_ Barbados back on real estate buyers' radars as affordability and new government reignites interest

How has sales activity differed this year compared with last year?

Barbados is arguably the most affordable it has been for a number of years, prices are now down to the levels they once stood at in 2008/09, representing a clear buying opportunity. 

This has been supported by a pick-up in sales activity over the past year with a number of transactions taking place within the core market, most notably the price bracket between US$500,000 up to US$2 million where we anticipate the top end of the market to follow suit in the months to come.

Price corrections alongside the newly formed government spearheaded by Mia Mottley, has injected a new sense of robustness into the real estate market and thus has seen more UK nationals moving to Barbados as to take up tax residence as a result.

When is the busy season for your market? When should vendors look to have their property ready to market?

The high season kicks-off towards the end of the calendar year, usually around November/December time and gradually quietens down until April/May where we see a spike of movement over the Easter period. 

Historically, the island then slows down for the summer, however, we are currently experiencing a surge in activity and expect this to continue over the coming months. 

We would advise vendors to have their properties ready to market by the end of the summer so that they have the best opportunity to take advantage of the heightened activity either side of the Christmas period. 

Where are the traditional hotspots in your market?

The island’s West Coast has traditionally been the hotspot and is still to this day. Protected from the rough seas of the Atlantic Ocean and the trade winds blowing in from the East, this stretch of coastline offers pristine beaches and the calmer waters of The Caribbean Sea. 

The most sought after area would be the parish of St James, where you will find the exclusive resort of Sandy Lane, arguably the most prestigious address in The Caribbean.