Condo competition in the Gap

October 22, 2009

OCEAN 2 beachfront [1024x768]The very popular St. Lawrence Gap in Barbados is playing host to some fierce competition for condominium, villa and apartment sales. The popular south coast entertainment strip will soon be home to two new condo developments that include the island’s first 4 star condominium hotel called Ocean Two which is scheduled for a 2010 completion date, meanwhile Sapphire Beach Apartments is slated for an end of 2009 completion date.

Ocean Two will be nestled on the southern part of the entertainment strip with a newly created beach with the exquisite Caribbean sea at its heart putting that panorama of blue waters at your fingertips. The property offers 70 new residences – 50 one bedroom units and 20 two bedroom units all featuring modern high-end finishes and stylish designs. Offerings will also include; two dining areas  – a beachfront restaurant serving island fare, a swim-up pool bar and a specialty coffee bar; a meandering pool complete with cabanas; a full size gym; in room spa services and a secluded roof-top patio with lounges and a plunge pool with the setting sun as its backdrop. Comfort and  luxury with modern finishes are the hallmark of this property. This property comes with the full service of a hotel and owners of the units have the option of putting their unit in the hotel rental pool and generating revenue.

On the other hand Sapphire Beach will be a 54 unit complex located on 370 feet of beach frontage on Dover Beach in the Gap. 18 Two bedroom units and 34 Two Bedroom  plus Study Units on six levels. The Townhouse style two bedroom units are 1,630 sq. ft. and are located on levels 1 and 2 equipped with full Appliance package, superb Italian Kitchens and air conditioning in all the bedrooms. Luxurious finishes and top quality craftsmanship with granite counter tops and porcelain floor tiles. Every unit has an exceptional view of the Caribbean Sea. Two large swimming pools with boardwalk bridges leading to the beach.

These two developments will greatly enhance the tourism product on the south coast when they come on stream in 2010, The Gap already has two virtually new developments with units for sale on the market already. The Terraces which is to the southern end of the well-known entertainment strip  has units for sale with prices starting at US $ 325,000. That development features a four storey property with sixteen luxury apartments with the two bedrooms and the two bedroom apartment with study available.

White Sand Villas is another property that has come on stream in the gap recently and this boast of a price tag of US$ 475,000 Freehold. This development consists of 22 units, all nestled on a quiet secluded beach with communal pool, private parking, beach shower, covered terraces and landscaped gardens.

Even though tourism officials have pointed to a downturn in tourists arrivals over the last two quarters, some of these developments are still attracting significant investment from the offshore market which they have been primarily created for.

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