Live in Barbados

We’d like to welcome our newest agency to BPL and introduce them to our users…

Established in early 2003, Global Estate Agency Inc., Barbados is a luxury boutique real estate brokerage with preeminent realtors who offer a personal professional service whether you are looking to buy, sell, rent or seeking management for a small flat or large estate.

Global Estate Agency Inc. is privately owned family and independent company, registered with a Barbados government real estate license and is a member of the Barbados Estate Agents And Valuers Association (BEAVA). As a BEAVA member, Global Estate Agency Inc. has access to over 130 members’ properties which in turn gives you a wider property database to choose from.

We would like to welcome our newest BPL client and thank them for giving BPL this opportunity.

Island Gold Realty and Fairways Real Estate is the coming together of two real estate companies with a dedicated, friendly and efficient team.

With over eighteen years in the real estate business IGR  pride themselves on being a first class establishment with outstanding customer service. IGR’s online and offline marketing programs will give you the edge to sell or rent your property.

Every member of the team is committed to providing outstanding service and support and each individual is genuinely dedicated to helping you enjoy your property either as an owner or a guest.

Check out some of their sales listings we’ve uploaded so far ….

The first way is saving energy, which is not only beneficial to the environment, but also easier on the pocketbook. This can be done by using compact fluorescent light bulbs, unplugging appliances when you are not using them or using a smart power strip that senses when appliances are not in use and cuts energy use and washing clothes in cold water whenever possible since as much as 85 percent of energy used in machine washing goes towards heating the water.

See full article from the Barbados Advocate.

A very popular guide to Barbados’s real estate scene, now easy to download and have at your fingertips!

Click here!

We would like to welcome our newest BPL client and thank them for giving BPL this opportunity.

Alleyne Real Estate is a family owned and Barbados operated company specializing in property sales, long term rentals, property management and luxury villa rentals and is known for its diversely skilled and devoted staff.

The Company operates from offices set at Molyneux Plantation conveniently located in the middle of Sandy Lane Estate.

Alleyne Real Estate has 38 years experience in real estate and have a younger focused team to take the company forward.  Their realm of knowledge and experience will help you to meet all of your real estate requirements.

Check out some of their long term rentals we’ve uploaded so far ..

In my experience, many first time purchasers of a holiday home don’t fully understand the associated hidden costs. This isn’t a negative to buying a holiday home, instead,  knowing the running costs before home hunting begins will help you identify what each home will cost you in the long run and thus narrow down your search early on.

This article was posted today and gives some insight to property management.  Whilst those who do not want to rent their home may think a property manager is not necessary, I am a huge fan of property management either way.

For example, it will ensure a close eye is kept on maintenance!  If this gets out of control, which in the tropics it can, a nasty surprise could be waiting for you on your return, to what should be a peaceful break away.

If you are a first time buyer on Barbados, I suggest you touch base with a property manager early on.  Being in the business, we here at BPL can refer you to commercial agents (if you are interested in renting) and also the more handyman type of manager.

For those of you who didn’t know, the Terra Caribbean real estate company releases a monthly newsletter. In this month’s newsletter, Hayden Hutton, writes about Residential Capitalisation rates. Click here for a link to Wikepedia’s definition.

In a nutshell, Hayden reminds us that in the past, holiday home purchasers have invested in Barbados with the expectancy to benefit from double digit increases in the capital value of their home.  This is further highlighted by the low return experienced and projected from rental income versus the costs associated with owning a holiday home.  Some of these expenses are down to house management, full time staff, and maintenance.

The market capitalisation rate does not rely on the income from rent to determine the true return on one’s investment as it takes into consideration the capital increase in value.

With current market conditions considered, Hayden reports that recently perspective purchasers are looking much closer at the operational side of a purchase.

Important advice for developers and homewoners looking to sell up!

How long have you been a real estate agent and/or in the real estate business?

I started Seaside Realty Inc. approximately eight years ago and we specialize in sales, rentals and property management. I have always enjoyed both real estate and property management and therefore took some courses whilst at The University of Guelph, where I obtained a degree in Hotel Management.

What are the top 3 things that separate you from your competitors?

There are many ways in which Seaside Realty makes a difference in the business.

a) One is that our staff do their very best to find the most suitable property for the client. To do this we don’t limit our searches to only those properties we have direct. We work close with many other agents and can therefore offer our clients a wider variety of options within their budget. It does not matter which property will fetch us more commission….what matters is that our clients end up as happy customers!

b) Another way that separates us from our competitors is by the staff we have chosen to represent the company. Our employees are with us due to their willingness, their professional & personable attitude, vast knowledge and experience in the business, their flexibility and last but not least their honesty. Clients are made to feel comfortable via telephone and during viewing.

c) And lastly, we try to make ourselves available after hours and on weekends, our agents make it possible for properties to be shown at the times that best suit the client.

Which countries are the majority of your purchasers from?

The majority of our purchasers are locals, followed by the U.K. and Canada. We get most of our local clientele through word of mouth and our good reputation.

Have sale prices been affected by the global financial crisis in the last 6 months?

There has certainly been some price stabilization and reductions this year. Land prices have more stabilized, while property prices have tended to drop. My belief is that these strained financial times have caused owners to achieve more realistic prices for their properties, not necessarily caused anyone to “give their property away”. At the moment there are some really great deals, perfect for the developer who has the funding to purchase now and wait out the down time.

Do you have a presence on other islands in the region and/or outside of the region (affiliations)?

At the moment we only have our local office and no other affiliates. We have considered branching to the other islands, but with only five staff members we rather not stretch ourselves too thin and in doing so sacrifice good service. My dream is to have a presence overseas in the future and when I do so, we will have the means of running just as efficiently as we do now.

www.seasiderealtybarbados.com

How long have you been a real estate agent and/or in the real estate business?

I have been in the real estate business for 12 years now. I started in property management and continue to be involved in this area but now spend more time in sales and rentals.

What are the top 3 things that separate you from your competitors?

Our company is staffed with people who have been in the industry for 10 years or more. We have an in depth knowledge of the local market and years of experience which help us to service our clients to the highest of standards. We are well known for property management on the South Coast and manage several condominium complexes which have opened up our sales and rental departments to exclusive listings. Repeat clientele is one of our strongest assets; we have provided good service and found that when they are ready to purchase a second home or a new investment they have always called us first.

Which countries are the majority of your purchasers from?

In general, the majority of our purchasers have been from the UK and Europe, due to the strength of the pound over the last few years, but recently we have seen an increase in purchasers from Canada. The Canadian dollar was very strong for a period, actually surpassing the US$ and even with the global financial crisis their economy still continues to do quite well.

Have sale prices been affected by the global financial crisis in the last 6 months?

Yes they most certainly have. Many vendors have asked us to reduce their current sale prices and a few have even taken their property off of the market for the time being. There are also a number of condominium projects that have been “shelved” for the time being and a few that have stopped half way. Everyone is watching and waiting to see what the upcoming winter season produces.

Do you have a presence on other islands in the region and/or outside of the region (affiliations)?

We do not currently have one but we do offer properties for sale in other Caribbean Islands.

www.igrealty.com