Barbados real estate industry is missing out on a market that could reap rewards for it in the US.
Speaking just minutes after the NISE Leadership Conference at Hilton Barbados, Roland Martin, CNN contributor and syndicated columnist explained that influential African Americans across the US, who are looking for new investment that will bring returns in a stable economic environment, where they can also beauty and sunshine on its side is what they are all about.
Martin maintained, that developing a marketing strategy that taps on influential people in the US who are looking to buy 2nd, 3rd and 4th homes, is a good way to go for a growing real estate market in Barbados.
The US journalist said, “These generations of African American folks are looking at 2nd, 3rd or 4th homes.”
He explained that presently that that same market is looking to buy and invest in properties in Miami, and Myrtle Beach, South Carolina.
Martin acknowledged that Barbados is not on the mouths of the people he socializes with in the US. Meanwhile the syndicated columnist argued that he travels to Jamaica, and they use the knowledge of previously sold celebrity houses as a way of hooking someone else.
Furthermore the well-known writer also argued that the development of an overall marketing strategy of country like Barbados to connect to overseas market is key.
But Martin also highlighted that the market will also be looking at the investment from a business stand point and what are the economic opportunities that exists in Barbados.
The renowned political commentator said, “Because they (black high net worth individuals) are people who are looking for growth globally.” The next question becomes how they can have that type of partnership in places like Barbados.
The Caribbean has among other regions emerged as a lucrative destination where prospective investors could invest in the properties and earn good returns. You could rent five star rated properties at a rate that is well below market rates.
That is the description of a US-based stock review about the global property market.
Highlighting the fact that financial markets all over the world and the followers have been waking up to newer avenues that have higher capital growth potential than ever and investment in property overseas is now the biggest rage in the investment scenario and has been giving the customers very decent returns.
According to the review the overseas property for investment, especially the Caribbean investments are considered the goldmine where you can invest your hard earned money and earn decent returns. It advises that investors could invest in a Self Invested Personal Pension (SIPP) plan that is related to the properties and earn big.
However, the prospects of higher capital growth potential must not lure you into making hasty and wrong decisions. Hasty and wrong decisions, especially in matters of finance, can lead to a disaster. Since this is a relatively fresh development in the financial market, you need to be circumspect and careful and preferably take expert advice before you actually take the plunge.
In fact the review names Barbados as one of the hot destinations for overseas investments. It adds that there are various ways the prospective investors can invest in an investment property abroad. You can avail of 100% finance; have a specified period earmarked for free use to name a few till the property is completed., St. Lucia was also named as prime investment destination in the Caribbean.
Investment in the properties in the emerging markets too has been emerging as a very lucrative avenue. This is a very lucrative area for overseas property for investment. The emerging markets, because of the fast developing markets and economies in their respective countries, are high risk prone but at the same time, can offer very high growth and high returns on your investment.
Limegrove Lifestyle Centre with its $100 million investment is poised to add to Barbados as a high quality destination.
This was one of the admissions made by Prime Minister of Barbados David Thompson in a media briefing, following a tour of the west coast lifestyle centre.
As the commercial space which represents 80 per cent of the 10 acre property moves closer toward its December 2010, completion date, the PM explained, Barbados is viewed as a destination of a once in a lifetime scenario.
So as the Prime Minister noted, “it’s like owning a Cartier watch from Diamonds International or Monte Blanc pen, or some other unique thing.” Barbados is a unique pleasure, he indicated.
He explained that just as the island continues to attract visitors and investors with such great means, the island must have sites that will drive them here. The PM told the media that LimeGrove would be such a property, offering some of the greatest brands around the world, to encourage commerce and shopping.
The Prime Minister said, “When we position ourselves there we must have the product and the opportunities for persons at that level to engage in high quality shopping. “
PM Thompson complimented property developer Paul Altman and his team for thinking of Holetown and added that he hopes a similar thing will happen in Speighstown, because there is a lot of potential in Speighstown and other discreet sites around Barbados. You can have unique experiences
