Monday, March 15, 2010

Barbados is queen of the Caribbean

"It is not hard to see why Barbados is considered the premier destination for Britons thinking of buying property in the Caribbean.
Turquoise-coloured sea and beaches that live long in the memory are just a starter; add to this a warm sunny climate all year round, friendly people, infrastructure that is more first than third world and stable government and it's easy to see why Barbados still holds many in thrall.
"Barbados has always been a favourite among UK buyers – it's known as 'Little Britain' – and the current market has proved that," said Georgina Richards from estate agents Knight Frank International. "We've traditionally sold in British Virgin Islands, Mustique and Grand Cayman as well, and a couple of years ago buyers were investigating the more peripheral islands of the Caribbean, but the market's contracted right back to Barbados. It's our core market: more than 90 per cent of buyers are looking there."
Although the Barbadian market did suffer a downturn in late 2008 and 2009, and several high-profile developments such as Four Seasons and Apes Hill were subject to delays, it seems that building work is commencing again on the island. At the luxurious Royal Westmoreland development, for instance, a new building phase, Sugar Cane Ridge, is about to begin which will have 14 four-bed villas available from $1.2m (£800,000). "Some developers understandably have struggled with financing their projects," said Ian Cox from Royal Westmoreland. "Here we have had no such difficulty as we are a large, well-established development which has grown organically over years, regardless of credit crunches or world economic problems..."  - more -

Click here for entire article from The Independent


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