One of Barbados’ largest source market for its offshore real estate sector is witnessing an increase in properties being bought, particularly on the residential side.
According to the latest report issued by the US National Association of Realtors its Pending Home Sales Index rose 6.1% in September to 110.1, its eighth straight monthly rise.
This latest news comes at interesting point in time with global real estate witnessing some uncertainty due to the downturn in a number of economies globally.
In Barbados realtors have suggested that current time is a good time to buy and even to get a rental property. Though some have explained that its not a buyers market others have noted that now is one of the best times to buy properties in the paradise island, with luxury property mediating to their fair market value.
According to the US realtors association a key US housing index has risen to its highest level in almost three years, helped by first time buyers taking advantage of a popular tax break.
The National Association of Realtors said Analysts said first time buyers were rushing to beat an end of November deadline for a tax credit.
This news could have an interesting impact on Barbados real estate as a pickup in US real estate could bring a rise in activity in the island’s offshore market. The island has always shown increased property values and has shown to be a stable place to invest. Barbados has a number of property development soon to be completed that could prove to be the right investment for anyone around the world.
