Before we launch into what property is for sale in Barbados let’s understand the island a little more. Barbados is one of the Lesser Antilles. It is situated in the North Atlantic, about 100 km (62 mi) east of the Windward Islands and the Caribbean Sea. It is also approximately 3,372 km (2,095 miles) south of New York.
With a land area of only 431 sq km (166 sq mi) it is one of the smaller islands, but it is one of the better known with its vibrant Caribbean culture, secluded white sand beaches and almost perfect tropical climate. The island enjoys two main seasons; the wet season which runs from June to November, and the dry season which runs from December to May. Despite being prey to some big Atlantic storms, Barbados is actually outside of the official hurricane belt, a fact that should be of some interest to potential property investors.
- Stable Government – Barbados has a stable government that promotes property ownership from outside. The legal system is based on UK law and English is the main language.
- Flights – BA and Virgin fly direct to Bridgetown, Barbados from London for around £500 to £650 return and it takes approximately 8 hours 30 min one way.
Barbados has a relatively well-developed economy and the standard of living for Barbadians is fairly high. During the 1970s Barbados diversified its economy which, up until then, had been mostly reliant on sugar cane. Modern Barbados relies on tourism and light manufacturing and has a particularly well-developed off-shore banking sector.
Barbados is well-served by many of the internationally famous hotels chains and has an abundance of tourist accommodation available. The most popular areas for tourism are the southern and western coasts which are sheltered from the Atlantic and face towards the calmer waters of the Caribbean. The east coast has much bigger swell and is a popular destination for surfers and water sports enthusiasts. Away from the sea and lazing on the beaches, visitors to Barbados can enjoy great duty-free shopping, wildlife and conservation excursions, golf, off-road exploration and a vibrant night life which reflects the warm colourful island culture.
Property in Barbados
There is a lot of property in Barbados available and you can expect to pay in the region of £100,000 for a 1 bedroom apartment in a beachfront complex. If you are looking for a 2 or 3 bedroom house in a town you will pay anywhere from £100,000 to £180,000, depending on location.
Something that may be of interest to the potential Barbadian property investor is the amount of land available to buy on the island. Building plots in residential developments are plentiful and start from just over £50,000 for a house sized plot and range up to around £100,000 depending on the community and location.
If a residential community is not for you £150,000 to £250,000 will buy you a nice secluded beachfront plot with no neighbours and permission for a 3 bedroom villa. The same price in a residential community will buy you a good couple of acres so, either way, you can be assured of your privacy.
Top of the range in Barbados?
At the time of writing, for £16.5million you can get yourself 2.5 acres of prime beach front at Kings Beach on the exclusive Platinum Coast. This development plot comes with permission for 50 luxury apartments and either a hotel or a selection of private villas.
How could you resist investing in Barbados?
As of writing there was a number of Barbados property investments for sale with returns quoted at 19% to 26%. These were located in the parish of St Philip, 4km north of The Crane situated in the South East of Barbados. Minimum investment is approximately £85,000 which would get you access to a 5 star resort. Large agents such as Knight Frank offer a number of private and off-plan investments in Barbados and some are as high as £10,000,000.