Buying Real Estate in the Caribbean
Buying in Barbados
Nicholas Marr-marr International Ltd
With it's warm climate, social and political stability and friendly people, Barbados is the perfect place to purchase that retirement house or holiday home.
On the West Coast of Barbados, coral shore beaches of fine white sand stretch along a blue-green sea. Coral reefs fringe the Barbados shoreline to provide excellent snorkeling and Scuba Diving. Along the East Coast a lively surf is blown briskly by the strong and constant trade winds and the waves pound against a rocky shore. The constant breeze of the trade winds give Barbados a mild and pleasant tropical.
Barbados, a 166 square mile coral island is home to some of the most magnificent Caribbean properties, including Barbados villas and Barbados real estate.
The Barbados property market offers some of the finest beach front Barbados villas and Barbados real estate in the Caribbean as well as a marina community, golf resort and the David Lloyd tennis community. World class golf courses include designs by Tom Fazio and Robert Trent Jones Jr. You will find some stunning homes.
This spacious 4-bedroom, 4-bathroom house with 2-bedroom, 2 bathroom cottage set directly on the course's 9th hole. Situated on just shy of 2 acres of land with 305 feet of golf course frontage.It is situated on one of the island's the most prestigious developments Sandy Lane $3,500,000.
Buying in Barbados
Land and property are available without restrictions to non-nationals.
A non-Barbadian buyer must first get permission from the Central Bank of Barbados. This step is merely a formality.
Vendors are liable for the property transfer tax which is charged at the rate of 10% of the purchase price.
Since financing is not available for non-Barbadians, you must bring the entire amount of the purchase price into Barbados. When you do, this amount must be registered with the Central Bank of Barbados. The Central Bank guarantees repatriation of this amount on selling.
It is advisable to employ the services of an attorney-at-law and a reputable real estate agent to handle these transactions. Legal fees are approximately 2% of the purchase price.
Barbados Quick Facts
Currency: Barbados dollar, US$1=BBD1.98
Official language: English
Political status: independent nation, member of the Commonwealth
Entry requirements: please go to the official Barbados tourist site – click the link above
Area: 166 square miles. (430 sq km)
Religion: More than 70 denominations, the largest Anglican, with big groups of Methodists, Moravian Brethren, Roman Catholics and Jews.
Business: Banks are open 8am-3pm, Monday to Thursday, and 8am-5pm on Fridays. The main banks are Barclays Bank, Bank of Nova Scotia, Barbados National Bank, Canadian Imperial Bank of Commerce, Caribbean Commercial Bank and Royal Bank of Canada. Cash dispensers are available. Shops are open 8am-6pm weekdays and 8am-noon Saturdays. Payment cards are widely accepted.
Electricity: 110 volts AC, 50 cycles. Most hotels have 220 AC.