Yet another real estate firm in Barbados is expecting renewed interest in the islands’ property market for 2010.
In fact it is being suggested that there has been an increase in serious enquiries for property sales over the last two months.
These sentiments have been expressed by Cluttons Barbados as the realty firm expressed an optimistic view about 2010 figures. Over the last quarter there have been significant signs of improvement in property sales enquiries and actual transactions. The number of serious enquiries are up by 80% for the current period when compared with the same period last year, explains Cluttons Barbados.
Home buyers are attracted by the potential to negotiate a discounted price with high expectations of rental and capital growth. The attraction for property in Barbados comes with the stability of the economy, currency exchange rates, location and the quality of properties that Barbados has to offer.
According to executives from Cluttons Barbados, over the last year the global economic downturn created some opportunities in the Barbados property market as some vendors and developers reduced prices to increase enquiries and reduce transaction times. This phenomenon is extremely rare in Barbados and Cluttons does not expect this situation to last for too much longer.
However, Barbados has an extremely strong property market and the level of offers and sales increased after July 2009.
A Cluttons executive has stated: “Barbados is an extremely strong brand and clients want a safer market that can offer good potential on the upturn. If anything, this financial crisis has placed Barbados in a better position as competing and alternative destinations have faltered quite dramatically. Our homes are stunning; the people are lovely; the economy is stable; there are top end restaurants and beach bars everywhere; the pure white sandy beaches are heaven; and, the clear blue waters of the Caribbean Sea provide many with the opportunity to truly relax and escape the world’s woes.”
While Barbados does have a large upscale market that has attracted the rich and famous from all over the world. The islands’ property market on a whole has developed in such a way that there is now a diverse market with sale properties ranging from US$145,000 to US$40m.
