Barbados is one of the gems of the Caribbean. Only 166 sq miles in size it has a glitzy image in the hospitality business and for many years has been the favourite haunt of international celebrities. Renowned for its laidback culture and its white sandy pristine beaches it has an old colonial heritage, but in modern times it is a vibrant multi-national nation which will celebrate 50 years of independence in 2016. Barbados has the friendliest people in the Caribbean and one of the most relaxing lifestyles. Famed for producing some of the world's greatest cricketers other sorts like polo, horseracing and golf thrive. Driving around the island is simple and rewarding as it allows visitors to enjoy the different landscapes and to experience some of the towering sugar cane fields that once dominated the entire country. The island has a bubbly nightlife, splendid restaurants and a wide variety of music and entertainment.
BUYING PROPERTY IN BARBADOS
Buying property in Barbados is relatively simple as long as you are of good character. There are no punitive purchase taxes and Property Transfer Tax on selling is one of the lowest in the region at 2.5%. Like many Caribbean locations the property market has been soft since 2008, but this has produced a more competitive market and some good bargains. The island isn't a cheap destination which is why it will always attract high net worth individuals, but the property market is diverse and there are many options to suit every pocket. Mortgage facilities of up to 65% LTV are available to suitable purchasers and good advice is to seek the professional assistance of an experienced mortgage broker, lawyer and real estate agent to ensure your business is conducted with integrity and expertise.
