Mclaren Investment Property Abroad

Barbados continues to be a location chosen by discerning investors that are looking for a sophisticated and authentic Caribbean destination that provides high levels of service, an enabling business environment, and one that offers a range of tax and financial concessions. Additionally, substantial increases in Revenue per Available Room (RevPAR) and annual hotel occupancy rates of over 70% have made Barbados very attractive to many major hotel brands that are actively looking to raise their flag on the island.

Barbados offers a number of incentives for overseas property investors, mainly the quality of the properties in Barbados, active market place and presence of a westernised culture (heavily influenced by the British).  While the island does not operate a full “free market” economy (with some areas of industry still working to a set fee structure) there are plans to change this in due course.

The government have shown in the past that they are willing to take difficult and sometimes unpopular decisions in order to retain the long term improvement in the economy. The beautiful landscape, excellent infrastructure and relaxed life style of the locals adds to the overall attractions of the country, demonstrated in a very buoyant tourist industry.

As with a number of smaller island in the West Indies, they hold great attraction for many of the worlds rich and famous, with the area constantly in the news.  Barbados property is currently in vogue as the country was host to the 2007 Cricket World Cup, which has resulted in the redevelopment of the famous Kensington Oval, and improvement in the islands infrastructure has been made.

While the millionaire properties in Barbados receive the majority of the limelight, the effect is starting to ripple through the whole island, as people attempt to spot the next lucrative opening.  As demand continues to far outweigh supply, there will always be a strong backbone to property market, which is further strengthened by the demand for local rented accommodation for overseas workers. The government have also shown a willingness to reinvest into the islands facilities ensuring plenty of attractions for overseas investors.

Barbados is the most easterly of the Caribbean chain of islands that stretches from Florida on the North American mainland to the Guianas on the South American continent. The island is just 21 miles long and 14 miles wide at its widest point and is made up of soft coral lime stone which is responsible for the gently rolling landscape.  The terrain rises in steps from the west coast, reaching its highest point of 1100 feet at Mount Hillaby in the eastern parish of St. Andrew. The island is fringed coral reefs which is responsible for the white sand beaches that are present along the coast line.

There is a dry season from February to March and a definite wet season between July and November. Although the island lies in a hurricane belt it has not suffered a direct hit since 1955.

Summary

Why Invest in Barbados?

1.    Very Small Exclusive Island.
2.    Lack of Land to Build on – Restricted Supply to cope with large demand.
3.    Superb Tax Incentives for Investors.
4.    Guaranteed Rental Income of 10% per Annum for 2 years.
5.    70% LTV Mortgages.
6.    Daily Flights from the UK.
7.    No Owner Property Restrictions in Barbados
8.    Leading Island Destination in the Caribbean.