The process in detail

Now that you have found that ideal apartment or villa, we have prepared the following information which will outline the buying process in a little more detail

Once you have chosen the apartment, or villa, you will be asked to sign a sale agreement, and pay a £1000 deposit to hold your apartment or villa ( this is only a holding deposit, if you do not pay the 10% on day 15 your apartment/land is not secure, and holding fee not refundable ) Once you have paid your 10% on day 15, this now secures your chosen apartment or villa . On day 45 you have to pay 20%, the balance can be arranged by mortgage guarantee, which means no further payments will be required until the completion.
 

Cliff top villas

These Villas obviously occupy a 5 star location and prices start at £1,300,000 - £2,100,000. Once you decide that this is the property for you, and secure it, in principal, with the Deposit (£1,000). We will fly you to Barbados for a site inspection and meeting with an architect to ensure that your Villa is designed and built to your exact requirements.


 

Buying property in Barbados

There are no restrictions on non-nationals owning property in Barbados. A non-national must register all funds brought into Barbados with the Central Bank of Barbados, which in turn will guarantee the repatriation of funds should you wish to sell the property at a later date. Central Bank permission is required by a nonnational to purchase property in Barbados but this is merely a formality. Financing is generally not available locally, so you must be prepared to bring all of the purchase price into the island.

Recently the government has now eliminated the 10% Property Transfer Tax. The only additional fees involved with a purchase are for the Attorney-at-Law, which is approximately 2% of the purchase price, plus a 15% VAT on the Attorney’s fees. Once an agreement has been made and a 10% deposit of the agreed price paid, the deal must proceed - failing which, the deposit is forfeited.

Land searches

Every plot of land we offer for sale has been thoroughly researched into provenance, Title, etc., and will be sold with all Deeds, Permits, Forestry clearance, etc., all in place.

Barbados - an investor’s haven

Barbados, having a reputation for political and economic stability is a low-tax, US currency based economy, which together with its sound jurisdiction and infrastructure, its ‘state of the art’ information systems and highly educated population, provides a secure haven, whether for Offshore investment or the purchasing of a dream vacation or retirement home. Beautiful beaches, an underground supply of pure drinking water and warm sunshine; its geographical position places it within easy access by way of daily flights by international airlines from major North American and European cities.

Due to the small size of the property market in Barbados, it is less susceptible to world market changes, therefore when property values fluctuate elsewhere, the values here usually remain relatively stable. The upper level of the islands real estate, operates almost as a separate market within a market, where there has been steady and gradual increase in property values. This capital gain attracts many investors to buy and sell real estate in Barbados.