment of their retirement. These buyers might aspire to cover some of the mortgage and running expenses by renting out the property part-time but using it themselves the rest of the year. However, the majority of vacation-home buyers in Barbados are looking for a property where they can derive maximum benefit from a secure and enjoyable location, to create lifetime memories for their family or spend quality time with friends. For most people, buying a home in Barbados is undoubtedly a lifestyle decision; with the overriding desire being to enjoy life in an exotic ‘tropical paradise’ without having to relinquish their customary comforts and first class amenities. Perhaps the greatest strength of Barbados is that the country has managed to establish the sophisticated infrastructure of a more developed nation, while retaining the natural beauty and charm of a small island in the Caribbean. The fact that more than two thousand non-residents have purchased properties in Barbados over the last few years, ranging from modest condominiums to fifty million dollar mansions, suggests that Barbados is now the premier luxury, vacation home destination in the Caribbean. It is also worth noting that five of the UK’s largest real estate companies are represented in Barbados, all associated with well-established and highly reputable local agencies who offer excellent professional services including property management, rentals and sales. Barbadians understand that tourism and foreign investment are essential for our economy, so we have developed a culture that embraces visitors to our country. This hospitable environment, along with the secure nature of doing business in Barbados and the many pleasurable advantages of ‘Living the Barbados Dream’, make a compelling case for investing in property on this island.
The Ins & Outs of Barbados
223