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Predicting property markets is a dangerous game, with a multitude of dynamics in play. What often drives an individual’s decision to buy is the belief that the property offers good value now, all things considered, and is likely to increase rather than decrease in value.
Let’s consider some of the factors you may want to bear in mind as a UK buyer of Barbados property:
The US dollar has taken a pounding from sterling of late, providing much greater spending power for the UK buyer.
Mortgage interest rates remain low.
There is a good supply of new property coming onto the market.
Accessibility from the UK has improved, with Virgin and BMI the latest to announce more scheduled flights.
Extensive airport improvements in Barbados have been undertaken to cope with increased flight numbers.
Barbados hosts the Cricket World Cup final in April 2007, raising its profile worldwide and boosting the economy.
The UK buyer has started to look for alternatives to the traditional Mediterranean holiday home market.
Property values have seen a steady increase in Barbados rather than the boom and bust of more volatile property markets.
Warm year-round climate means rental potential is not limited to a few months of the year.
The Barbados government places no restrictions on overseas purchasers.
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