Should You Invest?
Barbados has been a popular tourist destination for quite some
time and holiday makers often visit several times, eventually
buying a second home there. Although property prices are high at
the moment they are still increasing so investors can still make
big returns in the future.
- There are no restrictions on foreigners buying property.
- Rental yields in general are relatively low.
- Buyers only pay a small percentage of the transactions costs
when buying property.
- The economy is currently stable with a GDP growth rate
predicted to rise annually.
- Barbados has a very good buy to let market in tourist peak
seasons.
Rental Yields
In Bridgetown you can expect an average yield of 4.5% on a
rented house. Saint James is expensive part of the island to invest
in property, for lavish apartments, yields are about 1.5% on
average. Unless catering for long term residents, rental yields on
the island tend to vary each year as there are a lot of short term
seasonal rents over the peak tourist season.
Price History
Barbados is seeing a boom in the property market with more and
more foreigners looking to buy into investment properties or second
homes. The west cost of Barbados is particularly popular with
wealthy holiday makers because it is quieter. The east cost is
a lot cheaper to visit and locals and tourists integrate a lot
more. Property prices on the island have gone up an average of 20%
since last year and prices are predicted to continue to rise as the
island's popularity burgeons.
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