Why Invest in Barbados Property?
The Caribbean is well-known for its beautiful year-round weather and there are regular flights from the U.K., from the U.S.A. and from Canada providing easy access to the Caribbean. Barbados has a world-class international airport and is the hub for connecting with many of the other Caribbean islands. As a popular holiday destination, Barbadian investment properties afford year-round rental-opportunities.
Over the years, stable Barbados Governments have supported a thriving tourism-industry and active promotional programmes continue to bring a steady stream of visitors to the island from an increasing number of countries. This creates opportunities to rent your investment-property if you so desire. The capital-appreciation on investment-property has been between 5% and 10% per year for the last twenty years; this makes Barbados the ideal place to invest in real estate.
More Benefits For Owners of Investment Property in Barbados.
If you are buying investment-property in Barbados, there are many benefits that would appeal to non-residents (individuals).
- Capital Appreciation: Property prices in Barbados are stable and generally show a steady increase in value of over 5% per year. Ideally, you can invest in a luxury apartment or condominium today if you’re looking for rental income plus attractive capital appreciation.
- Rental Income from Your Barbados Investment Property: If you buy a luxury condominium or apartment, you can rent it out at very attractive rates. Most investment property developments will offer a property rental option.
- Investment Funds and Profits Can Be Repatriated: Money transferred to Barbados, to finance the purchase of property, must be registered with the Barbados Central Bank. This is to ensure that this money together with profits accruing from the property investment can later be taken out of the country should you decide to sell your investment property.
- Investment Property and Residency in Barbados: If you are not a Barbadian citizen or resident, you can live in Barbados as long as you own a property and can supply information indicating that your income will come from abroad. The Immigration Department will give a special entry permit allowing residence for 5 years and this is renewable. If you are over 60 years of age, you can apply for immigrant status in retirement. All applications for residency in Barbados should be made to:
Chief Immigration Officer
Careenage House, The Wharf
Buying Investment Property In Barbados Is Easy.
When you decide to go ahead with your property investment, a 10% deposit will be required to secure the luxury condominium, house or luxury apartment at the negotiated price. This should be done through an Attorney of your choice. The contract for purchase will then be prepared by your Lawyer who will guide you through the various steps for closing the agreement.