Invest In Barbados Property For Sale
Barbados is an island in the eastern Caribbean. It is the favorite destination for many due to its natural beauty and climate. Besides these there are many tourist attractions and beautiful beaches that attract lakhs of tourist every year. It is rich in history, food, climate, art, culture, sports etc. The people over there are very friendly. It is the best place for relaxation and change from the routine.
Why people buy apartment in Barbados
• Second home: Frequent visitors to Barbados can buy an apartment for their families. Buying an apartment in Barbados is the best option for people who visit Barbados every year for a longer vacation. Instead of renting an apartment it is better to buy an apartment and stay there to have a wonderful vacation and spend as much time as you want at your own convenience.
• Investment: The second reason for apartments for sale in Barbados is for investment purpose. If one has enough money and wants to invest in an apartment then Barbados is the best place to do so. The government of Barbados does not impose any restriction for a non-national to buy apartments there. Hence investing here is a good opportunity to appreciate your asset and add value to your money.
• Additional Income: One can earn additional income from the apartment they bought in Barbados. They can give the apartment for rentals to the tourists who visit Barbados for holidays. The short term rentals market in Barbados in increasing as many people who visit Barbados with their families prefer to rent an apartment for their stay.
Why property sales has increased in Barbados:
Barbados is a beautiful island with a number of beaches and coral reef. The property sales over here have increased tremendously over the last three decades. There are different properties available in Barbados. Properties at the beach front have a higher price as compared to others as many tourists prefer to rent a property on the beach during their stay. Many of the properties are gated with different facilities like swimming pool, gym, bars, restaurants, marinas etc. Investing here is a unique opportunity to earn money as tourism sector has already flourished here on a large scale and the property owners are earning very well on their investment.
Guidelines for potential buyers of Barbados property
• A non-national should obtain permission from the Central Bank of Barbados.
• In Barbados the property seller has to pay property transfer tax of 2.5% of the selling price of the property.
• Offshore loan facility is available in Barbados, but it is advisable for a non-national to acquire the funds from an external source to get the benefit of attractive rates.
• The funds that are brought externally needs to be registered with the Central Bank. This is to ensure guarantee when you sell the property.
• Always hire the services of a reputable attorney and real estate agent to handle all the property related transactions. The real estate agent charges a fee of 2% of the purchase price of the property.
• Every three years land tax valuation department revises the property valuation and the land tax is charges accordingly.
Why people buy apartment in Barbados
• Second home: Frequent visitors to Barbados can buy an apartment for their families. Buying an apartment in Barbados is the best option for people who visit Barbados every year for a longer vacation. Instead of renting an apartment it is better to buy an apartment and stay there to have a wonderful vacation and spend as much time as you want at your own convenience.
• Investment: The second reason for apartments for sale in Barbados is for investment purpose. If one has enough money and wants to invest in an apartment then Barbados is the best place to do so. The government of Barbados does not impose any restriction for a non-national to buy apartments there. Hence investing here is a good opportunity to appreciate your asset and add value to your money.
• Additional Income: One can earn additional income from the apartment they bought in Barbados. They can give the apartment for rentals to the tourists who visit Barbados for holidays. The short term rentals market in Barbados in increasing as many people who visit Barbados with their families prefer to rent an apartment for their stay.
Why property sales has increased in Barbados:
Barbados is a beautiful island with a number of beaches and coral reef. The property sales over here have increased tremendously over the last three decades. There are different properties available in Barbados. Properties at the beach front have a higher price as compared to others as many tourists prefer to rent a property on the beach during their stay. Many of the properties are gated with different facilities like swimming pool, gym, bars, restaurants, marinas etc. Investing here is a unique opportunity to earn money as tourism sector has already flourished here on a large scale and the property owners are earning very well on their investment.
Guidelines for potential buyers of Barbados property
• A non-national should obtain permission from the Central Bank of Barbados.
• In Barbados the property seller has to pay property transfer tax of 2.5% of the selling price of the property.
• Offshore loan facility is available in Barbados, but it is advisable for a non-national to acquire the funds from an external source to get the benefit of attractive rates.
• The funds that are brought externally needs to be registered with the Central Bank. This is to ensure guarantee when you sell the property.
• Always hire the services of a reputable attorney and real estate agent to handle all the property related transactions. The real estate agent charges a fee of 2% of the purchase price of the property.
• Every three years land tax valuation department revises the property valuation and the land tax is charges accordingly.
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