Barbadoa Property Investment For Sale

“A traditional favourite that still retains its allure but is not the investment opportunity it once was"

Barbados is the most developed and wealthiest country in the Eastern Caribbean and enjoys one of the highest per capita incomes in Latin America.  The island was one of the first in the Caribbean to focus on establishing tourism as an economic tool, and is, therefore, one of the most well established holiday destinations in the world. However, as a result of its popularity, Barbados has become somewhat over developed in recent years and property prices have risen to extortionate levels with villas on the west coast around St James often selling for millions of dollars.

The island has a vibrant party scene, centred on the many 5 star resorts and villas and particularly the numerous clubs and bars along St. Lawrence Gap where calypso rhythms combine with reggae and rum in a setting of natural beauty.

Home to the rich and famous there is no capital gains tax or inheritance tax although residents are taxed on their world wide income – something to be aware of.  With its extortionate house prices, Barbados should be seen more of a lifestyle choice than one chosen purely for investment.
 

Geography

Barbados is situated in the east of the series of islands within the Caribbean and Atlantic Ocean. The island is made up of eleven different administrative parishes. As a mostly flat island with only a few hills, it differentiates itself from its neighboring volcanic islands. The west coast of the island contains some of the most stunning white beaches with clear blue seas whereas the east coastline has equally pretty beaches but is used more as a surfing destination whilst the coastline is more uneven and rocky.

Government

The government in Barbados is a parliamentary democracy which currently takes the terms of the British system. The official head of state is the British Monarch with a locally elected Prime Minister.

Language

The official language in Barbados is English but the local people also speak a Bajan dialect.

Standard of Living

Barbados boasts one of the highest standards of living in the world with a relatively low cost of living. The country has a very good health care system for those looking to retire on the island and the locals are very welcoming, friendly and polite. 

In the past Barbados relied heavily on its sugarcane industry to maintain the economy but in recent years the country has concentrated on manufacturing and tourism to achieve good economic growth. More recently the island has seen a boom within the construction industry as more hotels, offices and property is being either developed or redeveloped.  The government continues to focuse on reducing unemployment rates, promoting direct foreign investment and increase and maintain tourism.

Key Industries

Barbados generates the majority of its income from tourism and therefore the country has to import a considerable amount of goods into the country to cater for the holidaymakers. The island still produces some agriculture which it exports to neighbouring countries. Key industries outside tourism include sugar and molasses, rum, food and beverages.

Barbados is currently divided up into eleven different administrative parishes, Christ Church, Saint Andrew, Saint George, Saint James, Saint John, Saint Joseph, Saint Lucy, Saint Michael, Saint Peter, Saint Philip and Saint Thomas.

Bridgetown, the capital, is located in the parish of St Michael on the popular south-west coast. The most occupied areas are the parishes of St Michael, Christchurch and St Philip which are all located on the south and west coasts. Barbados is the most easterly Caribbean island and bears the brunt of the Atlantic climates, thus the east and north coasts are less popular due to the prevalence of rocky outcrops, cliffs and rough seas.

The west and south coasts are in high demand for their long stretches of glistening white sands and sheltered beaches. The west coast is therefore often referred to as the Platinum Coast thanks to the global billionaires that own residences along its beaches. The west coast also boasts some of the most exclusive resorts and developments, such as Sandy Lane and the Port St Charles Marina.

With coastal property being in such high demand and very short supply, many potential property owners are having to look further inland for residences.