Live in Barbados

Over at The Independent there is an interesting discussion about how to manage overseas homes. Apparently 1 million Brits now own overseas properties.

Over a million of us currently own a home abroad. However, the global economic slowdown has hit all homeowners with overseas
property owners struggling to meet the increased cost of maintaining their home.

Webchat: Reducing the cost of your overseas property – Business Analysis & Features, Business – The Independent.

Caribbean property could see prices increase by a regional average of up to 5%, international property investment consultancy Property Frontiers has announced. The firm says that as international buyers return and tourism climbs back onto its feet developers will seize the opportunity to start reversing any discounts or price falls from as early as April.

“Overseas property sales have been increasing since last April, and the Caribbean has seen among the fastest growth in sales volumes. This is because lifestyle buyers, mostly wealthy ones have been predominant in the market, and the Caribbean is the ultimate lifestyle choice,” said David Cox director of the firm.

“Lifestyle buyers had kept the Caribbean markets going anyway, so prices didn’t have to come down in most places. This leaves developers well placed to capitalise on the increasing demand to increase their turnover,” he added.

See full article here.

Unfortunately, there are no 100% accurate methods for measuring website traffic for sites other than your own. The best option we have is Alexa.com. Here is a list of Alexa rankings for some Barbados property websites. The smaller the number, the more traffic. So for example: BPL is currently the 461,212th most popular site in the world according to Alexa.

1. barbadospropertylist.com — 461,212
2. totallybarbados.com — 472,875
3. cariblist.com — 684,879
4. aaaltman.com — 991,148
5. terracaribbean.com — 1,497,518
6. askbarbadosrealty.com — 1,873,451
7. westcoastvillas.com — 2,043,574
8. cluttonsbarbados.com — 2,907,320
9. harrymanning.com — 3,365,225
10. totallybarbadosrealestate.com — 4,718,435

Not only is our Alexa ranking the highest out of all the sites I’ve sampled recently, but we have a few other creative techniques up our sleeves to ensure you get the right traffic to your business.

We think your property listings should get as much exposure online as possible, get in touch with us today via our contact form and find out more…

Free listings are being uploaded steadily, we see about 1 per week. It’s worth keeping an eye on this category, as you may find some good deals…

http://www.barbadospropertylist.com/category/agent/free-listings/

Do you have anything to say about Jack Fagan’s claims below?

Prices for apartments and villas start at over €1m in hotspot where the property market is still booming, writes JACK FAGAN

BARBADOS IS hopping right now. Even though sales of holiday homes have slumped on most Caribbean islands, Barbados appears to be bucking the trend with a high level of inquiries and a significant pickup in sales as the island is once again packed for the peak holiday season.

London estate agent Knight Frank draws an analogy between the property market in Barbados and that in London, pointing out that in a slowdown, prime locations in London hold their values better and recover faster.

via Barbados – A-list island bucks trend with busy sales – The Irish Times – Thu, Jan 21, 2010.

Barbados still up there at the top……

The Caribbean, the playground of the rich and famous, has been getting more affordable. The depreciation of the US dollar against major currencies such as the British pound and the euro, has made Caribbean properties more attractive.

More affordable… but still not cheap! Property prices in more popular and developed islands can easily reach over one million US dollars for a house and lot near the beach.

In its latest survey of Caribbean property prices (March 2008), the Global Property Guide finds that in Bermuda, the average price of a three bedroom house and lot is around US$1.5 million.

In Grand Bahama, Bahamas, a similar property costs around US$1.4 million, according to Global Property Guide figures.

Property prices in highly-developed areas such as Bermuda and Bahamas exceed US$7,000 per sq. m.

Coastal properties in Barbados are also expensive, at around US$6,700 per sq. m. In the British Virgin Islands (BVI), the US Virgin Islands (USVI), real estate prices are around US$5,000 per sq. m. Sint Maarten also has expensive properties at around US$5,300 per sq. m.

See full article here.

Early 2010 should see the Four Seasons kick back into action.

The largest property development and tourism project along Barbados west coast should be back on track early in 2010.

The widely debated property, Four Season Resort and Residences which broke ground in 2007, came to a screeching halt last June but now plans are afoot for its restart.

But now the plan to get the multi-million dollar property underway will largely involve the Government of Barbados, well-known government advisor and investment banker Avinash Persaud and partial financing from one of the island’s finance houses.

See full article here.

Worldwide Property Group reports that for the third month in a row figures show an increase in confidence amongst property investors.

Their survey, conducted monthly, states 88% of November respondents say now is a good time to invest in UK property, compared to 87% and 85% for October and September respectively. Further results show an increased percentage of people expect house price valuations to go up by 5% over the coming year.

The most interesting statistic for BPL readers is that although the percentage of people considering an overseas property purchase has decreased, the Caribbean is now the most popular location!

Congratulations to Jill Tomlin, Colleen Cole & Linda Lewis-Bishton on another fine issue of Living Barbados, the magazine for property investment and lifestyle in Barbados.

The winter season issue is packed with great articles, listings and photography, making the case for living in Barbados even more compelling. Here are a few items from the table of contents:

• Destination: Crane Village — At the intersection of Heaven and Earth. By Kerri Birch
• Isle of Plenty — The Barbados real estate scene appeals to all types of buyers. Which coast suits you best? By Laura Henderson
• Wealth Management and Your Real Estate Assets — Manage your assets during a global recession. By N. Elliot Barrow
• Investor Interview — with Mark Maloney, Managing Director of Preconco Limited

There are many more interesting features and listings from the island’s real estate agents, and you’ll even find a 1 page ad from your favourite listings website on page 86.

We didn’t have a great deal of time to put together the artwork for the ad, which is why it’s so minimal. Leafing through the magazine it looks quite different to the average real estate ads. We like the fact that it’s big and bold, but next time we’ll try something more sophisticated. What do you think?

Factual news on Barbados’s Four Seasons Development is hard to come across.

In this article, the Guardian gives us some insight”

It was planned as the most lavish millionaire’s hideaway yet on a Caribbean island already crammed with spectacular beach-front mansions.

The offer of a palatial residence in the Four Seasons complex inBarbados, overlooking white coral sands, presented a rare chance for music moguls turned reality TV stars Simon Cowell and Andrew Lloyd Webber to gain a toehold on the island’s exclusive “platinum coast”, where Tony Blair, retail tycoon Sir Philip Green and film director Michael Winner regularly holiday in a climate that is 28C (82F) and sunny almost all year round.

They are among several investors who have paid deposits on villas in the development, which cost up to $30m (£18m) each. The plans showed the best properties would come with an infinity pool on the terrace, a cinema, gym and even a wine cellar to keep the finest bottles cool in the tropical heat. A neighbouring Four Seasons hotel would provide room service and access to butlers, housekeepers, chefs, waiters, gardeners and night watchmen for an extra cost.