Barbados Property News February March 2016

Terra Caribbean - Page 2

Alleyne Real Estate - Page 16

Property Holdings - Page 62

Endorsed by the Barbados Estate Agents and Valuers Association Inc.

EE NE FR NLI O &

WE THINK IT IS TIME TO.......................See page 7

BARBADOS PROPERTY

NEWS www.barbadospropertynews.com • February - March 2016 • Issue 103

Port Ferdinand - Page 29

Editor’s Comments Welcome to our first edition of Barbados Property News in 2016.

While it is too early to verify, initial reports from people in the business indicate a higher level of activity in the real estate market than this time last year. Tourism figures have certainly improved, and we know from past experience that the real estate market benefits from more visitors on the island. This always boosts the rental market, and from their midst some renters fall in love with the island and buy a second home.

We hope you are one of them, and that you find the home of your dreams in this edition. You can also get an electronic copy and plenty of helpful information on our Pamela Hiles, Editor website www.barbadospropertynews.com This is a special year in our history as it marks 50 years of Independence. It says much for our small nation to have reached this milestone in such a strong position. Yes, there are economic challenges in the modern world, but for political stability, quality of life and a wonderful climate, we have a lot to offer.

Enjoy our beautiful island and Barbados Property News.

Pamela Hiles Editor

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: Port Ferdinand

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

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Congratulations Sir Paul Altman

Real Estate News

The award of Knight Bachelor to realtor Paul Altman in the New Year’s Honour’s List was richly deserved for a successful businessman, who has made a huge contribution across many sectors of Barbados life.

Now Sir Paul, he has been rewarded for a lifetime devoted to building a major real estate business, and supporting a host of charitable and good causes. It would be all too easy to credit his 30 years work within the real estate sector as his CV, but there’s much more to this visionary realtor with a key eye for opportunity. Many people will be aware of his role in virtually all the major developments on the island over the past 20 years, and of course, his vision and drive in establishing Lime Grove. It may be the pinnacle of his success in the industry, but the status that Altman Real Estate holds locally and internationally is just as impressive.

Sir Paul can also look back with considerable pride at his work in various other sectors that are just as praiseworthy. He has always given generously of his time and resources to make Barbados a better place for everyone. He has supported with a

passion several projects close to his heart. His work in restoring the Jewish Synagogue and setting up the Jewish Museum has been incredible. He has made a huge contribution over many years to schemes and projects that protect the island’s heritage. Much of this was done through his involvement with the Barbados National Trust, and his work at the Synagogue in downtown Bridgetown. An important part of our history has now been restored, recorded and protected forever.

A man with exceptional interpersonal skills, he has also promoted and supported good causes that help make young people become better citizens. He has been an enthusiastic stalwart of the Duke of Edinburgh Award Scheme, and he is currently Chairman of the Campus Council at the Cave Hill Campus of the University of the West Indies. Not only has he given 100% commitment to his involvement, but he has shown great passion and enthusiasm in trying to better the lives of the next generation of young people.

They say behind every great man is a woman, and Sir Paul has been fortunate to have three. A man of strong family principles, he has enjoyed the love and support of his wife Rachelle and his daughters Rina and Abigail on this journey, and they have every right to share in his success.

Congratulations Sir Paul Altman.

Sir Paul Altman at Limegrove

40

TTraditional raditional mortgage mo rtgage pprocess rocess

y Bank RBC Royal rrepresentatives epresentatives

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> Up to 2% of your mortgage value in closing costs (attorney's fee, stamp duty) covered by us* > Financing available for first year's property insurance or to assist with the purchase of furniture and appliances > Pre-approved Visa Credit Card up to $6,000 > Expert advice, guidance and tools > Plus, free pre-qualification to house hunt with confidence

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Oran Ltd. - Award Winning Products for Over 50 Years Having been in the window business for over 50 years, Oran Ltd recognizes that a window is more than just a pane of glass to fill an opening. Rather, windows and doors are a major aesthetic feature of your home or building that, when used functionally, can provide practical returns on your investment and enhance your living experience. We design our products in the Caribbean and for the Caribbean with the confidence in knowing that they can stand up to the environmental demands of our climate and the discerning taste of our consumers. Our experienced sales staff can guide you through the choices, and help you arrive at a solution that is the right fit for you.

Over the years we have developed a diverse range of products with added value options that are designed for different applications available on the market. As products have evolved to keep pace with current tastes and trends, older designs have fallen to the wayside with newer sophisticated products rising to take their place.

For a number of years the traditional awning windows represented by Oran’s ‘Golda’ line were a staple in residential building design. However, today this product has lost favour with the market and is being replaced by new and exciting alternatives, such as the “Tilt and Turn Windows.” This European style window can take three different positions with the turn of a stylish lever handle; the window can be position to be closed, tilted inwards, or swung inwards. Furthermore, the use of specially designed hardware allows for oversized vents upwards of five feet wide, providing large expanses of

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unobstructed glass, which is a great feature for contemporary design. These products can also carry a variety of laminated glass infills, which give these products improved resistance against forced entry and adverse weather conditions. Oran Ltd’s ‘Technal-Topaze’ line of windows and doors includes these tilt and turn windows in addition to a complete line of awning, casement, and sliders designed with a European flare for customers focused on design and aesthetics.

As the popularity of sash and casement windows have grown over the years, jalousie windows have declined in use. Despite this drop off, the classic jalousie window design boasts some very real benefits, such as full ventilation, the use of insect screens, privacy and security. Leading the resurgence of the jalousie window, Oran Ltd launched a new generation of jalousie window dubbed the “Security Louvre Window.” Unlike the traditional jalousie windows, the security louvre uses horizontal security bars that hold either a glass or aluminium blade in place with structural silicone providing for added security and replacing burglar bars. This new and improved product provides for a weather stripping that each blade presses against giving a higher degree of weather resistance. With the choice of either four inch or six inch blades the security louvre takes a traditional product to new levels of performance and looks with a modern design.

With a number of choices at hand, consumers face the challenge of finding the right product to fit their budget. In making their choices, consumers should consider two important criteria: performance and aesthetics. Does the product or combination of products protect my home adequately? And do these products bring out beauty of my home? At Oran Ltd we seek to answer those questions and guide our customers along a path that leads to the best product to fit their needs.

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The Villages at Coverley.

Your New Place to Call Home Life is all about making memories and The Villages at Coverley affords residents the opportunity to do just that.

With this in mind we continuously work towards our ultimate goal of providing a lifestyle community like none other. The Villages has surpassed the expectations of virtually everyone who has toured the Development as well as those who currently call The Villages at Coverley their home.

During 2015, several exciting things happened in our town centre including the opening of A Mom’s Best Friend (Daycare Centre) and Rubis Gas Station & Convenience Store. In the latter part of the year the need to replenish the pool of available houses for sale with two of our more popular designs precipitated the opening of our seventh village - Coconut Villas East. We then closed off the year on a high note with the launch of Club Fitness, our new Wellness Facility which is also open to the public. This beautifully appointed gym, inclusive of spa-like locker rooms, is staffed by some of the top certified Fitness Professionals in Barbados, offering individuals the opportunity to reach their optimum health and wellness through education, nutrition and personalized programs.

What’s the next step on this incredible journey? The launch of our supermarket of course! Fresh Market, our signature brand, is slated to open during the second quarter of this year and promises to be a shopping experience which will exceed all expectations.

Each year our calendar grows with new and exciting events for

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everyone’s enjoyment. Our annual 5K Run/Walk event, held each February, supports worthy causes such as the Autism Association, Breast Cancer Association and this year’s beneficiary is The Ark Animal Welfare Society. Christmas in The Villages is another way that we “give back” to our residents as well as the general public when we host this evening of musical entertainment and fun.

Easter, Halloween and Kadooment are also highlighted on our calendar so these, together with our weekly Karaoke and Friday night limes provide lots of choices for everyone.

The next time you are in the neighbourhood why not drop by our offices and schedule a personalised tour. You never know. The Villages at Coverley could become your “new place to call home”! www.villagesatcoverley.net

Homeowner Testimony Christopher Symmonds was delighted to tell us why he chose The Villages at Coverley. “The fact that the community is very structured and organized and it feels as though everyone in the community wants the same thing, I truly like the environment. I really fell in love after the second tour I took, especially when I saw the conversions in Mango, as I had visited Avocado first.”

45

50 Years of Independence

Finance

But Will We Miss the Marketing Opportunity Fifty years of Independence for a small nation is worthy of celebration.

Speaking as someone who made Barbados my home over 20 years ago, I am proud to have made a personal and financial contribution to the country’s welfare. Like many others from overseas, we wouldn’t be here unless we loved the country, the people, the culture, and the lifestyle. We join with everyone in marking this special milestone, as Barbados is surely a better place in 2016 than it was in 1966. This didn’t happen without the contribution of a diverse community, and a plethora of individuals, organizations, business people and overseas investment. Many people have contributed, and they should all enjoy reaching this historic milestone. The celebrations will only be meaningful if everyone embraces and shares the happiness of 50 years of economic growth, political stability and better facilities across a wide range of amenities and services. Together they have contributed to a better quality of life.

Marketing gurus love a major historic celebration. It enables them to ride on the back of a special event or milestone, without having to ‘re-invent the wheel.’ Government has already sparked the 50 Years of Celebration with a gala opening, and the issue of authorizations to use the official logos. However, this barely scratches the marketing surface, and private enterprise will have to step up to the plate if we are to maximise on the marketing opportunity. The possibilities are endless, and everyone can benefit. Hopefully every business and social entity will mark the milestone with a special promotion?

Our economy is driven by the tourism industry, but we have yet to hear if anything special is planned. It has to be special and associated with the Independence celebration to achieve its full marketing potential. This means we do not simply add another initiative on top of others that have helped improve tourism figures in recent times. Well done everyone involved, but let’s go that extra mile and add something special. Get the airlines, hotels and ancillary services involved, and offer something that will attract more visitors and more spend. Offer something

better for the cruise line passengers than the same program they receive on other islands, and if ships are in port on Sunday, open the shops! Broad Street is ‘ghost city’ on Sundays and what a missed opportunity when thousands of cruise ship passengers are in town and looking to spend.

Looking at real estate, finance and associated business a lot could happen. Virtually all the players could offer special packages. Lenders could introduce special mortgage, loan and investment products with real benefits, not just nominal interest rate changes. Insurance companies could do likewise, but the biggest block to buying and selling remains the punitive legal fees. What about the Bar Association coming of age and scrapping their fixed fee scales and creating an open market?

This would be very special and give the real estate market a major boost. Sadly, it won’t happen because the legal fraternity is insular and self-regulatory. The whole legal system is a mess, and if change is to happen it will have to come from Government.

Government could legislate for a more transparent market place, and it would cost them nothing. It could also offer a wide range of concessions across many business sectors to promote home ownership, lower fees, incentives to young buyers, and tax benefits. These products could be promoted under the Independence celebrations.

There are many other possibilities.

What about a free day’s cricket at a Kensington Oval Test match for everyone?

What about free tickets for the supporters of visiting teams all year?

What about free tickets for schoolchildren?

It costs nothing to fill empty seats.

The opportunities in business to celebrate 50 years of Independence are endless, but will we miss the marketing opportunity?

Clarence Hiles is a Mortgage Broker and freelance writer on number of business and sports topics. He is a former banker and the Editor of Caribbean Property Magazine. He can be contacted at: Clarence@caribbeanmortgages.com or by phone at 246 230 9215.

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The Barbados Estate Agents & Valuers Association News Happy New Year and here is to wishing the very best for 2016 to all Barbadians and visitors and in particular those involved in the Real Estate Industry and their clients.

The Barbados Estate Agents and Valuers Association Inc. (BEAVA) starts off the year with its continued educational and training program. Thanks again to CIBC FirstCaribbean for being our sponsor for these very informative seminars. Their commitment to our association is truly appreciated. Our first session for the new year will be on the Topic “The Legal Process� presented by Clarke, Gittens & Farmer.

This session will be of interest to not only Sales Agents but we welcome Administrators, sales assistances, valuers and any person who would wish general knowledge of the legal process of a real estate sale. See the flyer for details:BEAVA is still actively campaigning the Government for legislation for the Real Estate Industry and believe that BEAVA will soon be recognized as the association for Real Estate Agents, Valuers and Property Managers. We also have categories for Associate and Axillary membership.

We encourage all those in the industry or have ties to the industry to join this vibrant and progressive association known as BEAVA. For further information on joining The Barbados Estate Agents and Valuers Association Inc. please see our website:www.beavainc.com

54

President Suzanne Davis

Building A Sustainable Barbados

Tel: 246 433 9097 Email: philip.young@fmc.bb or ecostructurebb@gmail.com

MALTA - Cattlewash, St. Joseph A 3 bedroom, beachfront villa located on Cattlewash Beach. Property also has an additional 1 bedroom cottage. This truly is the perfect spot to experience the cooling Atlantic tradewinds and relaxing pace of life found on the east coast of Barbados.

Lot Size: 26,698 sq. ft. • Asking Price: USD$2.195 million

APES HILL ECO-VILLA - 28 Holders Meadow, Apes Hill, St. James This revolutionary 4 bedroom home has not sacrificed luxury in the pursuit of sustainability. A combination of luxury, quality and sustainablility that sets the standard for eco-luxury in Barbados.

Lot Size: 25,000 sq. ft. • Asking Price: USD$3.3 million

SECRET SPOT For those seeking privacy and nature, this plot of land offers lagoon and ocean views with miles of beautiful, pristine beach close by to stroll on. The perfect place to build an off grid eco-home and enjoy outdoor activities.

Lot Size: 6.71 acres • Asking Price: USD$975,000

APES HILL LOT J49 - Apes Hill, St. James Overlooking the 6th green on the fabulous Apes Hill course, this lot is in the perfect location for building your own custom eco-villa. With its stunning unobstructed views of the west coast, island living truly can be achieved.

Lot Size: 15,120 sq. ft. • Asking Price: USD$395,ooo

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