21 December 2006

Barbados Big Hit with the Brits

Research undertaken by the Institute for Public Policy Research in London showed that 27,000 Brits choose Barbados as their second home. This Caribbean hot spot continues to charm and entice us, and if we combine this number with those of us that spend only some months of the year there, either for work purposes or a holiday, this figure rises to a staggering thirty four thousand.

Not withstanding that, the much anticipated Cricket World Cup being held in Barbados in 2007 is expected to generate even more interest in the Barbados property market. The number of rooms and villas becoming available due to expansion of existing resorts, and the investment that is being poured into luxury new developments is adding further to the returns we can expect to see generated for anyone seeking to invest here.

The Barbados Hotel and Tourism Association have reaffirmed Barbados as a mature destination for those of us seeking to invest or simply retire here, with an existing retired population of Brits already reaching 5,000, more and more expats are seeking the sunnier homes.

This English speaking Caribbean island with its stable economy is tipped to be the key focus for the long haul overseas investor in the coming months. Despite the forthcoming increase in luxury accommodation, development will become limited over time and this will generate more interest as demand outstrips supply. The prices are holding fast and showing keen returns for the investor especially those looking for rental opportunities.