Barbados Property News Dec Jan 2017

EE NE FR NLI O &

For Sale - Caribbee Beach Hotel - Page 10

Caribbean Island Properties - Page 19

Island Villas - Page 33

Endorsed by the Barbados Estate Agents and Valuers Association Inc.

BARBADOS PROPERTY

NEWS www.barbadospropertynews.com • December - January 2017 • Issue 108

Saint Peter’s Bay - Page 29

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PROPERTY LISTINGS 1

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Oriana, Sandy Lane, St. James Oriana is distinctively dist inct ively ly Colonial; large, spacious and br breath-taking. A 14,500 sq. fft.t. 5 bed, 7 bat bathh home on an acr acree of land ooverlooking the 3rd hole of he Sandy Lane Old Nine golf course. tthe US $9,000,000.00

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Serenity, Ser enity y, Lan Lancaster ncaster Ridg Ridge, St. James This super luxurious villa on tthe he ridge with magnificent views to tthe he Caribbean Sea. 6 bed, 6.5 bat bath, th, h, 13,500 sq. fft. on an acre of land wit withh infinity edge pool & swim sw up bar bar. Also available for holi rrental. holiday ental. US $15,000,0 $15,000,000.00.

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Casablanca, Casab blanca, Sandy Lane, La St. James

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Ca’Limbo, Ca’Limb o, Sandy andy Lan Lane, ane St. James

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Exquisite villa lla wit withh stunning views of tthe fairway on Sandy Lane Golf Course. 5 bed, 55.55 bat bbath thh in tthe he m main house, 2 bed, 2 bath guest cottage and tennis cou ccourt our t 7,900 sq sq. ft. on 1.88 acre.

US $5,950,000.00 00.00 00 This int intriguing riguing and invit inviting ing villa has 4 bedrooms in the main house and a 2 bed cottage wit withh its own plun plunge pool, 6,348 sq. ft. home on 38,210 sq. fft.t. off beaut beautifully tifully ifully landsca landscaped gardens.

US $3,950,000.00

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Miramar, Mi Miramar r, Sandy SSa andy d Lane, L St. St James J

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Fairways, Fairw way ys, Sandy Sa Lane, St. James

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A pr prestigious estt igious 5 bed, 5 bat bathh villa, 5,557 sq. fft.t. nestled in ttropical landscaped gardens on 1.5 acr acree elevated br breezy eezy site and uninterrupted unin Sandy Lane CCountry Count r y Club golf views ews to the t he east.

US $4,950,000.00 $4,950,00 $ An elegant 5 bed, 5 bat bathh villa, 10,500 sq. fft.t. on an acr acree of beaut t iful lush garden denns n ov erlooking the t he Sandy Lane golf gr eens. beautiful gardens overlooking greens.

Large deck, gr great eat for or entertaining enter ent nter taining wit with thh gazebo ov overlooking erlooking pool.

US $6,795,000.00 00.00

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Call now! w!

246.832.4604 4604 6

info@luxecaribbeanpr oper ties.com info@luxecaribbeanproperties.com .com m www.luxecaribbeanproperties.com www w.luxecaribbeanpr oper ties.com

Editor’s Comments As a Nation, we are now officially Fifty and what a celebration it was! It was terrific to see HRH Prince Harry here for the pomp and ceremony.

This little island has much to be thankful for and we who live here know just how lucky we are. Despite the heavy rains the day before, the show went on and now we are starting a new era, building on the last 50 years and growing bigger and better.

This edition of BPN is bursting with property for sale and for rent. Read Kim Goddard’s finance article on what is Pamela Hiles, Editor working for them at Royal West Moreland and take a look at the Christmas Gift guide for some superb ideas.

Barbados is a very busy and social place at this time of year. Take time out to enjoy the festivities, the lovely weather and lovely beaches. I hope you all have a great season and wish you all the very best for 2017.

Publisher – Hiltop Publications Ltd, 11 Cottage Ridge, St George, Barbados, BB19071 Tel (246) 228-9122, Fax (246) 228-0243 Email: sportingb@caribsurf.com www.sportingbarbados.com www.barbadospropertynews.com www.caribbeanpropertymag.com www.caribbeanmortgageservices.com Editor/Advertising – Pamela L Hiles Design and Art Direction – 809 Distribution – Hiltop Publications Ltd, Brian’s Print Brokerage Printing – Coles Printery The Material and editorial contained in this publication have been deemed accurate at the time of going to print. The views expressed as editorial are those of the Editor unless stated otherwise. No part of this publication may be reproduced without the consent of the permission of Hiltop Publications Ltd.

On the Cover: Saint Peter’s Bay

If you would like to advertise in Barbados Property News call Pam at 228-9122 or 232-0692

The Golf Cottages at Royal Westmoreland Royal Westmoreland has long been known for its fantastic golf, vibrant resort community and exclusive lifestyle. There are over 230 properties on resort and 70%, about 160 homes, are in some sort of short term rental offering. Royal Westmoreland boasts a very successful history of short term rentals over the past 21 years.

With this many visiting clients on resort and the reputation of delivering on the Royal Westmoreland lifestyle, property sales have been strong over the past few years. In our property sales conversations we have heard time and time again that the visiting clients would love to control their experience a bit more than they can with renting but full ownership is just not justified in their lifestyle at this point in time. We launched the very successful four bedroom detached luxury villas, the Royal Palm Villas, as fractional ownership 2 years ago and are now just finishing the fourth villa in this offering with very strong sales. These villas are garden view with large covered verandas, 41’ private swimming pools, outdoor showers, Bar B Ques and four bedroom, four and a half bathrooms with floor to ceiling sliding glass doors from two master suites and the large open plan kitchen and living room. The four bedroom fractional villa has offered many repeat rental guests a chance to be a social club member with preferred greens fee rates; to experience the joy of ownership in Barbados at Royal Westmoreland while paying running costs for the time they currently need; and yet capturing the opportunity to trade in their fractional ownership against a full ownership residence as their time justifies. All in all it has given many repeat rental guests a better way to holiday and enjoy the health and emotional benefits of having their home in the sun secured for them and their family.

That said many clients could not justify a 4 bedroom villa as they liked to travel as a couple, with one other couple for part of the time they are abroad, or only one adult child can get away at a time. A four bedroom villa was just too large. We also had many committed golfers that have said if they were to own, it would be to have full golf membership as part of the experience, without additional greens fees. This market need has helped us create our newest ownership opportunity, the Golf Cottages. We have designed 6 two bedroom cottages situated around a beautiful community swimming pool. Located on the 12th green they offer golf views down the 3 par hole with Southerly facing sea views. They boast two bedrooms, two on suite bathrooms, kitchen/laundry, large private verandas with golf and sea views, a built in Bar-B-Que and outdoor dining and lounge area. They are sold in two week blocks of time with full golf membership built into the annual fees. Now having a bolt hole at Royal Westmoreland with no down side is simple, easy and accessible.

Every benefit of ownership is enjoyed, a better alternative to renting, and when time allows the luxury to trade into a larger fractional or a full ownership home is one step closer.

We get our best ideas from our clients and this one has already shown we have hit a sweet spot in today’s second home market.

Please come and tour our resort to learn more.

GOLF • BEACH • LIFESTYLE ̣​̣​̣​̣​̣

Experience the unrivalled Barbados lifestyle

Own your O wn y our Barbados Barbados lifestyle lifestyle iin n a luxury luxury villa villa or or golf golf cottage cottage £43,000 from £43,000 Ownership from Weeks Ownership 2 Weeks living WDU living VWDU of 5 V lifetime of A lifetime ncluded p iincluded embershiip membersh olf m Golf G

Royal Westmoreland, ames, B Barbados, arbados, W W.I. .I. R oyal W estmoreland, St. St. JJames, +1 tt.. + 1 (246) (246) 422 422 4653 4653

www.royalwestmoreland.com w ww.royalwestmoreland.com

Christmas Marketplace 16in Fabric Angel Tree Topper BDS VAT Inc: $156.50 From Archer’s Hall

Glass Beaded Wall Art-$149.95 The perfect wow piece to add to any space for some extra style.

From Ashley Furniture Homestore

6-Qt. Stainless Steel Oval Crock Pot Slow Cooker 650023: $168.95 High, low and convenient warm settings. Removable stoneware also doubles as a serving piece. Lidmounted locking system for portability. Gasket lid keeps unit sealed. Dishwasher safe stoneware and lid.

Recipes included. From Do It Best

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Lantern Natural Wood/Chrome 54/41 Large - # 700030572 - $135.95 Small - # 700030571 - $87.21 From Carter’s

Ribbon Clock - $119.95 This funky copper wall clock will keep you in trend and on time. From Dwellings

Lotus leaf lotion – Luxurious hand and body lotion, a great gift idea $75.00. From Gajah

Bebe Candelabra - BDS VAT Inc: $907.92. From Archer’s Hall

Blue Spiral Table lamp $ 229.95 From Walker’s World

Mirrored Tray Assortment-$79.95 These mirrored trays are stylish and functional. The perfect gift for your friend or yourself From Ashley Furniture Homestore 39

Christmas Marketplace Recycled Glass Vases Bottle Guan Diamond Large - # 700030457 - $78.70 Small - # 700030456 - $71.49 From Carters

42-Pc Home Tool Set - 301383: $91.95 Includes 10' tape measure, claw hammer, level, linesman, pliers, needle-nose pliers, cable ties, precision screwdrivers, screwdriver bit set and handle, socket set and adaptor, retractable utility knife and blades, adjustable wrench and case. From Do It Best Carved wooden wall plaque – Fine crafted wall art for your home- $ 1,100.00 From Gajah

Guzzini Water Bottles- $99.95 This stylish and functional water bottle keeps you cool and hydrated all day long.

From Dwellings Glass owl ornaments $9.95 each From Walker’s World 40

Elegant Gardenia Classic Toile Ceramic Two-Wick Candle - BDS VAT Inc: $160.03 From Archer’s Hall

Glass Candleholder Tray- $219.95 Add some glitz and glamour to your next dinner party with this stunning centerpiece. From Ashley Furniture Homestore

6' Fold-In-Half Table - 600841: $238.95 Stain resistant and easy to clean. Folds in half for easy transport and storage. Tabletop is made of high-density polyethylene with powder-coated steel frame. White.

72'W X 30'D X 29'H. From Do It Best

Mirror Paulownia Silver 60cm # 700030328 - $289.29 From Carter’s

Chambord 8 Cup Coffee Press $149.95: The perfect gift for coffee lovers. The original coffee press brings out the very best in all coffee types.

From Dwellings

Galvanize Wine Bucket – functionality and style in one great piece- $420.00. From Gajah

Kerala Media Unit From Walker’s World 41

Tenth Anniversary Celebrations and Christmas Drinks at Dwellings

Leslie deCaires, with her two daughters Michelle and Rachel and Ina Bishop

Real Estate News

Luis and Gael Carrillo

There was much to celebrate when Dwellings had their annual Christmas Shopping Evening in November! This impressive home store in Millhouse and Home Complex in Canewood has now reached 10 years in business and huge congratulations go out to Luis and Gael Carrillo and their amazing team.

Consistently they have kept up with the trends and expanded to included a Design Centre and a new Outdoor furniture section. The couple also opened Ashley Home Furnishings a few years ago and Liliplum Children’s Store with two locations at Millhouse and on the South Coast.

Enjoying the evening!

Jan Husbands and Clarence Hiles

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FOR SALE C O T TA G E , S T. G E O R G E

A five bedroom, four bathroom approx. 5,000 sq ft home with an additional self contained granny flat, double garage, storage rooms, office and swimming pool in the highly accessible area of Cottage, St George. The house is fully tiled with porcelain and ceramic tiles, all bathrooms and kitchen have been refurbished, wrought iron throughout and security system. High ceilings and open plan living areas make this lovely property cool and bright. Fully fenced with gardens, the land is approx. 14,000 sq ft. Price $1.8 mil Bdos. For further information call 2320692.

A Christmas Evening at Natz

Real Estate News

Natz held their annual Christmas evening at their store in Warrens - good fun for all!

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FES FESTIVE TIVE FEASTING FEASTING

- Br Bringing ringing inging the the magic maagic gic off Christmas Christmas to your yourr home home -

www.walkersworldbarbados.com st lawrence gap 428.1183 millhouse & home 421.7968 design@walkersworldbarbados.com

Sales Conversations after Brexit

Finance

by Kim Goddard

Long a favored destination for British property buyers, Barbados is feeling the implications to its property market with the sustained devaluation of the pound following the Brexit vote.

The pound had fallen to levels not seen in three decades, with the US Kim Goddard election now over we have seen a small step back up but nothing near previous ‘normal levels’; this is creating a reason not to buy. The question is what do we do about it in our property sales process?

All of us selling in the Barbados real estate market know there has been a very clear correlation between the strength of the pound and sales volumes to British buyers, with a lag of one to two quarters from the pound moving up or down materially. The British represent a significant percentage of oversea property purchasers, even more so on the West coast of the island.

Since Brexit we have seen the Barbados property market offering deep discounts to motivate British buyers. Even with these discounts there is market kickback over the running costs now being 20+% more than they were last year.

That said the UK economy is strong and markets are high. People are making money and the baby boomers, people between the age 52 and 70 years old in 2016, are making money and are positive for the outlook of their

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economy as a whole. The very large baby boomer population is health focused, technologically savvy and prosperous.

Buying a second home in Barbados has always been a mixture of the heart wanting the home and the mind justifying the home. In these time it seems a focus on the heart may help carry the mind over to a purchase decision.

We know that people who take regular holidays are happier, live longer and are healthier. Owning a second home forces the structure of the regular holidays and the creation of the good times memories. This is worth the price.

Royal Westmoreland has taken a twoprong approach to keeping sales levels up with their disproportionate dependence on British buyers. First, to move their business model to Sterling, removing all risk of currency fluctuations. A British buyer now knows exactly what that second home is costing them and the mind can keep justifying the purchase.

Second, by launching a stepping stone opportunity with the 2 and 4 bedroom fractional villas.

Allowing the British buyer to make a smaller lifestyle investment today that the developer will apply to a full ownership home when the time is right. This meets their heart is happy while appeasing the logical mind.

We do expect to see a decrease in the number of British buyers in the short term, which means every sales tour should ensure they bring the emotional elements of buying the second home into the sales process. The need has never been stronger to be creative in helping all of our property purchasers find value emotionally and economically in choosing to invest in the Barbados lifestyle.

New Real Estate company opens

Suzanne Davis

Luxe Caribbean Properties specializes in luxury property sales, long term and holiday rentals, and provides valuation and auctioneering services. The company has an impressive portfolio of luxury beach front villas and exclusive Sandy Lane Estate properties located on the

Platinum Coast of Barbados as well as condominium units and villas at Port St. Charles, Port Ferdinand, St. Peters Bay and The Crane. The gated and golf communities of Apes Hill, Royal Westmorland and Sugar Hill Estates are also well represented by Luxe Caribbean Properties. In addition Luxe Caribbean Properties Inc also specializes in the local market representing land and properties all over Barbados. Their experienced team, led by Suzanne Davis, is well versed to assist you in your real estate needs, providing advice on expatriate relocation, attorneys, mortgage brokers, property management and rentals.

Suzanne is the current President of the Barbados Estate Agents and Valuers Association Inc. and has served on the board in various roles for the past twelve years, including a previous stint as President. Suzanne's experience in the

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Real Estate News

industry has encompassed significant time developing marketing and sales divisions as well as managing the long and short term rental divisions of other industry players. Her personal approach to achieving client satisfaction is renowned throughout the industry and has created great long term relationships with her clients.

Brent Davis is a qualified sales and rental specialist, who studied real estate in Canada, before returning to Barbados to join this family owned company. Brent is a member of the Barbados Estate and Valuers Association and his personable approach is well suited to this industry.

Sandra Sampson is a qualified sales and rental specialist who has completed the Barbados Community College real estate course. Sandra is actively involved in the Barbados Equestrian Association which uniquely positions her to cater to the needs of local and offshore clients.

Tammy Browne is the company's Administration Manager with years of experience in administration and operations with specific emphasis on real estate. Tammy's extensive knowledge of the company's property listings allows her to respond quickly and easily to client requests. Tammy is the warm welcoming voice that greets you when you call Luxe.

With its wide range of professional services, this exciting new company is well poised to meet the needs of its discerning clientele.

The Barbados Estate Agents & Valuers Association News MESSAGE FROM THE OUT GOING PRESIDENT OF BEAVA Suzanne Davis takes a moment to write a few words as out going President of BEAVA Well 5 years after I was asked to serve as President for a second stint, I am finally stepping down and handing over to a wonderful new president and board. I do this with mixed feelings, as I think of the board members, Jeanine our Administrative secretary and the membership as part of my family. The members of the board and I have worked well together and have accomplished much. I am very proud of the continuing education that BEAVA is providing for its membership. The requirement that our members be qualified realestate agents and valuers can only serve to enhance their knowledge and reputation in the industry. I am also proud that discussions between the valuers and realestate agents will lead to a new by-law and a code of conduct and this will be ratified at our AGM on December 9th, 2016. We have also implemented a Real Estate Expo every other year which is very well received. Thanks to CIBC First Caribbean for their continued support with our Expo and Educational program.

Beava will be creating an award in honor of George Ramsay, who was a Past President, Vice President and served the association with distinction over the years. Unfortunately George passed away quite suddenly in July 2016.

I would like to thank my board members, Paul Alleyne Acting Vice President, Treasurer - Sonia Field, Secretary - Alkins Kirton, Pooka Yhap, David Coombes, Muffin Stollmeyer and Curtis Pounder and also Tania Wallace for her invaluable help to the board and of course, Jeanine Jones who is always available to assist anyone and anytime.

I look forward to continuing to serve in my new post as Ex-Officio Officer on the new Board.

Some members of Beava reflect on working with Suzanne: Suzanne has overseen a time of change in the real estate profession. She has transitioned it to a professional model where all new entrants have to be academically or professionally qualified. Similarly with the changes which have taken place for the valuation designation. She has done so with grace, dignity and a forthright resolve to get the job done right. She is owed a debt of gratitude from the members - Terry Hanton Serving as Vice-President and then treasurer of BEAVA over the last 5 years with President Suzanne was a busy period for me. Always with the aim at improving benefits for the membership, President Suzanne worked tirelessly to achieve that objective. As a board member I am pleased to have served with this team to enhance our organization of which you the members can be justifiably proud - Sonia M. Field. Treasurer.

One of Beavas longest serving presidents will go down in the company history as perhaps being our most active president. Under her watchful eye BEAVA introduced the MLS system to Barbados, worked with BCC to create a real estate course, and also created a number of CPD educational modules for its members. She also played a critical role in the transitioning of the company so that Agents and Valuers going forward will govern their own professions under BEAVA via councils. – Paul Alleyne, Acting VicePresident It has been my greatest pleasure to work with Suzanne on the Board of BEAVA. Suzanne has always worked in the best interest of the Real Estate Industry achieving many successes. She always had time for every issue, project, member and meeting. Her dedication is to be admired. Suzanne, Thank you for all you have done to move our association forward. – Pooka Yhap

OUT-GOING BOARD OF BEAVA: Back Row, Alkins Kirton, David Coombes, Suzanne Davis, Curtis Pounder, Paul Alleyne Sitting: Sonia Field, Muffin Stollmeyer, Jeanine Jones, Pooka Yhap

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