Confidence returns to the Barbados Market

A recent report by estate agency Chesterton Humberts shows an increase in tourist arrivals and a spate of new home construction on the island, indicating a growing confidence in the Barbados property market..

Compared to January 2013, the island saw tourist arrivals increase by 3.8%, welcoming a total of 50,123 visitors, mostly from the UK, USA, Canada and European countries such as Germany. The private jet terminal, IAM Jet Centre, has had the busiest season ever (Jan to early April) and this will be boosted further as Royal Jet, the luxury private jet fleet owned by the Government of Abu Dhabi, is commencing a series of private jet flights from Heathrow to Barbados.

Certainly at Royal Westmoreland we are seeing an increasing demand for larger properties with sales up 100% on last year. As a result a further 200 villas and a 9-hole golf course on an adjacent 210 acres of land are planned, which will expand Royal Westmoreland’s facilities and community considerably.

Kim Goddard, Director of Sales says: “Barbados has established itself as a long-time favourite for holiday makers and property investors alike. With the recent uplift in visitor numbers and increasing demand for buy to let properties as well as homes for a lifestyle investment, Royal Westmoreland’s growth plans could not be timed any better.”

Properties currently being built for buyers on the estate include four townhouses at Sugar Cane Ridge and six custom-build villas with additional residences in the pipeline.