These days, everyone seems to be talking about the state of the global economy. While it is true that the recession has had an adverse effect on almost every industry, there has been encouraging news in the area of real estate, specifically the luxury property market.
In fact, some experts are reporting that the high-end property market is booming in certain areas – promising news for islands like Barbados, premium beach destinations traditionally favoured by the rich and famous. Research suggests that as Europe continues to experience significant upheaval, investors are shifting their focus to North America and the Caribbean. Property in Barbados; such as luxury villas, holiday homes and short and long term lets, continue to be attractive options for persons looking to invest in real estate.
Barbados has embraced this trend and introduced new legislation making it easier for foreign investors to settle and conduct business on the island. In addition, significant resources have been injected into the cultural, heritage and environmental industries, enhancing the island’s image and tourist appeal. Most recently, Barbados has celebrated the addition of Bridgetown and its Historic Garrison to the prestigious UNESCO World Heritage List. In 2012, Barbados will once again be celebrating the annual Crop Over Festival, the Food, Wine & Rum Festival , and many other events.
As the island continues to be a favourite luxury and holiday destination, it will also be an ideal place to purchase real estate. I recommend that interested persons visit the island and explore the options available. Real Estate and Property Management companies such as Island Villas Ltd. are excellent resources as they can provide expert advice on the local market, rental potential and other key factors.