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Luxury Condominiums are the New 5 Star Hotels in Barbados

The Caribbean has been a prime destination for sunny getaways, and it has increasingly become a hotspot for celebrity vacation homes. Barbados, in particular, has been receiving a lot of attention from tourists and investors, not just because of its famous beach resorts and commendable Barbados 5 Star Hotels, but because of opulent, and tasteful condominiums, villas and apartments available there. In the past, the main income for Barbadians is wholly dependent on the Sugar business. However, this has changed over time. Now, there are numerous organizations that have offered offshore business arena, hence developing the place beyond recognition. The friendly nature of the island locals, political and social stability, and the gorgeous warm climate has made Barbados the ultimate place for people to escape to if they want to rest, relax and enjoy. Generally, real estate in the country is in great demand because the tiny island getaway has the reputation as an ideally attractive place to play, live and work. Despite the recession, it manages to maintain its vibrant economy. Infrastructure is excellent and modern, and different advanced services are available everywhere. These are some of

the reasons why the wealthiest people flock here to invest in property and build their mansions, villas and so on.

Luxury condominiums are now the big thing on the island, and are having a world class development. The amenities, facilities and services are continuously being upgraded and modernized. Some feature excellent fitness centers, securities, housekeeping and other vital services all day. Such features and facilities are sometimes unavailable in hotels. In fact, they are said to exceed even Barbados 5 Star Hotels. Luxury condominiums ensure protection, privacy and access to the beautiful waters of the Caribbean Sea. The demand for their construction and purchase is at an all time high, and is actually still rising. Property investments here have consistently returned 8-10 percent every year for the least twenty years and are now expanding to luxury villas and condominiums.

There are a lot of things to consider before purchasing real estate. There are so many options available depending on the needs of the person and his family. Some basic guidelines for non-Barbadian buyers of luxury condominiums are the following: (1) there are no restrictions on land and property purchase for non-nationals; (2) The Central Bank of Barbados must first give a non-Barbadian buyer permission before he can invest in a property; (3) Buyers must make sure to check the rates with respective Real Estate Agents, and remember that vendors are the ones who are liable for the property transfer tax of the purchase; (4) Non-Barbadians can receive financing through local banks, but there are certain regulations to be applied and observed; (5) If the buyer chooses to bring the entire amount of the property into the island, then this must first be registered with the CBB and; (6) The best way to go about real estate is to employ the services of a reputable real estate agent and an attorney-at-law to hand transactions. It is important to note that legal fees are around 3 percent of the purchase cost. In the end, it is important to research on pertinent information regarding real estate. This way, an interested person can be armed with the knowledge to get the best deal possible. There are numerous and various real estate agents available on the island that provide valuable information on details of the recent and latest trends and deals.

Luxury Condominiums are the New 5 Star Hotels in Barbados

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Luxury Condominiums are the New 5 Star Hotels in Barbados The Caribbean has been a prime destination for sunny getaways, and it has increasingly become a hotspo...

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