Barbados Property News Feb/March 2014

EE NE FR NLI O &

Signature Properties - Page 25

Alleyne Real Estate - Page 31

Port St. Charles - Page 39

Endorsed by the Barbados Estate Agents and Valuers Association Inc.

BARBADOS PROPERTY

NEWS www.barbadospropertynews.com • February - March 2014 • Issue 91

Port Ferdinand – Luxury Marina and Residences - Page 27

Loocal cal exp experts erts w worldwide orldwide

www. w.westcoastvillas.com o@westcoastvillas.com info@ fo@westcoastvillas 1.246.432.5050

WESTLAND WESTL AND HEI HEIGHTS GHTS S

CANE E END ND

WESTMORELAND, WESTMOREL AND, S ST. T. JAMES JAMES

E FALLS FALLS VILLA VILL A NO. NO. 1, TH THE S ANDY L ANE G OLF L INKS DRIVE, DRIVE, ST. JAMES LANE GOLF LINKS ST. JAMES SANDY

SUGAR ST.. JAMES JAMES S UGAR HILL, ST.

CARLTON CARL TON RIDGE, RIDGE, ST. ST.. JAMES JAMES

Prime development development of of just just nin ninee rresidences esidences Prime lo cated min utes ffr rom R oyal W Wes estmoreland located minutes from Royal Westmoreland w ith ssea ea vvie iews. SSubstantial, with views. ubstantial, in individually dividually sstyled illas wi w with arge o open pen sspaces, pools, tylled vvillas ith llarge paces, p ools, terraces aand nd quality quality fini shes. terraces finishes.

Centrally Centrally located, located, fur ffurnished, u nished, o open plan ur pen p lan vvilla i l la byy tropical tropical w ith plunge plunge pool pool bordered bordered b with lub House House w wi ga rdens. IIncludes ncludes C Club with ym, ith ggym, gardens. p ool, gazebo gazebo aand nd b ar aass w pool, bar well ell aass 24 hr security. B each acces at The The Beach Beach House.

House.

Beach accesss at security.

colonial lonial sstyled tyled p property roperty o offering ffeering ff IImpressive mpressive co guestt co cottage, gazebo, infinity ssea ea vviews, iews, gues ttage, gaze bo, infini ty pool Community eedge dge p ool aand nd llarge arge tterraces. erraces. C ommunity Club House includes in cludes beach beach access, access, ssecurity, ecurity, C lub H ouse with w ith pool, pool, rrestaurant estaurant aand nd ggym. ym.

Superb house, ouse, wi w with ith o open plan modern pen p lan m odern Superb town town h long w wi with quality finishes, uality fini shes, ssea ea vviews, iews, design ith q design aalong sun de ck aand nd p ool. G ibbs B each iiss min utes deck pool.

Gibbs Beach minutes sun aaway waay aalong long w ith H with Holetown oletown w with ith sshopping hopping and o ther amenities. amenities. other and

Price: B etween US$3,450,000.00 a Price: Between and nd bed, 5 ba bath th US$6,495,000.00. 5 bed,

Price: US$495,000.00 Price: Long term tteerm rental rreental rrate: per month. month. ate: US$2,750.00 per Long Rental al rra e SStarting from ates: tarting fr rates: from Rental per night. ed, 22.5 .5 bbath night. 2 bbed, ath US$250.00 per

Price: Pr ice: US$4,500,000.00 5 bed, bed, 5 bath bath

Price: US$650,000.00 Price: Rental ra rrates: ates: SStarting tarting ffr rom Rental from US$200.00 pe ath ight. 2 bbed, ed, 2 bbath perr n night.

GINGER GINGER L LILY IL LY

FIREFLY FIREFLY

TURTLEBACK T URTLEBACK R RIDGE, IDGE, S ST. T.. JAMES JAMES

GIBBS GIBBS GLADE, GL ADE, S ST. T.. PETER PETER

L Luxurious uxurious aand nd ssubstantial ubstantial co coral ral sstone tone vi vvilla i l la w with ith guest guest co cottage ttage aand nd pool. pool.

P Panoramic anoramic sea sea vie views, views, privacy, privacy, llarge arge o open pen sspaces, paces, lush lush gardens gardens and and close close p proximity roximity tto o b beaches eaches guarantee guarantee the the best best in tropical tropical li living. ving.

L Located ocated in rrenowned enowned G Gibbs ibbs G Glade lade aarea rea tthis his open open p plan lan vvilla i l la o offers ffer ff ers a llarge arge dinin diningg / living li ving rroom, oom, co covered vered tterrace errace p pool, ool, p patio atio aand nd outdoor outdoor dining dining gazebo gazebo aand nd iiss w within ithin a fi five ve minute minute wa walk lk o off G Gibbs ibbs B Beach. each.

Pr Price: ice: US$11,000,000.00 Rental Re ntal rates: rra ates: Starting Starting ffrom frrom US$1,200.00 per per n night. ight. 2 aacres, cres, 7 bed, bed, 7 bbath ath

Price: Price: US$745,000. 2 be bed, d, 2 ba bath th h

FI FIG GT TREE REE HOUSE HOUSE

TOWN TOWN HOUSE HOUSE N NO. O. 88,, TH THE EF FALLS ALLS SANDY S ANDY L LANE ANE ES ESTATE, TATE, S ST. T.. JAMES JAMES

FIREFLY FIREFLY

ATELIER A TELIER

MERLIN MERLIN BAY, BAY, THE THE GARDEN, GARDEN, ST. ST.. JAMES JAMES

CARLTON CARL TON RIDGE, RIDGE, S ST. T.. JJAMES AMES

B Beautifully eautifully furnished ffur urnished w wi with ith co covered vered dinin diningg terrace, terrace, garage garage and and quality quality kki kitchen. itchen. IIdeally deally located located ad adjacent djjacent to to Sa Sandy ndy L Lane ane o offering ffer ff ering b beach each access, access, 24 h hour our ssecurity, ecurity, C Club lub H House ouse w with ith pool, pool, gym, gym, bar, bar, gazebo gazebo aand nd ssun un tterrace. errace.

Delightful Delightful b beach each ffront ront vvi villa illa wi w with ith ssea ea vviews iiews and and llarge arge llagoon-style agoon-style p pool. ool.

SSteps teps ttake ake yyou ou do down wn tto oaq quiet uiet aand nd sstunning tunning b beach. each. Thi Thiss p property roperty rrepresents epresents in incredible credible beach beach ffr front ront va value lue ei either ther ffo for or rrent ent o orr p purchase. urchase.

Stylish aand Stylish nd n newly ewly b built uilt co contemporary ntemporary vvilla i l la on o n rridge idge w with ith dra dramatic matic ssea ea vie vviews iews o over ver aan n impressive im pressive gu gulley. lley. IIncludes ncludes hig high h cei ceilings, lings, infini infinity ty p pool, ool, llarge arge tterraces erraces aand nd li living ving aareas. reas.

Beach Beach aand nd aamenities menities aare re cclose lose b by. y.

Pr Price: ice: US$545,000.00 Re Rental nta all ra rates: rates: SStarting tarting fr ffrom rom US$350.00 per per n night. ight. 3 bbed, ed, 3 bbath ath

Price: Price: US$1,400,000.00 Rental Rental ra rrates: atees: SStarting tarting fr ffrom rom US$350.00 pe perr n night. ight. 3 bbed, ed, 3 bbath ath

Price: Price: US$4,750,000.00 Rental Rental ra rrates: ates: SStarting tarting fr ffrom rom US$1,300.00 pe perr n night. ight. 4 bed, bed,, 3 bbath ath

ROYAL R OYAL WES WESTMORELAND, TMOREL AND, S ST. T. JAMES T. JAMES

Fig T Tree ree H House ouse iiss o one ne o off tthe he finest finest lluxury uxury golf golf vvillas illas aavailable vailable o on n tthe he es estate tate aand nd in includes cludes ssea ea vviews, ie i ws, q quality uality fini finishes, shes, aand nd w wonderful onderful o outdoor utdoor sspaces paces co complete mplete wi w with ith covered covered tterraces, erraces, ssunbathing unbathing patios patios and and an an oversized oversized sw swimming wimmin imming p pool. ool.

Pr Price: ice: US$ 3,950,000.00 Re Rental ntal rra rates: atees: SStarting tarting ffr from rom US$1,200.00 pe perr n night ight 6 be bed, d, 6 ba bath th

HEAVEN HEA AVEN SC SCENT ENT

WES WESTLOOK TLOOK N NO. O. 2

PALM P ALM RIDGE, RIDGE, ROYAL ROYAL WESTMORELAND WESTM MORELAND ST. S T.. JAMES JAMES

An An elegant elegant aand nd w well-maintained ell-maintained lluxury uxury stand stand alone alone ggolf olf vvilla i l la w wi with ith o open pen p plan lan llayout, ayout, hig high h va vaulted ulted cei ceilings, lings, p pool, ool, co covered vered tterrace errace aand nd rresort esort vviews. iews. Th Thee p property roperty iiss aalso lso cclose lose tto o aall ll aamenities menities o on n tthe he W Wes West est C Coast. oast.

Pr Price: ice: US$2,100,000.00 Re Rental ntal ra rrates: ates: SStarting tartiing fr ffrom rom US$450.00 pe perr n night ight 4 bbed, ed, 44.5 .5 bbath ath

MONKEY M ONKEY PUZZLE WESTMORELAND, WESTM TMORELAND, S ST. T.. JJAMES AMES

A luxurious luxurious aand nd sstylish tylish vvilla i l la w wi with ith ssea ea vvie views, iews, large large tterraces erraces aand nd li living ving sspaces, paces, o outdoor utdoor sunbathing sunbathing p patio atio aand nd p pool. ool. L Located ocated wi w within ithin a short short drive drive o off R Royal oyal W Wes Westmoreland estmoreland aand nd tthe he beaches beaches and and amenities amenities of of tthe he W Wes West est Coast.

Coast.

Price: Price: US$5,500,000.

Rental Rental ra rrates: ates: SStarting tarting fr ffrom rom US$2,000 pe perr n night. ight. 1 a acre, cre, 5 bed, bed, 5 bbath ath

Loocal cal exp experts erts w worldwide orldwide

www. w.westcoastvillas.com o@westcoastvillas.com info@ fo@westcoastvillas 1.246.432.5050

THE THE PENTHOUSE PENTHOUSE

T TORTUGA ORTUGA

H HOLDERS OLDERS HOUSE HOUSE

FITTS FITTS VILLAGE, VILL AGE, ST. ST. JAMES JAMES

SUMMERLAND SUMMERL AND VILL VILLAS, AS, PROSPECT, PROSPECT,, S ST. T. JAMES JAMES

TURTLEBACK TURTLEBACK RIDGE, RIDGE, S ST. T.. JAMES. JAMES.

HOLDERS, H OLDERS, S ST. T.. JAMES JAMES

SSet et o on n idyllic idyllic Wes West West Coast Coast b beach each w wi with ith ssuperb uperb i beach iews g, sea sea aand nd b each vviews swimming, sw wimmin fes estyle. A p erfect lifestyle. perfect rrepresenting epresenting a ttrue rue iisland sland lif make most off tthis his p property’s roperty’s ssetting etting tto om ake tthe he m ost o o bvious de velopment p otential. development potential. obvious

penthouse with panoramic ith p anoramic ssea ea Luxurious p enthouse w Luxurious pool, un b bathing athing tterrace, errace, vviews, iews, JJacuzzi acuzzi p ool, ssun nd b each acces co mmunal faci facilities lities aand beach access. s. communal lue ffo or a 2,000 ssq q ft, R epresents ggreat reat va Represents value for uccessful rrental ental hi story. p enthouse w ith a ssuccessful penthouse with history.

with incredible i l la w ith in credible Stunning, private private vvilla Stunning, panoramic ea views views aand nd a llarge arge co covered vered panoramic ssea onto llush ush aand nd ttropical ropical terrace le leading terrace ading onto dge p ool w wi ith ad djjacent gardens, infinity infinity eedge gardens, pool with adjacent guest cottage. cottage. IImmaculate mmaculate tthroughout. hroughout. guest

plantation lantation sstyle l p property roperty b boasting oasting SSignature ignature p tyle he IIsland’s sland’s fin est lo cations w wi ith tthe one off tthe finest locations with he o ne o Lane Green Green M onkey G olf C ourse tto Sa ndy Lane Monkey Golf Course o Sandy ast aand nd ssea ea vviews iews aand nd H olders P olo tthe he E East Holders Polo d wi ith C lub H ouse tto o tthe he W Wes est.

Fie ld w Field with Club House West.

Price: US$4,400,000.00 Price: Rental rra available on on rre rates request. ates available equest.

Rental bed, 11 bath bath 11 bed,

Pr ice: US$850,000.00 Price: L ong te tterm erm re rrental ental rra ate te: US$4,000.00 pe onth.

Long rate: perr m month.

Re ntal ra rrates: ates: SStarting rom Rental from tarting ffr perr n night. bed, bath US$325 pe ight. 3 be d, 3 ba th

Price: A vailable on on rre Available request. equest.

Price: A l so a vailable fo ffor or lo ng tte erm rrental.

Also available long term ental.

5 be d, 5 ba th bed, bath

Pr ice: A Ava rrequest.

Available vailable oon n re equest.

Price: 5a crres, 7 be d, 7 bath bath h acres, bed, D etailss oon na djacent 3 a crre p Details adjacent acre plot available lot a vailable oon n request. request.

ST. ST. JAMES JAMES GATE GATE (THE (THE M MOORINGS) OORINGS)

PANDANUS P ANDANUS

CAPRICE CAPRICE

SANDY S ANDY VIE VIEW W

WIND WINDEMERE EMERE VILL VILLA A

M MULLINS ULLINS R RIDGE, IDGE, S ST. T.. PETER PETER

OLD OLD TREES TREES NO. NO. 4, PAYNES PA P AYNES B AY BAY, AY, ST. ST. JAMES JAMES

TH THE E PENTHOUSE PENTHOUSE AT AT WHITE WHITE SANDS, SANDS, ST. ST.. PETER PETER

CRANE CRANE BAY, BAY, ST. ST.. PHILIP PHILIP

P Palatial alatial estate estate o offering ffer ff ering m main ain vvilla illa aand nd ttwo wo p private rivate gues guestt co cottages. ttages. R Ridge idge ffront ront lo location cation offers o ffer ff ers b breathtaking reathtakiing ssea ea vviews, iews, llarge arge in indoor door and and outdoor outdoor en entertaining tertaining areas, areas, infini infinity ty edge edge p pool, ool, sunbathing sunbathing patio patio and and gaze gazebo. bo.

Large Large ground ground floor floor lluxury uxury b beach each ffront ront apartment apartment with w wiith m marble arble floors floors aand nd bathrooms, bathrooms, hig high h ttray raay cei ceilings, lings, p private rivate p plunge lunge p pool ool aand nd ext extended ended tterrace. errace.

C Community ommunity aalso lso includes includes m main ain p pool ool aand nd 24 hour hour security. security.

A Attractive ttractive ffully ully ffur furnished urnished aand nd aair ir co conditioned nditioned 1,700 ssq q ft p penthouse enthouse lo locatcated ed just just ya yards rds from from the the beach beach o offering ffer ff ering tthree hree en suite suite b bedrooms, edrooms, hig high h va vaulted ulted cei ceilings lings and and a llarge arge ssea ea facin facingg tterrace errace wi w with ith o outdoor utdoor ffurniture. urniture.

Newly Newly b built uilt lluxury uxury vvilla i l la o offering ffer ff ering aan n id idyllic yllic and and p peaceful eacefful es escape cape ffrom rom tthe he m modern odern w world. orld.

Enjoy En njoy ttropical ropical living living aatt iits ts fin finest est w with ith infini infinity ty edge edge pool, pool, q quality uality fini finishes, shes, aamazing mazing ga gardens, rdens, ultimate ultimate privacy privacy aand nd ssea ea vviews. iews.

Price: Price: US$1,800,000.00 (unfurnished). (u (unfurnished).

Long Long term te term rental rreental rra rate: ate: US$6,000.00 pe per er m month. onth.

Rental Re ental rates: rra ates: Starting Startiing from ffrrom US$850.00 per per n night. ight. 3 bed, bed, 3 bath bath

Pr Price: ice: US$725,000.00 725,000.00 ((f (furnished). furnished).

L Long ong tte term erm re rrental ental al ra rrate: ate: US$3,000.00 pe perr m month. onth.

Re Rental ntal ra rrates: ates: SStarting tarting ffr from rom US$250.00 pe perr n night. ight. 3 bbed, ed, 3 bbath ath

Pr Price: ice: US$11,500,000.00 Rental Re ental rates: rra ates: Starting Startiing from ffrrom US$1,015.00 per per night. night. 44.32 .32 a ac acres, cres, 6 bed, bed, 5.5 5.5 bbath ath

Price: Price: US$2,950,000.00 4 bed, bed, 5 ba bath th

GIBBS GIBBS G GLADE L ADE N NO. O. 16

COSTA COSTA V VISTA ISTA N NO. O. 6

AP APES ES HILL PLOT PLOT II-9 -9

W WHITE HITE S SANDS ANDS G G4 4

G GIBBS IBBS G GLADE, L ADE, S ST. T. PETER PETER

FITTS FIT TS VILL VILLAGE, AGE, S ST. T.. JJAMES AMES

APES APES HILL, ST. ST. T. JAMES JAMES

SPEIGHTSTOWN, SPEIGHTSTOWN, ST. ST.. P PETER ETER

A An n imm immaculate aculate vvilla i l la o offering ffer ff ering q quality uality fini finishshes, b beautiful eautiful ttropical ropical ga gardens, rdens, llarge arge co covered vered tterraces erraces and and p pool ool with w wiith ssun un de deck. ck. IIdeal deal rrental ental in investment vestment w within wi ithin a sshort hort wa walk lk o off tthe he unbeatable unbeatable aand nd id idyllic yllic G Gibbs ibbs B Beach. each.

Located Located on on a rridge idge o offering ffer ff ering aan n ex exceptional ceptional roof roof terrace terrace w wi with ith p panoramic anoramic ssea ea vviews ie i ws aand nd communal communal pool. pool. Tastefully T Taasteffully fur ffurnished urnished aand nd fini finished shed tthroughout hroughout wi w with ith aair ir co conditioned nditioned b bedrooms edrooms aand nd a q quality uality kkitchen. itchen.

Elevated Elevated lo lott w wi within ithin ex exceptional ceptional aand nd w world orld class class golf golf resort resort o offering ffer ff ering ggolf olf co course urse aand nd wide wide sea sea vviews. iews. A Apes pes H Hill ill o offers ffer ff ers a championship championship 18 h hole ole golf golf co course, urse, Club Club House House and and b beach each acces accesss aatt P Port ort SSt. t. C Charles. harles.

R Reside eside o on n tthe he W Wes West est C Coast oast jjust ust ssteps teps ffrom rom tthe he b beach. each. G4 o offers ffer ff ers ttwo wo flo floors ors o off q quality uality h holiday oliday h home ome w wi with ith o ocean cean facin facingg tterraces erraces aand nd tthe he hi historic storic vvillage illage o off SSpeightstown peightstown w wi with ith restaurants restaurants iiss jjust ust a ffe few ew min minutes utes wa walk lk aaway. waay.

Price: Price: US$995,000.00 4 bed, bed, 4 bath bath

Pr Price: ice: US$495,000.00 2 be bed, d, 2 bath bath

Price: Price: US$ 650,000. Plot: Plot: 26,000 sq sq ft.

Rental Rental rrates: ates: SStarting tarting ffr from rom US$150 pe perr n night. ight. 2 be bed, d, 1 ba bath th

We Know Barbados Coral Crescent 192, St. Philip

At Terra Caribbean, we specialise in sales,

Excellent residential lot in a desirable area with stunning sea views. Enjoys cool Caribbean breezes year round and is in close proximity to a sheltered lagoon.

Land Area: 14,939 sq. ft. | Sale Price: BDS $325,000

rentals, valuations and property management.

Our Barbdos team of over forty professionals work together across these departments to best assist clients with

Waterhall Polo Field Lot 24, St. James

their real estate needs.

Located in the prestigious Waterhall Polo Estate, this lush lot boasts uninterrupted views of the polo field. Easy acccess to fine dining, high-end shopping and beaches.

Land Area: 19,628 sq. ft. | Sale Price: BDS $600,000

Our group of companies cover every aspect of the Barbados property market, and can provide clients with insight into the best real estate options.

Millennium Heights Lot 43, St. Thomas Attractive residential lot ideally positioned in the modern community of Millennium Heights. Residents have access to on-site tennis, a fitness trail and swimming pools.

Land Area: 24,617 sq. ft. | Sale Price: BDS $650,000 Terra Caribbean (Barbados) Limited Somerley, Worthing, Christ Church BB15009, Barbados

To arrange a viewing or for sales information: Tel: (246) 434-9000 | E-mail: infobb@terracaribbean.com

Anmar, Ch. Ch.

B27320

Frere Pilgrim 138B, Ch. Ch.

V27190

Atlantic Rising, St. Philip

B25929

- 3-bed / 1-bath house - unfurnished - Large kitchen w/ wooden cabinetry Sale Price: BDS $350,000

- 3-bed / 1-bath dwelling - unfurnished - Ceramic tiles, open-plan layout Sale Price: BDS $430,000

- 2-bed / 2-bath apartment - furnished - Vaulted ceilings & lovely ocean views Sale Price: BDS $525,000

Gunsite 21, St. Michael

Foursquare 19, Ch. Ch.

Blue Waters 29, Ch. Ch.

B26580

B26728

B24482

- 3-bed / 2.5-bath townhouse - furnished - Shared pool & ample parking Sale Price: BDS $615,000

- 3-bed / 2-bath townhouse - furnished - On-site pool, golf & tennis courts Sale Price: BDS $795,000

- 3-bed / 2-bath home - unfurnished - (2) breezy patios & spacious rooms Sale Price: BDS $875,000

Rowans Park 185, St. George

Green Hythe, St. George

Ocean View, St. James

B24237

- 6-bed / 3-bath property - appliances only - Includes a self contained apartment Sale Price: BDS $895,000

B20459

- 6-bed / 6.5-bath home - unfurnished - Pool w/ terrace & large guest annex Sale Price: BDS $2,250,000

V25331

- 3-bed / 3-bath townhouse - furnished - Plunge pool & direct beach access Sale Price: BDS $2,800,000

Looking to buy, sell or rent?

We have these and many more properties available, just visit:

www.terracaribbean.com

Editor’s Comments We place a lot of faith in leadership.

Our leaders are entrusted with a huge responsibility that spans our domestic, sporting, and business lives. It impacts on our church and our education and virtually every aspect of life. Nowhere is it more important than in Government and right now the Barbados leadership is under a lot of fire to steady our economic decline and get us back on track on the road to recovery. Everyone has said their bit on the issue of leadership, but the Government remains the Government and now is the time to rally all our resources and help build a better plan for the future. We will have IMF support and with it comes tough decisions so once again our leadership will be in the firing line. Let’s hope they make the right decisions and we can move on with trust and optimism.

After all, the sun still comes up every day in Barbados and it shines down on a beautiful island with lovely people going about their lives in much the same way they have been doing for years. Barbados hasn’t changed and it remains a lovely place to live and enjoy.

We hope you find something that helps you enjoy life in the pages of Barbados Property News.

Best wishes, Pamela Hiles Editor

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

8

On the Cover: Port Ferdinand

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.

B A R B A D O S

Own a piece of paradise

Award Winning Luxury Villas $1.2 to $5m (USD)

Moonshine Ridge N E W

R E D U C E D

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Apes Hill Club, St. James Surrounded by a Wentworth Club championship-calibre golf course, this exclusive development commands sweeping views of the calm Caribbean Sea to the west and the dramatic, Atlantic Ocean to the east. This development of 30 exclusive land lots of varying sizes, is perched on a breathtaking ridge within the prestigious Apes Hill Club. Each prime lot offers plenty of space for a large family home, infinity-edge pool and gated driveway. The majority can also accommodate an optional guest cottage and carport or two-car garage.

Land Area: 22,863 – 38,147 sq. ft.

Price: US $500,000 – US $1,600,000 Specialising in luxury properties for sale and rent in Barbados Contact one of our experienced sales agents:

T: (246) 422 2618 | E: sales@bajanservices.com

EXCLUSIVE COMMUNITIES

Villa Petit Bateau, St. Peter

Bananaquit, St. James

Specifically designed to the highest standard, this illustrious 5-bed, 5-bath villa is located within the award-winning Port St. Charles Marina development. Complimented by a 110-ft. boat berth, this villa offers spectacular sea views.

This elegant, 5-bed, 5-bath residence in the lavish Sugar Hill Resort Community, boasts West Coast horizon views and a quaint 2-bed cottage. It is located in a prime position near Holetown and beach club membership is available.

Sale Price: US $8,950,000

Sale Price: US $4,750,000

LAVISH LAND LOTS

Calijanda Estate Lot 11, St. James

Belair Lot 7, St. Philip

This 34,253 sq.ft. lot set in an intimate community, enjoys distant sea views and is 5 minutes from Holetown. Plans are approved for a 9,000 sq.ft. home.

Minutes from Crane Beach in a tranquil development, this land lot iof 8,141 sq.ft. is ideal for a holiday home or permanent residence.

Sale Price: US $550,000

Sale Price: US $95,000

Our portfolio ranges from expansive villas to modern beachfront residences Newton House, Battaleys, St. Peter BB26094, Barbados W.I.

www.bajanservices.com

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Port St. Charles is many things, but essentially we’re unique.

STANDARD... Where Quality Is A Lifestyle

Good Time to Buy for Overseas Bajans The lure to return to the homeland may not be as attractive as it has been for returning nationals, but setting aside the island’s current economic challenges, there has never been a better time to buy.

Many Barbadians living overseas have a long-term plan to retire to their homeland or to own a piece of the Rock and spend more holidays in the sun before making the final move. It is an understandable dream given the beautiful attributes Barbados has to offer and nobody knows them better than a local. Even in far off lands the lure to return at Christmas or Crop Over is an integral part of an exile’s calling and in the past decade the numbers coming home at peak holiday times have significantly increased.

There’s no place like home and for many Bajans that means their own place in the sun. And it has never been better because global recession has driven property prices down and stopped the spiralling increases that were taking real estate prices outside the reach of most mortals. If the economic meltdown has had any positive spinoff then it has to be the end of rampant house price increases and a return to realistic and affordable prices.

And that includes construction costs as the cost to build has dropped despite the increase in some materials over the last few years. This is because less construction has meant less work and artisans returning to more competitive labour costs than those raging pre-2008. But the million dollar question of whether to build or to buy involves a lot more considerations than cost, and persons trying to manage a building project from an overseas domicile are still taking a massive risk. However, with property prices dropping in recent times the economics of buying versus building makes it debateable whether there is any potential gain

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Finance

unless the land has been gifted.

Overseas Barbadians are still eligible for local mortgages and therein lies the door of opportunity to get a foothold on the property ladder and continue to work and live overseas. Many locals have already taken advantage of lower prices and available mortgage facilities to buy in the past few years and are making more visits home for holidays. And they are bringing plenty of friends as it is amazing how popular people become when they own a place in the sun!

Lenders have different terms and conditions for Barbados nationals living overseas, but it is possible to borrow up to 100% in some circumstances with at least one lender. Living and earning overseas has another major advantage in that the borrower has the option to borrow in either Barbados dollars or in a foreign currency. For example, the Loan-to-Value (LTV) with a US dollar loan may be restricted to 65% and the repayment term may be limited to 15 years, but the interest rate could be as low as 4% compared to 6% to borrow in Barbados dollars where the LTV is much higher and the repayment term much longer.

Inadvertently taking out a loan over a shorter period will save the borrower thousands of dollars, albeit they have to have the income to pay the higher repayments over the shorter period.

And if all this math proves too complicated then go to an experienced Mortgage Broker and let him or her work out all the numbers and give you the right advice to fulfil your dreams.

Times may be tough at present, but opportunities still exist to make prudent financial decisions that will look very smart when the tide turns, as it will some time in the future.

Clarence Hiles is a Caribbean Mortgage Broker and Editor of Caribbean Property Magazine. He can be contacted at clarence@caribbeanmortgages.com

Your Mortgage: Making Smart Choices ‘Man, I’d love to own a piece of the rock someday!’

Like many Barbadians, you’ve probably always dreamed of owning your own home and land. But – also like many Barbadians – you’ve also asked yourself whether it makes sense to make such a huge investment, given the current tough economic times and the rising cost of living.

At Scotiabank, we know how you feel – and we’re here to tell you not only that owning a piece of the rock is possible, but that making smart choices can result in great benefits for you as a homeowner. Making those choices is easier than you think – and here’s how to get started.

Begin By Thinking Long Term A little uncertain about commitment to a mortgage? Buying a home is actually a sound investment, as the financial benefits of home ownership become greater over time. Simply put, the longer you own your home, the more equity you build in it. This increases your personal net worth and strengthens your financial security – and you get to live in your home while that equity grows.

Timing Is Key As property values are not inflated at this time, it’s a great chance for buyers who can afford the investment to choose now to make their move. And that starts with…

Finance

example, by installing solar electricity – or because they need more affordable monthly payments. Your financial picture can change significantly since you first took out your mortgage, so you need to know that you have the choice to change your mortgage to suit your current commitments.’

Additionally, a Mortgage Switch to Scotiabank could help lower your monthly payments, while interest costs can be reduced by prepaying up to 15% of the original amount of your mortgage every year without a penalty when cash flow permits.

Know Your Mortgage Options – And The Financial Benefits When it comes to mortgages, one size should never fit all – and making the smart choice can result in real financial benefits for you over time.

Need to control your costs? Your bank can help. ‘If you need more flexibility with your monthly expenses, you may want to renegotiate a smaller monthly payment and take a longer time to pay,’ Mr. Smith suggests.

And if you’re hoping to finance other ventures, your equity can be a real asset. ‘You also should be aware that the equity you have built in your home can be a valuable source of financing,’ says Mr. Smith. ‘In other words, you may be able to borrow at better rates by using your home as security. The funds can also be used to pay for your child’s education or pay for home renovations to enhance your home’s value even further. You could even consider using the equity in your home to pay off loans and credit cards with higher interest rates.’

Getting Some Good Advice Sound advice from a Scotiabank Mortgage Specialist can really help you in your journey towards home ownership.

For your first step, ‘you’ll need to need to assess your finances to determine whether home ownership is an affordable option for you,’ says Steven Smith, Manager of Scotiabank’s newly renovated flagship branch in Bridgetown. ‘Our Mortgage Specialists can help you determine the down payment and monthly payments you can afford, and we also explain various financing options. We’ll help you understand how a mortgage is structured and look at payment options so you can be confident about the financing package that suits your needs.’

Not quite ready to chat? Log on to barbados.scotiabank.com and check out Scotiabank’s Online Tools, such as the Mortgage Affordability Calculator and the Mortgage Application Checklist.

Tools like these can help you get informed and more comfortable with the process right away.

Seek Out Extra Protection For Peace Of Mind As a mortgage represents a commitment for both you and your dependents, it’s critical to choose one that offers protective options should the unexpected happen.

For instance, Scotiabank’s well-developed mortgage packages also offer optional Credit Life Protection insurance. This means you can be sure that your mortgage will be paid off in the event of your death, and that your family won’t have to make the mortgage payments or liquidate assets to pay off the debt. Your premium is simply added to your mortgage payment, resulting in one easy single monthly instalment, and you can even choose joint or single coverage.

You can also choose to add Critical Illness Protection to your Scotiabank mortgage, which ensures that your outstanding loan balance can be paid in if you are diagnosed with a covered critical illness, such as heart attack, cancer, or stroke.

Consider Refinancing Your Mortgage For Greater Savings Dreaming about home improvements, or simply want to manage your money better? Choosing to switch your mortgage lender might be just the solution for you.

‘Scotiabank’s Mortgage Checkup programme is an opportunity to find out whether there are benefits to switching,’ Mr. Smith points out. ‘Some customers come to us because they need to consolidate debt, upgrade their homes – for

Make The Smart Choice Today The choice to become a homeowner – to claim your ‘piece of the rock’ – can ultimately be one of the smartest choices you’ll ever make. With sound advice, good timing, a thorough investigation of your options, and a clear understanding of your benefits, you’ll be on your way to enjoying all the benefits a great mortgage can offer. Make the smart choice today…Scotiabank is here to help.

Get Get a free free mortgage mortgage check-up check-up and see how how you you could: could: R educ\ yfli dfek_cp gapd\ekj% Reduc\ yfli dfek_cp gapd\ekj% Sa v\ k_fljXe[j `e `ekerejk fm\i k`d\% Sav\ k_fljXe[j `e `ekerejk fm\i k`d\% A [[ c`m`e^ jgac\ fi lg^ra[\ n`k_ X r\eovak`fe A[[ c`m`e^ jgac\ fi lg^ra[\ n`k_ X r\eovak`fe yfl cXe affor[% yfl cXe affor[% Visit yyour our nearest nearest br branch anch toda today. y. barbados barbados.scotiabank.com/checkup .scotiabank k.com/checkup

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Valuation is King in the buying process

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Above: Fort George Heights, St. Michael - Courtesy Caribbean Island Properties see page 19 Having a property professionally valued and surveyed is probably the most important part of the buying process yet many buyers see it as an imposition and an extra cost where a mortgage is involved. Part of their thinking is because lenders commission the Valuation Report, instruct the Valuer and only use Valuers on their preferred panel. Perhaps this seems logical, but it is the applicant who pays the Valuer’s fee, which they see as required by the lender not themselves.

There is often a serious disconnect in how the two parties view the valuation process yet it serves both interests well. After all, why would a buyer not want to know they were paying a fair price for the property with the added bonus of a surveyor looking at its condition and the potential existence of defects not easily detectable by the naked eye? The reason is cost, and although scale fees apply, some mortgage applicants at both ends of the scale feel it is a fee they would like to avoid. This is not so with a lender, as Valuation Reports are usually mandatory. But the good news is there is a solution-lenders could pay for the report!

After all, in the economies of scale and looking at the life of a mortgage and the significant profit a 25-year mortgage produces, the upfront Valuation Fee is small beer and a PR opportunity for the lender and the borrower to get off on the right foot.

A detailed and professional Valuation Report is just as important to the buyer as the lender. Buying a property is probably the biggest financial commitment we make in our lives and the importance of getting it right cannot be overstated. After all, there are many horror stories of new owners finding defects shortly after taking possession, and in the current real estate market it is very important to buy smart to avoid the potential risk of properties going down in value. Barbados has never experienced a downturn in the property market until recent times, but anyone who feels their property is worth more than it did five years ago is more likely expressing a personal opinion rather than fact. In general terms properties have dropped in value, but only when you engage a Valuation Specialist will you

have the professional opinion that makes a specific assessment as a specific time.

Many mortgage applicants ask their lender who will value the property and this is an interesting question. In mature mortgage markets a lender’s Valuation Panel is determined by internationally recognized standards, qualifications, Codes of Conduct and adequate Professional Indemnity insurance. These are the standard benchmarks that bring integrity and professionalism to the table and protect everyone. For example, an RICS (Royal Institution of Chartered Surveyors) qualification has international status with over 100,000 qualified professionals worldwide in their ranks. Barbados has 45 RICS qualified professionals mainly in the Quantity Surveying and valuation sector , but local lenders still set their own criteria without divulging too much to the customers about their status, so a lot of faith is placed on their choice. That may not be in the best interests of the customer who is entitled to know who is doing the valuation, their qualifications and their professional indemnity cover. Lenders should also have a brochure that lists the Valuation Panel and some basic details of the firms on it.

They should also give a choice to the customer, something that is virtually unheard of in local lending.

We live in an era where transparency is much more important than in the past and businesses are obliged to set high standards of professionalism and ethics. This is a grey area that could easily be improved if all lenders were obliged to adhere to some basic standards. That can only be good for the customer as well as the lender.

Indeed, why not go further and oblige all selling agents to offer a Buyer’s Guide with each property listed for sale? This would be another constructive step towards adding more integrity to the buying process.

Clarence Hiles is a Director in Caribbean Mortgage Services and can be contacted at Clarence@caribbeanmortgages.com

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Real Estate News

BEAVA News

Realtors Wins!

Training Time Again for BEAVA Agents

Realtors Real Estate Limited wins Best Real Estate Agency in Barbados

We promised we would present opportunities for more training and we are going to deliver on that promise.

BEAVA will train its agents this February 26th on Seven Steps to MLS Success, an initiative whose objective is to assist agents in securing MLS listings more confidently and successfully.

One of the tutors of the course and a member of BEAVA’s MLS Committee, Cherita O’dell says: “It will be an interactive session; (by the end of the training) agents will be prepared for any objections that the owners/landlords may have as it pertains to signing an agreement and they will be more at ease when it comes to explaining why listing with a BEAVA agent is in their best interest.”

The training session will also serve as a reminder to the agents of the various ways to navigate the intricacies of the online system.

Cherita adds: “The aim of this interactive and engaging exercise is to educate and motivate the agents when it comes to taking advantage of the many benefits of the MLS system. As everyone gets more comfortable with how to use it our industry can only grow by leaps and bounds.”

The course, which is scheduled to be held at Coconut Court Hotel from 9 a.m. to 12 noon, will also be conducted by Art Ramsay and Paul Alleyne, both of whom are experienced BEAVA agents.

Agents who attend will also benefit from a brief presentation from a banking institution that has partnered with BEAVA to offer its members a first glance at a new package being introduced. We shall say no more!

More details about the course will be coming to your inbox soon.

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We at Realtors Real Estate Limited are pleased to announce that we have been awarded a 5-Star International Property award for best Real Estate Agency in Barbados for years 2013-2014.

Mrs. Suzanne Davis, Managing Director and Mrs. Tammy Brown Office Manager. Real Estate Co-Ordinator received the award on December 8, 2013 at an awards dinner at the Grosvenor Hotel in London where they were winners from all over the world.